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Bull market losing big ally as buybacks fall most since 2009

Announced repurchases drop 38% to US$244b in last 4 months

New York

CORPORATE America has its eye on a new target as executives look to tighten their belts amid a slump in profits - and this time shareholders will not like it.

After snapping up trillions of dollars of their own stock in a five-year shopping binge that dwarfed every other