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Archive for December 10th, 2007Bank rejects Northern Rock nationalisation reportPosted by UK Economy News
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10Dec 07 The Bank of England rejected a report on Monday that it would prefer to see ailing bank Northern Rock nationalised.
Read full story Oil prices retreat as markets see slower economic growthPosted by UK Economy News
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10Dec 07 World oil prices retreated Monday after a rally failed to push values above 90 dollars per barrel and traders looked ahead to expected slower global economic growth that could weaken demand.
Read full story Comments Off UBS writes down $10 billionPosted by UK Economy News
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10Dec 07 UBS announced a $10 billion (5 billion pound) write-down and a massive injection of funds from Singapore and the Middle East, making it the biggest subprime crisis casualty to date among major European banks.
Read full story Comments Off Universal music streams online in deal with imeemPosted by UK Economy News
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10Dec 07 Universal Music Group said Monday it would start streaming its catalogue of music and videos on fast-growing social-networking website imeem.
Read full story Comments Off Troubled US bond insurer MBIA gets billion-dollar injectionPosted by UK Economy News
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10Dec 07 Troubled US bond insurer MBIA Inc. said Monday it had obtained a one billion-dollar capital injection from Warburg Pincus to help shore up its finances hit by losses on mortgage-related securities.
Read full story Comments Off EU agrees free trade access for 15 poor nationsPosted by UK Economy News
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10Dec 07 EU foreign ministers on Monday adopted rules allowing practically free access to the European market for products from 15 African, Caribbean and Pacific (ACP) nations who have agreed an interim trade deal with the bloc.
Read full story Comments Off Italian truck strike causes chaosPosted by UK Economy News
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10Dec 07 Italian truck drivers launched a five-day strike Monday in protest of high fuel prices, bringing chaos to major cities and huge jams at frontiers with neighbouring countries.
Read full story Comments Off Carlsberg and Heineken clarify they may raise S&N bidPosted by UK Economy News
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10Dec 07 The Carlsberg and Heineken brewing consortium bidding for rival Scottish and Newcastle (S&N) was forced to clarify that it may increase its bid after media reports suggested otherwise.
Read full story Comments Off Blackstone denies rumor of Rio Tinto bidPosted by UK Economy News
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10Dec 07 The large US private equity fund, The Blackstone Group, said Monday it was not planning a takeover bid for Anglo-Australian mining giant Rio Tinto.
Read full story Comments Off US offficials show ‘concern’ over weak dollar: EU’s AlmuniaPosted by UK Economy News
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10Dec 07 US officials are starting to show signs that they are concerned over the weakness of the US dollar, European Union Monetary Affairs Commissioner Joaquin Almunia said Monday.
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