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The Fast Money traders take a look at today's biggest market movers.
» Read More.160x105.jpg?v=1362070822 "ISS Settles Charges With SEC")
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*Shrinking factory activity in China limits oil demand growth. SINGAPORE, May 24- Crude futures are set to post their biggest weekly loss in five weeks, with Brent edging down toward $102 per barrel on Friday, as ample supply and a slow global economic recovery fuelled worries that demand for oil would be hit.
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*Gold on track for strongest week in a month. SINGAPORE, May 24- Gold rose on Friday and stayed on track for its strongest week in a month after a U.S. Gold edged up this week as investors sought its safe-haven status after the dollar and equity markets were hit by factory data from China and the United States that showed the pace of manufacturing had slowed.
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*Shrinking factory activity in China limits oil demand growth. SINGAPORE, May 24- Crude futures are set to post their biggest weekly loss in five weeks, with Brent edging down toward $102 per barrel on Friday, as ample supply and a slow global economic recovery fuelled worries that demand for oil would be hit.
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Obama's decision to nominate them roughly one month after SEC Chairwoman Mary Jo White was sworn in signals the administration is anxious to ensure the agency will have a full, five-member commission to complete its busy rulemaking agenda. The SEC is trying to complete rules required by the 2010 Dodd-Frank Wall Street reform law.
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WASHINGTON, May 23- President Barack Obama nominated two U.S. Senate aides on Thursday to serve as members of the Securities and Exchange Commission, the White House said in a statement. Kara Stein, who works for Democratic Senator Jack Reed of Rhode Island, would replace Democrat Elisse Walter.
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SINGAPORE, May 24- London copper futures edged higher on Friday after falling the most in three weeks the session before on signs that growth had stalled in top consumer China. *The most-traded September copper contract on the Shanghai Futures Exchange was little changed at 52,680 yuan a tonne.
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SINGAPORE, May 24- Gold edged lower on Friday as the dollar and equities regained momentum after a volatile trading session the day before, and as holdings in bullion-backed exchange-traded funds fell to fresh four-year lows. *Spot gold fell 0.17 percent to $1,388.36 an ounce by 0030 GMT, not far off two-year lows of $1,321.35 seen in mid-April.
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WEST FARGO, N.D.-- Titan Machinery Inc., an agricultural and construction equipment seller, said Thursday that it expects to post a loss for its fiscal first quarter on weaker revenue. Titan said it expects revenue of $440 million for the quarter, about $50 million less than it had anticipated.
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SAN FRANCISCO, May 23- The clearinghouse for all U.S. stock options said Thursday it will adopt a policy aimed at abolishing a dividend-linked trading strategy that critics say could destabilize markets if left unchecked.
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The 238,000 barrel-per-day Bayway refinery is one of several on the East Coast emerging from years of poor margins as they have depended on higher-priced oil from Europe and Africa due to a lack of access to cheaper domestic crude.
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*1st- qtr adj loss/share $1.29 vs est loss $0.60. May 23- U.S. retailer Sears Holdings cast bigger doubts on the progress of its turnaround after reporting a bigger-than-expected quarterly loss, hurt by cooler spring weather.
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WASHINGTON, May 23- Lois Lerner, an Internal Revenue Service official at the center of the scandal over the agency's extra scrutiny of conservative groups, was put on administrative leave on Thursday after she refused to resign, a U.S. senator said. An IRS spokesman declined to comment on Lerner's status, citing privacy concerns.
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TOKYO, May 24- Japan's Nikkei share average is expected to rebound on Friday after a 7.3- percent dive in the previous session, its biggest one-day percentage drop in two years after weak Chinese factory data rattled investors.
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LONDON, May 24- Police investigating the murder of a soldier hacked to death on a busy London street were looking on Friday into whether the two suspected killers, British men of Nigerian descent, were part of a wider conspiracy.
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LOS ANGELES, May 23- Former News Corp president Peter Chernin and private equity fund Guggenheim Digital Media have placed bids for Hulu, two people with knowledge of the matter told Reuters, triggering a tug-of-war for the online video service. Satellite operator DirecTV and cable operator Time Warner Cable Inc also put in bids, one of the people told Reuters.
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NEW YORK, May 23- In an unusual move before a trial, a federal judge expressed a tentative view that the U.S. Justice Department will be able to show evidence that Apple Inc engaged in a conspiracy with publishers to increase e-book prices.
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*BP, Shell, Statoil in EU oil price probe. NEW YORK/ CHICAGO May 23- A Chicago- based commodities trading firm has filed suit against three of the world's largest oil companies, accusing them of colluding to fix oil prices after European authorities opened an investigation last week.
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LOS ANGELES, May 23- Former News Corp president Peter Chernin and private equity fund Guggenheim Digital Media have placed bids for Hulu, two people with knowledge of the matter told Reuters, triggering a tug-of-war for the online video service. Satellite operator DirecTV also put in a bid, one of the people told Reuters.
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WHITE PLAINS, N.Y.-- Agribusiness and food company Bunge Ltd. said Thursday it is raising its quarterly dividend to 30 cents from 27 cents. The company's next dividend is payable Sept. 3 to shareholders of record on Aug. 20. Bunge also said it will pay a dividend of $1.22 on 4.875% cumulative convertible perpetual preference shares.
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WASHINGTON, May 23- The wealthiest 20,000 U.S. farmers should pay more for taxpayer subsidized crop insurance, the Senate voted on Thursday, adopting a measure that blended deficit reduction, populism and farm program reform. It would expand by 5 percent in the Senate bill even as other farm, conservation and nutrition programs are cut by $24 billion over 10 years.