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Luxury Brands on Recovery Track

The recession hit US economy had forced the rich spenders go a little tight on their shopping spree, affecting most high end companies. However, there is good news coming as some top luxury brands are already hitting the recovery path.
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U.S. hiring outlook dips slightly: Manpower

Job prospects have improved dramatically in emerging markets like China compared with three months ago, but the fourth-quarter hiring outlook dipped slightly in the United States and Germany
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Valeant, Biovail to cut 25 pct jobs of combined co

U.S.-based Valeant Pharmaceuticals International, which agreed to be bought by Canada's Biovail Corp in June, said they would cut about 25 percent of the combined company's U.S. and Canadian workforce as part of the integration plans.
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Housing magazine publisher extends lenders pact

Network Communications Inc, the company behind U.S.-based real estate-related publications such as The Real Estate Book, said on Friday it signed its fourth extension on a standstill agreement with lenders as it continues talks on restructuring debt ahead of a November expiration.
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Fewer sellers cut home prices in Aug: Zillow

The percentage of U.S. home sellers who cut their asking price fell in August, the first time in five months, with price reductions holding steady from the month before, real estate website Zillow.com said.
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Diabetes Drug May Cure Lung Cancer: Study

Smokers developing lung cancer may get a cure in the common diabetes drug metformin, Reuter reports according to National Cancer Institute research findings on Wednesday. Metformin prevented lung tumor growth in mice exposed to a cancer-causing agent found in tobacco.
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Payrolls data offer ray of hope for recovery

U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring was a positive surprise, relieving concerns about a stalling economic recovery.
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Global stocks rise on signs recovery on track

Stocks jumped and commodities rallied on Friday after data showed U.S. job losses were less than expected in August, the second major report this week to ease fears the American economy may slip back into recession.
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Stocks rally as jobs data spurs optimism

Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.
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Obama says to address new economic ideas next week

President Barack Obama will outline new measures next week to boost the U.S. economy after August data on Friday showed again that jobs -- the central issue in November elections -- were being created too slowly.
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Poised for a risk rally?

With little fanfare, equity markets have started to rally, investors have become sated with government bonds and cash levels are high enough to prompt a search for better yield.
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Cuba's Fidel Castro has 1st public speech in years

Former Cuban leader Fidel Castro, wearing his green military cap and clothing like the comandante of old, made his first speech before the Cuban public on Friday since falling ill in 2006, warning of the threat of nuclear war.
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U.S. jobs data lifts FTSE to 4-month closing high

Britain's leading share index hit a near four-month closing high on Friday after a better-than-expected U.S. jobs report eased concerns of the world's largest economy slipping back to another recession.
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Stocks set for best week in six as fear eases

Wall Street was set to close its best week in six on Friday after economic data, including a stronger-than-expected labor market report, helped soothe fears the economy could fall back into recession.
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Europe shares finish higher on U.S. employment data

European shares hit a three-week closing high on Friday and posted their biggest weekly gain in about 8 weeks as investors grabbed equities after figures showed that U.S. employment declined far less than expected in August.

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