MARKETS / FINANCE

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Dollar steadies after fall on growing risk appetite

The dollar steadied on Tuesday, keeping broad losses made the previous day, as growing hopes for a global economic recovery encouraged investors to shift funds to riskier assets from the greenback. The dollar was also under pressure from fund mangers trying to rebuild their portfolios at the start of the year by buying stocks, commodities and higher-yielding currencies.

Relax, have a cup of tea ..err 1/2 cup?

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Let's have a cup of tea is an offer that many can't resist in India.Meetings and discussions can't take place without this favourite beverage. But it is by no means unique to India, according to Food and Agriculture Organisation (FAO), it has become a global habit no matter the price. But in 2009, tea growers gained as production slumped due to bad weather in India, Sri Lanka and Kenya and tea prices zoomed to all time high.

Oil inches towards $82 in Asian trade

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World oil prices advanced near $82 a barrel in Asian trade Tuesday mainly on better demand for fuel as winter weather spreads to more areas in the northern hemisphere. Lights sweet crude for February delivery was seen trading at $81.84 a barrel at 12.00 noon Singapore time while Brent crude was at $80.47 a barrel at the same time.
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Metals are the best bet in 2010

Do you know among the commodities metals were the best performing ones in 2009? If not, remember that not only gold other metals also performed extremely well in 2009 riding on hopes for a global economic recovery and fears of runaway inflation.
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Wall Street cool on rumored Google phone launch

Google Inc is expected to unveil its highly anticipated Nexus One smartphone on Tuesday, marking a first foray into an increasingly crowded market that could shape the future of the company's advertising business.
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H&R Block settles nationwide IRA lawsuit

H&R Block Inc will pay as much as $20.2 million to settle a New York lawsuit accusing it of fraudulently marketing retirement accounts that caused hundreds of thousands of mostly lower-income clients to lose money.
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Tech showcase looks to regain wow factor

Technology leaders from Microsoft to Intel and Nokia will face new rivals; 3D-TV will be all the rage; and a flurry of glitzy wireless devices -- from e-readers to ever-smaller personal computers -- will make their debuts.
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Global factory output picks up steam in December

Chinese manufacturing grew at its fastest pace on record in December, data showed on Monday, while U.S. factories marked their best month in nearly four years, suggesting more improvement in the world economy.
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Fed's Duke sees low rates for extended period

The Federal Reserve sees a moderate economic recovery continuing in 2010, but needs to keep interest rates exceptionally low for an extended period to foster job growth, a Fed policymaker said on Monday.
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Global factory PMI jumps to near 4-year high

Global factory business activity grew at its fastest pace in nearly four years in December as new orders growth accelerated at a rate not seen in more that five and a half years, a survey showed on Monday.
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Recovery bets lift Wall Street as 2010 starts

Stocks climbed broadly on Monday after a report showed the manufacturing sector expanded for a fifth straight month, lifting confidence in the global economy as investors eye fourth quarter earnings.
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Manufacturing posts best showing since 2006

The U.S. manufacturing sector grew at its fastest pace in nearly four years in December, its fifth consecutive month of expansion, data showed on Monday, adding to hopes of economic improvement in 2010.
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Daily Forecast - 5/1/2010

The Australian Dollar opens higher on Tuesday at US91 cents as the greenback dropped across the board overnight.
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H&R Block settles nationwide IRA lawsuit: Cuomo

H&R Block Inc will pay as much as $20.2 million to settle a New York lawsuit accusing it of fraudulently marketing retirement accounts that caused hundreds of thousands of mostly lower-income clients to lose money.
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BofA CEO disagrees with bank break-up calls

Bank of America Corp Chief Executive Brian Moynihan said the financial industry needs to embrace a looming regulatory overhaul instead of fighting it, but added that breaking up the biggest U.S. banks would be a mistake.
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Indebted Dubai puts on brave face for tower opening

Dubai opened the world's tallest structure in a glitzy ceremony meant to put a brave face on crushing debt woes, leading some to wonder whether the tower is the emirate's crowning glory or its last hurrah.
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Wall Street starts 2010 with strong gains

U.S. stocks climbed in a commodities-fueled rally on Monday after data showed the manufacturing sector expanded for a fifth straight month, lifting confidence in a global economic recovery.
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ISM data, Intel give Wall St higher start in 2010

U.S. stocks rallied in the first session of the New Year on Monday, after data showed the manufacturing sector grew for the fifth straight month and a brokerage upgrade of Intel helped lift semiconductor stocks.
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Wall St off to strong 2010 start on ISM data, Intel

U.S. stocks climbed on Monday, rallying in the first session of the new year, after data showed the manufacturing sector expanded for the fifth straight month and a brokerage upgrade of Intel helped lift semiconductor stocks.
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U.S. judge rejects leniency for UBS informant

A U.S. judge on Monday rejected a request to consider reducing the prison sentence of a key informant in the tax fraud case against Swiss bank UBS AG, and he ordered former UBS banker Bradley Birkenfeld to start serving his 40-month sentence as scheduled this Friday.
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Wall St rises on higher oil, data on tap

U.S. stocks moved up at the open on Monday, the first trading day of 2010, on a rise in crude oil and other commodity prices and ahead of data expected to show expansion in the manufacturing sector.
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Key 2010 political risks in W.Europe

Whether Europe's most troubled economies have the political will to tackle record deficits will preoccupy investors in Western Europe in 2010, along with Britain's election and potential overspill from emerging market crises.
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Dollar falls on caution before U.S. data

The dollar fell on Monday, reversing earlier gains on caution ahead of upcoming U.S. data, which left investors wary of pushing the currency up further after it earlier hit a four-month high versus the yen.
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Oil hits $81 on Belarus

Oil rose to $81 a barrel on Monday, the highest in more than two months, on news that Russia has halted oil supplies to Belarus and on cold weather in the United States.

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