MARKETS / FINANCE

Obama calls jobless rise sobering

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President Barack Obama said on Friday the jump in the unemployment rate to 10.2 percent in October was a sobering figure that underscored the economic challenges ahead.

U.S. jobless rate deeper problem: PIMCO

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he U.S. unemployment rate, which rose more than expected in October to 10.2 percent, confirms a deeper and more protracted problem in the labor market, Mohamed El-Erian, chief executive of bond giant Pacific Investment Management Co (PIMCO), said in an interview on Friday.
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Stocks flat; broker upgrades offset jobs data

U.S. stocks barely budged in a choppy trading session on Friday, lifted by several broker upgrades that offset disappointing data showing the unemployment rate rose to its highest in more than 26 years.
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Stocks flat as broker upgrades offset jobs data

U.S. stocks were little changed in choppy trading on Friday as brokerage upgrades offset data showing the unemployment rate soared to 10.2 percent last month, its highest in more than 26 years.
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U.S. jobless rate hits 10.2 percent

The U.S. jobless rate unexpectedly jumped to a 26-1/2-year high of 10.2 percent last month, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.
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U.S. unemployment rate hits 10.2 percent

The U.S. unemployment rate unexpectedly jumped to 10.2 percent in October, breaching the politically sensitive double-digit barrier for the first time in 26-1/2 years, even though the pace of job losses slowed.
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Internet seen censorship liable to WTO challenge

Censorship of the Internet is open to challenge at the World Trade Organization as it can restrict trade in services delivered online, a forthcoming study says. A censorship case at the WTO could raise sovereignty issues, given the clear right of member states to restrict trade on moral grounds -- for example, by blocking access to child pornography websites.
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European shares fall back, U.S. jobs data weighs

European shares turned negative in afternoon trade on Friday after data showed U.S. employers cut 190,000 jobs in October, more than expected and driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years.
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Stock futures slide after bleak employment data

U.S. stock index futures pointed to a nearly 1 percent drop at the open on Friday as U.S. unemployment reached a more than 26-year high and topped the psychologically important 10 percent level.
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Gold hovers around $1,090, U.S. jobs data eyed

Gold held steady around $1,090 an ounce on Friday after its rally to a record high this week on anticipation of renewed central bank demand came to a halt, with investors looking to economic data for direction.
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U.S. jobless rate climbs to 10.2 percent

U.S. employers cut a deeper-than-expected 190,000 jobs in October, government data showed on Friday, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years.
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Jobless rate climbs to 10.2 percent

U.S. employers cut a deeper-than-expected 190,000 jobs in October, government data showed on Friday, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years.
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Banks help FTSE gain 0.2% ahead of U.S. jobs data

Britain's leading share index was up 0.2 percent approaching midday on Friday with a rally by banks offsetting weakness in oil majors in thin trade as investors await the key U.S. October jobs report.
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Stock futures edge up ahead of payrolls data

U.S. stock index futures rose slightly on Friday as investors awaited monthly payrolls data and the unemployment rate, key indicators to determine the strength of the economic recovery.
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AIG posts second consecutive quarterly profit

American International Group Inc , the insurer bailed out by the U.S. government, posted its second straight quarterly profit on Friday, helped by recovery in the value of its investments.
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G20 to stay the course on economic stimulus

The Group of 20 leading nations will agree this weekend it is too early to pull the plug on emergency support for the global economy and launch a new system of checks to help rebalance world growth and prevent future crises.
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Stock futures tick higher ahead of payrolls data

U.S. stock index futures were slightly higher on Friday as investors awaited monthly payrolls data and the unemployment rate, key indicators to determine the strength of the economic recovery.
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Calpers knew in 2003 about forex trading hits: report

California Public Employees' Retirement System, knew it was paying uncompetitive rates on foreign-exchange trades as early as 2003, the Wall Street Journal said, citing a consultant who advised the largest U.S. public pension fund.

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