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Pimco's assets under management exceed $1 trillion

Pacific Investment Management Co, the world's biggest bond fund, has seen assets under management exceed $1 trillion for the first time, underscoring investors' appetite for yield and portfolio diversification.

U.S. financial crisis panel to call Greenspan, Cox

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U.S. regulators admitted to failing to head off the 2008 financial crisis as they appeared before a panel whose chairman said he plans to seek testimony from former Federal Reserve Chairman Alan Greenspan.

U.S. 2009 foreclosures shatter record despite aid

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U.S. foreclosure actions shattered all records in 2009 and will do so again this year, with unemployment and wage cuts overcoming programs to remedy failing home loans, RealtyTrac said on Thursday.
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Native American tobacco gains from tax hike

As the economic downturn persists, lawmakers are increasing tobacco product taxes. This is changing the tobacco market, says 7 Leaf Trading Post CEO Ric Gardiner, and Native American and all-natural cigarettes may be a big beneficiary.
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Los Angeles Times to cut 80 jobs

Tribune Co's Los Angeles Times said it would close its printing operations in Orange County, California, resulting in about 80 layoffs, as part of cost-cutting measures.
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NY Fed sought to limit AIG bank disclosures

The New York Federal Reserve Bank under Timothy Geithner urged insurer AIG in late 2008 to limit disclosures about its payments to banks after getting a $180 billion government bailout, emails released on Thursday showed.
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Ex-McKinsey exec: Rajaratnam paid $1.75 million for tips

A former director of McKinsey & Co told a court on Thursday that Galleon hedge fund founder Raj Rajaratnam paid him $1.75 million in exchange for tips on clients of the consulting firm, giving prosecutors potentially more ammunition in the insider-trading case.
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Ex-McKinsey exec says Rajaratnam paid $1.75 mln

A former McKinsey & Co director told a court on Thursday that Galleon hedge fund founder Raj Rajaratnam paid him $1.75 million in exchange for confidential information on clients to make illegal stock trades.
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RBS Sempra gets 3 bids worth near $4 bln -source

Royal Bank of Scotland (RBS.L) and Sempra Energy (SRE.N) have received bids for their commodities joint venture from a trio of banks keen to expand in the booming business, a person familiar with the matter said.
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U.S. firm sues China, PC majors over filter software

A U.S. software maker is suing China, several major PC makers and two Chinese software makers for $2.2 billion, accusing them of using stolen code in controversial Web filtering software that drew global criticism last year.
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U.S. firm sues China, PC majors over filtering software

A U.S. software maker is suing China, several major PC makers and two Chinese software makers for $2.2 billion, accusing them of using stolen code in controversial Web filtering software that drew global criticism last year.
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Polanski hearing could bring new defense strategy

Lawyers for fugitive director Roman Polanski return to a Los Angeles court on Wednesday and are expected to detail their next steps in a bid to resolve a 30-year-old sex charge against the Oscar-winning maker of The Pianist.
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France wants to add more countries to risk list

France's interior minister wants to add 23 countries to a list of places whose air travelers face tighter security measures, in response to the botched bombing of a U.S.-bound airliner last month.
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Study turns up 10 autism clusters in California

U.S. researchers have identified 10 locations in California that have double the rates of autism found in surrounding areas, and these clusters were located in neighborhoods with high concentrations of white, highly educated parents.
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Unlimited credit for GSEs seen as backdoor bailout

At a hearing last fall, U.S. Treasury Secretary Timothy Geithner told lawmakers that he and his team were working to put the $700 billion financial bailout fund out of its misery. But some in Washington now see a second, backdoor bailout in its place.
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Google Unveils 'Super Phone' Nexus One, Sells Phone Directly to Customers

Google unveiled the Nexus One smartphone on Tuesday and showed off its many features during a press event, and unveiled its new Web store which will sell the device directly to customers. The Google Nexus comes unlocked to consumers who wish to purchase it online for $529, or $179 with a two-year contract from T-Mobile.
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Rapper Game finds mentor, friend in Williams

Once upon a time, gangster rapper Game had preconceived notions about eccentric rapper/producer Pharrell Williams -- and vice versa. But the two have since put aside their differences; Williams is the executive producer of Game's fourth studio album, R.E.D..
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Wall Street cool on rumored Google phone launch

Google Inc is expected to unveil its highly anticipated Nexus One smartphone on Tuesday, marking a first foray into an increasingly crowded market that could shape the future of the company's advertising business.

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