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Thursday, March 3, 2011 12:00 AM PST

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Today's Business News: Oil drops as Libya peace plan mooted, stocks firm Treasury expects $6.3 billion from AIG's MetLife sale Special Report: Wall Street wannabe points to China's growth Bernanke sees 200,000 hit to jobs from budget cuts Apple's Jobs puts on lively iPad 2 show Libya: live report Oil jumps above $102 per barrel Costco cites pricing pressure Clegg urges 'new deal' in EU-North Africa ties How Your Credit Score Affects Your Mortgage Inflation rising in Asia, emerging economies: IMF German retail sales gain 2.6 pct in January KB Home CEO gets $6.1 million in 2010 compensation Malaysia's Petronas post 74% rise in profits Treasury: $6.3B return from stock sale by AIG S. Korea output rises faster than expected Where the Richest People Live Oil drops as Libya peace plan mooted, stocks firm Wed, 2 Mar 2011 11:55 pm PST Reuters - Oil prices dropped on Thursday as the Arab League said a peace plan for Libya put forward by Venezuela's Hugo Chavez was under consideration, while upbeat U.S. economic news helped lift Asian stock markets. Full Story Top Treasury expects $6.3 billion from AIG's MetLife sale Wed, 2 Mar 2011 06:52 pm PST Reuters - American International Group Inc sold $9.6 billion worth of MetLife Inc shares on Wednesday, producing gross proceeds of about $6.3 billion to accelerate its payback of U.S. Treasury bailout funds. Full Story Top Special Report: Wall Street wannabe points to China's growth Wed, 2 Mar 2011 10:29 pm PST Reuters - Yujiapu does not roll off the tongue like Wall Street, but planners in the northern Chinese port city of Tianjin hope it soon will. Full Story Top Bernanke sees 200,000 hit to jobs from budget cuts Wed, 2 Mar 2011 05:27 pm PST Reuters - Federal Reserve Chairman Ben Bernanke said on Wednesday a Republican spending cut plan would not cause a big dent to U.S. economic growth, but could cost around 200,000 jobs over two years. Full Story Top Apple's Jobs puts on lively iPad 2 show Wed, 2 Mar 2011 08:35 pm PST Reuters - A thin but energetic Steve Jobs made a surprise return to the spotlight on Wednesday, taking the stage to unveil Apple Inc's new iPad and drawing a standing ovation. Full Story Top Libya: live report Wed, 2 Mar 2011 10:33 am PST AFP - 1830 GMT: European stock markets fall over concerns relating to instability in the Middle East and North Africa, despite a strong US jobs figure. Full Story Top Oil jumps above $102 per barrel Wed, 2 Mar 2011 01:23 pm PST AP - Oil prices settled above $102 per barrel for the first time since the recession as fighting escalated in Libya and petroleum demand grew in the U.S. Full Story Top Costco cites pricing pressure Wed, 2 Mar 2011 04:15 pm PST Investor's Business Daily - The nation's largest warehouse chain said its Q2 earnings rose 13% to 79 cents, meeting views. Sales climbed 11% to $20.88 bil, topping estimates. Costco Wholesale (NMS:COST) said sales at stores open at least a year grew 7%, vs. a 12% rise in int'l and 5% in the U.S. But Costco cautioned that rising commodity costs will put pressure on future results. Shares slid 2.5% to 71.76. Full Story Top Clegg urges 'new deal' in EU-North Africa ties Wed, 2 Mar 2011 11:19 am PST AFP - Deputy premier Nick Clegg on Wednesday urged Europe to match the bravery of the Arab street with "a bold new" economic offer coupled with support for political pluralism. Full Story Top How Your Credit Score Affects Your Mortgage Wed, 2 Mar 2011 12:22 pm PST U.S. News & World Report - When my wife and I bought our first home (circa 1993), we had no idea what our FICO score was. Back in the day, you couldn't simply fire up the computer and check your score. In fact, we applied for our mortgage over the phone, not over the Internet. My, how things have changed! Full Story Top Inflation rising in Asia, emerging economies: IMF Wed, 2 Mar 2011 02:50 pm PST AFP - A top International Monetary Fund official expressed concern Wednesday about overall inflation in emerging countries beyond the current spike in food and commodity prices. Full Story Top German retail sales gain 2.6 pct in January Wed, 2 Mar 2011 11:23 pm PST AFP - German retail sales gained 2.6 percent in January from the same month a year earlier at constant prices, and 3.8 percent in nominal terms, the federal statistics office said. Full Story Top KB Home CEO gets $6.1 million in 2010 compensation Wed, 2 Mar 2011 08:25 pm PST AP - KB Home CEO Jeffrey Mezger received compensation valued at about $6.1 million in fiscal 2010, about 17 percent less than what he got the year before, according to an Associated Press review of data filed with regulators. Full Story Top Malaysia's Petronas post 74% rise in profits Wed, 2 Mar 2011 10:12 pm PST AFP - Malaysian state energy firm Petronas said oil prices would stay above $100 over the next few months as it posted a 74 percent jump in net profit, partly helped by the rising cost of crude. Full Story Top Treasury: $6.3B return from stock sale by AIG Wed, 2 Mar 2011 06:26 pm PST AP - The Treasury Department said Wednesday that a sale of MetLife Inc. stock by American International Group Inc. brought in $6.3 billion, which will go toward repaying a portion of the taxpayer bailout of the insurance company. Full Story Top S. Korea output rises faster than expected Wed, 2 Mar 2011 10:11 pm PST AFP - South Korea's industrial output grew faster than expected in January on strong overseas demand, with semiconductor and auto makers leading the way, official figures showed Thursday. Full Story Top Where the Richest People Live Wed, 2 Mar 2011 05:08 am PST BusinessWeek - Beverly Hills famously has some of the country's most valuable real estate. On the western end of the city, between the Los Angeles Country Club and North Beverly Drive, the median home value is about $3 million, according to real estate website NeighborhoodScout.com, and many properties cost far more. This posh neighborhood in the 90210 zip code is lined with pristine single-family homes, most with at least four bedrooms. Full Story Top

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