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China accounting scandals put Big Four auditors on red

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The string of accounting problems and stock plunges at publicly traded Chinese groups has sparked deep concerns across the world's biggest audit firms, putting the so-called Big Four on alert from worries that their reputation could be brought down along with a growing list of stricken companies.
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First-quarter GDP revised up to 1.9 percent

Economic growth was revised modestly higher in the first quarter to account for a slightly faster pace of restocking by businesses and a smaller increase in imports, government data showed on Friday, but remained anemic.
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New York Lawmakers to Take up Gay Marriage, Work Hard on Bill

The Gay Marriage Bill is still priority on the agenda of the New York State Senate, which met till late Thursday night to come closer to a conclusions on the believed to be pivotal bill for the national Lesbian, Gay, Bi- and Transsexual movement.
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Apple files patent suit against Samsung in South Korea

Apple Inc has filed a lawsuit in South Korea, claiming Samsung Electronics Co Ltd infringed upon several patents, a court official said on Friday, in the companies' latest legal tussle over smartphone and tablet devices.
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HSBC can expect July ruling in Madoff trustee suit

HSBC Holdings PLC will have to wait until the end of July to hear whether or not a U.S. judge allows the Madoff firm trustee to proceed with a $9 billion lawsuit accusing the bank of enabling the massive fraud.
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Ford slides, Toyota surges in key quality survey

Trouble with new technologies including a clunky control system for its radios pounded Ford Motor Co's ranking in a closely watched quality ranking, just a year after the U.S. brand led its mass-market rivals.
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Chrysler eyeing China production through Fiat JV

Chrysler Group LLC is aggressively exploring the possibility of building more vehicles in China, where the company is on track to sell 40,000 cars and trucks this year, an executive said on Thursday.
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Bernanke passes early media test, challenge to come

Ben Bernanke used his second-ever news conference on Wednesday to teach the world's financial markets a lot more about the thinking at the Federal Reserve than they could glean from its usual statements.
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Google Joins Microsoft on the Anti-Trust Olymp

Google, Inc. faces the real threat of an anti trust probe by the Federal Trade Commission, which is still pending, but likely to be launched soon according to reports, letting the company step into the shoes of software giant Microsoft in the 1990's.
Suspect Jose de Jesus Mendez (2nd R), known by his nickname "El Chango," or "The Monkey", is being presented to the media by the police along with other suspects in Mexico City June 22, 2011.

Mexico Drug War: Top cartel leader arrested

The Mexican Federal Police captured Jose de Jesus Mendez Vargas, leader and founder of the criminal organization The Family (La Familia) in the state of Aguascalientes on Wednesday, the Ministry of Public Security said.
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Same-sex couples with children show dramatic increase

According to the latest data released by the U.S. Census Bureau, a startling picture of California is unveiled. The number of hetero married couples raising kids has been declined 10% over the last ten years while currently it is at 23%. Over a quarter of heterosexual married households are without a child and yet nearly a quarter of same-sex couples have kids in their households!
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Discover beats forecasts, profit more than doubles

Discover Financial Services said quarterly profit more than doubled, beating expectations, as customers spent more on their credit cards and the company started to reap the benefits of its expansion beyond credit card lending.
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NYSE, D.Boerse to pay dividends, end investor suits

NYSE Euronext and Deutsche Boerse AG agreed to pay roughly $900 million of dividends to settle U.S. shareholder lawsuits challenging their roughly $10 billion merger to create the world's largest exchange operator.

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