UNITED STATES

Oil drops to $71 as Chinese stocks fall

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Oil fell more than 2 percent to around $71 a barrel on Monday as a drop in China's key stock index stoked worries about the pace of economic recovery and a revival in energy demand.

China's BYD says Buffett wants to raise stake

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U.S. billionaire Warren Buffett intends to raise his stake in Chinese electric car and battery maker BYD Co Ltd , BYD's chairman said on Monday, sending shares in his company up 8 percent.
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Dangerous hurricane headed for Baja California

Hurricane Jimena, a dangerous Category 4 storm off Mexico's Pacific Coast, was on track to buffet resorts on the Baja California peninsula on Tuesday, the U.S. National Hurricane Center said.
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Japan Democrats' win may buoy Nikkei, dent JGBs

A historic election win for Japan's opposition Democratic Party on Sunday is likely to buoy Tokyo shares on hopes for less policy deadlock, putting pressure on Japanese government bonds and the yen.
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Funds of hedge funds fight back after Madoff

The fund of hedge funds industry is being forced to reinvent itself after the Madoff scandal and hefty client outflows, and will emerge from the crisis smaller but in better shape than many had expected.
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Citi investors should take profits: Barron's

Investors that bought Citigroup Inc shares should take profits after the U.S. bank's shares climbed almost 100 percent in the last month, Barron's said in its August 31 edition.
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AIG shares look overpriced: Barron's

Shares of insurance giant American International Group soared more than 50 percent last week and they now look overpriced, Barron's said in its August 31 edition.
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India losescontact with Moon Orbiter

India's national space agency said that communications with its first unstaffed spacecraft to orbit the moon were lost on Saturday and that its scientists were no longer controlling the orbiter.
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U.S. judge may decide Asarco's fate as soon as Monday

A U.S. federal judge is expected to decide on Monday whether Grupo Mexico or India's Sterlite Industries will control Asarco LLC, bringing the U.S. copper miner a step closer to leaving bankruptcy after four years.
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Obama's Portuguese water dog

Senator Kennedy had a real love for Portuguese Water Dogs and his gift to the Obamas was a Portuguese Water Dog.
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Capitalism the villain as Moore movie hits Venice

The Venice film festival has capitalism in its sights this year, with premieres of Michael Moore's documentary on the U.S. economic meltdown and a drama starring Matt Damon as a corrupt corporate whistleblower.
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EMC co-founder Richard Egan dies

The billionaire co-founder of top data storage equipment firm EMC Corp (EMC.N), Richard Egan, died on Friday, a spokesman for the company said in an emailed statement.
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For stocks, summer ends with jobs data

The last week of summer could prove to be anything but relaxing for stock investors worried about the economy, with the crucial August jobs report on the agenda.
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Iran's Ahmadinejad may face battle over new cabinet

President Mahmoud Ahmadinejad's proposed new cabinet came in for criticism from some lawmakers in a heated parliamentary debate Sunday, but one senior MP signaled support for the surprise oil minister nominee.
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Lockerbie bomber release linked to oil deal: report

Britain agreed to include Lockerbie bomber Abdel Basset al-Megrahi in a prisoner transfer deal with Libya because of overwhelming interests shortly before an oil deal was sealed with Tripoli, a newspaper reported on Sunday.
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Rep. Frank eyes Fed audit, emergency lending curbs

Rep. Barney Frank, the chairman of the U.S. House of Representatives Financial Services Committee, said he plans legislation to restrict the Federal Reserve's emergency lending powers and subject the central bank to a complete audit.
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Rep. Frank seeks compromise on Fed audit bill

Rep. Barney Frank, the chairman of the U.S. House of Representatives Financial Services Committee, hopes to craft a compromise bill with lawmakers who want to open Federal Reserve monetary policy decisions to audits, a spokesman for Frank said on Saturday.
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Obama hails Kennedy as greatest legislator

President Barack Obama hailed Senator Edward Kennedy as the greatest legislator of our time at the funeral on Saturday of the towering politician and patriarch of the pre-eminent American political dynasty.

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