MARKETS / FINANCE

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Goldman Sachs posts deeper-than-expected Q3 loss

Goldman Sachs Group Inc posted a wider-than-expected loss of $428 million for the third quarter, only its second quarterly loss as a public company, hurt by sharp declines in the value of investment securities and customer trading assets.

Bank of America lending profit down, expenses rise

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Bank of America Corp posted a third-quarter profit on Tuesday, helped by accounting gains and asset sales, but the bank's main businesses showed signs of weakness as lending profits dropped and expenses rose.

Freeport McMoRan Mulls Long-Term Shutdown of Indonesian Mine

Striking Grasberg miners vandalize truck
Freeport-McMoRan Copper & Gold is considering shutting down its strike-hit Grasberg mine as one of several contingency plans if security does not improve, as it struggles with one of the worst labor disruptions in Indonesia's mining industry.
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Indian woman tries on gold jewelry

India to See Robust Gold Imports in Festive Quarter

Gold demand in India, the world's largest bullion buyer, will be strong in the October-December quarter, a traditional time for festivals and weddings, despite high inflation that eats into savings and multiple growth-choking central bank rates hikes.
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German comments, China slowdown drag stocks lower

European shares were expected to retreat on Tuesday, echoing losses in Asian stocks and commodities, after Germany cautioned against hopes for a quick fix to Europe's debt problem, and on news that China's growth slowed slightly more than expected in the third quarter.
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China Q3 growth eases, policy stance seen steady

China's economic expansion slowed in the third quarter to its weakest pace since early 2009, but core domestic drivers of growth remained robust, suggesting little chance that monetary policy can be relaxed near term.
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Dow Jones Indexes launches indexes for Asia, Europe

Dow Jones Indexes, majority-owned by CME Group Inc , launched two new regional indexes for Asia and Europe on Tuesday, applying a similar methodology to that used for the Dow Jones Industrial Average <.DJIA> in the United States.
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China economic growth eases to 9.1 percent

China's economic expansion eased slightly in the third quarter to its slowest pace since the second quarter of 2009 as the world's growth engine strained against tight monetary policy at home and softening demand abroad.
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Ceglia lawyer withdraws from Facebook lawsuit

The New York man claiming half of Facebook Inc founder Mark Zuckerberg's lucrative stake in the world's largest social networking company is replacing his main lawyer for a third time, a court filing showed.
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IBM's Q3 disappoints, stock drops

IBM's quarterly results failed to impress investors used to a stellar showing from Big Blue, adding to concerns about lackluster corporate IT spending and dragging its stock down more than 3 percent.
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Fed officials at odds on inflation threat

Fissures at the Federal Reserve over the correct course of future monetary policy were on display Monday, with one top policymaker calling for further easing even as another suggested tighter policy may be needed.
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Fed's Lacker says U.S. inflation still a risk

The Federal Reserve's latest effort to push down long-term borrowing costs is likely to push inflation higher with little benefit to economic growth, a top central bank official said on Monday.
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Moody's warns France on possible negative outlook

Moody's warned on Monday it may slap a negative outlook on France's Aaa credit rating in the next three months if the costs for helping to bail out banks and other euro zone members stretch its budget too much.
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Ceglia told lawyer to ignore Facebook court order

The New York man claiming half of Facebook Inc founder Mark Zuckerberg's stake in the social networking company told his lawyer not to comply with a court order to turn over email data, a court filing shows.
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Germany's caution on debt plan sinks Wall Street

Stocks suffered their worst loss in two weeks on Monday after comments from Germany's finance minister caused investors to fear Europe's solution to its debt crisis may not come fast enough.
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Industrial output up, NY manufacturing contracts

Industrial production rose in September and a gauge of manufacturing in New York State hinted at stabilization in October, suggesting the factory sector will keep supporting the economic recovery.
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Company says SEC wrong about stock data exposure

A company hired by the U.S. Securities and Exchange Commission to operate the agency's stocks ethics program is denying allegations that it breached a provision in its contract by failing to disclose its use of a subcontractor.
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Suck for Luck: What Teams Would Take Andrew Luck?

Although no team would likely ever admit to purposely tanking games, it's clear that a few teams are hoping to end up with the worst record in the league in order to draft Stanford quarterback Andrew Luck.
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Berlin tempers summit hopes, banks under pressure

Germany said on Monday that a summit of EU leaders next Sunday would not produce a miracle cure for the euro zone's sovereign debt crisis, a warning that pushed down markets after a rise in the past week on expectations of a breakthrough.
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Wall St. lower on euro zone concerns; VIX surges

Stocks fell on Monday as traders rushed to buy protection against a further decline in the market after comments from Germany's finance minister heightened concerns about the euro zone's debt crisis.
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Web.com to save more from Network Solutions buy

Web.com Group, a provider of Web design, email, marketing and advertising services to local businesses, said it expected to save far more than the $30 million it previously predicted from buying bigger rival Network Solutions.

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