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HOW TO PLAY IT: As gold turns to dust, cleaning up portfolios

In years past, gold often acted as a safe haven when stocks were falling, and it hit a record in August while equities struggled. Now, however, it's mired in its worst selloff in decades. What does it mean for investors who see gold as a core portfolio holding?

Safe From NASA Satellite Falling: UARS Fell Over Pacific Ocean

NASA's UARS
Those around the world afraid that NASA's falling UARS satellite might come crashing down upon them can rest easy. NASA said the satellite initially penetrated the Earth's atmosphere over the Pacific Ocean and most of it is believed to have burned up. NASA has not confirmed where it landed, but the agency said re-entry occurred during a two-hour period.
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Afghan policemen fire towards a building which the Taliban insurgents took over during an attack near the U.S. embassy in Kabul

U.S. Looks for Links Between Kabul, Mumbai Attacks

U.S. agencies are looking into possible similarities between the Sept. 13 attacks on U.S. and NATO targets in Afghanistan, and the November 2008 attack by militants on civilian targets in Mumbai, India.
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Gold slumps record $100; stocks edge up

Gold prices slumped more than $100 an ounce on Friday, the biggest fall on record in dollar terms, as traders sold to cover losses, while global stocks edged up on expectations the European Central Bank will take new measures to contain the euro zone debt crisis.
Venezuelan President Hugo Chavez speaks to the media as he stands next to the U.S. actor Sean Penn after their meeting at Miraflores Palace in Caracas

Actor Sean Penn Worked to Get Americans from Iran

U.S. actor Sean Penn engaged in attempts to secure the release of two Americans freed by Iran this week, flying to Venezuela to ask President Hugo Chavez to intervene with Iran's leader, a source close to the release process said on Friday.
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Wall Street ends up after 4 days of losses

Stocks ended higher on Friday, stopping the bleeding after a disastrous four days of selling marred by severe anxiety over Europe's spiraling debt crisis and the Fed's dire warning about the U.S. economy.
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Williams raises questions on Fed's latest move

Just days after the Federal Reserve launched a new round of unconventional monetary policy easing, a top Fed official with a record of supporting such moves on Friday questioned how effective the latest move will be.
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Bill Gates backs financial transaction tax to aid poor

A report by Microsoft founder Bill Gates to Group of 20 ministers on Friday proposes raising new funding for poorer countries by taxing financial transactions, tobacco, and shipping and aviation fuels, according to details of a G20 report obtained by Reuters.
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Gates backs financial transaction tax to aid poor

A report by Microsoft founder Bill Gates to Group of 20 ministers on Friday proposes raising new funding for poorer countries by taxing financial transactions, tobacco, and shipping and aviation fuels, according to details of a G20 report obtained by Reuters.
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Wall Street stabilizes after disastrous week

The Dow Jones industrial average on Friday suffered its worst week since the depths of the financial crisis in 2008, stung by severe anxiety over Europe's spiraling debt crisis and a warning from the Federal Reserved about the U.S. economy.
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Thiel puts brand on Merrill with shake-up

John Thiel has moved out of Sallie Krawcheck's shadow, slashing Merrill Lynch manager jobs and taking steps to more closely align the firm's retail brokers and private bankers.
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WTO cuts trade growth forecast, cites economic turmoil

The World Trade Organization, citing turmoil in the global economy, on Friday cut its forecast for the growth of trade in 2011 from the 6.5 per cent it predicted in April to 5.8 per cent, and warned that the final figure could be lower.
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Citi's Pandit suggests new way to gauge risk

To protect the international financial system, regulators should rely more on a benchmark portfolio as a tool to guard against excessive risk-taking, rather than the capital standards now in use, Citigroup Chief Executive Vikram Pandit said on Friday.

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