Also, the PMI report was somewhat offset by news that the German purchasing managers index rose to 54.7 in February from 54.1 in an earlier estimate.

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Both developments put a more positive spin on Germany as a business location than it has enjoyed for a while, and offset somewhat the news that during June the business climate index measured by the Ifo Institute for Economic Research fell by an unexpectedly dramatic 1.4 points.

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Hewlett-Packard this afternoon reported slightly better-than-expected results for its fiscal fourth quarter ended October 31, but the good news was offset by weaker-than-expected guidance for the fiscal first quarter ending in January and for all of FY 2012.

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That positive long-term news is partially offset in the short run by shifts in the production landscape, where the rapid advances and lower costs achieved by some firms have outflanked many others.

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Transportation is also benefiting from the optimistic news that business is able to offset higher fuel costs.

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But that total is roughly offset by hires made at The Daily, News Corp.

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On Friday, Brazilian stocks were mixed as rises in basic materials shares such as those of Petrobras , the national oil company, and miner Vale (nyse: RIO - news - people ) were partly offset by declines in steel companies.

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The news ties in to the overall trend of carriers experimenting with pricing to offset the growing demand for wireless data.

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Housing starts in Canada did come in about 4K less than expected at 189K. While on the surface this may seem like less than positive news, the fact that the previous report was revised upward by 6K easily offset any ill effects of the expectations miss.

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