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Oil drilling rig

Running out of steam: Energy sector is underperformer among all 10 sectors in S&P 500

Energy sector was the prime culprit among other stocks including materials and biotech, that pulled S&P 500 and Dow Jones lower recently. S&P 500 fell 2.2% and Dow eased 2.9% during the week ended 24 July. S&P 500 suffered biggest weekly decline since March.

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Pump jack

Oil drops on concerns of glut in refined products

Oil dropped on Monday as signs of a growing glut in refined products outweighed a fall in Saudi crude exports and slower U.S. rig activity.

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FBI Director James Comey and Deputy Attorney General Sally Quillian Yates

Inside Darkode: a malware called Dendroid designed to steal data from Android phones

The Federal Bureau of Investigation has taken down an alleged major hacker's forum on the Internet. This was announced by the agency through the webpage of the US Department of Justice's Office of Public Affairs.

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European Union flag

EU steps up pressure for rapid deal to revive asset-backed debt

European Union reform of the securitized debt market to help to revive the region's economy is likely to be binding on member countries to speed up change, a senior official from the bloc's executive body said on Tuesday.

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Avi Katz

$1 coffee chain taps into Israeli anger over high cost of living

With a $1 cup of coffee, Avi Katz is starting to do something Israelis have been demanding for years and politicians have failed to achieve -- lower the cost of living.

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Oil Tanker

U.S. light oil exports double in May, mostly to Europe

U.S. exports of ultra-light crude, also known as condensate, have doubled since the start of the year, with most shipments headed to Europe, according to traders familiar with the deals and data from an energy consultant.

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Asian Infrastructure Investment Bank

China-backed multilateral bank to take concrete shape this week

One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank (AIIB) in Beijing.

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U.S. President Barack Obama

Congress victory moves Obama's Pacific trade pact forward

U.S. lawmakers approved legislation key to securing a hallmark Pacific trade deal by a comfortable margin on Wednesday, advancing President Barack Obama's efforts to strengthen U.S. economic ties with Asia.

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U.S.-China relations

U.S., China appear to get little done in removing economic barriers

The United States and China urged each other on Wednesday to remove barriers to foreign investment, saying that business ties were vital to overall relations, although they appeared to achieve little beyond rhetoric at a high profile three-day meeting that was overshadowed by security rivalries.

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Beijing

World financial fears keep Asia firms in holding pattern - Reuters/INSEAD survey

Sentiment at some of Asia's biggest firms has deteriorated as a slowing Chinese economy, Greek sovereign debt crisis and looming U.S. interest rate hike create deepening concern about the state of the world economy, a Thomson Reuters/INSEAD survey showed.

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Wal-Mart Stores Inc

Wal-Mart to impose charges on suppliers as its costs mount

Wal-Mart Stores will begin charging fees to almost all vendors for stocking their items in new stores and for warehousing inventory, raising pressure on suppliers as the world’s largest retailer battles higher costs from wage hikes.

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China

Chinese firms pour money into U.S. R&D in shift to innovation

Surging investment by Chinese companies in U.S. research labs is yielding a fast-growing trove of patents, part of a push to mine America for ideas to help China shift from being the world's factory floor to a driver of innovation.

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Greek and EU flags

Greek drama nears final act, ending uncertain

Euro zone leaders will attend an emergency summit on Monday, hoping to thrash out a plan with Athens to provide Greece with additional funds to prevent it defaulting on its debt -- but only if both sides play ball.

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Carl Icahn

Billionaire investor Icahn says 'no' to Trump's Treasury offer

Billionaire investor Carl Icahn said thanks but no thanks when real estate mogul turned Republican presidential candidate Donald Trump floated his name for U.S. Treasury secretary.

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Dollar and Yuan Notes

U.S. to press China on currency, eye on AIIB: official

U.S. officials will press their Chinese counterparts on currency policy at high-level talks next week, and have not taken off the table the possibility that the United States may one day join a China-led infrastructure bank, a senior U.S. Treasury official said.

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