UNITED STATES

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Senators urge US to combat China currency policy

A group of 15 U.S. senators on Thursday insisted that China's currency practices are effectively a subsidy, and urged Commerce Secretary Gary Locke to take action. There can be no doubt that China's policy of large-sale intervention in the exchange markets and the significant undervaluation of its currency acts as a subsidy to Chinese exports, the senators said in a letter.

FOREX-Euro reverses losses vs dollar, touches session high

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The euro reversed losses against the U.S. dollar on Thursday and touched a peak for the session so far as U.S. stocks cut declines in afternoon trading. The euro hit a high of $1.3571 and was last changing hands at $1.3555, up 0.1 percent on the day, as the three main benchmark U.S. stock indexes pared declines.

Stock market pares losses as Greece fear subsides

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Greece woes returned to the headlines Thursday as reports of massive protests troubled investors and the threat of an S&P downgrade loomed. However, by the afternoon session, sentiments rebounded as U.S. stock pared losses.
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The Street's jobless recovery

When Matt Prendergast was laid off in 2008 after Bear Stearns collapsed, he expected to find a new job right away. With more than 20 years' experience as an investment banker, he thought he was sitting pretty.
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Oil falls over 2 percent on recovery concerns

Oil dropped more than 2 percent on Thursday to below $78 a barrel as weak U.S. employment and durable goods data raised more concerns about a recovery in the world's top energy consumer.
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Palm cuts revenue outlook on weak phone sales

Palm Inc slashed its revenue targets on weak demand for its smartphones, renewing concerns about its ability to compete against rivals like Apple Inc and sending shares down 16 percent.
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Oil falls 3 percent on recovery concerns

Oil fell more than 3 percent on Thursday to $77 a barrel, dragged lower by concerns over the outlook for the European economy and about the pace of U.S. recovery after a surprise jump in U.S. unemployment.
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Coke to buy North American bottling operations

Coca-Cola Co will take control of the North American operations of its top bottler, Coca-Cola Enterprises Inc , in a strategic reversal that would close a competitive gap after a similar deal by PepsiCo.
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Germany survives scare on rare lean day

Germany survived a scary moment on the world's fastest track in the women's Olympic bobsleigh competition and endured a rare day without a medal at Whistler's Sliding Center on Wednesday.
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Durable orders ex-transport slip, jobs data weak

Demand for a wide range of U.S. manufactured goods unexpectedly fell in January, while new applications for jobless benefits rose again last week, suggesting a step back in the economic recovery.
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China gold as Koreans disqualified

Joy turned to despair for South Korea on Wednesday when their victory lap was cut short by news of their disqualification gifting China the Olympic gold in the women's short track 3,000 meters relay.
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Durable goods orders surge in January

New orders for long-lasting U.S. manufactured goods rose more than expected in January as civilian aircraft bookings soared, but slipped excluding transportation, government data showed on Thursday.

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