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Archive for November 9th, 2007Merck reaches 4.85 billion dollar Vioxx settlement dealPosted by UK Economy News
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9Nov 07 Merck said Friday it had reached a 4.85-billion-dollar deal that would allow the US pharmaceutical giant to settle more than 95 percent of lawsuits over its anti-inflammatory Vioxx.
Read full story US trade gap narrows to two-year low despite oil, ChinaPosted by UK Economy News
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9Nov 07 The US trade deficit fell to a two-year low in September as a weak dollar fueled record exports, offsetting the impact of surging oil prices and a widening shortfall with China, data showed Friday.
Read full story Comments Off Vioxx pact vindicates Merck legal strategyPosted by UK Economy News
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9Nov 07 For Merck & Co , the $4.85 billion (2.3 billion pounds) proposed settlement of Vioxx litigation is a big pill to swallow, but the payout could have been a lot higher if not for the company's successful and aggressive legal strategy.
Read full story Comments Off Estee Lauder heir paves way for new boss from P&GPosted by UK Economy News
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9Nov 07 US beauty products group Estee Lauder said Friday it has recruited a Procter & Gamble executive for top positions that put him in line to succeed William Lauder as chief executive.
Read full story Comments Off Brazil, Canada renew WTO complaints on US farm subsidiesPosted by UK Economy News
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9Nov 07 Brazil and Canada have both renewed their complaints against agricultural subsidies by the United States, the World Trade Organisation said on Friday.
Read full story Comments Off Merck agrees to pay $4.85 billion in Vioxx settlementPosted by UK Economy News
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9Nov 07 Merck & Co has agreed to pay $4.85 billion (2.3 billion pounds) to settle claims that its painkiller Vioxx caused heart attacks and strokes in thousands of users, the drugmaker said on Friday.
Read full story Comments Off Lufthansa strikes three-month flyover deal with Russia: GermanyPosted by UK Economy News
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9Nov 07 Lufthansa cargo planes will be allowed to fly over Russia until February 2008 in a temporary solution to a dispute that forced them to avoid the country's airspace, German Transport Minister Wolfgang Tiefensee announced on Friday.
Read full story Comments Off Oil prices rise slightly amid supply, demand concernsPosted by UK Economy News
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9Nov 07 World oil prices rose Friday but were off record high points close to 100 dollars a barrel as the market digested supply concerns and the prospect of lower demand for crude, analysts said.
Read full story Comments Off China threatens to block industrial goods deal at WTOPosted by UK Economy News
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9Nov 07 China has threatened to veto any proposals on cutting customs tariffs on industrial goods at the World Trade Organisation (WTO) if its requests are not met, trade sources said on Friday.
Read full story Comments Off EU sees financial market stress, oil prices weighing on growthPosted by UK Economy News
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9Nov 07 European economic growth will be weaker than previously expected next year, the European Commission warned Friday, blaming distressed financial markets, a relentless rise in oil prices and a weakening US economy.
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