MARKETS / FINANCE

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Banks start playing games with your money

A new video game has gotten its hooks into Brian Kealer, a 26-year-old San Francisco software engineer. He's not killing birds or using his vocabulary to impress his friends. No, Kealer is after real prizes, like the iPad2 he just scored. And he's playing with his bank account.

Analysis: Spain should temper austerity, look to growth

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Meeting Spain's draconian austerity targets would cost every worker more than 2,000 euros this year, and even unforgiving markets sense it may be time for the government to moderate the pain and try to bolster a stagnant economy.
2012 Election

Why Mitt Romney is the Anti-Obama

For all the hand-wringing about Mitt Romney being insufficiently conservative, the last few days have demonstrated how a Romney candidacy would give voters a clear alternative to the progressive vision articulated by President Barack Obama.
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India court warns Web giants about China-style controls

Internet giants including Google and Facebook are embroiled in a growing battle in India over offensive content with a judge warning websites may be blocked like in China, stoking worries about freedom of speech in the world's largest democracy.
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Italy bond auction fails to match Spanish success

Italy's three-year debt costs fell below 5 percent but its first bond sale of the year failed to match the success of a Spanish auction the previous day, reflecting the heavy refinancing load Rome faces over the next three months.
Tampakan mine

Xstrata Miffed at Manilla's 'No' to Giant Copper-Gold Mine

Global miner Xstrata Plc's Philippine unit said on Friday it was extremely disappointed with a government decision not to clear for now its planned $5.9 billion copper-gold Tampakan project, potentially the biggest in Southeast Asia.
Ron Paul 2012

Ron Paul 2012: Voters Explain How He Won Them Over

Four years ago, Ron Paul was a fringe candidate. Now, he is a legitimate contender for the Republican nomination. The International Business Times talked to some of the new Paul converts about what won them over.
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Euro, stocks up ahead of Italian debt sale

European shares and the euro rose on Friday on expectations debt-scarred Italy's first bond sale of the year would go well, but unease over Greece's debt swap deal and prospects for the broader euro zone economy capped gains.
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BofA mulling retreat if financial problems worsen: report

Bank of America Corp , the second-largest U.S. bank by assets, has informed U.S. regulators that it is willing to draw back from some parts of the country if its financial problems worsen, the Wall Street Journal reported on Friday, citing people familiar with the situation.
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Dip in China's FX reserves may hasten policy shift

China's official reserves slipped to $3.18 trillion in the final quarter of 2011, signaling that the days of rampant export-led accumulation of foreign currency are numbered and that new monetary policy steps may be needed to counter capital outflows.
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GE ordered to defend lawsuit tied to 2008 crisis

A federal judge refused on Thursday to throw out a lawsuit accusing General Electric Co and its chief executive of misleading investors about the conglomerate's financial health and exposure to risky debt during the 2008 financial crisis.
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Author of online piracy bill vows not to buckle

The author of the Stop Online Piracy Act vowed to press ahead with his bill despite fierce opposition from internet giants such as Google and Facebook, faulting opponents for putting their profits ahead those lost by victims of counterfeit products.
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LightSquared cries foul over GPS advisory board

Telecom startup LightSquared is asking for an investigation of a possible conflict of interest by a member of an advisory board that has already warned against its technology because of interference with the global positioning system.
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Global shares gain as strong debt sales ease risk

Asian shares rose to a one-month high and the euro clung near its strongest in a week on Friday as strong demand for Spanish and Italian debt sales tempered risk aversion ahead of another auction from Rome later in the day.
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Consumer chief Cordray dialing up bank CEOs

New consumer financial chief Richard Cordray has been calling the heads of some of the top U.S. banks in an effort to build support for his agency, which is viewed skeptically by the financial industry.
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CEOs urge court to throw out SEC-Citigroup ruling

A group of chief executives at more than 200 large U.S. companies urged a federal appeals court to undo a judge's controversial decision making it harder for companies to settle Securities and Exchange Commission fraud cases.
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Silicon Valley calls the help desk on Volcker rule

While Wall Street giants fight to get regulators to loosen the broad trading restrictions of the Volcker rule, a bank that sits in the heart of California's high-tech corridor has mounted its own aggressive and more focused lobbying effort.
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ECB sees substantial effect from cheap money

The European Central Bank's flood of cheap three-year money is helping the euro zone's banking system substantially and supporting confidence in the bloc's economy which is showing some signs of stabilization, its president said on Thursday.
Molten gold

Gold Prices up for 3rd Day, Hit 1-Month High

Gold rose to a one-month high on Thursday, as comments by the president of the European Central Bank on cheap money stabilizing the region's banking system extended the metal's gain to a third consecutive day.
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Potential suitors circle American Airlines: sources

US Airways Group , Delta Airlines and private equity firm TPG Capital are among several parties interested in potential bids for AMR Corp , the bankrupt parent of American Airlines, people familiar with the matter told Reuters.
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Class-action versus American Honda thrown out

American Honda Motor Co won a legal victory as a divided U.S. appeals court on Thursday said a nationwide lawsuit over a brake system used in some Acura RL vehicles should not have been certified as a class-action.
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Airbus, Boeing top 1,000 deliveries in 2011

The world's dominant planemakers scored new orders as Airbus put the finishing touches to a record 2011, cruising peacefully for now above debt turmoil and new airline cutbacks in Europe.
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Wall Street ekes out gains for fourth day

The S&P 500 closed at a five-month high for the third day on Thursday but had difficulty extending gains in the face of lackluster economic data and another European bond market test.
Mario Monti

Fitch Continues Warnings of Italy Downgrade, Catching Up to Competition

Fitch Ratings analysts continued their saber-rattling over Italy on Thursday, making remarks observers fear signal a coming downgrade of that country's sovereign credit rating. The comments carry an element of the ratings agency playing catch-up to its two main competitors: New York-based Moody's Investor's Services and Standard & Poor's. Fitch currently holds a rating of A+ on Italian government debt, a notch above the ratings assigned by those competitors

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