Intel Corp plans to phase out some of its brands, including the "Centrino" for computers, to focus on fewer top names as the chip maker expands into new markets such as mobile devices. Santa Clara-based Intel said on Wednesday it will stop using "Centrino" to refer to personal computers beginning next year. Instead, it will
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President Barack Obama laid out his vision for recrafting U.S. financial regulation on Wednesday, vowing to halt "a cascade of mistakes … over the course of decades" that eroded bank and market oversight. The Obama plan, under development for six months, next goes to the U.S. Congress for debate, where more than a dozen committee
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Asian stocks retreated on Thursday, with some investors booking profits after solid gains in the second quarter sparked by signs the global economy is starting to recover. European shares were set for a higher start, with futures pointing to very slight gains. Asian stocks outside Japan are up nearly 30 percent so far in the
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President Barack Obama will lay out on Wednesday his vision for reshaping U.S. financial regulation, aiming to tighten oversight of the largest firms whose excessive risk-taking triggered a global recession. The proposals will include closing one bank regulator and creating new overseers for big-picture economic risk and consumer financial product safety, according to a document
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U.S. consumer prices edged up in May on higher gasoline prices, but fell over the past 12 months by the most since 1950, in a sign that inflation was no threat for now as the country fights a brutal recession. The Labor Department said on Wednesday its Consumer Price Index edged up 0.1 percent month
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U.S. stocks opened little changed on Wednesday as key data for May tempered concerns about inflation but was offset by a disappointing outlook from bellwether FedEx Corp (FDX.N). The Dow Jones industrial average (.DJI) gained 2.04 points, or 0.02 percent, to 8,506.71. The Standard & Poor's 500 Index (.SPX) dropped 0.76 points, or 0.08 percent,
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Britain will hold out for firm assurances at a European Union summit on Thursday that a drive for pan-EU banking supervision will not further weaken national powers to regulate its huge financial industry, diplomats said. The 27-nation bloc wants to ensure it is better prepared for any repeat of the global financial crisis which was
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Cyprus President Demetris Christofias called on Wednesday for joint action for tourism as state revenues from tourist sector decline. Addressing the General Assembly of the Association of Cyprus Travel Agents, Christofias assured that the government in cooperation with all stakeholders will continue efforts to support tourism and will not hesitate to take swift and well-thought
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European shares slid for the fourth day on Wednesday, echoing falls across most of Asia as some investors unwound trades betting on a speedy economic recovery, while dollar weakness boosted oil towards $71 a barrel. Mining stocks led the losses in Europe but doubts about the heralded global economic recovery are weighing on sentiment worldwide
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European shares fell for the fourth day on Wednesday led lower by banks and commodities, while Iberdrola and Sainsbury both fell after announcing plans to raise fresh capital. By 0855 GMT, the FTSEurofirst 300 index of top European companies was down 0.9 percent at 854.60 points. Optimism about a global economic recovery has helped the
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