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Yellen Said to Be Obama?s Pick for Fed Vice Chairman Position

March 11 (Bloomberg) -- Federal Reserve Bank of San Francisco President Janet Yellen is President Barack Obamas pick for vice chairman of the central bank in Washington, two people with knowledge of the selection process said. The nomination is pending
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Turkey Sells $1 Billion of 11-Year Bonds in Overseas Markets

March 11 (Bloomberg) -- Turkey sold $1 billion of 11-year dollar bonds in its first test of investor demand since ending financing talks with the International Monetary Fund. Turkey sold the securities to yield 2.03 percentage points above U.S.
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Hedge Funds: Goldman's Flamand leaves to start his own fund

Story Quotes Comments Screener AlertEmail Print SAN FRANCISCO (MarketWatch) -- The head of a big proprietary-trading group at Goldman Sachs Group Inc. is leaving the investment bank to start his own hedge fund. Pierre-Henri Flamand, who ran Goldman's
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Fed's Dudley: Waiting to fix fiscal problems risky

WASHINGTON (Reuters) - Governments must not put off addressing large debt burdens, because doing so could result in even greater fiscal problems down the road, a top U.S. Federal Reserve official said on Thursday. William Dudley, president of the New
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Derivatives transparency is key battleground

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Japanese Stock Futures Rise on BOJ Speculation; Australia Gains

March 12 (Bloomberg) -- Japanese stock futures rose on speculation the central bank will loosen monetary policies and after the yen weakened. Australian shares gained. New York-traded securities of Nissan Motor Co., a carmaker that gets 77 percent of its
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Hedge Funds: Goldman's Flamand leaves to start his own fund

By Alistair Barr, MarketWatch SAN FRANCISCO (MarketWatch) -- The head of a big proprietary-trading group at Goldman Sachs Group Inc. is leaving the investment bank to start his own hedge fund. Pierre-Henri Flamand, who ran Goldman's
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US stocks higher in late turnaround

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Junk Bonds Pull Ahead as TXU, Freescale Soar: Credit Markets

March 11 (Bloomberg) -- High-yield, high-risk bonds are beating investment-grade debt for the first time this year as confidence in the U.S. economic recovery gains strength. Speculative-grade securities have returned 1.93 percent this month, bringing
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Fed emergency loans decline in past week

WASHINGTON -- Banks borrowed less from the Federal Reserve's emergency lending program over the past week, providing further evidence that the strains caused by the financial crisis are easing. The Fed reported that daily borrowing from its emergency
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Stocks up for 3rd day; financial shares rise

NEW YORK - A rally in financial stocks Thursday helped the market extend its grind higher to a third day. The Standard & Poor's 500 index cleared an important hurdle watched by traders when it closed just above its January peak to set a new 17-month
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GMAC?s Chief Said to Get $9 Million Stock Compensation, No Cash

March 11 (Bloomberg) -- Michael Carpenter, GMAC Inc.?s chief executive officer, will get a 2010 pay package of about $9 million entirely in stock, and some or all won?t vest until later years, according to a person with direct knowledge of the
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U.S. Stocks Gain as S&P 500 Rallies to Highest Level Since 2008

March 11 (Bloomberg) -- U.S. stocks rose, sending the Standard & Poor?s 500 Index to the highest level since October 2008, as Citigroup Inc. led a bank rally and investors speculated that health-care reform will be harder to pass. Citigroup advanced
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S&P 500 hits 17-month high as banks lift Wall St

NEW YORK (Reuters) - The S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted stocks on Thursday, more than offsetting worries China may move to cool its overheating economy. Financial stocks added to recent sharp gains,
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Miners lead Footsie lower despite rise in metals prices

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Boutique boom fading as Wall St banks expand

By John Parry - Analysis NEW YORK (Reuters) - The window of opportunity is closing for boutique bond trading firms to make a killing from market turmoil as big Wall Street banks regain their footing and rehire staff. During the financial crisis and its
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U.S. Stocks Gain, Driving S&P 500 to Highest Level Since 2008

March 11 (Bloomberg) -- U.S. stocks rose, sending the Standard & Poors 500 Index to the highest level since October 2008, as Citigroup Inc. and Zions Bancorporation led a bank rally and investors speculated that health-care reform will be harder to pass.
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Europe and U.S. Quarrel Over Hedge Funds

The European Union on Thursday rebutted criticism by the United States of its plans to tighten the rules on hedge funds, even as Britain sought to water down the regulation to safeguard its own financial sector, The New York Times?s James Kanter
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Dow CEO: Don't Waste Nat Gas As Transport Fuel

Dow Chemical Chief Executive Andrew Liveris, in a speech at the CERAweek energy conference Thursday afternoon, laid out his position on trends in the energy industry. He said he favors government mandates on energy conservation, and lauded new natural
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CBOE files for IPO

nd-alone exchange crossed a milestone Thursday in its long-delayed effort to demutualize and launch an initial public offering. The Chicago Board Options Exchange has submitted S-1 and S-4 documents with the Securities and Exchange Commission for an IPO
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U.S. Stocks Advance as Health-Care Companies, Banks Lead Rally

March 11 (Bloomberg) -- U.S. stocks rose, reversing earlier losses, as Citigroup Inc. and Zions Bancorporation led a bank rally and investors speculated that health-care reform will be harder to pass. Citigroup advanced 4.6 percent as Chief Executive
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California bonds in demand

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Disparity in default rates of toxic assets

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Stocks recover in late trade

Hot Stocks Dow 30 The Dow Jones industrial average (INDU) added 20 points with about 15 minutes left in the session. The S&P 500 index (SPX) also added a few points. Both ended the previous session at 6-week highs. The Nasdaq composite (COMP) gained 3
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Goldman's Flamand to start own hedge fund: report

SAN FRANCISCO (MarketWatch) -- The head of Goldman Sachs Group Inc.'s largest hedge fund, Pierre-Henri Flamand, is leaving to start his own fund, Bloomberg News reported Thursday, citing three unidentified sources close to the matter. Flamand, 39,
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Vale turns up heat on iron ore prices

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U.S. Economy: Trade Deficit Unexpectedly Shrinks (Correct)

(Corrects household wealth in seventh paragraph.) March 11 (Bloomberg) -- The trade deficit in the U.S. unexpectedly narrowed in January as imports fell for the first time in five months, indicating demand is cooling following the fastest pace of growth
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The E.U. and U.S. Quarrel Over Hedge Funds

BRUSSELS The European Union on Thursday rebutted criticism by the United States of its plans to tighten the rules on hedge funds, even as Britain sought to water down the regulation to safeguard its own financial sector. The trans-Atlantic dispute broke
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Stocks trade flat after inflation jumps in China

NEW YORK - The stock market traded in a tight range for a fourth day Thursday after China reported a jump in inflation. Mixed U.S. economic news also held stocks back. China said its inflation rate rose to 2.7 percent in February from 1.5 percent in
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Most U.S. Stocks Decline on Speculation China Will Boost Rates

March 11 (Bloomberg) -- Most U.S. stocks fell as higher- than-estimated inflation in China spurred speculation the nation will be forced to raise interest rates while technology companies and banks rallied. Deere & Co. and AK Steel Holding Corp. fell at
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