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EMERGING MARKETS-Brazil stocks up after lawmakers OK budget deficit

SAO PAULO, May 25- Brazilian equities rose on Wednesday after interim President Michel Temer's government cleared its first major test in Congress, gaining permission to post a record budget gap this year. "The honeymoon is over and Temer is taking his first steps in Congress," said Jaime Ferreira, head trader at Intercam brokerage in São Paulo.

Source: Reuters

UPDATE 1-Brazil Congress approves big budget gap in win for interim president

BRASILIA, May 25- Brazil's Congress early on Wednesday approved the government's new fiscal deficit target for 2016, in a victory for the country's new administration rattled by the resignation of a key minister initially charged with drawing up the goal. The new deficit target, nearly double what Rousseff had projected, could open the way for more spending...

Source: Reuters

How to fix the $450B tax gap

How to fix $450B tax gap? Caroline Bruckner, Kogod Tax policy center, provides insight.

Source: CNBC.com

Fear of Trump presidency led start-up vArmour to raise money now

With Donald Trump closing the gap on Hillary Clinton in the polls, start-up vArmour decided now's the time to pad its balance sheet with cash.

Source: CNBC.com

Options Action: Gap set to soar?

Bullish bets on the Cap with CNBC contributor Mike Khouw.

Source: CNBC.com

Trump closing in on Clinton

CNBC's John Harwood and Sara Fagen, CNBC Contributor and Former George H.W. Bush Aide & White House Political Director, discusses a new poll showing the narrowing of the gap between Donald Trump and Hillary Clinton for the presidency.

Source: CNBC.com

Global push by US retailers expands real estate footprint

American retailers already operate in more foreign countries than Asian and European retailers do, but the gap is now widening.

Source: CNBC.com

Oil discoveries sink to lowest since 1952 -Morgan Stanley

LONDON, May 23- Oil discoveries in 2015 fell to their lowest since 1952 as energy companies slashed exploration budgets in the wake of the oil price fall, creating a gap for meeting future demand, analysts at Morgan Stanley said on Monday. The oil and gas industry discovered 2.8 billion barrels of oil outside the United States last year, the equivalent of one month...

Source: Reuters

UPDATE 2-Brazil sees massive fiscal gap, plans austerity measures

BRASILIA, May 20- The Brazilian government expects a record budget shortfall this year as a two-year recession drags down revenues, but policymakers vowed new austerity measures to regain investors' confidence in the once-booming economy. Finance Minister Henrique Meirelles said the target could be reduced if Congress approves austerity measures to be...

Source: Reuters

Applied Materials, Gap and Interoil are among stock gainers

Gap Inc., up 73 cents to $18.01. Applied Materials Inc., up $2.75 to $22.66. Interoil Corp., up $11.92 to $43.57.

Source: The Associated Press