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World recession easing, recovery fragile, IMF says

The global economy is slowly starting to pull out of its deepest recession since World War Two but recovery will be sluggish and policies need to remain supportive, the International Monetary Fund said on Wednesday.

Infineon shares soar on 250 mln euro wireless sale

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Shares in struggling German chipmaker Infineon Technologies AG soared on Wednesday after the company said it was selling its wireline communications unit (WLC) for 250 million euros ($349.5 million).

Best of rally in US REIT bonds likely past

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A dramatic rally in bonds of U.S. real estate investment trusts may not be sustainable as the sector faces a protracted slump in property values, low occupancy rates, and weakened credit markets.
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Bayer files for U.S. approval of Qlaira pill

Bayer, Germany's largest drugmaker, has filed for approval in the United States for a new birth control pill it started to market in Europe in May to shore up its best-selling contraceptives business.
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IMF sees improvement in global economy

The global economy is starting to pull out of its deepest recession since World War Two but recovery will be sluggish and policies need to remain supportive, the International Monetary Fund said on Wednesday.
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Hyundai Motor launches its first hybrid in South Korea

Hyundai Motor Co, South Korea's top carmaker, on Wednesday launched its first hybrid car in the domestic market to satisfy a growing appetite for fuel-saving vehicles and to improve the image of the company's technology.
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Federal-Mogul considering Delphi bid: sources

Federal-Mogul Corp (FDML.O) is readying a renewed bid for the assets of Delphi Corp (DPHIQ.PK) after breaking off talks with the bankrupt auto parts maker in late May, three people with knowledge of the situation said on Tuesday.
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U.S. drone strikes in Pakistan

Suspected U.S. drones fired six missiles into a Pakistani Taliban training camp near the Afghan border on Wednesday, killing six militants, government and intelligence agency officials said.
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U.S. mortgage fraud rampant and growing: FBI

U.S. mortgage fraud reports jumped 36 percent last year as desperate homeowners and industry professionals tried to maintain their standard of living from the boom years, the FBI said on Tuesday.
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Diary of July 8 G8 summit in Italy

The first day of the meeting will group the leaders of the Group of Eight -- United States, Britain, Germany, Italy, France, Russia, Canada and Japan -- plus European Commission President Jose Manuel Barroso and current EU president Sweden.
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Analysts' comments on draft G8 statement

Following are analysts' comments on a draft statement drawn up by the Group of Eight at their summit in Italy, covering a range of issues including energy markets and the need for reaching the Doha trade goals.
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World leaders in Italy for G8 summit

The leaders of the Group of Eight -- United States, Britain, Germany, Italy, France, Russia, Canada and Japan -- plus European Commission President Jose Manuel Barroso and current EU president Sweden gathered in Italy to discuss the end of recession, financial regulation, Doha trade round.
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Wall Street opens up after 10-week low

U.S. stocks rose on Wednesday as investors searched for bargains a day after shares fell to a 10-week low, while the start of quarterly earnings season was in focus.
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World starting to pull out of deep recession: IMF

The global economy is starting to pull out of its deepest recession since World War Two but recovery will be sluggish and policies need to remain supportive, the International Monetary Fund said on Wednesday.
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John Meriwether to shut hedge fund: report

John Meriwether's hedge fund firm JWM Partners LLC plans to close his current hedge fund, which lost 44 percent from September 2007 to February 2009, Bloomberg reported, citing a person familiar with the matter.
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Las Vegas Sands eyes $3-$4 billion fund raising

Las Vegas Sands, the world's largest casino firm, wants to raise $3-$4 billion and is considering several options including an IPO of its Macau assets in Hong Kong, Chairman and CEO Sheldon Adelson said on Wednesday.
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South Korea suspects North Korea behind cyber attacks

South Korean authorities issued a cyber security warning on Wednesday after the websites of government agencies and financial institutions were disabled by apparent hacker attacks, possibly linked to North Korea.

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