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Venezuela assumes control of bank

July 4, 2009 – 7:47 am Venezuela's government formally takes control of the country's third largest bank - the Spanish-owned Banco de Venezuela. Read the rest of the story...

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Shanghai plans own “Wall Street bull”: report

July 4, 2009 – 5:01 am BEIJING (Reuters) - Wall Street may be down on its luck, but China's growing business hub, Shanghai, plans to install its own version of the Street's famed charging bull statue, casting in metal its hopes to eventually rival New York. Read the rest of the story...

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About 10 firms submit bids for AIG Taiwan unit: reports

July 4, 2009 – 4:38 am TAIPEI (Reuters) - About 10 global and Taiwan financial firms have submitted bids to buy troubled AIG's Taiwanese insurance unit, newspapers said on Saturday, in a deal that could fetch up to over $2 billion. Read the rest of the story...

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Teck to sell 17 percent stake to China for C$1.74 billion

July 3, 2009 – 10:29 pm TORONTO (Reuters) - Teck Resources said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp in a deal that will help the Canadian miner pay down its debt while expanding China's portfolio of commodity investments. Read the rest of the story...

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Stanford clients sue insurance broker Willis Group

July 3, 2009 – 9:48 pm NEW YORK (Reuters) - Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd , contending it was a willing participant in a $7 billion fraud at the Texas-based investment company. Read the rest of the story...

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Dollar status unlikely to be in G8 communique: G8 source

July 3, 2009 – 7:18 pm (Reuters) - The dollar's status as the top global reserve currency is unlikely to be mentioned explicitly in the final communique at next week's Group of Eight summit, a European G8 source involved in preparations for the meeting said on Friday. Read the rest of the story...

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Oil falls below $66 after bleak U.S. jobs data

July 3, 2009 – 6:42 pm LONDON (Reuters) - Oil dropped a dollar to below $66 a barrel on Friday after unemployment data hardened views economic weakness would sap energy demand and that last month's rally was overdone. Read the rest of the story...

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Medici lawyer says Kohn didn’t get Madoff payments

July 3, 2009 – 6:17 pm NEW YORK/VIENNA (Reuters) - Austrian fund manager Sonja Kohn did not receive any kickbacks from Bernard Madoff to steer Bank Medici customer funds to the swindler's investment business, a Medici lawyer said on Friday. Read the rest of the story...

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Major nations should back dollar as key currency: Japan

July 3, 2009 – 6:09 pm TOKYO (Reuters) - Major countries should support the dollar as the key international currency, although emerging nations may discuss a new global reserve currency on the sidelines of the G8 summit next week, a Japanese official said on Friday. Read the rest of the story...

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CEOs use Obama visit to press Russia on rule of law

July 3, 2009 – 6:08 pm MOSCOW (Reuters) - U.S. businessmen are expected to use a Russia-U.S. business summit on Tuesday to press Moscow to rein in corruption and improve conditions for western companies operating in the country. Read the rest of the story...

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