CONTAGIOUS CONCERNS: Exporters were concerned that the Fed's announcement it might raise interest rates would curb demand, while airlines worried about bird-flu
Asian stocks fell this week, with the MSCI Asia-Pacific Index having its biggest drop in 10 weeks.

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Oil prices steadied on Friday after a week-long sell-off as traders bought back short positions on suspicion prices could yet bounce.

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US stocks and the dollar fell on Friday after data showed fourth-quarter US economic growth was weaker than expected, while bond prices rose.

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European stock markets struggled Friday, the last trading day of January, as dealers found little news to whet their appetites amid a mixed performance on Wall Street.

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The dollar took a beating here Friday, punished by weaker-than-expected growth figures in the US that triggered a fresh spurt in the euro.

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SYSTEM OVERHAUL: As the US president gears up for a bruising re-election campaign, he is attempting to address what is seen as a key weakness
US President George W. Bush will leave out of his budget widely anticipated Iraq-related costs and an expensive tax system overhaul to meet his election-year goal of cutting the federal deficit, congressional aides and budget analysts said on Friday.

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China needs energy. Becoming the globalized world's workshop producing everything from athletic shoes to televisions, the country's electricity meters are whirring.

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Monsanto, the world's largest genetically modified seed company, has been awarded patents on the wheat used for making chapati -- the flat bread staple of northern India.

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Google Inc, the No. 1 Web search provider, has accused an "adult search engine" by the name of Booble of infringing on its trademarks and wants it shut down, according to the upstart porn-search site launched this month.

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Gateway Inc said Friday that it would buy privately held eMachines Inc, for US$30 million in cash and US$50 million in Gateway stock, in a deal currently valued at US$266 million.

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A member of the Iraqi Governing Council said Lebanon will return the Iraqi millions in its banks, but he gave no indication Friday of when it will happen.

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■ Copyrights
Starbucks to sue `imitator'
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