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Global stock markets were uninspired by an upbeat report on the U.S. economy, with most drifting lower Thursday after the U.S. Federal Reserve said it would make further cuts to its monetary stimulus as expected. Investors are now reckoning with an expiry date for the lavishly easy monetary policy that has underpinned gains in global stock markets for years.
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US jobless aid applications rise to 302,000

Josh Boak, Associated Press  |  posted 39 minutes ago
More people sought U.S. unemployment benefits last week, but jobless claims remain at pre-recession levels.
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Target names Pepsi's Cornell as chairman, CEO

The Associated Press  |  posted 41 minutes ago
Target is bringing in an outsider as its CEO for the first time as the retailer fights to redefine itself to American shoppers.
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Argentina slides into default as debt talks fail

Claudia Torrens, Associated Press  |  posted Jul 31st - 6:22am
The collapse of talks with U.S. creditors sent Argentina into its second debt default in 13 years and raised questions about what comes next for financial markets and the South American nation's staggering economy.
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Obama cracks down on labor breaches by contractors

Josh Lederman, Associated Press  |  posted Jul 31st - 6:21am
Some companies that earn billions of dollars as government contractors are among the worst violators of U.S. labor laws, yet year after year they keep winning new contracts. So President Barack Obama is aiming to end impunity for labor violators by pushing companies to clean up their act if they want to keep taking federal money.
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Ailing Portuguese bank's shares sink after losses

Barry Hatton, Associated Press  |  posted Jul 31st - 5:21am
The woes of troubled Portuguese bank Banco Espirito Santo deepened Thursday as its share price plunged on the Lisbon stock exchange, a day after it reported a record half-year loss of 3.58 billion euros ($4.8 billion).
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Michigan inmates may get costly hepatitis C drug

The Associated Press  |  posted Jul 31st - 4:41am
A new hepatitis C treatment that costs $1,000 pill is expected to be available to Michigan inmates.
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Russia tensions hurting European companies

Geir Moulson, Associated Press  |  posted 29 minutes ago
Russia's standoff with the West is hurting European companies, from heavy industry to sports goods makers, even before the latest sanctions have a chance to take effect.
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Panel wants TEPCO execs charged over nuke crisis

Mari Yamaguchi, Associated Press  |  posted 30 minutes ago
A Japanese judicial panel has recommended that three former executives of the utility that operates the damaged Fukushima nuclear plant face criminal charges over their role in the disaster.
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Applications for US unemployment benefits increase to 302k; still at pre-recession levels

The Associated Press  |  posted 51 minutes ago
Applications for US unemployment benefits increase to 302k; still at pre-recession levels.
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Eurozone inflation down again but ECB seen on hold

Juergen Baetz, Associated Press  |  posted Jul 31st - 6:31am
The inflation rate in the 18-nation eurozone dropped again in July, official data showed Thursday, in a worrying sign that adds pressure on the European Central Bank to beef up its efforts to spur the economy.
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Russia ordered to pay another $2.5 bln for Yukos

The Associated Press  |  posted Jul 31st - 6:01am
The European Court of Human Rights on Thursday ordered Russia to pay out another 1.9 billion euros ($2.5 billion) to a group of shareholders of Yukos, the oil company the government dismantled over a decade ago.
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As US economy accelerates, Fed remains cautious

Martin Crutsinger, Associated Press  |  posted Jul 31st - 5:30am
After a grim start to 2014, the U.S. economy has rebounded with vigor and should show renewed strength into next year.
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Target hires PepsiCo exec Brian Cornell as new chairman and CEO as it works to recover

The Associated Press  |  posted Jul 31st - 5:10am
Target hires PepsiCo exec Brian Cornell as new chairman and CEO as it works to recover.
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Philippine central bank raises interest rate

The Associated Press  |  posted Jul 31st - 5:00am
The Philippine central bank has raised its key interest rate by a quarter percentage point to counter inflation.
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