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Archive for December 12th, 2007Fed, counterparts coordinate to ease market stressPosted by UK Economy News
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12Dec 07 The U.S. Federal Reserve on Wednesday launched a new temporary short-term lending facility to ease credit market strains in concert with market-calming actions by several other major central banks.
Read full story Italian truckers strike winds downPosted by UK Economy News
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12Dec 07 A crippling truckers' strike in Italy appeared to be rapidly winding down late Wednesday, as three of seven picketing unions called for suspending the movement after talks with the government.
Read full story Comments Off Oil prices leap on US supply concerns, banks’ interventionPosted by UK Economy News
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12Dec 07 Oil prices rocketed more than four dollars higher Wednesday as traders reacted to news of falling US energy reserves and central banks' coordinated measures to ease tight credit conditions.
Read full story Comments Off Italian truckers strike winds downPosted by UK Economy News
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12Dec 07 A crippling truckers' strike in Italy appeared to be rapidly winding down late Wednesday, as three of seven picketing unions called for suspending the movement after talks with the government.
Read full story Comments Off Fed, other central banks in joint effort to ease credit squeezePosted by UK Economy News
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12Dec 07 The Federal Reserve and four other central banks announced a joint initiative Wednesday to ease a global credit squeeze by pumping money into the global banking system with a new system of loan auctions.
Read full story Comments Off World Bank to host Berlin fund-raiser for poorest countriesPosted by UK Economy News
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12Dec 07 The World Bank body that aids the poorest countries is gathering donors in Berlin Thursday, hoping to raise record funds as a result of a growing field of donors, possibly including China.
Read full story Comments Off Italy desperately seeks end to truckers strikePosted by UK Economy News
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12Dec 07 The Italian government desperately sought new talks with truckers on the third day of strikes that have dried up petrol supplies and saw 2,000 trucks block the French border on Wednesday.
Read full story Comments Off Central bankers take high-stakes economic gamblePosted by UK Economy News
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12Dec 07 Central banks have gambled big on whether they can solve the credit crisis by clubbing together to revive bank lending.
Read full story Comments Off German state ready to help troubled SachsenLB, spokesman saysPosted by UK Economy News
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12Dec 07 Germany's eastern state of Saxony is prepared to provide a financial guarantee for subprime hit regional bank SachsenLB, the regional finance ministry said Wednesday, as problems piled up at the troubled lender.
Read full story Comments Off Canada’s Dodge says year-end nerves spur “experiment”Posted by UK Economy News
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12Dec 07 Heightened anxiety in global financial markets ahead of the holidays spurred central bankers to "experiment" with a new short-term lending facility, Bank of Canada Governor David Dodge told Reuters in an interview on Wednesday.
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