MARKETS / FINANCE

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Sprint says may use debt to fund Clearwire

Sprint Nextel Corp said it could use the proceeds from a private debt offer to fund Clearwire Corp, sending shares in the cash-strapped high-speed wireless firm up 8 percent on Friday.

Wall Street Week Ahead: Coping with Europe's chaos

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U.S. stock investors have had to take their own self-help course on living with uncertainty due to Europe's crisis, and they may need to draw on that next week because it's never clear when the next upheaval will come.
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IPO view: Groupon travels tortured road to Nasdaq

When Groupon Inc filed its plan to go public with U.S. regulators in June, Chief Executive Andrew Mason proclaimed in a letter to prospective shareholders that life is too short to be a boring company.
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Gold Pellets

Gold Falls on Thin Volume, Follows Risky Assets

Gold fell on Friday in one of the quietest trading day, as the metal tracked riskier assets on fresh worries about the euro zone bailout fund and a mildly encouraging U.S. nonfarm payrolls report.
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One bank fee may be going away, but many others lurk

Sure, Bank of America -- under much public pressure -- dropped its plan to charge customers $5 a month for the privilege of using their debit cards. Does that mean consumers have won the battle against bank fees?
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No new euro zone money for debt crisis at G20

The euro zone won verbal support but no new money at a G20 summit on Friday for its tortured efforts to overcome a sovereign debt crisis, while Italy was effectively placed under IMF supervision.
Jon Corzine, MF Global Holdings Ltd. CEO

Corzine's Fall From Grace Leaves Obama With Even Less Bridges to Wall Street

The fall of Jon Corzine, a prominent figure with a toehold in the worlds of both finance and politics, is not only an issue for himself, but for one of the men who likely sought his advice and support on a regular basis, President Barack Obama. Perhaps more importantly, it follows a trend that has dogged the president since 2010, as, due to a variety of causes, many of the people close to Wall Street he had previously sought out have later found themselves uninvited to tea in the Rose Garden.
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Comments by policymakers at Cannes G20

Following are comments on Friday by policymakers attending the Group of 20 Summit in Cannes, France, and other euro zone officials, as Europe considered the possibility of Greece leaving the euro.
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Wall St falls before confidence vote in Greece

Stocks retreated on Friday as political instability in Europe overshadowed encouraging domestic jobs data and investors focused on the uncertainty surrounding a confidence vote in the Greek parliament after U.S. markets close.
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AIG CEO defends company amid huge losses

AIG suffered a perfect storm of natural disasters and adverse market conditions in the third quarter, its chief executive officer said on Friday, the day after the company posted a net loss of more than $4 billion.
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G20 names 29 banks for capital surcharge, recovery plan

Twenty-nine banks were named on Friday as being so important to the global financial system that they are likely to need to hold more capital than rivals and must put in place a plan to allow them to be wound up without taxpayer help if they hit trouble.
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Wall St falls on euro zone rescue fund concerns

Stocks retreated on Friday after two days of gains as wealthier nations appeared to pull back from a European Union plan to broaden funding for a plan to deal with the region's sovereign debt crisis.
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ECB rate cut was pre-emptive, bond buys temporary

The European Central Bank's interest rate cut on Thursday was a pre-emptive strike, policymaker Juergen Stark said on Friday, and urged the bank to call an early halt to its sovereign bond-buying programme.
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Groupon shares surge nearly 56 percent in debut

Shares of daily deals site Groupon Inc rose more than 50 percent in their stock market debut on Friday, but at least some of the early trading exuberance may have come from the small amount of shares offered.
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PNG Gold Mulls Buying New Guinea Gold

PNG Gold Corp. said Friday it is considering an all-stock deal to buy New Guinea Gold Corp., with which it has signed a letter of intent regarding merger discussions.
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Instant view: Oct nonfarm payrolls rose by 80,000

U.S. employment rose less than expected in October, but a drop in the jobless rate to a six-month low of 9.0 percent and upward revisions to prior months' job gains pointed to underlying strength in the labor market.
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Groupon raises $700 million in massive IPO

Groupon Inc raised $700 million after increasing the size of its initial public offering, becoming the largest IPO by an Internet company since Google Inc raised $1.7 billion in 2004.
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Italy accepts IMF monitoring in bid to rebuild

Italy will allow the IMF to monitor its progress with long overdue reforms of pensions, labor markets and privatizations, European leaders announced on Friday, looking beyond the crisis in Greece to the far graver threat to the euro zone.
U.S. Job Market

Jobs Report Contains Modest Good News for Seekers

The U.S. economy added a modest 80,000 jobs in October -- below what economists expected -- but job gains for the prior two months were revised higher: September to 158,000 from the initially-released 103,000; and August to 104,000 from 57,000. And the latter suggests a job market that continues to heal.
Police, miners clash at Grasberg mine

Grasberg Miners Repel Police Trying to Open Key Road

Police failed to lift road blockades stopping fuel and food reaching Freeport McMoRan Copper & Gold's mining operations in Indonesia's Papua region, after clashes with striking miners and local tribesmen on Friday.
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ECB should end bond purchases soon, Stark says

European Central Bank policymaker Juergen Stark urged the bank on Friday to call an early halt to its bond-buying program, stressing it sees the plan as temporary even as it faces pressure to scale purchases up to tackle the euro zone crisis.

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