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Archive for January 28th, 2008McDonald’s serves up higher profitPosted by UK Economy News
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28Jan 08 Global fast-food giant McDonald's Corp. on Monday announced that its fourth-quarter profit rose by a more-than-expected 1.27 billion dollars.
Read full story U.S. stocks up but dollar down on Fed expectationsPosted by UK Economy News
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28Jan 08 Wall Street stocks rose and the dollar fell against most major currencies on Monday amid expectations that the Federal Reserve will cut interest rates again this week in an effort to head off a U.S. recession.
Read full story Comments Off Toyota unseats GM as top producer in 2007, tally showsPosted by UK Economy News
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28Jan 08 Japan's Toyota Motor Corp. said Monday that it had produced almost 9.498 million vehicles in 2007, leapfrogging US rival General Motors to become the world number one in terms of production.
Read full story Comments Off French rogue trader charged in Societe Generale scandal: lawyerPosted by UK Economy News
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28Jan 08 Societe Generale trader Jerome Kerviel was charged Monday over the biggest fraud case in investment banking history, his lawyer said as the French bank was hit by insider trading allegations and a plunging share price.
Read full story Comments Off Chicago CME exchange, NYMEX in merger talksPosted by UK Economy News
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28Jan 08 CME Group, Inc. and NYMEX Holdings, Inc. said Monday they were conducting initial merger talks which could result in the Chicago-based exchange taking over the New York commodities bourse.
Read full story Comments Off French rogue trader admits to concealing deals: prosecutorPosted by UK Economy News
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28Jan 08 French trader Jerome Kerviel admitted to concealing multi-billion-dollar deals at Societe Generale, a prosecutor said Monday, as the bank was hit by insider trading allegations and a plunging share price.
Read full story Comments Off US new-home sales fall sharplyPosted by UK Economy News
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28Jan 08 Sales of newly built homes across the United States fell 4.7 percent in December to the lowest level in almost 13 years as a national housing slump showed no signs of easing.
Read full story Comments Off Grown-ups help to keep toymaker Hornby on trackPosted by UK Economy News
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28Jan 08 Demand from adult collectors nostalgic for a childhood playing with model trains and Scalextric racing cars helped toymaker Hornby cope with a tough Christmas for retailers, it said on Monday.
Read full story Comments Off US new home sales fall 4.7 pctPosted by UK Economy News
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28Jan 08 Sales of new homes across the United States fell 4.7 percent in December from the prior month as a persistent housing slump showed no signs of abating, a government survey showed Monday.
Read full story Comments Off SocGen fraud details leave traders astonishedPosted by UK Economy News
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28Jan 08 Incredulous derivative and equity traders still wanted answers on Monday after Societe Generale explained how a rogue trader built up a $73 billion (35 billion pound) position and caused the French bank to lose $7 billion.
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