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MasterCard exec says U.S. recovery erratic

The economy's recovery is erratic but improving enough to renew store chains' appetite for private-label credit card deals, MasterCard Inc's head of U.S. markets said on Tuesday.

San Francisco Fed picks Williams to succeed Yellen

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John Williams, the San Francisco Federal Reserve Bank's head researcher whose work suggests the Fed's bond-buying has helped restore millions of jobs, will succeed Janet Yellen to lead the regional Fed bank.
James Franco and Anne Hathaway

Oscar ratings down seven percent, hosts blamed

James Franco and Anne Hathaway were chosen as the hosts for the 83rd Annual Academy Awards with the hope of appealing to a younger demographic. Even so, the pair failed to pull big ratings during the awards ceremony.
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Bernanke's testimony to Senate Banking Committee

The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony to the Senate Banking Committee on Tuesday on the central bank's semi-annual report on U.S. monetary policy.
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Investors line up for Ally's $2.7 billion secondary offer

by Timothy SifertThe Treasury's $2.7 billion secondary offering of Ally Financial's trust preferred securities unveiled Tuesday is expected to be a blowout, as investors rush to get in on one of the last opportunities to buy a sizeable bank TruPS deal.
U.S. Navy Enterprise Carrier Strike Group

As U.S. Ships Approach Libya, Critic Blasts Possible Military Action

As the United States moves military ships toward the Mediterranean Sea and officials discuss the possibility of imposing a no-fly zone over Libya, Venezuelan President Hugo Chavez said it was irresponsible to consider all options to resolve the situation there, including an invasion.
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Bernanke sees few ripples for U.S. from costly oil

Federal Reserve Chairman Ben Bernanke offered a fairly upbeat assessment of the U.S. economy on Tuesday, saying the recent surge in oil prices is unlikely to have a major effect on either growth or inflation, as long as higher prices do not become sustained.
U.S. Federal Reserve Board Chairman Ben Bernanke speaks at the Federal Reserve Bank of Boston in Boston

Bernanke testimony: QE2 is working well

Federal Reserve Chairman Ben Bernanke said both rounds of quantitative easing (QE1 and QE2) are working well, in the question and answer session of his testimony to Congress.
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Obama says public employees should not be vilified

President Barack Obama said on Monday everyone should be ready for sacrifice to help tackle U.S. budget problems, but it does no good to vilify public employees. In an apparent reference to a Wisconsin fight between public sector unions and the state's governor, Obama said: I don't think it does anybody any good when public employees
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Ex-Apple employee pleads guilty in kickback scheme

A former Apple Inc employee pleaded guilty to multiple criminal counts after being accused of taking kickbacks from Asian suppliers. Paul Devine, who worked at the iPhone maker as a global supply manager, was accused of using his position to pass confidential information to help suppliers negotiate favorable contracts with Apple.
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Wall Street falls as oil fuels recovery worries

Stocks dropped on Tuesday as investors worried that rising oil prices could choke off the economic recovery, with equities looking to keep taking their lead from oil prices in the near term.
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Construction spending falls in January

U.S. construction spending fell more than expected in January to its lowest level in five months, a government report showed on Tuesday, pulled down by weak private construction outlays.
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S.Africa tourism rises 15.1 pct in 2010 on World Cup

Boosted by the soccer World Cup, South Africa saw a record 15.1 percent increase in tourist arrivals in 2010 although the total of more than 8 million was not an all time-high, the tourism minister said on Tuesday.
Gaddafi

Us warns of Libya civil war if Gaddafi stays

Libya could descend into civil war if Muammar Gaddafi refuses to quit, the United States said on Tuesday, its demand for an end to his rule carrying new weight after word of unspecified Western military preparations.

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