UNITED STATES

Democrat Frank says abolish Freddie and Fannie: report

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Fannie Mae and Freddie Mac should be abolished rather than reformed as part of the Obama administration's planned overhaul of the government's role in housing finance, Rep. Barney Frank, chairman of the House Financial Services committee, said on Tuesday.

July home building up

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Home building increased at a much weaker pace than expected in July, though sturdy growth in industrial output implied the embattled economy has enough strength to keep growing.
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Obama seeks new design for housing, Fannie/Freddie

The U.S. government's role in housing finance should undergo fundamental change, but it should still provide some guarantees in the mortgage market, Treasury Secretary Timothy Geithner said on Tuesday.
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Gold turns volatile on profit selling

Gold prices were slightly up but remained volatile in Asian trade Wednesday as some investors took to profit selling. Gold for immediate delivery was seen trading at $1225. 81 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery were steady at $1,227.5 an ounce.
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GM mulls cornerstone sales in IPO -sources

General Motors Co is considering selling a chunk of the carmaker's stock to institutions who would commit to buy and hold major stakes as the company prepares for its initial public offering, people familiar with the discussions said on Monday.
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U.S. credit card losses fall more than expected

Fewer Americans fell behind on their credit card payments than expected in July, as consumers coped better with their debt, but the drop in delinquencies to their lowest levels so far this year doesn't suggest a recovery in spending, analysts said.
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Australian Dollar Outlook 17/8/2010

The AUD has opened stronger this morning gaining overnight with news that China will take over Japan's place as the world's second largest economy.
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GM IPO filing expected on Tues

General Motors Co has completed the paperwork for an initial public offering, and timing of its filing with the U.S. securities regulators rests with the board of the top U.S. automaker, sources familiar with the process said on Monday.
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Home builder mood sours

U.S. home builders' optimism hit a near 1-1/2 year low in August and a regional manufacturing gauge grew more slowly than expected, implying the economic slowdown continued into the third quarter.
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Fed says loan standards eased

The Federal Reserve said on Monday bank lending standards eased somewhat over the last three months while demand for business and consumer loans was largely unchanged.
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GM IPO expected by Tuesday: source

General Motors Co has completed the paperwork for an initial public offering and timing of its filing with the U.S. securities regulators now rests with the board of the top U.S. automaker, a source familiar with the situation said on Monday.
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GM completes IPO paperwork, filing expected by Tues: source

General Motors Co has completed the paperwork for an initial public offering and timing of its filing with the U.S. securities regulators now rests with the board of the top U.S. automaker, a source familiar with the situation said on Monday.
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Porsche to meet U.S. fuel standards-exec

Porsche AG will meet strict U.S. fuel economy standards of 35.5 miles per gallon when they go in force by 2016, Detlev Von Platen, the German automaker's North American president
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Wall St drifts higher

Stocks rose on Monday, led by technology shares, as investors shrugged off signs of a weak economy to wade into stocks that have become cheap.
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Bargain hunters lift Nasdaq

The technology-heavy Nasdaq rose on Monday as investors put aside worries about the economy to take advantage of beaten-down prices.

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