Oracle beats outlook, shrugs off fiscal debate

BOSTON/SAN FRANCISCO (Reuters) - Technology giant Oracle Corp said software sales growth will stay strong into the new year despite fears that there could be big tax hikes and U.S. government spending cuts that could cause a slump in spending by customers.Shares of the world's No. 3 software maker rose 1.3 percent after it reported fiscal second-quarter revenue and earnings that surpassed Wall Street...

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BofA CEO: Fed wants bank to show consistent earnings

CHARLOTTE, North Carolina (Reuters) - Bank of America Corp needs to show the U.S. Federal Reserve it can produce consistent earnings as part of the annual process to gain permission to return more capital to shareholders, CEO Brian Moynihan said in an interview.The second-largest U.S. bank is turning a profit in most of its main businesses, but it inherited costly legal problems when it acquired...

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Top UBS shareholder pins rebound hopes on private wealth

LONDON (Reuters) - UBS's wealth management business will help it bounce back from a $1.5 billion rap for rigging interest rates, one of its largest investors said, although fears of costly civil lawsuits could cast a pall over its shares for some time.Paras Anand, European equities head at Fidelity Worldwide Investment, said legal action sparked by the Libor scandal posed an unpredictable threat...

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Poll: Spike in Palestinian support for military operations against Israel

Palestinian support for military operations against Israel has registered its most significant jump in 10 years, spurred by the recent Gaza conflict, ongoing Israeli settlement expansion, and frustration over a peace process that has been essentially deadlocked for more than four years.The percentage of Palestinians supporting such operations has reached 50.9 percent, up from 29.3 percent in January...

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Fatah rally in Gaza looks toward unity with Hamas

GAZA CITY, Gaza Strip (AP) — Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they were routed from power in the territory by the Islamist militants in 2007.The rally, approved by Gaza's Hamas rulers, marks a renewed attempt by the rival Palestinian factions to show unity following a fierce Hamas battle with Israel in November and Fatah's...

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Colombia firm makes armored clothes for kids

BOGOTA, Colombia (AP) — A Colombian firm that makes bulletproof vests is now creating armored clothing for children.Factory owner Miguel Caballero said he never thought about making protective clothes for kids until requests came in following the deadly attack on Sandy Hook Elementary in Connecticut last month."After the tragedy in Connecticut, we started getting emails from customers asking for protected...

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"Nobody helped us for an hour:" Indian rape witness

Passers-by left a gang-raped Indian student lying unclothed and bleeding in the street for almost an hour, a male friend who was assaulted with her said on Friday in his first public comments on the case that provoked a global outcry.The 23-year-old student died in hospital two weeks after she was attacked on December 16 in a private bus in New Delhi, prompting street protests over the Indian authorities'...

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Pakistani girl shot by Taliban leaves British hospital

LONDON (Reuters) - A Pakistani girl shot in the head by the Taliban for advocating girls' education has been discharged from a British hospital after doctors said she was well enough to spend time recovering with her family.Fifteen-year-old Malala Yousufzai, who was shot by the Taliban in October and brought to Britain for treatment, was discharged on Thursday but is due to be re-admitted in late...

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World shares hit highest since July 2011

 World shares hit their highest level since July 2011 on Wednesday after U.S. markets jumped sharply in response to the deal to prevent a fiscal crunch from sending the giant economy back into recession.MSCI's global share index rose to 346.57 points shortly after Wall Street opened, a peak not seen since July 8, 2011 after which a resurgence in the euro zone debt crisis sparked a sharp sell-off...

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'Cliff' deal sends stocks up, but problems lurk

NEW YORK (AP) — The "fiscal cliff" compromise, even with all its chaos, controversy and unresolved questions, was enough to send the stock market shooting higher Wednesday, the first trading day of the new year.All the major U.S. stock indexes swelled more than 2 percent in early trading and were still up significantly in the afternoon. The Dow Jones industrial average briefly surged to its biggest...

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Stocks surge after Congress passes budget deal

Stocks roared higher on Wall Street and around the world after Congress passed a last-minute budget deal to avert sweeping tax hikes and government spending cuts.The Dow Jones industrial jumped 308 points to close at 13,412 Wednesday, the first trading day of the year. That's the biggest gain the Dow has had since December 2011.The Standard & Poor's 500 index rose 36 points to 1,462. The Nasdaq...

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S&P says U.S. fiscal deal will not affect credit outlook

The U.S. budget deal won't change Standard & Poor's perspective on the country's credit outlook, the rating agency said Wednesday, but the risk of another recession in the world's biggest economy has eased.The budget compromise "doesn't affect our view of the country's credit outlook, given that we believe yesterday's agreement does little to place the U.S.'s medium-term public finances on a more...

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Wall Street starts new year with a bang after "cliff" deal

Stocks kicked off the new year with their best day in over a year on Wednesday, sparked by relief over a last-minute deal in Washington to avert the "fiscal cliff" of tax hikes and spending cuts that threatened to derail the economy's growth.In 2013's first trading session, the S&P 500 achieved its biggest one-day gain since December 20, 2011, pushing the benchmark index to its highest close since...

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For Egypt's satirists, Morsi's power is no joke

There are few things dictators hate more than satirists, with their uncomfortable habit of piercing hypocrisy and self-importance with just a few well-placed verbal or written barbs.Under Hosni Mubarak, the Egyptian public's rich horde of satirical memes was an underground phenomenon, the province of cafe talk and SMS messages. That former President Mubarak was commonly called La Vache qui rit ("The...

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Central African Republic rebels halt advance, agree to peace talks

DAMARA, Central African Republic (Reuters) - Rebels in Central African Republic said they had halted their advance on the capital on Wednesday and agreed to start peace talks, averting a clash with regionally backed troops.The Seleka rebels had pushed to within striking distance of Bangui after a three-week onslaught and threatened to oust President Francois Bozize, accusing him of reneging on a previous...

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Malala's father given diplomatic role in UK

The father of a teenage Pakistani activist shot in the head by Taliban for advocating girls' education has been given a diplomatic post in the U.K.Malala Yousufzai has been recovering at a hospital in Birmingham, England, after she was shot in October in Pakistan. The Taliban have vowed to target her again.Pakistan's High Commissioner to Britain, Wajid Shamsul Hasan, confirmed a BBC report Wednesday...

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American journalist missing in Syria

 An American journalist has been missing in Syria since he was kidnapped more than one month ago, his family said Wednesday, less than two years after he was held by government forces in Libya while covering that country's civil war.The family of James Foley, of Rochester, N.H., said he was kidnapped in northwest Syria by unknown gunmen on Thanksgiving day.Foley, 39, has worked in a number of...

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U.N. worried about reports of air strikes in Myanmar

UNITED NATIONS (Reuters) - U.N. Secretary-General Ban Ki-moon voiced concern on Wednesday at reports of air strikes in Myanmar's Kachin State, where a 20-month conflict between government troops and rebels has been escalating."(Ban) has taken serious note of the most recent reports indicating air strikes against targets in Kachin State," U.N. spokesman Martin Nesirky said in a statement."While details...

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Wall Street ends sour week with fifth straight decline

 Stocks fell for a fifth straight day on Friday, dropping 1 percent and marking the S&P 500's longest losing streak in three months as the federal government edged closer to the "fiscal cliff" with no solution in sight.President Barack Obama and top congressional leaders met at the White House to work on a solution for the draconian debt-reduction measures set to take effect beginning next...

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Wall Street Week Ahead: Cliff may be a fear, but debt ceiling much scarier

 Investors fearing a stock market plunge - if the United States tumbles off the "fiscal cliff" next week - may want to relax.But they should be scared if a few weeks later, Washington fails to reach a deal to increase the nation's debt ceiling because that raises the threat of a default, another credit downgrade and a panic in the financial markets.Market strategists say that while falling off...

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Stung Bankia investors look to courts for justice

 Spanish savers and pensioners who have seen their money wiped out by investing in state-rescued lender Bankia are likely to seek redress in court rather than wait for any official inquiry, which looks increasingly unlikely.About 350,000 stockholders will share the pain of the bank's European bailout, many of them bank clients who were sold the shares through an aggressive marketing campaign...

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Indian stocks third best performers globally

Mumbai, Dec 31 (IANS) After a dismal show a year ago, the Indian stock market emerged as the third best performer globally in 2012, with a return of over 25 percent for a key index on the back of $24 billion foreign fund inflows and robust buying by domestic investors.The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ranked third in terms of returns after the yields of the 50-scrip...

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Stocks open mixed as budget deadline nears

 Stocks are little changed in early trading on Wall Street as a budget deadline approaches with no deal in sight.The Dow Jones industrial average was down six points at 12,931 shortly after the opening bell Monday.The Standard & Poor's 500 index was up two points at 1,405 and the Nasdaq composite edged up 10 points to 2,970.There are just hours to go before a midnight deadline, when sweeping...

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