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Gold set to make new records

It was a week of rise and rise for gold as the precious metal scaled new heights by gaining strength from the safe haven buying. And, it seems there is no end to the gold rally as the metal is expected to cross new barriers in the coming week.
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U.S., China face off over currency ahead of G20

The United States pressed China on Friday to move toward a market-based exchange rate, but Beijing said not to meddle with its management of the yuan, setting the stage for a clash at next week's G20 summit.
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Traders go World Cup crazy as markets languish

With the U.S. team playing in the World Cup tournament, Wall Street traders are taking advantage of mediocre volume to focus on the games, with trading floor atmosphere anything but dull.
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Ford aims to reinvent Explorer, recapture sales

Ford Motor Co is counting on a leaner and greener makeover of its Explorer to find new buyers for a once hot-selling sport utility vehicle that powered the automaker's profits a decade ago.
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Borders CFO takes chief operating officer job

Borders Group Inc Chief Financial Officer Mark Bierley is taking on the additional role of chief operating officer, the latest change to the U.S. bookseller's upper management ranks.
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China says hands off yuan but Obama talks tough

The United States pressed China on Friday to move toward a market-based exchange rate but Beijing said not to meddle with its management of the yuan, setting the stage for a clash at next week's G20 summit.
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CEO safe for now, heat on chairman: BP investors

BP CEO Tony Hayward may cling on after Thursday's mauling by U.S. lawmakers over the Gulf of Mexico oil spill, investors and analysts said, while chairman Carl-Henric Svanberg looked less secure.
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Walgreen and CVS settle drug plan fight

CVS Caremark Corp and Walgreen Co ended an 11-day standoff over reimbursements for drug prescriptions, saving a relationship worth billions of dollars and lifting shares of the two biggest U.S. drugstore chains.
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Euro steadies, heads for best week since May 2009

The euro held near a three-week high against the dollar on Friday, heading for its biggest weekly gain in more than a year as investors debated the single currency's outlook while awaiting results of European bank stress tests.
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Gold hits record on safe-haven demand

Gold rallied to a record high above $1,260 an ounce on Friday as momentum triggered by buying of the metal as a haven from sovereign and financial risk pushed prices through technical resistance.
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Regulators take step toward broadband rules

Communications authorities on Thursday took a small but significant step toward regulating high-speed Internet in a bid to reclaim oversight, setting the stage for an eventual legal showdown with industry heavyweights.
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Investor mood lifts as BP survives spill grilling

BP shares gained in London on Friday after its boss survived a bruising encounter with U.S. lawmakers and as hopes rose its $20 billion oil spill compensation and clean-up fund will cap public anger.
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Walgreen, CVS settle drug plan fight

CVS Caremark Corp and Walgreen Co ended a fight over reimbursements for drug prescriptions, saving a relationship worth billions of dollars and lifting shares of the two biggest U.S. drugstore chains.
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Euro holds near 3-week high versus dollar

The euro held near a three-week high against the U.S. dollar on Friday, heading for its biggest weekly gain in more than a year as results of Spain's bond auctions eased worries about the European debt crisis.
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China says hands off yuan

China told the rest of the world on Friday not to meddle with the way it manages the yuan, setting the stage for a clash with its biggest trading partners at next week's G20 summit.
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Obama prods China on currency rates in G20 letter

President Barack Obama raised the prospect of a clash with China at a summit next week by calling for market-determined exchange rates, shortly after Beijing told the world not to criticize its currency policy.

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