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U.S. Business News Headlines
NEW YORK (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.
NEW YORK/DETROIT (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.
WASHINGTON (Reuters) - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring was a positive surprise, relieving concerns about a stalling economic recovery.
TORONTO/HONG KONG (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.
WASHINGTON (Reuters) - President Barack Obama said on Friday he would outline new measures next week to boost the U.S. economy, but analysts were skeptical he would be able to deliver a big enough package to lift growth significantly.
NEW YORK (Reuters) - A federal judge on Friday dismissed part of a criminal case accusing a former Goldman Sachs Group Inc computer programer of stealing proprietary computer code from the bank's lucrative high-frequency trading platform.
NEW YORK (Reuters) - Investors in Gabriel Capital LP, a so-called feeder fund that funneled money to imprisoned swindler Bernard Madoff, were awarded $12.74 million by a panel of three arbitrators, court records show.
RIO DE JANEIRO (Reuters) - Brazilian state oil company Petrobras on Friday filed to sell up to $64.5 billion of new stock -- the largest in capital markets history -- sending its stock sharply higher after months of uncertainty that dragged on its share price.
DETROIT/SEOUL (Reuters) - Kia Motors said on Friday it had started a recall of some 56,000 Soul and Sorento vehicles sold in the United States and South Korea due to defective wiring harnesses that could cause fires.
HOUSTON (Reuters) - BP Plc removed a failed blowout preventer from atop its ruptured Gulf of Mexico oil well on Friday afternoon, a company spokesman said.
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