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U.S. Stocks Cut Gains at Midday after Trump Speech

Wall Street stocks gave up some of their early gains around midday Friday after Donald Trump was inaugurated as the 45th president of the United States and Barack Obama left office.

Around 12:50 pm (1750 GMT), the Dow Jones Industrial Average was at 19,780.45, up 0.2 percent, but about 60 points below its session high.

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Trump Wants to Ditch 'Obamacare' but Keep the Gains

Health coverage for all: the promise of President-elect Donald Trump was also the vow of his predecessor Barack Obama, whose signature domestic achievement is now under serious threat of repeal.

Such is the paradox surrounding the first legislative push expected by the new Trump administration.

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May Vows 'Open' Britain as Banks Shift Jobs from London

Prime Minister Theresa May on Thursday told the world's elite that Britain would be open for business despite Brexit, but EU leaders warned of challenges ahead and banks said they would have to shift jobs.

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Russia's Gazprom Returns to Profit in 3rd Quarter

Russia's energy giant Gazprom returned to profit in the third quarter of 2016 thanks to record demand for Russian gas while prices for hydrocarbons were falling, it said Thursday.

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OPEC Oil Output to Come Down in January

Steeper cuts in OPEC oil production are likely this month as producers increasingly implement a recent landmark deal aimed at stabilising oil prices, the IEA said Thursday. 

"Initial indications are that a steeper (month-on-month) decline may be on the way in January," said the International Energy Agency, which analyses energy markets for major oil consuming nations.

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Goldman Sachs to Slash London Presence Due to Brexit

US bank Goldman Sachs will move 1,000 staff from London to Frankfurt as part of a post-Brexit reorganisation that will reduce its City headcount by half, German business daily Handelsblatt reported Thursday.

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Dollar Pushes Higher after Yellen, Asia Traders Wary

The dollar rallied against high-yielding currencies and cemented gains versus its major peers Thursday as dealers took a speech by Federal Reserve boss Janet Yellen as a hint that US rates will rise further this year.

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Erdogan Faces Weak Economy in Path to Greater Power

Turkish President Recep Tayyip Erdogan is closer to getting a power boost after parliament's first approval of a bill to change the constitution, but the flagging economy could present an unexpected roadblock.

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OPEC Output Inches Down after November Deal

OPEC oil production fell in December but remains well above levels envisaged under a recent deal due to take effect from January, the cartel's new monthly report showed Wednesday.

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Buffeted by Change, U.S. Auto Workers Resigned to Uncertainty

Detroit, the once-thriving capital of the U.S. automobile industry, has seen most of its jobs move overseas, leaving the remaining workers at the "Big Three" auto plants wondering about the future.

As the jobs have vanished so has the security and benefits they once offered that helped make the American middle class the engine of the world economy.

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