Investors were playing it safe today, making few moves as they awaited a reading on just how weak the economy was during the fourth quarter. The Commerce Department is expected to report today that the gross domestic product, the widely…

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Investors await reading on fourth-quarter economy

NEW YORK (Reuters) – S&P stock futures extended declines on Friday after quarterly results showed sales at Honeywell and Procter and Gamble fell short of estimates.

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S&P futures fall on earnings, GDP eyed

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Philippine Semiconductor Industry Braces for Tougher Times

Caught between dismal U.S. economic numbers and news of possible further OPEC cuts, oil prices hovered Friday near their previous close below $42 a barrel. Investors remained timid ahead of a U.S. Commerce Department report, which is expected later Friday to…

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Oil below $42 on dismal US economic outlook

Germany’s foreign minister urged Iran Friday to respond positively to the new U.S. administration’s offer of direct engagement, calling on its leaders to “be sensible” for their own people’s sake. The new U.S. ambassador to the U.N., Susan Rice, has said…

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Germany urges Iran to engage with US

European markets were mixed Friday, after sharp losses in Japan, amid more dismal economic numbers and quarterly reports from leading companies like Sony and Honda showing plunging profits. In Europe, banking and mining stocks were stronger, but trading was…

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World markets mixed on weak economy, earnings

Swiss pharmaceuticals company Roche Holding AG made a fresh bid to buy U.S.-based Genentech Inc. Friday by offering $86.50 per share _ $2.50 less than its previous offer _ directly to shareholders. The move by Roche, which already owns 55.8 percent of…

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Roche makes lowered, hostile bid for Genentech

The World Economic Forum settled back into even-tempered discussion of global warming, help for Africa and the faltering world economy on Friday, a day after Middle East tensions ruffled the elite gathering. An outburst by Turkish Prime Minister Recep Tayyip…

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Environment, Africa in focus at Davos

US Airways awarded top customer status, but for just one year, to the 150 passengers on Flight 1549 that splashed down in the Hudson River Jan. 15, according to a report in the New York Post. The report said some…

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US Airways gives temporary upgrades to Hudson splashdown passengers

Sparta has announced it will work with Riverbank Power Corp. of Ontario, Canada, to determine whether a 100-year-old quarry founded by Thomas Edison could be developed into an underground hydro generation plant, Sparta Mayor Thomas Brady said Thursday, according to…

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Sparta picks firm to help create hydro generation plant in 100-year-old quarry

A mine founded by Thomas Edison could end up generating electricity, Sparta Mayor Thomas Brady said Thursday, according to a report in the Daily Record. The report said Sparta entered an agreement with Riverbank Power Corp. of Ontario, Canada, to…

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Sparta mine may become hydro generation plant

Israeli President Shimon Peres says his heated public exchange with Turkey’s prime minister was not personal and ties between the two nations won’t change. Peres defended his unusually passionate speech at a session of the World Economic Forum as called for…

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Peres: Outburst won’t hurt Israel-Turkey ties

NEW DELHI (Reuters) – The race to acquire Satyam Computer Services , the outsourcing firm snared in India’s biggest corporate scandal, heated up as diversified Spice Group offered to buy a 51 percent stake, joining other potential bidders.

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India’s Spice joins race for fraud-hit Satyam

The ranking GOP member of the Senate Finance Committee wants Congress to reconsider new funding to the National Science Foundation amid allegations that top staffers spent long stretches of their day surfing the Internet for pornography. Sen. Charles…

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Science foundation’s funding eyed amid porn claims

TOKYO (Reuters) – Hitachi Ltd , Japan’s biggest electronics maker, warned of a record $7.8 billion annual loss, hit by slumping sales, a stronger yen and costs to restructure its sprawling operations.

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Hitachi warns of $7.8 billion loss, to restructure