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IMF ups 2010 global growth estimate

The International Monetary Fund has raised its global growth estimates for 2010 to 2.4 percent from 1.9 percent in April because of stimulus measures taken in recent months, a G8 source who has seen the latest figures said.

Fresh data offers hope on economy

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U.S. retail sales rose for the first time in three months in May and the number of workers filing new claims for jobless benefits last week hit the lowest level since January, suggesting the recession was abating.
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NATO backs Kosovo force cut, studies more

NATO nations agreed on Thursday to cut their 10-year-old peacekeeping operation in Kosovo from around 14,000 troops to 10,000 in coming months, with further reductions planned if security allows.
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Toyota sees 25,000 U.S. sales of new Lexus hybrid

Toyota Motor Corp expects to sell about 25,000 of its all-new dedicated hybrid car for the Lexus premium brand in the United States in the first 12 months of its sale, an executive said on Wednesday.
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U.S. solar financing set to rebound: experts

Financial players who abandoned U.S. solar energy projects last year during the throes of the banking crisis are beginning to return, potentially setting up a boom of new deals by the end of the year, several solar investors said on Wednesday.
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U.S. green economy needs plan to hit potential: study

The United States should pass a comprehensive energy plan to ensure the number of jobs in environmental fields, such as renewable energy and cutting air pollution, will keep rising as they did in the decade to 2007, a Pew report said on Wednesday.
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Solar stocks rally on China support, oil prices

Solar stocks rallied on Wednesday as investors bet that increased Chinese interest in solar power, higher oil prices and signs of improvement in lending and financing will help spur demand for the clean energy source.
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Gasoline boosts retail sales

Sales at U.S. retailers rose in May and the number of workers filing new applications for jobless benefits fell for a fourth straight week last week, according to official data on Thursday that suggested the recession was abating.
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Egypt's Mubarak says Obama has new approach to Islam

Barack Obama has presented a fresh understanding of Islam not shown by predecessors, Egyptian President Hosni Mubarak said in his first interview since the U.S. president addressed the Muslim world from Cairo.
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Daily Commentary - 11/06/2009

The Australian Dollar opens largely unchanged from this time yesterday at 0.8015. The Aussie received a boost on Wednesday from a 12.7 per cent rise in May consumer sentiment – the largest monthly increase in 22 years.
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Gasoline sales boost U.S. retail sales

Sales at U.S. retailers rose for the first time in three months in May as expected, lifted by strong gasoline and building material receipts, according to a government report on Thursday that bolstered views the recession was abating.
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Gasoline boosts U.S. retail sales

Sales at U.S. retailers rose for the first time in three months in May as expected, lifted by strong gasoline and building material receipts, according to a government report on Thursday that bolstered views the recession was abating.
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China investment surge boosts recovery hopes

Chinese investment surged in May, fanning hopes the world's third-largest economy may lead a global recovery, although a record slump in Japan's first quarter GDP reinforced expectations any rebound would be slow.
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Wall Street set to rise as data eyed

Wall Street was set to open flat to higher on Thursday, with investors eyeing retail sales and weekly jobless data for fresh insight into the state of the recession-hit economy.
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IEA sees start of recovery in oil demand

World oil demand will contract by less than previously expected in 2009, the International Energy Agency said on Thursday in a further sign the economic outlook may have stopped deteriorating.
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China's Beijing Auto interested in Volvo: report

Beijing Automotive Industry Holding Corp is interested in buying Ford Motor Co's Volvo car unit, the Wall Street Journal reported, adding a new name to a list of potential Chinese bidders for the Swedish luxury car brand.
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May U.S. foreclosures third highest on record

U.S. foreclosure activity for May ebbed from April's record, but mortgages still failed at a staggering pace as President Barack Obama's rescue programs had not had time to fully take root, RealtyTrac said on Thursday.
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May U.S. foreclosures 3rd highest on record

U.S. foreclosure activity for May ebbed from April's record, but mortgages still failed at a staggering pace as President Barack Obama's rescue programs had not had time to fully take root, RealtyTrac said on Thursday.
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May U.S. foreclosures 3rd highest on month on record

U.S. foreclosure activity for May ebbed from April's record, but mortgages still failed at a staggering pace as President Barack Obama's rescue programs had not had time to fully take root, RealtyTrac said on Thursday.
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Ahmadinejad's economic record may sway Iran vote

If Iranian voters deny President Mahmoud Ahmadinejad re-election on Friday, it may be more a verdict on his economic performance than on his fierce rhetoric against the United States and Israel, his defense of Iran's nuclear policy or his persistent questioning of the Holocaust.
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California nears financial meltdown as revenues tumble

California's government risks a financial meltdown within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state's controller said on Wednesday.

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