MARKETS / FINANCE

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China welcomes consensus reached at EU debt talks

China welcomed on Thursday the consensus reached at the European Union's summit to tackle the euro zone debt crisis and supported measures taken by the bloc that could help the region's recovery.

Wall Street rallies on euro zone deal

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Stocks rallied in early trading on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with banks and insurers to accept 50 percent losses on Greek bonds.
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Germany's Chancellor Angela Merkel waits for her car as she leaves a euro zone leaders summit in Brussels

Euro deal leaves much to do on rescue fund, Greek debt

Euro zone leaders struck a last-minute deal to limit the damage from the currency bloc's debt crisis early on Thursday but are still far from finalizing plans to slash Greece's debt burden and strengthen their rescue fund.
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Consumers, businesses to pump up Q3 growth

Economic growth likely gathered steam in the third quarter as consumers and businesses set aside fears and stepped up spending, creating momentum that is expected to carry into the final three months of the year.
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What makes a bank trader go rogue?

The traits banks tend to look for when hiring new traders are the very same ones likely to make them go rogue, industry insiders and psychologists say.
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Markets cheer euro deal but questions remain

The euro and stocks rallied on Thursday after European leaders struck a deal to provide debt relief for Greece, but analysts warned the plan would fail to halt the euro zone's two-year-old debt crisis unless crucial details were resolved soon.
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Stock futures rally on euro zone deal

Stock index futures rose sharply on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with private banks and insurers to accept 50 percent losses on Greek bonds.
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Crisis flames lick at BNP chief Pebereau's legacy

In the spring of 1999, Michel Pebereau, chief executive of Banque Nationale de Paris , gathered a dozen of his top bankers to propose an audacious plan to buy not one, but two rivals and create a French national champion.
Late Chinese leader Mao Zedong is seen on a 100 yuan banknote in this photo illustration taken in Beijing

Exclusive: China eyes creation of ASEAN Bank

China is considering a proposal to set up a regional bank to help its small and medium enterprises invest in Southeast Asian neighbors, fund infrastructure projects and promote development in southwestern China, two independent sources said.
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Stock index futures point higher

Stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500, Dow Jones futures and Nasdaq 100 futures rising 1.5 to 1.8 percent at 5:05 a.m. EDT.
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BOJ eases policy with eye on yen, Europe crisis

The Bank of Japan eased monetary policy on Thursday by boosting purchases of government bonds and warned of risks posed by a strong yen and Europe's debt crisis in a sign it would act again if recovery in the world's third-largest economy falters.
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World stocks, euro hit two-month high after EU summit

World stocks and the euro rose to their highest levels in nearly two months on Thursday after European leaders struck a deal to resolve a two-year-old sovereign debt crisis, which threatens the survival of the single currency.
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Asia shares, euro rise on EU summit

European stock index futures rose on Thursday as riskier assets across the board and the euro rallied in Asia, after European leaders agreed to boost their region's rescue fund and have private bondholders accept a huge loss on their Greek debt.
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Euro zone strikes deal on second Greek package

Euro zone leaders struck a deal with private banks and insurers on Thursday for them to accept a 50 percent loss on holdings of Greek government bonds as part of a plan to lower Greece's debt burden and try to contain the two-year-old euro zone crisis.
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Regulator said to mull forgiving mortgage debt

The regulator for Fannie Mae and Freddie Mac was reviewing a proposal to help troubled homeowners by forgiving a portion of their outstanding mortgage debt, Democrats in the House of Representatives said on Wednesday.
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Asia shares edge up, euro steady on EU summit

Asian shares edged up and the euro steadied on Thursday after European leaders agreed to boost the region's rescue fund, but their failure to offer a detailed plan to recapitalize banks and reduce Greek debt to a sustainable level may keep gains limited.
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Groupon CEO says replacing 10 percent of sales staff

Daily deals site Groupon is replacing the worst 10 percent of its sales staff as it pushes to win stronger deals from merchants and ensure it can keep growing, the company's chief executive told potential IPO investors on Wednesday.
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Exclusive: NSA helps banks battle hackers

The National Security Agency, a secretive arm of the U.S. military, has begun providing Wall Street banks with intelligence on foreign hackers, a sign of growing fears of financial sabotage.
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Visa revenue growth slows, shares dip

Visa Inc said its revenues grew at a slower pace in the latest quarter and it paid more in client incentives, sending its shares lower even though the payment processing company posted better-than-expected net income.
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Exclusive: NSA helps U.S. banks battle hackers

The National Security Agency, a secretive arm of the U.S. military, has begun providing Wall Street banks with intelligence on foreign hackers, a sign of growing U.S. fears of financial sabotage.
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Investors show interest in foreclosure plan

Big investors are showing interest in an evolving Obama administration plan to sell off foreclosed homes, although the government will have to make the offer sweet enough to coax private funds.

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