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Archive for December 19th, 2007Barclays sues Bear StearnsPosted by UK Economy News
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19Dec 07 Barclays Bank on Wednesday accused Bear Stearns of using hedge funds as a place to unload excessively risky assets, causing them to collapse last summer.
Read full story U.S. stocks see-saw and credit worries lift bondsPosted by UK Economy News
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19Dec 07 U.S. stocks see-sawed near unchanged on Wednesday, as energy shares rose on higher crude oil prices and financial company shares were dented by continuing credit concerns, which pushed investors to seek safe-haven Treasury bonds.
Read full story Comments Off Microsoft, Google, Yahoo pay fines for Internet gamblingPosted by UK Economy News
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19Dec 07 Microsoft, Yahoo and Google agreed to pay a total of 31.5 million dollars to settle a government probe into their role in promoting online gambling dating back to 1997, officials said Wednesday.
Read full story Comments Off Morgan Stanley hit ahead of c.bank resultsPosted by UK Economy News
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19Dec 07 Results of coordinated central bank action to prime money markets will go some way on Wednesday to gauge the depth of the global credit crisis, while heavy losses at a top U.S. bank suggested it has some way to run.
Read full story Comments Off Bradford & Bingley not eyeing N.RockPosted by UK Economy News
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19Dec 07 The country's biggest buy-to-let lender Bradford & Bingley (B&B) has denied a report it is considering a bid for part of Northern Rock, as the government said all options for the troubled bank remained open.
Read full story Comments Off Oil prices rally as US inventories dipPosted by UK Economy News
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19Dec 07 Oil prices rose Wednesday as the US government reported a much larger than expected drop in crude oil inventories.
Read full story Comments Off Renault to roll out 12 new models in global assaultPosted by UK Economy News
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19Dec 07 French carmaker Renault is to unveil 12 new models next year -- including several low-cost autos -- in an aggressive global strategy to turn around stagnating sales, the company said Wednesday.
Read full story Comments Off ECB wipes up surplus cash to keep money markets tidyPosted by UK Economy News
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19Dec 07 After flooding eurozone money markets with cheap cash, the ECB mopped up surplus funds Wednesday, a well-worn practice aimed at reassuring subprime-shy banks while taking care not to fuel inflation.
Read full story Comments Off EADS names German, French, British companies to take over plantsPosted by UK Economy News
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19Dec 07 The European aerospace group EADS on Wednesday named three companies, MT Aerospace of Germany, Latecoere of France and Britain's GKN, to take over six plants it is to divest under a restructuring plan at its Airbus unit.
Read full story Comments Off EU agrees watered-down wine sector reformPosted by UK Economy News
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19Dec 07 EU members agreed on Wednesday to shake up Europe's struggling wine industry to compete better with cheaper New World rivals, but only after watering down the controversial plans.
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