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Stocks rise on economic data

U.S. stocks rose in thin trade on Wednesday as retailers' earnings and a report showing a slight improvement in private employment boosted optimism ahead of Friday's payrolls report.

RIM stock drops 4 percent on worries over Saudi move

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Research In Motion stock tumbled more than 4 percent on Wednesday as mounting concerns that Saudi Arabia will block its service clouded any positive sentiment generated by Tuesday's launch of a new BlackBerry.

White House: Beginning of the end of Gulf spill

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The White House on Wednesday hailed the beginning of the end of efforts to plug and contain the BP oil spill in the Gulf of Mexico but said there was still a lot of cleanup work to be done.
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Google's Android leads U.S. smartphones

Smartphones running Google's Android software were the top seller among consumers in the United States in the second quarter, industry tracker NPD said on Wednesday.
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Nearly 3/4 of BP spill oil gone from Gulf

Nearly three-fourths of oil from the BP spill is gone from the Gulf of Mexico, with 26 percent remaining as a sheen or tarballs, buried in sediment or washed ashore, U.S. scientists said on Wednesday.
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U.S. says 74 percent of BP spill oil gone

Nearly three-fourths of oil from the BP spill is gone from the Gulf of Mexico, with 26 percent remaining as a sheen or tarballs, buried in sediment or washed ashore, U.S. scientists said on Wednesday.
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Private sector sees job gains in July

Private sector employment rose slightly more than expected in July, easing some concerns about labor market weakness ahead of a key government jobs report later this week.
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Service sector expands in July

The services sector grew slightly more than expected in July, with new orders and employment rising in the latest month, according to an industry report released on Wednesday.
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Obama welcomes BP success in subduing Gulf well

BP Plc claimed a significant milestone in efforts to plug its broken Gulf of Mexico well for good on Wednesday, as a U.S. government report showed nearly three-fourths of the spilled crude had been mopped up or dispersed.
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Barnes & Noble shares soar on sale plans

Barnes & Noble Inc shares soared 21 percent on Wednesday after the struggling bookseller said it was up for sale and could get a bid from its founder to go private.
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Oil extends rally above $82 on lower U.S. crude stocks

The benchmark U.S. crude oil price rose a touch on Wednesday, responding to official figures showing a higher than expected fall in crude stocks. The optimism was, however, tempered by a rise in gasoline and distillate inventories.
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Gold breaks $1,200 in sixth daily rally

Gold rose above $1,200 an ounce in Europe on Wednesday as a swell of fund buying put the price on track for its sixth successive daily gain. A soft performance on the global equity market and expectations for a rise in Chinese demand were early drivers to the day's rally, although U.S. private sector jobs data pushed up the dollar and diffused some of gold's safe-haven appeal.
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Time Warner raises outlook as ad spending improves

Time Warner Inc raised its full-year outlook after quarterly revenue grew at the fastest pace in two years, thanks to a surge in advertising sales at its cable networks and strong turnouts for movies like Clash of the Titans.
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Lawsuit claims Toyota ignored safety issues

Toyota Motor Co ignored evidence of acceleration problems in its vehicles for most of the past decade and failed to install a brake override system it knew could have prevented accidents.
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Goodyear CEO elected board chairman

Goodyear Tire and Rubber Co President and Chief Executive Richard Kramer has been elected chairman of the largest U.S. tire maker effective October 1, the company said on Tuesday.
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More billionaires pledge fortunes to charity

More than 30 U.S. billionaires pledged on Wednesday to give away at least 50 percent of their wealth to charity as part of a campaign by investor Warren Buffett and Microsoft founder Bill Gates.

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