 |
 Reuters - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession. |
| Stocks rally as jobs data spurs optimism
(Reuters)
|
 Reuters - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said. |
| Taxpayers likely to face initial loss on GM IPO: sources
(Reuters)
|
 Reuters - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring was a positive surprise, relieving concerns about a stalling economic recovery. |
| Payrolls data offer ray of hope for recovery
(Reuters)
|
 Reuters - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said. |
| China tells state companies to explore Potash bid
(Reuters)
|
 Reuters - President Barack Obama said on Friday he would outline new measures next week to boost the U.S. economy, but analysts were skeptical he would be able to deliver a big enough package to lift growth significantly. |
| Obama to address new economic ideas next Wednesday
(Reuters)
|
| Reuters - A former hedge fund manager has been accused by a U.S. regulator of illegal insider trading in MedImmune Inc securities prior to the acquisition of the pharmaceutical company by Britain's AstraZeneca Plc. |
| Ex-hedge fund manager charged with insider trading
(Reuters)
|
 AP - A $1.6 billion congressional bailout of sorts could help financially flailing groups that fight to keep young people out of trouble, yet lawmakers are reluctant to take up the expensive proposal amid a sour economy and other, more pressing issues. |
| Broke youth anti-crime groups want federal cash
(AP)
|
 AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb. |
| Campbell reports Q4 profit rise on better margins
(AP)
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 AP - Is the global economy out of the woods? Two years after near-meltdown, with the U.S. looking sluggish, equity markets groggy and Europeans fighting a debt crisis, experts gathered in Italy offered a generally gloomy outlook — especially for the United States and much of the industrialized world. |
| Experts see trouble ahead for developed world
(AP)
|
 AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century. |
| Petrobras sells 64 bln dlrs of stock to fund oil exploration
(AFP)
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 AFP - The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery. |
| Spending cuts before 2011 could hurt recovery: IMF, ILO
(AFP)
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| AP - Walgreen Co. reported same-store-sales rose 2.1 percent for August on Friday, just shy of Wall Street estimates. |
| Walgreen August same-store sales rise 2.1 percent
(AP)
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| AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined. |
| MGIC added $1.2B in mortgage coverage in August
(AP)
|
 AP - What now for the Gulf? News of another oil rig fire in the Gulf of Mexico, so soon after the BP oil spill, has set off a wave of anxiety along the Gulf Coast and prompted calls for the government to extend its six-month ban on deepwater drilling. |
| What now for Gulf? Fire complicates drill debate
(AP)
|
| Reuters - Actor Paul Hogan, star of the "Crocodile Dundee"movies, has struck a deal with Australia's tax office which will allow him to return home to his family in Los Angeles, his lawyer said on Friday. |
| Stranded actor Paul Hogan in Australia tax deal
(Reuters)
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