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BofA: Credit card loss rate could have peaked in Q3

Bank of America Corp's credit card loss rate may have peaked in the third quarter, but it will remain elevated for a substantial number of quarters, the bank's head of consumer banking said on Thursday.

Insider trading probe ensnares 14 more

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Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers.

Fannie Mae posts $18.9 billion Q3 loss, taps Treasury

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Fannie Mae, the largest provider of funding for U.S. home loans, said on Thursday bad mortgages and a federal foreclosure prevention program left it with a $18.9 billion loss, forcing it to tap the Treasury again to plug a hole in its net worth.
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Starbucks beats view, raises targets

Starbucks Corp raised its financial forecasts for 2010 in the latest sign a year-long turnaround effort is boosting margins and putting it back on track for growth, sending shares up 4 percent.
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No decision yet on Oprah Winfrey move to cable

Oprah Winfrey has not yet made a decision on a possible move of her syndicated chat show -- one of the TV industry's biggest money makers -- to her new cable network OWN, her production company said on Thursday.
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Daily Wrap Up - Nov 5

Widespread recovery doubts; More Caught in Trading Scandal; Microsoft-Yahoo Pact May Go Global
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Malawi threatens arrests over Madonna school row

Malawi threatened on Thursday to arrest protesting villagers blocking construction of Madonna's multi-million dollar girls academy, a new controversy for the singer in the African country where she has adopted two children.
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Aid for jobless, homebuyers clears Congress

The U.S. Congress approved more aid for jobless workers and broadened tax breaks for homebuyers and businesses on Thursday and sent the measure to President Barack Obama to sign into law.
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Health reform gets boost before close vote

With a close vote looming in the U.S. House of Representatives, President Barack Obama's push for healthcare reform was boosted Thursday by the support of powerful lobbies representing doctors and seniors.
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Climate treaty may need extra year

A U.N. climate treaty may need an extra year beyond a December deadline to agree details, delegates at U.N. talks said on Thursday even as a U.S. Senate committee approved a carbon-capping bill.
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Stocks rally on economic data, Cisco

U.S. stocks jumped on Thursday, pushing the S&P 500 up for a fourth day, as economic data boosted confidence in the recovery and strong results from Cisco Systems suggested a rebound in technology spending.
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EDF Energies Nouvelles coping well in the crisis

The current economic climate is favorable for French wind and solar power company EDF Energies Nouvelles as equipment prices remain low and banks are more prepared to lend, its chief executive said.
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Climate bill to force refinery closures: Petroplus

An international pact and U.S. legislation to tackle climate change will hit oil refiners' profits and may force some to shut some capacity, Thomas O'Malley, chairman of Swiss refiner Petroplus, said on Thursday.
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Sen. Schumer assails Texas wind power project

U.S. Senator Charles Schumer called on the Obama administration on Thursday to block the use of any U.S. economic stimulus funds for a wind farm project in West Texas that would use turbines built in China.
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Verizon to sell HTC Android phone for $99.99

Verizon Wireless said on Thursday that it would sell an HTC Corp phone based on Google Inc's Android system for $99.99, potentially putting pressure on smaller carrier Sprint Nextel Corp .
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KBC favors wind over sun in renewable investments

Investing in wind power offers safer, less volatile returns in the current market environment than the solar sector, a fund manager of KBC's asset management arm told Reuters. We as investors like strong, steady growth, which is why we currently favor wind more than solar, which is expected to see more volatility in the short term, said Treasa Ni Chonghaile, manager of KBC's Eco Alternative Energy fund.
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Charles Schwab expects 28 pct jump in fee waivers

Charles Schwab Corp expects to waive about $100 million in money market fees in the current quarter, up 28 percent from the previous quarter, the largest U.S. discount brokerage said on Thursday.
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Stocks jump on economic data, Cisco

U.S. stocks rose sharply on Thursday, pushing the S&P 500 up for a fourth day, as economic data boosted confidence in the recovery and strong results from Cisco Systems suggested a rebound in technology spending.
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Opel workers in Germany vent anger at GM

GM cited improving business conditions and the strategic importance of Opel, its European backbone, which also provides technology the group uses around the world.
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Productivity surges, job growth should follow

U.S. business productivity grew at its fastest clip in six years in the third quarter and new claims for jobless aid fell to a 10-month low last week, suggesting the labor market may be starting to bottom out.
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SEC official worried about naked access

A top U.S. securities regulator said on Thursday that she was concerned about naked access, where brokers give high-frequency traders unfiltered access to public markets.
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Chrysler offers revival plan but skeptics remain

Chrysler's new boss offered an ambitious outlook for the automaker on Wednesday, saying it would more than double sales, roll out a dozen new models built on Fiat platforms and pay back debt to U.S. taxpayers over the next five years.
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Ford meeting informally with UAW on costs

Ford Motor Co will continue meeting informally with United Auto Workers leaders to discuss labor issues following the rejection of concessions by U.S. rank-and-file workers, a top executive said on Wednesday.

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