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Wall Street heads higher as energy shares boost

Stocks shifted gears and headed higher on Wednesday as energy shares jumped after a government oil inventory report showed a huge drop in crude oil supply last week, boosting oil futures almost 4 percent.
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Macquarie buys U.S. asset manager for $428 mln

Macquarie Group Ltd, Australia's top investment bank, agreed to buy U.S. asset manager Delaware Investments for $428 million in cash from Lincoln National Corp, continuing a trend of consolidation in the fund management business.
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Oil rises towards $70 as U.S. demand recovers

Oil reversed early losses on Wednesday to rise back toward $70 a barrel, as data showing oil demand is recovering in the United States outweighed doubts about the strength of the global economy.
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Wall Street slips, following global markets

Stocks slipped on Wednesday, led by the industrial, materials and financial sectors, as a drop in Chinese shares prompted renewed selling in global equity markets on fears stock prices have outpaced the economic recovery.
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Views unchanged on Obama's healthcare plans: poll

Americans remain skeptical of President Barack Obama's healthcare reform drive, but their views have not changed much after weeks of sometimes angry protests at public meetings, according to an NBC poll released on Tuesday.
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Food stamp users risk weight gain: study

Packing on the pounds may be an unintended consequence of the U.S. Food Stamp Program, according to research that shows that getting food stamps may help contribute to obesity, at least among women.
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Global economic recovery has started: IMF

The global economic recovery has begun but sustaining it will require refocusing the United States toward exports and Asia toward imports, the International Monetary Fund's chief economist said.
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Sony rolling out new, cheaper PS3

Sony Corp will launch a slimmer, cheaper version of its PlayStation 3 game console next month, hoping to jumpstart sales and win back market share from rivals Microsoft and Nintendo.
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Tamiflu shelf-life extension up to countries: WHO

The World Health Organization said on Tuesday it was up to national regulatory authorities to decide whether to extend the shelf life of the flu drug Tamiflu by two years, as recommended by Swiss drug maker Roche.
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Swiss, U.S. sign accord to settle tax case: official

The Swiss and U.S. governments have signed an agreement involving giant Swiss bank UBS AG aimed at uncovering thousands of Americans who are suspected of evading U.S. taxes, a U.S. Justice Department official said on Wednesday.
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Baby boomers still getting high, U.S. agency says

Baby boomers, now well into middle age, are still turning on to illegal drugs, doubling the rates of illicit drug use for the older generation, according to U.S. government statistics released on Wednesday.
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Oil drops below $69 on China shares fall

Oil fell below $69 a barrel on Wednesday, at one stage losing more than $1, after a near 5 percent slump in Chinese shares sent doubts rippling through global markets about the strength of the world economic recovery.

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