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Oil Prices Down as Rebels Capture Most of Tripoli

Brent crude fell to near $105 a barrel Monday as Libyan rebels captured most of the country's capital, boosting hopes the OPEC nation's oil exports could resume soon.

In London, Brent crude for October delivery was down $3.22 per barrel to $105.40 on the ICE Futures exchange.

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World Stock Markets Mixed Amid U.S. Recession Fears

World stocks swung between gains and losses Monday, as hopes the Federal Reserve might take action to keep the U.S. from slipping back into recession offset fears of a global slowdown.

Brent crude fell to near $106 a barrel as Libyan rebels captured most of Tripoli, boosting hopes the OPEC nation's oil exports could resume soon. The dollar was stronger against the yen but weaker against the euro.

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Experts Say Greek Bailout Could Stumble on Collateral Debate

A debate over which eurozone countries can demand collateral from Greece in exchange for loan guarantees threatens to derail the quick approval of Athens' second bailout program, experts warn.

"Finland has said right from the beginning that it would not back any loans without collateral, and if this arrangement is no longer acceptable to other nations, then it takes us back to square one," Teija Tiilikainen, head of the Finnish Institute of International Affairs, told Agence France Presse.

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U.S. Credit Crisis Shocks Chinese Consumers

Spurred on by state media which have let rip at the "debt-riddled" United States, the Chinese have listened with wide-eyed amazement to tales of American people living well beyond their means.

The U.S. credit crisis has brought to light a fundamental difference between thrifty consumers in China -- the largest foreign holder of U.S. debt -- and their credit-loving U.S. counterparts.

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East European Borrowers Suffer as Swiss Franc Rises

A soaring Swiss franc is a threat to Eastern European economies as households struggle to repay the now much costlier loans they took out in the currency in better times, analysts warn.

Eastern Europeans rushed to take out loans in Swiss francs and other foreign currencies in 2004-2005 as interest rates were much lower than what they would have had to pay on domestic borrowings -- now that has all changed.

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Obama Pushes for Action on Jobs

President Barack Obama says members of Congress should put country before politics, set aside their differences and act together to put people back to work.

The president is vacationing on Martha's Vineyard in Massachusetts, but he recorded his weekly Saturday radio and Internet address earlier in the week while in Illinois during an economy-focused Midwestern bus tour.

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Stocks Fall as Traders Worry Over Weekend

A growing belief that the U.S. economy may be headed toward recession gave the stock market its fourth straight week of losses.

The anxiety in the market was obvious Friday as the major indexes went from moderate gains early in the day to another sharp loss. The Dow Jones industrial average had its 10th move of more than 100 points in 15 trading days this month.

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Japan Ready to Act Over Yen's Historic Rise

Japan is ready to take action against a further surge in the yen, including market intervention, after the safe-haven Japanese currency hit a post-war record high, local media reported on Saturday.

The government and the Bank of Japan have started discussions over fresh intervention to sell yen and buy dollars on the foreign exchange market, the Nikkei business daily reported.

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Oil Prices Slide Further

Oil prices fell sharply for a second day running on Friday, mirroring the situation across world stock markets, as fears of a new global recession risks reducing demand for energy, traders said.

New York's main contract, West Texas Intermediate light sweet crude for delivery in September, dived $2.40 to $79.98 a barrel.

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World Stocks Sink on Fresh Fears of U.S. Recession

World stock markets plummeted Friday amid signs of a possible U.S. recession and renewed worries over the health of Europe's banks.

Oil prices fell to near $79 a barrel in Asia, extending a major sell-off fueled by investor fears that slowing global growth will undermine demand for crude. The dollar was higher against the euro but down against the yen.

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