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• Earnings calls wake up to Wall Street pain (Reuters)
• UBS CEO quits, board wants faster restructuring (Reuters)
• U.S., China pressure Europe on debt (Reuters)
• Merkel party MP wants permanent euro mechanism sooner (Reuters)
• Europe hastens to build up debt crisis defenses (Reuters)
• Gold slumps record $100; stocks edge up (Reuters)
• Williams raises questions on Fed's latest move (Reuters)
• Europe to decide on EFSF by next G20: China's Zhu (Reuters)
• BofA may sell mortgage unit to Fortress: report (Reuters)
• French woman glad for upcoming face-off with DSK (AP)
• Specialty retail now better placed to handle recession (Reuters)
• BofA settlement pushes up home default notices (AP)
• Pirates free hijacked Spanish oil tanker, crew OK (AP)
• Calif. governor signs compromise on Internet taxes (AP)
• Chrysler, UAW contract talks back on (AP)

Earnings calls wake up to Wall Street pain (Reuters) Posted: 24 Sep 2011 04:14 AM PDT Reuters - Earnings forecasts for U.S. companies are starting to feel the pain on Wall Street and in the broader economy as the odds of another recession rise.

UBS CEO quits, board wants faster restructuring (Reuters) Posted: 24 Sep 2011 07:15 AM PDT Reuters - Oswald Gruebel resigned on Saturday as chief executive of troubled Swiss bank UBS, saying he took the blame for the $2.3 billion loss run up in alleged rogue trading in its investment banking division.

U.S., China pressure Europe on debt (Reuters) Posted: 24 Sep 2011 08:13 AM PDT Reuters - The United States and China piled pressure on Europe on Saturday to get to grips with its debt crisis before it risks causing bank runs and pushing the global economy into ruinous recession.

Merkel party MP wants permanent euro mechanism sooner (Reuters) Posted: 24 Sep 2011 08:49 AM PDT Reuters - A senior lawmaker from German Chancellor Angela Merkel's conservatives said on Saturday the euro zone's permanent rescue mechanism should be introduced sooner than mid-2013 to beef up private creditors' response to the Greek debt crisis.

Europe hastens to build up debt crisis defenses (Reuters) Posted: 23 Sep 2011 07:07 PM PDT Reuters - European policymakers are quickening their preparations to cope with an escalation of the region's debt crisis as talk of a possible Greek default gained pace on Friday.

Gold slumps record $100; stocks edge up (Reuters) Posted: 23 Sep 2011 01:56 PM PDT Reuters - Gold prices slumped more than $100 an ounce on Friday, the biggest fall on record in dollar terms, as traders sold to cover losses, while global stocks edged up on expectations the European Central Bank will take new measures to contain the euro zone debt crisis.

Williams raises questions on Fed's latest move (Reuters) Posted: 23 Sep 2011 03:07 PM PDT Reuters - Just days after the Federal Reserve launched a new round of unconventional monetary policy easing, a top Fed official with a record of supporting such moves on Friday questioned how effective the latest move will be.

Europe to decide on EFSF by next G20: China's Zhu (Reuters) Posted: 23 Sep 2011 06:58 PM PDT Reuters - The European Union will make a clear decision about boosting the capital of the European Financial Stability Fund before the next Group of 20 finance ministers meeting in mid-October, said Chinese Deputy Minister of Finance Zhu Guangyao.

BofA may sell mortgage unit to Fortress: report (Reuters) Posted: 23 Sep 2011 03:30 PM PDT Reuters - Bank of America Corp is in talks to sell its correspondent mortgage lending unit to a division of Fortress Investment Group LLC, the Wall Street Journal reported on Friday.

French woman glad for upcoming face-off with DSK (AP) Posted: 24 Sep 2011 09:29 AM PDT AP - A French writer who accuses former IMF chief Dominique Strauss-Kahn of trying to rape her in 2003 says she fears an upcoming legal face-off with him. But she considers it a victory that the judiciary will let each side give its version of events.

Specialty retail now better placed to handle recession (Reuters) Posted: 23 Sep 2011 07:50 AM PDT Reuters - Specialty retailers are much better equipped for a downturn than three years ago and would see meaningfully less volatility, if fears of another recession turn into reality, UBS said, resuming coverage of the sector.

BofA settlement pushes up home default notices (AP) Posted: 23 Sep 2011 02:23 PM PDT AP - It's no secret that Bank of America wants to put its mortgage-related woes behind it. But it appears that a key $8.5 billion settlement with large investors is playing a role in pushing many more people into foreclosures.

Pirates free hijacked Spanish oil tanker, crew OK (AP) Posted: 24 Sep 2011 02:43 AM PDT AP - A Spanish oil tanker that was hijacked by pirates off West Africa 10 days ago was freed Saturday and the 23-member crew is OK, its owner said.

Calif. governor signs compromise on Internet taxes (AP) Posted: 23 Sep 2011 04:14 PM PDT AP - Gov. Jerry Brown signed legislation Friday that postpones new sales taxes rules that would have affected online purchases in California, granting more time for traditional and online retailers to lobby Congress for a national standard on the high-stakes issue.

Chrysler, UAW contract talks back on (AP) Posted: 24 Sep 2011 09:23 AM PDT AP - Contract talks between Chrysler and the United Auto Workers union have restarted after breaking down earlier this week over financial issues, the union and the company said Saturday.

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