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Asian stocks rise on profits

Asian stocks rose, sending the MSCI Asia Pacific Index to a fifth monthly gain, as earnings from Sony Corp. and Datang International Power Generation Co. and a commodities rally spurred confidence the economy is recovering. Sony, the maker of Vaio computers and PlayStation 3 game consoles, jumped 5.4 percent in …

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Bailed out US banks pay bonuses above net income

Bonuses paid to executives at nine banks that received U.S. government bailout money in 2008 were greater than net income at some of the banks, the office of New York Attorney General Andrew Cuomo said on Thursday. Cuomo, in a report on months of investigation into compensation paid by the …

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Oil prices hit above $67 in volatile week

Oil prices surged above $66 a barrel Thursday, rising in lockstep with major global indexes in what has become a very volatile week for energy markets. With regulators meeting in Washington to consider new limits on speculators that some blame for wild swings in oil and gas prices, crude fell …

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IMF approves $17b support for low income countries

The Executive Board of the International Monetary Fund (IMF) has approved measures to sharply increase resources to low-income countries in response to the global economic crisis. The measures described as unprecedented were announced in a press release Wednesday July 29, 2009. According to the press release, the resources which will …

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Ghanaian man wanted for identity theft in US

A Ghanaian man is wanted by the Kitty Hawk police in Dare County, North Carolina, USA for alleged identity theft. The man, 27-year-old Stephen Okyere Budu is wanted for allegedly involving in at least a dozen cases of identity theft and credit card fraud in Kitty Hawk and other locations …

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Chinese stocks to recover from fall

Chinese stocks will recover from their steepest drop since November and end the year higher as speculation that the government will limit bank loans is unfounded, billionaire investor Kenneth Fisher said. The nation’s economy is “gangbusters compared to the rest of the world, why would they try to kick that?” …

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China funded car plant opens in Angola

Angola plans to begin producing cars next month through a venture funded by a Chinese fund and based on technology from Japan’s Nissan Motor Co, the deputy general manager of the China International Fund said. CSG Automovel-Angola will be the country’s first car plant. The $30 million investment will produce …

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Mac flaw could let hackers get data

A Mac security expert has uncovered a technique that hackers could use to take control of Apple Inc computers and steal data that is scrambled to protect it from identity thieves. Prominent Mac researcher Dino Dai Zovi disclosed the software flaw at the Black Hat security conference in Las Vegas, …

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Organic food not nutritional, not healthier – Study

Organic food has no nutritional or health benefits over ordinary food, according to a major study published Wednesday. Researchers from the London School of Hygiene & Tropical Medicine said consumers were paying higher prices for organic food because of its perceived health benefits, creating a global organic market worth an …

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Most Asian stocks fall as commodities slump

Most Asian stocks declined as lower commodities prices dragged down materials producers, overshadowing better-than-expected earnings at Honda Motor Co. and Nissan Motor Co. BHP Billiton Ltd., the world’s biggest mining company, sank 1.4 percent in Sydney, and Mitsubishi Corp., which gets more than half its revenue from resources, slumped 2.6 …

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