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Archive for December 21st, 2007Anglo American buys most of Australian coal minerPosted by UK Economy News
In UK financial news
21Dec 07 Global mining giant Anglo American said Friday it had bought a 70-percent share in the Foxleigh coal mine in Queensland, northeastern Australia, for 620 million US dollars (432 million euros).
Read full story ECB drains more cash to steady short-term ratesPosted by UK Economy News
In UK financial news
21Dec 07 The European Central Bank said Friday it had withdrawn another 141.56 billion euros (203 billion dollars) from eurozone money markets in a six-day operation, marking three straight days of vigorous action to drain excessive liquidity.
Read full story Comments Off Fed to keep up new auction system ‘as long as necessary’Posted by UK Economy News
In UK financial news
21Dec 07 The Federal Reserve said Friday that it would maintain its new special credit system "as long as necessary" to deal with a liquidity squeeze hurting the banking system.
Read full story Comments Off BHP given deadline in Rio Tinto sagaPosted by UK Economy News
In UK financial news
21Dec 07 BHP Billiton will have to decide by February 6 whether to make a bid for rival Rio Tinto or walk away after the Takeover Panel issued it with a 'put up or shut up' demand.
Read full story Comments Off Sterling slumps to record low against euroPosted by UK Economy News
In UK financial news
21Dec 07 The British pound hit an historic low against the euro on Friday owing to heightened expectations of cuts to British interest rates in 2008.
Read full story Comments Off EU probes suspected air freight cartelPosted by UK Economy News
In UK financial news
21Dec 07 EU antitrust regulators lodged formal cartel charges against several air freight companies on Friday, taking the first step in legal actions that could lead to hefty fines.
Read full story Comments Off Nike wins Sports Direct support for Umbro bidPosted by UK Economy News
In UK financial news
21Dec 07 U.S. sporting goods group Nike has moved closer to clinching its 285-million-pound takeover of England football kit-maker Umbro by striking a deal with the firm's biggest shareholder.
Read full story Comments Off Chrysler said in serious financial crunchPosted by UK Economy News
In UK financial news
21Dec 07 Chrysler faces a serious financial crunch and is trying to sell assets to raise cash, just months after the automaker was bought by private equity firm Cerberus Capital Management, The Wall Street Journal reported on Friday.
Read full story Comments Off EU executive charges airlines over freight cartelPosted by UK Economy News
In UK financial news
21Dec 07 The European Commission charged several airlines with price fixing on freight services, with British Airways, Lufthansa, SAS and Air France KLM saying they were among those affected.
Read full story Comments Off Goldman leads Abbot buyout loanPosted by UK Economy News
In UK financial news
21Dec 07 Specialist energy private equity firm First Reserve said Goldman Sachs is leading a $2.1 billion loan (1.05 billion pounds) backing the 906 million pounds public to private buyout of oil rig builder and operator Abbot Group .
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