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Economy - Economics USA

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Christian Science Monitor

The moped and its bigger, flashier cousin, the scooter, are swarming out of Jimmy Carter's America and into George W. Bush's republic - a movement propelled by soaring gasoline prices surpassing those of the late 1970s and by legions of Ameri

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Reuters (thanks Jean C.)

The euro's bid to become an alternative world reserve currency received another vote of confidence this week as more central banks diversify away from dollars, boosting the region's government bonds. The euro hit a seven-month high above $

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Reuters

"The US, by itself, cannot and should not be expected to resolve the problem, but we, like other major participants in the global economy have an important role to play," Treasury Sec. John Snow said. "However, the US does not have a s

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Reuters

Oil rose to a new peak of $75 a barrel on Friday as investment funds snapped up crude futures and tension mounted over Iran's nuclear intentions.

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Reuters

The Dow Jones industrial average and S&P 500 index turned negative on Friday as crude oil prices rose above $75 a barrel, increasing worries about higher energy costs for companies and consumers.

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Financial Times (thanks Jean C.)

The International Monetary Fund stepped up the pressure for far-reaching shifts in exchange rates, declaring that the dollar will have to depreciate “significantly” over the medium term if global economic imbalances are to be resolved in an orderly f

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Reuters

Oil hit a record $72.64 a barrel on Tuesday as Iran defied world pressure to halt its nuclear program, raising new fears of a cut in supplies from the world's fourth-biggest crude exporter.

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Reuters

Gold put on more than $7 an ounce on Thursday as investors bet the rally driving prices to their highest in a quarter century was gaining momentum. Record-high oil prices stoking fears that inflation will bite into the dollar's buying clout ha

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Reuters

European Brent crude oil held firm near its $74-a-barrel record high on Thursday after a steep drawdown in U.S. gasoline stocks fueled fears of tight summer supplies at a time of growing anxiety over Iran's exports.

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Associated Press

The dollar fell sharply against the euro and yen in Asia on a media report suggesting that China might reduce its purchases of U.S. Treasury holdings, and amid speculation that U.S. interest rates may have peaked.

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Worldpress.org - Niusha Boghrati

What some analysts posit is the real concern for the United States is Iran's plan to open its own oil exchange — the Iranian Oil Bourse (IOB) — with the alleged goal of becoming the dominant center of the Middle East's oil trade.

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Reuters

A pair of weaker-than-expected readings on the housing and manufacturing sectors in April sparked concerns about near-term economic strength. Tensions over Iran's nuclear ambitions struck energy markets, causing oil prices to finish above $70 a

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BusinessWeek

Nucor Chief Executive Daniel R. DiMicco sees a train wreck coming. True, Charlotte (N.C.)-based Nucor Corp., America's top steelmaker, had a banner year in 2005. But China now churns out more steel than the U.S., Japan, and Europe combined. Despi

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Agence France Presse

The European single currency firmed to 1.2155 dollars from 1.2144 dollars late on Tuesday in New York. The dollar dipped to 118.19 yen, from 118.21 on Tuesday." The narrowing trade deficit is not expected to give much sustained support for the d

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Associated Press

Gasoline prices are surging again with summer on the horizon, pushing or even passing $3 a gallon in some places. Meanwhile, drivers aren't expected to ease off on their mileage, sending demand higher than last year — but they are grumbling.

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Associated Press

Stocks tumbled Tuesday as strength in the commodities market fed inflation fears and stifled investors' enthusiasm over upbeat first-quarter earnings from Dow Jones industrial Alcoa Inc. "(Commodities prices rising) would certainly seep thro

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Associated Press

Existing home sales are expected to fall 6% in 2006. Demand for new homes is expected to fall 10.9%. Prices for new and existing homes are also expected to slow from their previous rate of growth, while still maintaining steady rates of increase over

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