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Archive for January 11th, 2008Bank of America to buy Countrywide for $4 billionPosted by UK Economy News
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11Jan 08 Bank of America said on Friday it would buy battered mortgage lender Countrywide Financial for $4 billion (2.04 billion pounds), a move that could avert one of the biggest collapses in the U.S. housing crisis.
Read full story Bank of America to buy struggling CountrywidePosted by UK Economy News
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11Jan 08 Bank of America said Friday it was buying struggling Countrywide Financial in a four-billion-dollar deal that rescues the nation's largest mortgage lender amid a housing crisis.
Read full story Comments Off Dollar steadies as gold sets new recordPosted by UK Economy News
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11Jan 08 The dollar gained slightly in European trade on Friday after tumbling a day earlier and the price of gold raced to a record above 900 dollars an ounce, traders said.
Read full story Comments Off Bank of America to buy CountrywidePosted by UK Economy News
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11Jan 08 Bank of America said on Friday that it would buy battered mortgage lender Countrywide Financial for $4 billion (2.04 billion pounds), a move that could avert one of the biggest collapses from the U.S. housing crisis.
Read full story Comments Off Canada, Hong Kong sign bilateral investment accordPosted by UK Economy News
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11Jan 08 Canada's Trade Minister David Emerson and Frederick Ma, Hong Kong's secretary for commerce, announced Friday the signing of a memorandum of understanding (MOU) to promote bilateral investments.
Read full story Comments Off Canada loses 18,700 jobs in DecemberPosted by UK Economy News
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11Jan 08 Canada's employment fell by 18,700 in December as the labor market weakened following seven consecutive months of increases, Statistics Canada said Friday.
Read full story Comments Off European shares hit 13-month lowPosted by UK Economy News
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11Jan 08 European shares ended down on Friday after briefly touching their lowest level since December 2006, led by weaker food and beverage stocks, as concern the U.S. subprime crisis was far from over darkened investors' mood.
Read full story Comments Off Oil falls towards $93 on U.S. economic worriesPosted by UK Economy News
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11Jan 08 Oil eased towards $93 a barrel on Friday, extending losses for the third consecutive day, on fears that a possible U.S. recession would weaken fuel demand from the world's largest energy consumer.
Read full story Comments Off Bank of America to buy struggling CountrywidePosted by UK Economy News
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11Jan 08 Bank of America said Friday it was buying struggling Countrywide Financial in a four-billion-dollar deal that rescues the nation's largest mortgage lender amid a housing crisis.
Read full story Comments Off US trade gap balloons 9.3 percentPosted by UK Economy News
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11Jan 08 The US trade deficit widened a sharp 9.3 percent in November to a larger-than-expected 63.1 billion dollars, mainly due to surging crude oil costs, the government said Friday.
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