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Euro zone faces zero growth: Roubini

The euro zone is facing a period of zero growth if not recession, and the United States is heading for financial trouble, U.S. economist Nouriel Roubini was quoted as saying on Saturday.

G20 scraps plans for universal bank tax

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The world's top economies scrapped plans for a universal global bank tax on Saturday, giving countries plenty of wiggle room over how to make banks pay for their bailouts in future.

U.S. demands Europe acts on economy, banks at G20

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Finance chiefs raced on Saturday to agree on ways to support growth and make global banks safer with a warning from Washington ringing in their ears that Europe and Japan must do more to boost home-grown demand.
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G20 set to dash bank levy hope

The world's top economies were set to ditch plans for a universal global bank levy on Saturday amid signs of slippage in other reforms pledged during the financial crisis.
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Verizon may be alone in following AT&T rate change

Verizon Wireless could be prepared to follow AT&T Inc's lead and change how it charges wireless subscribers to download data -- but analysts say other carriers may be better served by standing their ground in the latest pricing upheaval.
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Correction: Robert Redford attacks big oil, politics on spill

(Corrects title of NRDC in paragraph 2)Actor and environmentalist Robert Redford has weighed in on the U.S. oil spill crisis, condemning efforts by major energy companies to promote their environmental credentials and use their money to influence their parrots in Congress.
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Ex-Lehman execs seek dismissal of Repo 105 lawsuit

Former Lehman Brothers Holdings Inc chief executive Richard Fuld asked a judge on Friday to toss out an investor lawsuit that accused him and other Lehman officials of failing to disclose a controversial Repo 105 accounting technique used by Lehman.
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Hungary debt fears gnaw at euro

The possibility of a Hungarian debt crisis pushed the euro to a four-year low against the dollar on Friday and reignited fears more Eastern European nations could reveal financial frailties.
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Chrysler recalls more than 25,000 vehicles

Chrysler is recalling more than 25,000 Dodge Caliber and Jeep Compass vehicles to address the risk that accelerator pedals could become stuck and cause unintended acceleration, the automaker said on Friday.
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McDonald's recalls 12 million Shrek glasses

McDonald's Corp has recalled 12 million Shrek-themed drinking glasses in the United States after a federal agency warned consumers to stop using them because they contain the toxic metal cadmium.
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Homeownership rate may fall further: NY Fed study

The homeownership rate will drop further unless house prices rise substantially, as people who owe more on their mortgage than their house is worth become renters, according to a study released Friday.
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Wal-Mart to boost jobs 23 percent

Wal-Mart Stores Inc will add more than 500,000 employees in the next five years as it increases its global presence, even as it works to improve sluggish U.S. sales, CEO Mike Duke said on Friday.
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BP's Continued Existence Seen Coming Under Threat as Gulf Oil Spill Continues

The continued failure of BP's efforts to stop the Gulf oil spill and mounting political pressure are putting the very future of the British-based oil giant in question. BP shares plunged again on Tuesday, wiping $17 billion off the market capitalization of the company. Premiums on credit default swaps to insure the company's debt soared 75% to $178,000 for $10 million as analysts began to question whether the company can survive the financial and reputational costs of the Deepwater Horizon catas...
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AgBank IPO draft forecasts '10 net profit up 28 percent

Agricultural Bank of China , preparing for the world's largest-ever IPO, unveiled key financial figures on Friday, detailing plans to issue up to 47.6 billion new shares and forecasting a sharp rise in yearly net profit.

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