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S&P cuts Greek debt to junk, downgrades Portugal

Rating agency Standard and Poor's slashed Greek debt to junk status on Tuesday and also downgraded Portugal, as investors worried political pressures could block a multi-billion euro bailout of Greece.

Five Charming US Cities

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Quick. Name five of the busiest tourist towns in the US. Got it? Now, try to imagine how those cities looked years ago, before the influx of tacky souvenir shops and overcrowded buses, when mom and pop stores still adorned the main streets and where a familiar face greeted you at every corner.

RIM shows new operating system

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Research in Motion gave analysts a sneak peek at a revamped operating system for its BlackBerry smartphone on Monday and said it would launch it next quarter, propelling its shares higher.
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RIM unveils rejigged BlackBerry models

Research in Motion is launching variations of two existing BlackBerry smartphones, the company said on Monday, and its co-chief executive hinted that much-anticipated announcements on a new operating system and browser are also on the way.
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Regulators seize eight banks

U.S. regulators on Friday seized eight banks with assets totaling more than $6 billion, raising the tally this year to 51 failed banks and adding to the carnage of small institutions that is expected to peak this year.
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Fed up flyers flirt with train travel

NEW YORK (Reuters Life!) - After idling for decades, train travel in the United States, while not quite out of the station, is beginning to work up a healthy head of steam.
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Fed officials back extended period language

Top Federal Reserve officials on Thursday showed little urgency about softening the central bank's commitment to hold rates low for a long time, suggesting the Fed will repeat the pledge when it meets late this month.
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Foreclosures drop 2nd straight month in February

U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed.
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Special Report: Sweethearts in crime

Jeffery Stone and his wife Janette Diller Stone, one-time operators of a now-defunct New York investment firm called Crescent Fund, are not on any government most wanted list. And they aren't exactly hiding, either. But the former Greenwich, Connecticut, residents owe U.S. regulators nearly a half-million dollars in fines and restitution for their part in a five-year-old penny stock manipulation ...
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Florida says challenge to healthcare reform widens

(Reuters) - Five more states are joining a Florida-led group of states in a lawsuit challenging President Barack Obama's overhaul of the U.S. healthcare system, Florida's attorney general said on Wednesday.
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Retail property gouged by record vacancies

Vacancy rates at U.S. shopping centers and malls rose to the highest levels in at least 10 years in the first quarter, accompanied by a drop in rents that wiped out years of growth, research firm Reis Inc said on Wednesday.
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AutoNation raises earnings forecast

AutoNation Inc, the largest U.S. auto dealership group, raised its first-quarter earnings forecast on Tuesday and left revenue and other outlooks intact, sending its shares up nearly 3 percent.
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Jobs, profit hopes may drive rally

Optimism about an improving labor market and corporate profits could propel U.S. stocks higher next week as earnings season approaches.
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Obama admin expands housing hardest hit fund

The Obama administration on Monday unveiled another bailout program for troubled homeowners, pledging to divert $600 million in housing rescue funds to 5 more states on its list of hardest-hit markets.
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Amid housing downturn, Toll downsizes its homes

Toll Brothers Inc, which dominates the market for large, expensive houses known as McMansions, is shrinking its square footage as the worst housing market downturn since the Great Depression grinds on.
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Obama signs historic healthcare reform into law

(Reuters) - A jubilant President Barack Obama signed the most sweeping U.S. social policy legislation in decades into law on Tuesday, putting his name on a healthcare bill that will help shape his legacy and the Democrats' chances of holding on to power in Congress.
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Lennar posts narrower-than-expected loss

Top-five homebuilder Lennar Corp reported a narrower-than-expected quarterly loss on Wednesday and said it was on track to make a profit in 2010, sending shares up nearly 5 percent in early trading.
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Health reform leaves Americans split, confused

(Reuters) - The overhaul of the healthcare system is being hailed in political circles as the biggest health policy change in four decades, but President Barack Obama's landmark reform has left some Americans divided and confused.

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