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Currencies
Euro Advances Versus Yen as Australian GDP Report Spurs Recovery Optimism The euro strengthened against the yen after a report showed Australia's economy unexpectedly grew last quarter, boosting demand for higher-yielding currencies.
Service Industries in U.S. Probably Shrank at Slowest Pace in Eight Months U.S. service industries probably contracted at a slower pace in May, adding to signs the economic slump is abating, economists said before a report today.
Cinnamond Tops Pimco's Gross in Lone Victory for Stock Manager Over Bonds At a time when bonds are outperforming equities, Eric Cinnamond is the only diversified stock manager to beat Bill Gross's Pimco Total Return Fund, the world's biggest fixed-income fund.
Argentina-Venezuela Bond Default Risk Head Toward 'Parity': Chart of Day Argentina's default risk may converge with Venezuela's as President Cristina Fernandez de Kirchner pushes to regain access to international debt markets while Hugo Chavez's nationalizations drive away investors, according to RBS Securities Inc.
JPMorgan Said to Disband Hedge Fund, Buyout Investing Units Led by Case JPMorgan Chase & Co. is disbanding an investment-banking unit that wagers the company's money on hedge funds, leveraged buyouts and real estate, two people familiar with the plan said.
GM Plans to Sell Hummer to China's Tengzhong, Saving More Than 3,000 Jobs General Motors Corp., seeking to shed assets to emerge from bankruptcy, agreed to sell the Hummer sport-utility vehicle brand to China's Sichuan Tengzhong Heavy Industrial Machinery Co.
Fed Is Said to Raise Capital Standards for Banks Seeking to Pay Back TARP Federal Reserve officials surprised bankers in the past week by demanding they raise specific amounts of new capital before repaying taxpayer funds, applying a more stringent assessment than the stress tests in May.
U.K. Pound Advances for Fourth Day Against U.S. Dollar, Rises Versus Euro The U.K. pound advanced against the dollar for a fourth day.
Darth Vader Lures British Voters Aiming to Give Lawmakers a 'Bloody Nose' Darth Vader dreamed of ruling a galaxy far, far away. For Dave Prowse, the actor who played him, it would be enough to get Britain out of the European Union.
Hypo Real Estate Investors Back Capital Increase as Nationalization Nears Hypo Real Estate Holding AG shareholders backed a government capital increase that paves the way for Germany's first bank nationalization since the 1930s.
ECB Can Expand Asset Purchases, Nowotny Says in May 29 Letter to Hoteliers European Central Bank council member Ewald Nowotny wrote last week that the bank can expand its asset-purchase program to buy commercial paper or bonds, a letter obtained by Bloomberg News shows.
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