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Futures up on telecoms takeovers, data eyed

Stock index futures rose on Monday, boosted by takeover news in the telecommunications sector and before a report on manufacturing activity that could give clues on the outlook for profits.

Bank of America says U.S. Trust clients staying on

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Bank of America Corp. said on Monday it completed its $3.3 billion purchase of the U.S. Trust business from Charles Schwab Corp., and is defying analyst concern that it would have trouble retaining many of U.S. Trust's ultra-wealthy clients.
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Citigroup's Japan Expansion

After more than 100 years as a niche player in Japan, the world's largest financial firm is expanding its retail operations.
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Universal Music declines long-term iTunes deal: source

Universal Music Group, the world's largest music company, has declined to sign a long-term deal with Apple Inc.'s iTunes music store, leaving open the possibility for exclusive deals with other services, an industry source said on Sunday.
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Danone LU arm to meet staff amid sale talk: source

The LU biscuits division of French food group Danone is due to meet trade union representatives on Tuesday to discuss possible changes at LU, a trade union source said, amid rumors the unit might be sold.
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Macquarie funds buy Global Tower in $1.4 bln deal

Global Tower Partners, a U.S. wireless tower operator, is to be bought by a consortium of infrastructure funds managed by members of Australia's Macquarie Group in a deal valued at $1.4 billion.
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Coles, Wesfarmers shares on trading halt

Trading in the shares of Australian retailer Coles Group Ltd. and conglomerate Wesfarmers Ltd. was halted on Monday for talks on a bid by Wesfarmers for Coles that could be worth up to A$20.7 billion ($17.7 billion).
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England stubs out smoking

England slammed the door on smoking in bars, workplaces and public buildings on Sunday in what campaigners hail as the biggest boost to public health since the creation of the National Health Service in 1948.
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Ratatouille seen as test of Disney-Pixar deal

Walt Disney Co.'s animated movie 'Ratatouille' opens on Friday against strong competition from better-known franchise films, drawing early industry skepticism that it can match its predecessors' success and posing a challenge for Disney.
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House Democrats rebuff Bush on trade deals

U.S. House of Representatives Democratic leaders quashed White House hopes on Friday for quick renewal of fast track trade negotiating authority and said they cannot support trade pacts negotiated with South Korea and Colombia.
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N.Korea reactor closure date needs 6-way talks: IAEA

The U.N.'s nuclear watchdog has clarified how to monitor the shutdown of North Korea's nuclear facility and it is now up to Pyongyang and its five negotiating partners to decide on a date, an official said on Saturday.
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Thousands of tech fans snap up first iPhones

Thousands of U.S. gadget fans flocked to stores on Friday to be the first buyers of Apple's iPhone, a music-playing and Web-browsing device expected to shake up the mobile industry.
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SEC sues firm over alleged bogus takeover bids

U.S. securities regulators on Friday sued a partnership and one of its founders, alleging they made bogus offers to buy such well-known entities as Sony Corp. and Playboy Enterprises Inc. in an effort to manipulate their stock prices.
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AT&T says to buy Dobson for $2.8 billion

U.S. telecommunications company AT&T Inc. said on Friday it will buy rural wireless carrier Dobson Communications Corp. for $2.8 billion in cash to expand its reach in rural and suburban markets.
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Female ex-employees sue KBR, Hallburton: report

KBR Inc. and its former corporate parent Halliburton Co. have been sued by four women claiming they suffered sexual harassment and, in two cases rape, by co-workers while working for KBR in Iraq, the Houston Chronicle reported on its website Friday.
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Jobs, subprime mess to rule July 4th week

Investors are hoping the coming week brings some answers to the question of whether an improving U.S. economy unleashes inflationary forces, and one place to look will be in the June payrolls data.
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Wall Street drops on credit concerns

U.S. stocks fell on Friday as banks and brokers retreated on concerns about the impact of tightening credit on takeovers and the subprime mortgage industry.
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UAW members approve concessions deal with Delphi

United Auto Workers union members have approved a deal that gives Delphi Corp. concessions on wages, benefits and plant closings that the auto parts maker has said it must have to exit bankruptcy.
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Move away from dollar reserves still all talk

Central bank holdings of U.S. dollars continue to mount, despite talk of diversification into other currencies, but questions remain about the sustainability of the rise in dollar reserves.
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Fearing risk, debt investors demand more protection

Scared by losses at two hedge funds that invested in securities backed by home loans, investors in securities backed by mortgages, junk bonds, and other assets are demanding more protection for the first time in years.
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Ford says ahead of turnaround plan targets

Ford Motor Co. is ahead of where it expected to be in reducing an overhang of excess production capacity at this point in its turnaround effort and has made encouraging progress in stabilizing its U.S. market share, a senior executive said on Friday.

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