BARACK OBAMA

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Key lawmaker seeks to beef up mortgage risk retention

Some low-risk home loans that meet certain underwriting guidelines will no longer be eligible for an exemption from a broader rule requiring so-called skin-in-the-game if House Financial Services Committee Chairman Barney Frank gets his way as lawmakers put the final touches on new rules for Wall Street.

U.S. not ready to let China off hook

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China's signal that it will ease its currency's 23-month-old peg to the dollar will spare the country from U.S. lawmakers' wrath only if it opens the door to significant upward movement in the yuan.
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Geithner says test is how much China yuan moves

Treasury Secretary Timothy Geithner welcomed China's decision on Saturday to make its yuan exchange rate more flexible, but said the test is how far and how fast they let the currency appreciate.
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China says hands off yuan but Obama talks tough

The United States pressed China on Friday to move toward a market-based exchange rate but Beijing said not to meddle with its management of the yuan, setting the stage for a clash at next week's G20 summit.
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CEO safe for now, heat on chairman: BP investors

BP CEO Tony Hayward may cling on after Thursday's mauling by U.S. lawmakers over the Gulf of Mexico oil spill, investors and analysts said, while chairman Carl-Henric Svanberg looked less secure.
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Investor mood lifts as BP survives spill grilling

BP shares gained in London on Friday after its boss survived a bruising encounter with U.S. lawmakers and as hopes rose its $20 billion oil spill compensation and clean-up fund will cap public anger.
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China says hands off yuan

China told the rest of the world on Friday not to meddle with the way it manages the yuan, setting the stage for a clash with its biggest trading partners at next week's G20 summit.
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Obama prods China on currency rates in G20 letter

President Barack Obama raised the prospect of a clash with China at a summit next week by calling for market-determined exchange rates, shortly after Beijing told the world not to criticize its currency policy.
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Stock futures signal pause in rally

Stock index futures pointed to a pause in the rally on Wall Street on Friday, with futures for the S&P 500 down 0.15 percent, Dow Jones futures down 0.06 percent and Nasdaq 100 futures down 0.03 percent at 0705 GMT.
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BP survives Washington week as investors weigh finances

BP Plc bosses weathered a week of anger in Washington but the energy giant's financial outlook faces renewed scrutiny from investors trying to gauge remaining costs and risks from the biggest oil spill in U.S. history.
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Lawmakers hand Fed another victory in Wall St bill

The Federal Reserve on Thursday won another battle to maintain its independence as lawmakers crafting a final Wall Street reform bill dropped a plan to make one of its top officials a political appointee.
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Lawmakers slam BP's Hayward over Gulf spill

Angry U.S. lawmakers hammered BP Chief Executive Tony Hayward at a congressional hearing on Thursday, accusing his company of taking extreme risks that triggered the worst oil spill in U.S. history.
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Jobless claims rise, inflation tame

New claims for jobless aid rose last week while consumer prices notched their largest decline in nearly 1-1/2 years in May, suggesting interest rates will remain ultra low to nurse the fragile economic recovery.
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Wall Street bill likely to preserve Fed independence

After suffering sustained criticism of its role in the financial crisis, the Federal Reserve looked set on Wednesday to emerge from an overhaul of financial regulations with its jealously guarded independence intact.
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Wall Street bill preserves Fed's independence

After suffering sustained criticism of its role in the financial crisis, the Federal Reserve emerged on Wednesday from an overhaul of financial regulations with its jealously guarded independence intact.
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BP agrees to $20 billion fund for spill claims

BP Plc on Wednesday agreed to a demand by U.S. President Barack Obama to pay $20 billion into a special fund to handle claims from its huge Gulf of Mexico oil spill and said it was suspending payment of dividends this year.

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