MARKETS / FINANCE

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Financials slam Wall Street; eBay drops late

U.S. stocks fell on Wednesday, hurt by a late sell-off in financial shares after an influential bank analyst recommended selling Wells Fargo shares and a wider-than-expected loss from Boeing disappointed investors.

Key lawmaker backs FCC on eve of Web rule

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A key U.S. lawmaker said on Wednesday that he backs a Federal Communications Commission proposal to establish an open Internet rule and would consider legislative action if the industry challenged it in court.

Wall St drops as financials fall in late sell-off

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U.S. stocks fell on Wednesday, hurt by a late sell-off in financial shares after an influential bank analyst recommended selling Wells Fargo shares and a wider-than-expected loss from Boeing disappointed investors.
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Firms, workers differ on why people stay in jobs

Employers and employees have dramatically different opinions of why workers remain in their jobs, says research released on Tuesday showing U.S. companies may struggle to retain employees in an improved job market.
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Wall St loses ground; Boeing, Wal-Mart slide

U.S. stocks turned lower heading toward the close on Wednesday as a drag from Boeing Co and Wal-Mart Stores Inc offset gains in the natural resources sector and reassuring profits in banking and technology.
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Wall St rises on commodity, profit boost

U.S. stocks rose on Wednesday as the U.S. dollar's weakness lifted shares of natural resources companies, while Morgan Stanley and Yahoo Inc added to optimism about corporate profits.
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Fed says economy perked up from depressed levels

U.S. economic conditions stabilized or improved modestly in most parts of the country, according to a Federal Reserve report on Wednesday that suggested the economy was slowly clawing out of a recession.
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Canada allows Web traffic throttling as last resort

Canada's main telecom regulator said on Wednesday it will let Internet service providers slow or throttle traffic such as file-sharing that the companies say threatens to overwhelm their networks -- but only as a last resort.
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Google, labels partner on music search: sources

Google Inc is partnering with major music labels to launch a new feature to make it easier to discover, sample and buy songs on the search engine, according to two people familiar with the plan.
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Madoff shared prison cell with drug dealer

Epic swindler Bernard Madoff shared a prison cell with a 21-year-old drug dealer, and other fellow inmates included a spy and a mob boss when he was sent to prison in July, according to court documents.
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Galleon winding down; potential buyers reported

Hedge fund firm Galleon Group said it is winding down its funds, less than a week after its founder was arrested and charged with running one of the biggest insider-trading schemes ever involving a hedge fund.
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Galleon winding down its funds

Hedge fund firm Galleon Group said it is winding down its funds, less than a week after its founder was arrested and charged with running one of the biggest insider-trading schemes ever involving a hedge fund.
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Morgan Stanley profit ends losing streak

Morgan Stanley reported better-than expected third-quarter profit on Wednesday with results bolstered by strong fixed income sales and trading revenue and improved investment banking underwriting results.
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Ex-banker Simonson maps path to Nokia throne

A management revamp at Nokia following a record loss has given 51-year old chief financial officer Rick Simonson a shot at becoming the first non-Finnish chief executive of the world's largest handset maker.
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Verizon CEO criticizes net neutrality proposal

Verizon Communications Chief Executive Ivan Seidenberg said on Wednesday the current debate about net neutrality is extremely troubling and risks halting progress in broadband development.
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Banks boost Wall Street after solid earnings

Stocks gained on Wednesday as results from banks including Morgan Stanley and Wells Fargo topped expectations, and on increased optimism about the profit outlook for the technology sector.
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Yahoo triples profit, beats expectations

Yahoo Inc beat Wall Street's profit and sales expectations as spending by advertisers showed signs of life in the third quarter and as months of cost-cutting and restructuring boosted the Internet company's bottom line.
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Oil eases below $79 as inventories weigh

Oil eased to below $79 a barrel on Wednesday, extending the previous session's decline from a one-year peak after a bigger-than-expected rise in U.S. crude oil inventories.
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Stock futures lower after Boeing loss

Stock futures pointed to a lower open on Wednesday after Dow component Boeing reported disappointing quarterly results and on increased concern that a market pullback looms.
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Morgan Stanley profit falls, but beats estimates

Morgan Stanley reported a better than forecast third quarter profit on Wednesday, helped by strong fixed income sales and trading revenues, ending a string of three straight losing quarters.
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UPDATE 1-PlainsCapital sees IPO priced at $14-$16/sh

Plains Capital Corp, a Dallas-based bank holding company and mortgage lender, said it expects its initial public offering of 15 million shares to be priced at $14 to $16 a share, in what could be the first IPO by a bank in more than two years.
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Central Asian Jews rebuild homeland in NY enclave

For two decades, Aron Aronov has transported embroidered garments, oil portraits of rabbis and other examples of traditional Bukharian Jewish culture from his native Uzbekistan to a small museum in New York.

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