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Emergency declared as 7.1 quake hits New Zealand

WELLINGTON (Reuters) - Authorities declared a state of emergency after a major earthquake hit New Zealand's second biggest city early on Saturday, bringing down power lines, ripping up roads and wrecking building facades, but authorities reported no deaths.

 

Taxpayers likely to face initial loss on GM IPO: sources

NEW YORK/DETROIT (Reuters) - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.

 

Obama to address new economic ideas next Wednesday

WASHINGTON (Reuters) - President Barack Obama said on Friday he would outline new measures next week to boost the U.S. economy, but analysts were skeptical he would be able to deliver a big enough package to lift growth significantly.

 

U.S. and Israel spying behind BlackBerry woe: Dubai police

DUBAI (Reuters) - Concerns over Israeli access to BlackBerry data, and the use of the device by the United States to spy on the United Arab Emirates are behind the Gulf state's moves to curb the smartphone, Dubai's police chief said.

 

Earl downgraded from hurricane to tropical storm

WASHINGTON (Reuters) - Hurricane Earl was downgraded to a tropical storm on Friday, weakening as it swirled up the U.S. eastern seaboard, the U.S. National Hurricane Center said.

 

Bomb kills 54 in Pakistan, Taliban threatens U.S.

QUETTA, Pakistan (Reuters) - A suicide bomber struck a rally in the Pakistani city of Quetta on Friday, killing at least 54 people in the second major attack this week and piling pressure on a U.S.-backed government overwhelmed by a flood crisis.

 

Government says no leaking oil at Mariner platform

HOUSTON (Reuters) - U.S. government inspectors found no leaking oil at Mariner Energy Inc's burned platform in the Gulf of Mexico, officials said late on Friday, allaying fears about more environmental damage after BP's massive spill.

 

Google faces Texas AG inquiry, settles privacy suit

SAN FRANCISCO (Reuters) - Google Inc said on Friday it was the target of an investigation by the Texas Attorney General's office into the fairness of its search engine rankings.

 

Madoff investors win $12.74 mln in Merkin case

NEW YORK (Reuters) - Investors in Gabriel Capital LP, a so-called feeder fund that funneled money to imprisoned swindler Bernard Madoff, were awarded $12.74 million by a panel of three arbitrators, court records show.

 

BP says failed blowout preventer off Gulf well

HOUSTON (Reuters) - BP Plc removed a failed blowout preventer from atop its ruptured Gulf of Mexico oil well on Friday afternoon, a company spokesman said.