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Gold Edges Higher in Asian Trading

Gold was slightly higher on Friday and headed for its biggest weekly gain in more than a month, shrugging off the credit rating downgrade of Spain ahead of a G20 meeting whose agenda will be dominated by the euro zone debt crisis.

Stock futures signal higher Wall St open

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Stock index futures pointed to a higher open for equities on Wall Street on Friday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 up 0.6-0.7 percent.

S&P downgrades Spain by one notch on weak growth

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Standard and Poor's cut Spain's credit rating on Friday, sending the euro lower and underlining the challenges facing Europe's big powers as they prepare to meet G20 counterparts over the euro-zone debt crisis.
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Euro zone crisis to dominate G20 Paris meeting

The euro zone debt crisis will dominate a summit of G20 finance chiefs and central bank heads in Paris, with a downgrade of Spain's credit rating highlighting the risk of a much larger economy than Greece coming under threat.
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Euro zone crisis set to dominate G20 Paris meeting

G20 finance chiefs and central bank heads from the world's biggest economies meet in Paris on Friday needing to find a solution to a deepening euro zone debt crisis that has fanned fears of a global recession.
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BRIC countries in talks to boost IMF: report

Brazil, Russia, India and China are working on ways to contribute money rapidly to expand the effective funds of the International Monetary Fund, the Financial Times reported on Friday, citing people familiar with talks among the countries.
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Solyndra investor promoted panels to the Navy: report

One of the largest private investors in failed solar firm Solyndra recommended the company's panels for a U.S. Navy contract at a time when the company was struggling with cash flow, the Wall Street Journal reported on Thursday.
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FCC presses AT&T on jobs claims for merger

A federal telecommunications regulator asked AT&T Inc on Thursday to provide data on claims that its deal to buy T-Mobile USA would mean a net gain of U.S. jobs, saying its responses on this issue remain incomplete.
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Asia shares edge lower on caution over global growth

Asian shares inched down on Friday, tracking New York and European shares lower as weak Chinese trade data raised concerns about the global economy, while the euro eased after another sovereign debt ratings downgrade.
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Hulu sale called off after months of talks

An attempted sale of online video website Hulu has fallen through after months of difficult and complex negotiations between owners such as Walt Disney Co and potential buyers.
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SEC tells companies to disclose cyber attacks

U.S. securities regulators on Thursday issued guidelines for public companies to follow in disclosing cyber attacks following a rash of Internet crimes that caused lawmakers to call for clearer guidance on reporting the crimes.
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Hulu taken off the block

The joint owners of Hulu, said they have decided against a sale of the popular online video service amid rumors that the bids received were lower than they were willing to accept.
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SEC issues guidance on cyber security disclosures

A rash of cyber security breaches at U.S. public companies and an outcry from federal lawmakers has prompted U.S. securities regulators to issue guidance for when companies must disclose cyber attacks to investors.
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Deficit panel grapples with corporate taxes

In a sign of possible progress in bipartisan U.S. deficit talks, Republicans seem more flexible on corporate taxes, a change that could help the congressional super committee chart the country's path back to fiscal health.
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Kocherlakota: Recent easing hurts Fed credibility

Recent Federal Reserve moves aimed at bolstering a slow but intact recovery reduce the central bank's credibility and ultimately its ability to keep inflation in check and unemployment low, a top Fed official said on Thursday.
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Foreign profit tax break would spur U.S.: report

An overseas corporate profit repatriation tax holiday could boost consumption and U.S. tax revenues even if companies decide to return cash to shareholders, according to a new study published on Thursday.
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Rajaratnam gets 11-year sentence, less than U.S. sought

Raj Rajaratnam, a self-made hedge fund tycoon convicted in the biggest Wall Street trading scandal in a generation, was ordered to serve 11 years in prison, the longest sentence ever in an insider-trading case but far less than prosecutors sought.
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JPMorgan Q3 net falls; bank eyes expenses

JPMorgan Chase & Co's quarterly earnings fell 25 percent, excluding an accounting gain, as European financial turmoil reduced demand for securities underwriting and acquisition advice.
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Rajaratnam gets 11-year prison sentence

Raj Rajaratnam, a self-made hedge fund tycoon convicted in the biggest Wall Street trading scandal in a generation, was ordered to serve 11 years in prison, the longest sentence ever in an insider-trading case but far less than prosecutors sought.
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Northrop pulls out of Farnborough air show

Northrop Grumman Corp on Thursday pulled out of the 2012 international air show in Farnborough, England, a dramatic move underscoring the company's drive to cut costs as it prepares for leaner times in the global defense market.
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Mobile telephony startup Rebtel targets jump in sales

Swedish startup Rebtel, the second largest mobile Internet telephony firm after Skype, expects sales to surge next year based on strong initial demand for its new application combining Internet calls and traditional calling.
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Fitch downgrades UBS, puts other banks on review

Fitch Ratings downgraded UBS AG on Thursday and placed seven other U.S. and European banks on credit watch negative, citing challenges in the economy and financial markets, as well as the impact of new regulations.
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Mobile telephony startup targets jump in sales

Swedish startup Rebtel, the second largest mobile Internet telephony firm after Skype, expects sales to surge next year based on strong initial demand for its new application combining Internet calls and traditional calling.

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