UNITED STATES

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Fed says economy is leveling out

The Federal Reserve said on Wednesday the U.S. economy was showing signs of leveling out two years after the onset of the deepest financial crisis in decades and it moved to phase out one emergency measure.

Top California gay group delays marriage fight to 2012

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The biggest California gay rights advocacy group on Wednesday said it needed three years to build a coalition to repeal a ban on same-sex marriage in the state, creating a rift in the movement with those who want to go back to the polls next year while anger is hot.

Fed says economy leveling out

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The U.S. Federal Reserve said on Wednesday the economy was showing signs of leveling out two years after the onset of the deepest financial crisis in decades and moved to shut down one emergency measure.
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Fed statement in August vs. Fed in June: What changed?

The Federal Reserve on Wednesday made two notable changes to its eagerly awaited policy meeting statement since its last meeting in June, as it upgraded its view of the economy and set a clear date to end its bond purchase program.
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No way to hide for U.S. tax cheats after UBS deal

The days of secret bank accounts are numbered for U.S. taxpayers and European tax dodgers should also watch out after the United States and Swiss bank UBS AG agreed to settle a tax evasion case.
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Fed extends time but not amount of debt buy

The U.S. Federal Reserve said on Wednesday the economy was showing signs of leveling out after 20 months of recession and it will extend the duration but not the size of a program to buy long-term government securities to minimize any disruptions from completing it.
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Market rises further after Fed's economy outlook

U.S. stocks added to gains on Wednesday as the Federal Reserve said it saw signs of a more stable economy, while an upbeat report from chip equipment maker Applied Materials boosted technology shares.
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SEC to bring action against Pequot Capital: source

The U.S. Securities and Exchange Commission has told former hedge fund manager Arthur Samberg that it planned to bring an enforcement action against his firm, Pequot Capital Management, according to a source familiar with the matter.
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UBS, U.S. settle tax evasion case

The days of secret bank accounts are numbered for Americans after UBS and the U.S. and Swiss governments agreed to settle a dispute over whether the Swiss bank should be forced to disclose the names of 52,000 rich U.S. clients suspected of tax evasion.
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Oil rises as optimism outweighs inventory build

Oil rose 1.5 percent on Wednesday as a stock market rally raised optimism about the economy, offsetting concerns about rising inventories and weak demand in top consumer the United States.
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U.S. trade gap widens on oil prices

A jump in oil prices helped widen the U.S. trade deficit in June, but a sharp fall in manufactured goods exports and imports appears to have stabilized, a Commerce Department report showed on Wednesday.
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Fed seen ending bond buys, holding rates steady

The Federal Reserve is expected to end its buying program of long-term government securities at a meeting that concludes on Wednesday, but keep U.S. interest rates steady at near zero amid signs the economy is stabilizing from a deep recession.
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Trade gap widens on oil prices

The U.S. trade deficit widened in June to $27.0 billion, as goods imports increased for the first time in 11 months on the back of higher oil prices, a Commerce Department report said on Wednesday.
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Antidepressant suicide risk varies by age: FDA

People under age 25 who take antidepressants have a higher risk of suicide, but adults older than that do not, an analysis by U.S. Food and Drug Administration researchers released on Tuesday showed.
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Mortgage applications drop as loan rates rise

U.S. mortgage applications fell last week, reflecting a drop in demand for home refinancing loans as interest rates soared to their highest levels since June, data from an industry group showed on Wednesday.

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