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Big Lehman creditor group backs bankruptcy plan

Lehman Brothers Holdings Inc said creditors holding more than $100 billion of claims now support its reorganization plan, moving the company closer to emerging from the largest-ever U.S. bankruptcy.
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Instant view: Manufacturing sector picks up in June

The pace of growth in the U.S. manufacturing sector picked up for the first time in four months in June, a sign of optimism for the sputtering economy, according to an industry report released on Friday.
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Investors revel as housing looks for bottom

Tony Alvarez recalls his doubts as he contemplated the wrecked, two-bedroom foreclosed house up for sale 30 years ago with his real estate agent's reassuring hand on his shoulder.
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Ford's June Sales Increased 11 Percent

Ford Motor Company posted strong sales results for June, up 10 percent from the same month one year ago. General Motors also showed a June sales increase, but its numbers were below analyst expectations.
U.S. Treasury Secretary Timothy Geithner

Geithner Reaffirms Aug. 2 U.S. Debt Ceiling Deadline

The nation's highest-ranking fiscal official Friday reaffirmed the Aug. 2 deadline for raising the U.S. debt ceiling -- urging Congress to act soon to avoid the catastrophic economic and market consequences of a default crisis by raising the statutory debt limit in timely manner.
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GM's U.S. June sales below forecasts

General Motors Co on Friday reported a weaker-than-expected gain in June U.S. sales and tempered its full-year forecast for the industry as some consumers were still holding back on buying cars.
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Lehman says new bankruptcy plan gets wider support

Lehman Brothers Holdings Inc said its second amended $65 billion bankruptcy liquidation plan won support from thirty institutions and affiliates, possibly setting the stage for the end of the biggest bankruptcy in U.S. history.
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Wall Street rises for fifth straight day

Stocks advanced for a fifth straight session on Friday and were poised to record their best week in nearly a year after data showed the U.S. manufacturing sector grew faster than expected in June, helping to dispel some recent gloom about the economy.
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Manufacturing sector picks up in June

The pace of growth in the manufacturing sector picked up for the first time in four months in June, a sign of optimism for the sputtering economy, according to an industry report released on Friday.

Lockheed Martin Axing 1,500 Jobs Amid Looming Defense Spending Cuts

Lockheed Martin Corp. (NYSE: LMT) said it will cut about 1,500 jobs at the Aeronautics unit in a move to curb costs and offer better priced products to customers. Added to the costs, President Barack Obama's goal of reducing defense spending by $400 million is also a burden on Lockheed Martin.
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Investors strike $208.5 million WaMu settlement

Washington Mutual Inc's officers, directors, underwriters and auditor have agreed to a $208.5 million settlement to end class-action securities fraud lawsuits, according to court documents.
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Wall Street eyes best week in a year

Stocks were set to post their best week in nearly a year on Friday as investors looked ahead to key national manufacturing data, with confidence growing that the economic slowdown could be temporary.

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