MARKETS / FINANCE

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U.S. gasoline price rises to $3.51/gallon: survey

The average price for a gallon of gasoline in the United States rose nearly 12 cents in the past three weeks to about $3.51, due in part to higher prices for North Sea crude oil, according to the nationwide Lundberg Survey.

Protesters battle Greek police as parliament decides

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Greek lawmakers looked set to endorse a new austerity deal on Sunday to secure an EU/IMF bailout and avoid national bankruptcy, defying public rage and protesters who fought pitched battles with riot police outside parliament.
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Schaeuble warns Greek promises no longer suffice

Greek promises on austerity measures are no longer good enough because so many vows have been broken and the country that has been a bottomless pit has to dramatically change its ways, German Finance Minister Wolfgang Schaeuble said.
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IIF's Dallara urges Greek lawmakers to back bailout

The chief negotiator for private creditors over a Greek debt swap deal, Charles Dallara, urged lawmakers to approve the country's IMF/EU bailout deal in parliament on Sunday, saying the deadlines allowed no room for slippage.
A mother holds her baby outside a children's hospital in central Beijing

China: Year of the Dragon Will Bring Baby Boom Despite One-Child Policy

In the Year of the Dragon, China expects a 5 percent increase in births despite the country's strict one-child policy. This brings into question whether the one-child policy is still an effective population control tool. Or is the policy actually damaging Chinese society and economy?
Chinese New Year 2012

Jeremy Lin: Year of the Dragon

Lin has single-handedly revitalized what was once a moribund season for the Knicks and may be breathing new life to the NBA as a whole
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Hungarian government lawmaker sees IMF deal by May: report

Hungary can realistically start formal talks with the European Union and the IMF about a vital funding deal in early March and an agreement can be reached by the middle of the second quarter, a ruling Fidesz party lawmaker said on Saturday.
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Swiss bank Wegelin is fugitive in tax fraud case

Wegelin & Co, the oldest Swiss private bank, was declared a fugitive after failing to show up in a U.S. court to answer a criminal charge that it conspired to help wealthy Americans evade taxes.
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MF Global trustee sees $1.6 billion claims gap

The shortfall in funds available to pay back customers of MF Global's collapsed brokerage is at least $1.6 billion and could be more, the trustee liquidating the brokerage said on Friday.
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DuPont starts unit auction, may fetch $4 billion: sources

Chemical maker DuPont has started the auction of its car paint business, which could bring in more than $4 billion and has drawn early interest from a number of private equity firms, according to sources familiar with the matter.
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U.S. hedge fund manager charged with insider trading

A California hedge fund manager was charged on Friday with making $900,000 illegally on inside information about three technology companies, the latest strand of the high-profile Galleon Group prosecutions against money managers and traders.
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Hedge fund manager charged with insider trading

A California hedge fund manager was charged on Friday with making $900,000 illegally on inside information about three technology companies, the latest strand of the high-profile Galleon Group prosecutions against money managers and traders.
Gold bars from the Oegussa plant

Gold Falls Along with Euro, U.S. Equities

Gold fell on Friday, following losses in the euro and U.S. equities,as uncertainty over negotiations for a bailout package for Greece prompted investors to sell the metal and hoard cash.
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January budget gap shrinks

The monthly budget deficit narrowed to $27.4 billion in January from $49.8 billion in the same month a year earlier, partly because some benefit payments normally made in January were shifted to December, the Treasury Department said on Friday.
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First Solar project loan delay hits stock

First Solar said the U.S. Department of Energy has not released loan funds for a big California solar project because of construction permit issues, sending its shares down as much as 11 percent.
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Bernanke urges action to heal housing markets

Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore U.S. housing markets, saying depressed house prices and sales are a serious drag on the economic recovery.
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Exclusive: Future of bank benchmark rate under review

A global probe into whether banks colluded to set the interest rates at which they borrow money from each other has thrown into question the future of the benchmark they use to price financial products worth an estimated $360 trillion.
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S&P downgrades 34 Italian banks

Rating agency Standard & Poor's downgraded 34 Italian banks on Friday, including heavyweights UniCredit and Intesa Sanpaolo , citing a reduced ability to roll over their wholesale debt and expected weak profitability.
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Massachusetts subpoenas Bank of America documents

Massachusetts securities regulators said on Friday that they were subpoenaing Bank of America Corp for documents to determine whether the lender had knowingly overvalued assets in some investment products.
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Details of new ECB collateral rules begin to firm

Euro zone central banks began to fill in some of the blanks surrounding their new, more accommodative lending rules on Friday, revealing banks will get between 90 and 11 percent of the face value of the freshly-eligible loans they can now use as collateral.
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Spain cuts firing costs in new labor reform

Spain cut severance pay for workers on Friday and watered down collective bargaining rights, giving more power to employers as it attempts to kick start its moribund jobs market and slash Europe's highest unemployment rate.
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Anxiety over incomes hits consumer morale

Americans felt worse about their personal finances in early February, but rising confidence in the labor market's prospects should help to support spending and the broader economy.

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