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Instant View: BP cuts dividend; to sell assets

Oil giant BP said it would cut four quarters of dividends, significantly reduce its investment program and sell $10 billion of assets to fund a planned $20 billion fund to pay for its Gulf of Mexico oil spill.
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UAW meets as union looks to claw back from crisis

United Auto Workers delegates will gather in Detroit this week to elect new leaders as the union emerges from the U.S. auto industry's near-death experience with fewer workers, lower wages and an uncertain set of bargaining chips.
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Tesla says not affected by CEO's divorce dispute

Electric carmaker Tesla Motors said on Wednesday it does not expect the contentious divorce of its chief executive, Elon Musk, to affect its plans to list its shares and does not rely on him to provide further funding.
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May retail sales lackluster, discounters strong

May brought lackluster sales results for U.S. retailers, with discount chains turning in the strongest performance, as consumers again showed their cautious side in a seasonally weak period for spending.
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Facebook CEO says no date in mind for IPO

Facebook Chief Executive Mark Zuckerberg said he has no date in mind to take the Internet social networking company public, and defended changes to the service that have provoked privacy concerns.
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Moody's analysts felt bullied to give rosy ratings

Some former officials at Moody's said they felt intimidation from bosses to assign rosy ratings to risky debt products, according to testimony to a government panel probing the causes of the financial crisis.
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Moody's analysts: we were bullied for rosy ratings

Some former Moody's analysts said they felt intimidated by bosses to assign rosy ratings to risky debt products, according to testimony to a government panel probing the causes of the financial crisis.
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China iPhone plant workers to get 30 percent raise

Production line workers at Foxconn's southern China manufacturing hub will get a 30 percent pay rise, as top customer Apple Inc called recent suicides at the plant troubling but said the site was not a sweatshop.
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Foxconn plant workers to get 30 percent raise

Production line workers at Foxconn's southern China manufacturing hub will get a 30 percent pay rise, as top customer Apple Inc called recent suicides at the plant troubling but said the site was not a sweatshop.
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Apple's Steve Jobs finds Foxconn deaths troubling

Apple Inc Chief Executive Steve Jobs finds troubling a string of worker deaths at Foxconn, the contract manufacturer that assembles the company's iPhones and iPads, but said its factory in China is not a sweatshop.
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Buffett, Moody's CEO rate a date on market crisis

Legendary investor Warren Buffett appears this week before a commission searching for the causes of the 2008 financial crisis, to provide his assessment on the role a much-maligned credit rating industry played.
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Wall Street slides on Spain downgrade

Stocks fell on Friday, capping off their worst month in over a year as a downgrade by Fitch of Spain's credit rating reignited worries about euro-zone debt issues.
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Microsoft to focus on products and profits

Microsoft Chief Executive Steve Ballmer was unperturbed a day after rival Apple Inc shot past his firm as the world's biggest tech company by market value and said his aim was on developing a good product line and making more products.
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California court cases against Toyota consolidated

A judge has ordered the pretrial merger of at least 40 California state court lawsuits filed against Toyota over cars that have raced out of control, including a case stemming from the fatal crash that sparked the automaker's recall crisis.
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Lawmakers want more Google Street View info

Three U.S. lawmakers, concerned that Google Inc may have violated U.S. privacy laws, want to know how much personal data the company has gathered through its project to photograph streets across the country and how it plans to use that information.
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Menus still calorie-laden despite new laws: group

(Reuters) - Laws requiring U.S. restaurant chains to list calorie counts have not stopped them from offering unhealthy meals that pack in calories, fat and salt, a group that encourages healthy food said on Tuesday.
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Losses to continue at Fannie and Freddie: regulator

U.S. mortgage finance enterprises Fannie Mae and Freddie Mac , seized by the government during the financial crisis, will continue to sustain losses on mortgages as house prices drop, their regulator said in testimony made public on Tuesday.
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Wall Street finishes flat after late rebound

Stocks staged a furious late-day rally on Tuesday to push the S&P 500 into positive territory as the focus shifted from European debt woes to buying after shares hit six-month lows.

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