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Asian shares slide, Shanghai leads

Asian shares tumbled from multi-month peaks on Wednesday, in a sell-off led by the Shanghai market, as investors booked in profits ahead of more company earnings.

American Air aims for alliance approval by October

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American Airlines expects to win U.S. approval by October to form an alliance with British Airways and Spain's Iberia , and it is pinning its hopes on intra-alliance competition and global partnerships to help it survive, an executive said on Wednesday.

Sanofi ups earnings growth goal, sees cost cuts

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Sanofi-Aventis raised its earnings growth goal for this year and said new cost savings should result by 2013 in a net profit and sales level similar to 2008 as the French drugmaker grapples with patent expiries.
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Senate may drop public healthcare option

Lawmakers on both sides of the U.S. Capitol struggled to reach a healthcare deal on Tuesday, with Senate Democrats near agreement with three Republicans on a plan that would not include a government-run insurance option backed by President Barack Obama.
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U.S. and China sign memorandum on climate change

The United States and China, the world's largest emitters of greenhouse gases, signed an agreement on Tuesday that promises more cooperation on climate change, energy and the environment without setting firm goals.
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Stimulus creates, saves more jobs in June: committee

The number of jobs created or saved by infrastructure projects funded by the U.S. economic stimulus plan more than doubled in June from May, according to a report released Tuesday by a House of Representatives committee.
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Daily Wrap Up - July 28 - Energy

China and the United States signed a memorandum promising greater cooperation in tacking climate chaneg, energy and the environment. BP Plc and Valero Energy Corp. reported earnings for the second quarter reflecting the economic downturn has hit hard the oil industry.
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Apple partners with China Unicom for huge iphone market

China Unicom, the country's second largest wireless carrier, has reached an agreement with Apple as its sole iPhone partner in China for three years, and Apple's 3 G iPhone will be sold by the end of September, the ccidnet.com reported on Tuesday.
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U.S., China vow closer ties to lead global recovery

The United States and China agreed on a broad framework of cooperation on Tuesday as they strive to lead the global economy out of recession and forge a closer alliance on tough environmental and political issues.
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Courts approve Nortel wireless sale to Ericsson

The $1.13 billion sale of Nortel Networks' prized wireless assets to Swedish telecoms equipment maker Ericsson received the blessing of Canadian and U.S. courts on Tuesday, with a U.S. bankruptcy judge praising the bidding process.
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Daily Wrap Up - Tech July 28

The $1.13 billion sale of Nortel Networks' prized wireless assets to Swedish telecoms equipment maker Ericsson received the blessing of Canadian and U.S. courts on Tuesday, with a U.S. bankruptcy judge praising the bidding process.
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China protests exiled Uyghur leader's visit to Japan

Exiled Uyghur leader Rebiya Kadeer has arrived in Japan despite China's displeasure, and China in response strongly condemned Japan for allowing the visit as she was accused of instigating the deadly ethnic riots in Xinjiang.
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iPhone App Locator tracks Sex Offenders

Sex offenders have nowhere to hide. People who use iPhone with Offender Locator application can now be able to locate sex offenders to all the 50 states of US.
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Obama, Gates and Cowley to meet Thursday at the White House

President Barack Obama will on Thursday at 6pm EST meet with Harvard University scholar and the policeman who arrested him at the White House which according to chief White House spokesman, Robert Gibbs, will be about having a beer and de-escalation.
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White House repeats F-22 veto threat

The Obama administration repeated on Tuesday a threat to veto an annual defense spending bill if it included money to continue Lockheed Martin Corp's F-22 aircraft production line.
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A sweet legislative honeymoon for Obama

The struggle in the U.S. Congress over healthcare reform has led to speculation that Democrats' honeymoon with Democratic President Barack Obama is coming to an end, six months after he took office.
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Congress pushes for healthcare deal

Lawmakers on both sides of the Capitol pushed for a healthcare reform deal on Tuesday, with Senate Democrats near agreement with three Republicans on a plan unlikely to include a government-run insurance option backed by President Barack Obama.

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