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Wall Street set to fall on bank, global flu jitters

Wall Street was set for a drop of about 1 percent at the open on Tuesday as a report that Bank of America Corp and Citigroup Inc may need more capital revived fears about the stability of the struggling financial sector.

Office Depot posts loss

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Office Depot Inc reported a quarterly loss on Tuesday as consumers and small business customers reduced their spending on large ticket items like furniture and computers.

Pfizer profit beats forecasts

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Pfizer Inc reported a better-than-expected first-quarter profit on Tuesday, as cost-cutting helped offset sharply lower sales of its Lipitor cholesterol fighter and its Chantix smoking-cessation drug.
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Drop in U.S. home prices slows

Prices of U.S. single-family homes fell 18.6 percent in February from a year earlier but the rapid pace of decline slowed, perhaps indicating the housing market may be nudging closer to a bottom, according to Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday.
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BP adjusts to $50 oil as profits collapse

British oil major BP Plc said it was learning to live with oil at $50 per barrel by slashing costs, after the crude price collapse sent first-quarter profit plummeting and debt levels higher.
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Stock futures lower on bank, global flu jitters

Stock futures pointed to a lower open on Tuesday as a report that Bank of America Corp and Citigroup Inc may need more capital revived fears about the stability of the struggling financial sector.
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U.S. bank, flu fears chill stabilization hopes

Fears about a possible global flu crisis and renewed worries over the capital health of some U.S. banks combined on Tuesday to rattle economists' hopes the financial system was stabilizing.
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GM offers final survival plan

General Motors Corp on Monday offered its final plan to reorganize outside bankruptcy by slashing bond debt, cutting over 21,000 more U.S. jobs and emerging as a nationalized automaker under majority control by the U.S. government.
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Oil falls 2 percent towards $49 on flu, bank jitters

Oil prices extended losses on Tuesday, falling about 2 percent toward $49 a barrel after a report that Citigroup and Bank of America may need to raise more capital, renewing worries about the financial sector.
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Oil extends losses, falls below $50 on flu fears

Oil prices extended losses and fell below $50 a barrel on Tuesday, as a rising death toll from a flu outbreak that started in Mexico fanned fears of a pandemic potentially hurting the world economy and air travel.
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U.S. faces too many regulators: executives

Too many regulators currently watch over U.S. companies and a fear that some industries may soon face even more rules could be hurting the U.S. recovery, two top financial industry executives said.
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Pontiac RIP: storied brand falls victim to crisis

After 83 years of storied history and with a huge following for its famous older models, Pontiac on Monday became the highest-profile victim of the U.S. auto industry crisis with General Motors Corp's announcement the brand would cease to exist in 2010.
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Stirling expands with new solar-thermal power plant unit

Phoenix-based Stirling Energy Systems announced Monday it is expanding by launching Tessera Solar, a new unit to manufacture the products used to build large solar-thermal power plants in the U.S. and the rest of the world.
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Obesity becoming U.S. civil rights issue for some

Kate Harding has spent most of her life on one diet or another, losing weight but always gaining it back. Determined to improve her quality of life, she joined a fast-growing group of anti-dieting activists promoting overweight people's civil rights.
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What the Fed is considering at this week's meeting

The Federal Reserve meets this week at a time when the U.S. economy has shown some signs of improvement, and the central bank is likely to restate its support for boosting the economy through both conventional and unorthodox means.
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IRS says set to pursue other banks on tax evasion

The U.S. Internal Revenue Service is preparing to pursue other foreign banks for allegedly facilitating tax evasion by wealthy Americans following its high-profile case against Switzerland's UBS AG , an IRS official said on Monday.
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Daimler reaches deal to offload Chrysler

Daimler AG on Monday reached an agreement with Chrysler, the U.S. automaker's owner Cerberus Capital Management, and the U.S. Pension Benefit Guaranty Corp to exit its 19.9 percent stake in the company.

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