MARKETS / FINANCE

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Hartford Financial names ex-BofA exec as new CEO

Hartford Financial Services Group Inc named a former Bank of America Corp executive to be its new CEO, and he already has plans to introduce enhanced risk management after record losses at the 199-year-old insurer.

Apple begins to end iPhone exclusivity

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Apple begins to end its iPhone exclusivity as Vodafone on Tuesday announced it will join France Telecom's Orange and Telefonica's O2 in selling the phone in Britain.

Hartford Financial names ex-BofA exec as CEO

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Hartford Financial Services Group Inc named a former Bank of America Corp executive to replace its chairman and CEO, Ramani Ayer, who had announced plans to retire in June after the 199-year-old insurer struggled with record losses.
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Fed's Plosser: Policy shift may need to be aggressive

The Federal Reserve will have to act quickly, and perhaps aggressively when the time comes to pull back its extraordinary support for markets in order to avoid stoking inflation, the president of the Federal Reserve Bank of Philadelphia said on Tuesday.
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HP may merge PC, print divisions-WSJ

Hewlett-Packard Co is considering a plan to reorganize the company and combine its printer and personal computer units, the Wall Street Journal reported on Tuesday.
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Micron beats Street, shares rise

U.S. chipmaker Micron Technology Inc posted a narrower-than-expected quarterly loss on Tuesday due to improved demand for memory chips, boosting its shares 3.2 percent.
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Daily Commentary - 30/09/2009

The Australian Dollar maintained its upward momentum against the Greenback during local trade yesterday, spurred on by an increase in the local equity market and the continuing news that interest rates are tipped to rise in Australia.
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U.S. consumer woes overshadow housing cheer

U.S. house prices rose for a third month in July, but consumer confidence fell unexpectedly in September as the worst job market in 26 years fueled worries about personal finances, private reports showed on Tuesday.
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Toyota plans massive recall for dangerous floormats

Toyota Motor Corp said on Tuesday it will recall some 3.8 million vehicles -- including its popular Prius hybrid -- because of the risk a floormat could keep the accelerator pedal forced down, a problem suspected in a recent fatal crash.
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Madoff scandal prompts dozens of SEC reforms

After dismissing complaints that might have uncovered Bernard Madoff's $65 billion fraud, the U.S. Securities and Exchange Commission must reform how it reviews tips and conducts examinations, the SEC's internal watchdog said on Tuesday.
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Fed pursues tough new U.S. credit card rules

The U.S. Federal Reserve on Tuesday proposed tough new credit card rules to protect consumers from potentially costly practices by lenders and moved to implement legislation enacted in May.
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Savannah Gold to list in Canada next year

Privately held Savannah Gold Ltd is seeking 1 million pounds in fresh investment to launch a drilling programme in Nigeria, and hopes to list the firm in Canada in the middle of next year.
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UK Internet ad spend overtakes TV for first time

Spending on Internet advertising in Britain grew 4.6 percent in the first half of 2009, outperforming the wider ad sector, which slumped 17 percent, and making it the country's biggest ad medium ahead of TV.
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SEC mulls securities lending as risks exposed

U.S. securities regulators are eyeing new restrictions on the multi-trillion dollar securities lending market used by short-sellers after the credit crisis revealed the industry was anything but low risk.
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Home prices stabilizing but wariness remains

Home prices fell at a slower rate in July, continuing a six month trend earlier in 2009, but concerns about longer term stability remain, according to the latest report of the S&P Case Schiller Home Price Indices.
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No truth to CIT-IndyMac merger talk: source

CIT Group Inc shares surged on Tuesday following a newspaper report that hedge fund Paulson & Co wants to combine the cash-strapped lender with a Paulson-affiliated bank once known as IndyMac. But a person familiar with the matter denied the report.
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Warner, YouTube confirm music video deal

Warner Music Group and Google Inc's YouTube said on Tuesday they have reached a deal which will see music videos from artists such as Madonna and Green Day once again feature on the popular website.
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SEC told to aggressively assess tips after Madoff

After dismissing complaints that might have uncovered investor Bernard Madoff's $65 billion fraud, experienced U.S. Securities and Exchange Commission staffers must have a procedure in place to review tips and complaints, the SEC's internal watchdog said on Tuesday.
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FileMaker releases Bento 3 for Apple Mac

Bento, the database application for Mac OS X, was updated to version 3 on Tuesday, bringing new features of iPhoto integration, security options, multi-user sharing and more.
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U.S. CEOs still not ready to hire, spend

U.S. chief executives are not ready to step up hiring or capital spending, though a majority expect sales to rise over the next six months, according to a Business Roundtable survey released on Tuesday.
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U.S. CEOs still not ready to hire, spend: survey

U.S. chief executives are not ready to step up hiring or capital spending, though a majority expect sales to rise over the next six months, according to a Business Roundtable survey released on Tuesday.
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Fed's Fisher says policy reversal could be swift

Dallas Federal Reserve President Richard Fisher said on Tuesday that the winding down of the Fed's accommodative monetary policies needed to start as soon as the economy shows convincing signs of traction.
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JPMorgan reshuffles leadership in succession clue

JPMorgan Chase & Co Chief Executive Jamie Dimon said on Tuesday he is starting to look for a successor, and he named Jes Staley, current head of the No. 2 U.S. bank's asset management unit, to the key post of investment bank CEO.
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Siemens downbeat on business, shares slip

German industrial conglomerate Siemens said its order intake fell more than a fifth in its fiscal fourth quarter through September, indicating that recovery is not yet underway.
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FDIC propose banks prepay fees

U.S. banking regulators proposed on Tuesday that banks prepay three years of fees to help cover the rising cost of bank failures, facing a $100-billion cleanup bill through 2013.
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Walgreen tops Wall Street view, drugstore shares rise

Walgreen Co , the largest U.S. drugstore chain, reported a quarterly profit that topped expectations as it began to benefit from a make-over that includes sprucing up stores and cutting corporate jobs, sending its shares 11 percent higher.

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