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Asia stocks dip from 1-year high, dollar battered

Asian stocks drifted lower after initially hitting a one-year high on Wednesday and the dollar hovered near a one-year low, with investors taking a breather from moving money into riskier assets in the hope that the global recovery is strengthening.

Mexico plans more taxes, cuts in bureaucracy

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Mexican President Felipe Calderon asked Congress on Tuesday to raise taxes and slash spending on government bureaucracy to prop up public finances as the country languishes in a deep recession.
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Oil steady after dollar-led gains; OPEC eyed

Oil prices held steady around $71 a barrel on Wednesday, consolidating the previous session's dollar-driven 4.5 percent rally as investors waited for an OPEC meeting to conclude and fresh U.S. inventory data.
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Karzai headed for poll win; recount ordered over fraud

Afghan election returns on Tuesday put President Hamid Karzai on course for a first-round victory, but a watchdog that can veto the outcome said it had found clear and convincing evidence of fraud and ordered a partial recount.
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GM board weighs cost to keep Opel unit

The board of General Motors Co began meeting in Detroit on Tuesday as the German government stepped up pressure on the automaker to clarify its long-term plans for its European Opel operations.
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Suntech says solar demand has turned up

Global demand for solar power has improved substantially in the last month, led by top solar market Germany, Suntech Power Holding Co Ltd Chief Strategy Officer Steven Chan said on Tuesday.
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Producers seek bankruptcy trustee for Semgroup

Energy producers have asked a U.S. judge to appoint a trustee to run Semgroup, an oil and gas services company that has been in bankruptcy for more than a year, the producers' lawyer said on Tuesday.
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Melanie Oudin shining in U.S. Open (Photos)

U.S. player Melanie Oudin is generating media buzz after beating top-quality players including Elena Dementieva, Maria Sharapova and Nadia Petrova and advancing to the quarterfinals at the U.S. Open tournament.
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Job market dips in August: Conference Board

A gauge of the strength of the U.S. job market fell slightly in August and pointed to a flat employment market for the rest of the year, a research group said on Tuesday.
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Google tells EU online books make Web democratic

Google, the Internet search group, defended its scanning and publishing of millions of books online on Monday by saying the project was making finding information on the Web more democratic.
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U.S. says NY Ponzi operator diverted money for porn

A New York money manager has been arrested and charged with running a $40 million Ponzi scheme over three decades, diverting some investor money to a pornography mail-order business, investigators said.
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Sprint offers $100 credit to new Pre users

Sprint Nextel Corp hopes to lure customers from rival service providers with a special $100 service credit for new subscribers who buy Palm Inc's Pre, essentially giving the device a 50 percent price cut a few months after it started selling the phone.
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EU seriously concerned by Israel settler approval

The European Union expressed serious concern on Tuesday about Israel's decision to approve new settler homes in the occupied West Bank, calling them an obstacle to peace and adding to international condemnation.
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Obama asks students to set school-year goals

President Barack Obama will challenge students to set goals and to do everything you can to meet them in a back-to-school speech that critics feared would promote a political agenda.
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Kraft shares sink after Cadbury rejects offer

Kraft Foods Inc shares fell about 5 percent in heavy trading on Tuesday, a day after the giant U.S. food company went public with a $16.7 billion takeover bid for Cadbury PLC, which the British candy maker rejected.

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