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Sunday, September 5, 2010 12:00 AM PDT

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Today's Business News: IMF's Lipsky says moderate world recovery underway Stocks rally as jobs data spurs optimism Venezuela OKs payment for French retailer Casino Taxpayers likely to face initial loss on GM IPO: sources China tells state companies to explore Potash bid Report: SEC Investigating canceled trades Summary Box: Unemployment rate rises to 9.6 pct Campbell reports Q4 profit rise on better margins Trichet calls for united EU at the IMF Petrobras sells 64 bln dlrs of stock to fund oil exploration Spending cuts before 2011 could hurt recovery: IMF, ILO Exclusive: American Apparel in talks with restructuring firm MGIC added $1.2B in mortgage coverage in August Key oil spill evidence raised to Gulf's surface Obama planning new package of economic aid Booming China auto industry faces over-capacity Crafting a Career in Eco-Chic Jewelry IMF's Lipsky says moderate world recovery underway Sat, 4 Sep 2010 10:07 pm PDT Reuters - The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's First Managing Director, John Lipsky, said on Sunday. Full Story Top Stocks rally as jobs data spurs optimism Fri, 3 Sep 2010 01:43 pm PDT Reuters - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession. Full Story Top Venezuela OKs payment for French retailer Casino Sat, 4 Sep 2010 02:09 pm PDT Reuters - Venezuelan President Hugo Chavez has approved a $690 million payment to French retailer Casino and other owners of a supermarket chain nationalized earlier this year, state media said on Saturday. Full Story Top Taxpayers likely to face initial loss on GM IPO: sources Fri, 3 Sep 2010 04:33 pm PDT Reuters - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said. Full Story Top China tells state companies to explore Potash bid Fri, 3 Sep 2010 08:09 pm PDT Reuters - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said. Full Story Top Report: SEC Investigating canceled trades Thu, 2 Sep 2010 05:25 am PDT AP - The Securities and Exchange Commission is looking into certain types of stock trade orders that could be distorting share prices and trading volume, according to The Wall Street Journal. Full Story Top Summary Box: Unemployment rate rises to 9.6 pct Fri, 3 Sep 2010 02:41 pm PDT AP - UNEMPLOYMENT RISES: The unemployment rate rose to 9.6 percent in August from 9.5 percent, as the nation lost 54,000 jobs. Private employers added a net total of 67,000 workers, but 114,000 temporary census jobs ended. Full Story Top Campbell reports Q4 profit rise on better margins Fri, 3 Sep 2010 01:48 pm PDT AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb. Full Story Top Trichet calls for united EU at the IMF Sat, 4 Sep 2010 10:58 am PDT AFP - European Central Bank chief Jean-Claude Trichet called Saturday for Europe to hold a united position on refomin the International Monetary Fund. Full Story Top Petrobras sells 64 bln dlrs of stock to fund oil exploration Fri, 3 Sep 2010 01:57 pm PDT AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century. Full Story Top Spending cuts before 2011 could hurt recovery: IMF, ILO Fri, 3 Sep 2010 10:53 am PDT AFP - The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery. Full Story Top Exclusive: American Apparel in talks with restructuring firm Fri, 3 Sep 2010 06:38 pm PDT Reuters - Hipster brand American Apparel Inc (APP.A) is in talks to bring in an outside restructuring firm as the manufacturer and retailer struggles to fix its flagging operations, sources told Reuters on Friday. Full Story Top MGIC added $1.2B in mortgage coverage in August Fri, 3 Sep 2010 11:50 am PDT AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined. Full Story Top Key oil spill evidence raised to Gulf's surface Sat, 4 Sep 2010 11:11 pm PDT AP - A crane hoisted a key piece of oil spill evidence to the surface of the Gulf of Mexico on Saturday, giving investigators their first chance to personally scrutinize the blowout preventer, the massive piece of equipment that failed to stop the gusher four months ago. Full Story Top Obama planning new package of economic aid Fri, 3 Sep 2010 12:44 pm PDT AP - Eager to jumpstart the economy ahead of crucial midterm elections, President Barack Obama said Friday he intends to unveil a new package of proposals, likely including tax cuts and targeted spending, to spark job growth. Full Story Top Booming China auto industry faces over-capacity Sat, 4 Sep 2010 11:56 pm PDT AFP - China should end preferential policies for automotive companies in order to curb over-capacity in an industry where sales jumped 55 percent in August, a government official said. Full Story Top Crafting a Career in Eco-Chic Jewelry Fri, 3 Sep 2010 05:08 am PDT BusinessWeek - Goldman Sachs (NYSE:GS - News) may not have a lot of friends in the White House these days, but one of its former employees has made a good impression. After three years as an analyst in Goldman's fixed-income, currencies, and commodities division, Monique Pean began her own jewelry line that can now be found in Barneys, Jeffrey New York, and around the neck of Michelle Obama. Full Story Top

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