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U.S. new home sales fall in August but trend still positive

July's sales pace was revised up 5,000 units to 659,000 units. Analysts said the level of sales generally supported their view of a strong underlying trend in new home sales and of a quickening pace of overall economic growth in the second half of the year. Following the new home sales release, analysts at Macroeconomic Advisers kept their estimate of third-quarter economic growth at 3 percent, a marked pickup from the first half of the year.

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U.S. new home sales fall in August but trend still positive

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Iran downplays chances of oil deal, UAE keen on freeze

By Alex Lawler and Rania El Gamal ALGIERS (Reuters) – Iran downplayed on Monday the chances of OPEC and non-OPEC oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group said they still hoped for steps to tackle a price-eroding glut of crude. Oil prices have more than halved from 2014 levels due to oversupply, prompting OPEC producers and rival Russia to seek a market rebalancing that would boost revenues from oil exports and help their crippled budgets. The …

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Iran downplays chances of oil deal, UAE keen on freeze

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Russia’s Rosneft stake valued at over $11 billion for privatization: source

LONDON/MOSCOW (Reuters) – Russia could fetch over $11 billion in privatizing oil firm Rosneft but needs to guarantee stable tax regime ahead and during the sale, an industry source said citing documents submitted to the Russian government. The documents were submitted this week by Rosneftegas, which owns control in …

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Russia’s Rosneft stake valued at over $11 billion for privatization: source

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Oil heads for biggest weekly loss in eight months despite gains

Russian President Vladimir Putin told Bloomberg an agreement between oil exporters to freeze output would be the right decision to support the market. “Prices are up on a weaker dollar in the aftermath of the U.S. ISM numbers yesterday and Putin's latest attempt to stabilize

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Oil heads for biggest weekly loss in eight months despite gains

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U.S. agency rejects Boeing protest of Northrop bomber contract

A U.S. government agency on Tuesday rejected a protest filed by Boeing Co and Lockheed Martin Corp against a multibillion-dollar bomber contract awarded to Northrop Grumman Corp by the U.S. Air Force in October. The decision by the U.S. Government Accountability Office marked another setback for Boeing, which is facing job cuts in its commercial division and a reported federal investigation into whether it properly accounted for two jetliners, the 747 and 787. Ralph White, GAO's managing associate …

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U.S. agency rejects Boeing protest of Northrop bomber contract

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Oil loses nearly 4 percent as hopes over Saudi, Russia deal fade

Brent oil fell almost 4 percent on Tuesday, erasing early gains after top producers Russia and Saudi Arabia dashed expectations of an outright supply cut by agreeing only to freeze output …

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Oil loses nearly 4 percent as hopes over Saudi, Russia deal fade