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Archive for January 25th, 2008French government demands answers on rogue trade scandalPosted by UK Economy News
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25Jan 08 The French government demanded a full accounting Friday of how a rogue trader at Societe Generale managed to lose 7.0 billion dollars, as it emerged he gambled on over 73 billion dollars -- more than the bank's current value.
Read full story Ukraine in WTO means growth, influence over Russia: analystsPosted by UK Economy News
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25Jan 08 Ukraine's accession to the World Trade Organisation, confirmed at a meeting in Geneva on Friday, will boost economic growth and foreign investment in this former Soviet republic, analysts said.
Read full story Comments Off Spain’s biggest bank sells headquarters for 1.9 billion eurosPosted by UK Economy News
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25Jan 08 Santander, Spain's biggest bank, said Friday it had agreed to sell its headquarters in Madrid to a consortium led by British real estate firm Propinvest for 1.9 billion euros (2.8 billion US dollars).
Read full story Comments Off Caricom’s anti-monopoly commission suffers funding, legal bottlenecksPosted by UK Economy News
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25Jan 08 The Caribbean Community's newly established anti-monopoly commission for the European-styled Single Market is already facing serious financial and legislative problems, Caricom Secretary General Edwin Carrington said Thursday.
Read full story Comments Off Steel tycoon Mittal says no job cuts in French unit: reportPosted by UK Economy News
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25Jan 08 Lakshmi Mittal, chief executive of steel giant ArcelorMittal, said Friday that there would be no job losses due to its plans to shut down a plant in France, a report said.
Read full story Comments Off EU no longer prepared to toy with children’s safetyPosted by UK Economy News
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25Jan 08 The European Commission on Friday called for carcinogenic and toxic chemicals to be banned from children's toys and for wider use of safety warnings to avoid accidents.
Read full story Comments Off Brazil sugarcane industry eyes EU biofuel marketPosted by UK Economy News
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25Jan 08 Brazil, the world leader in making ethanol from sugarcane, is homing in on Europe's biofuel market following a decision by the European Commission to combat climate change by reducing the dependency on petrol.
Read full story Comments Off Power cuts stop South Africa’s minesPosted by UK Economy News
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25Jan 08 Power cuts stopped production on Friday at South Africa's gold and platinum mines, including many of the world's biggest, sending prices for precious metals soaring and denting the rand.
Read full story Comments Off Russia’s Gazprom strikes new supply deal with LithuaniaPosted by UK Economy News
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25Jan 08 Lithuania's national gas distribution company Lietuvos Dujos has signed a new supply deal with Russian giant Gazprom, a company spokeswoman said Friday, a move that could hit customers' pockets hard.
Read full story Comments Off Gold price soars as SAfrican power crisis halts productionPosted by UK Economy News
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25Jan 08 The price of gold hit a record high Friday as production ground to a halt in South Africa on the back of a spiralling electricity crisis the government has labelled a national emergency.
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