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Archive for February 22nd, 2008U.S. stocks rise on credit bailout newsPosted by UK Economy News
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22Feb 08 U.S. stocks rose in a late-stage recovery on Friday as a report of a bailout on No. 2 bond insurer Ambac allowed investors to shake off fears of deeper problems in credit markets and a U.S. recession.
Read full story Oil prices rise on supply jitters after Turkey enters IraqPosted by UK Economy News
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22Feb 08 Oil prices drove higher Friday after Turkey launched a military offensive in northern Iraq, raising concerns about crude-oil supplies, traders said.
Read full story Comments Off EU targets aluminium giant Alcan over possible rule breachPosted by UK Economy News
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22Feb 08 The EU's competition watchdog said Friday that it believes the aluminium giant Alcan has broken European rules by linking its dominant smelting technology to headling equipment sold by a subsidiary.
Read full story Comments Off Jail term ordered after VW sex and bribery trialPosted by UK Economy News
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22Feb 08 A German court sentenced a former senior Volkswagen official to almost three years in jail on Friday, the first person ordered behind bars over a sex and graft scandal that rocked Europe's top carmaker.
Read full story Comments Off EU trade chief heads to China amid tensionsPosted by UK Economy News
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22Feb 08 EU Trade Commissioner Peter Mandelson on Friday kicked off a three-day mission in China amid simmering tensions with the growing Asian economic giant.
Read full story Comments Off NatWest Three get 37 months jail for Enron-related fraudPosted by UK Economy News
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22Feb 08 A US federal judge on Friday sentenced the former British bankers dubbed the Natwest Three to 37 months in jail for fraud related to the scandal-ruined energy trading firm Enron.
Read full story Comments Off Germany threatens to tax all fund transfers to LiechtensteinPosted by UK Economy News
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22Feb 08 The German finance ministry threatened on Friday to tax all financial transfers to Liechtenstein unless the tiny Alpine principality relaxed its banking secrecy codes and helped trace tax evaders.
Read full story Comments Off Northern Rock bank nationalised: British governmentPosted by UK Economy News
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22Feb 08 Britain's ailing mortgage lender Northern Rock, hit by a global credit crunch, is now in public hands, the government said Friday after announcing it had acquired all the bank's shares.
Read full story Comments Off Oil prices fall but remain high on Turkish move into IraqPosted by UK Economy News
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22Feb 08 Oil prices eased on profit-taking Friday, but losses were limited by Turkey's military move into northern Iraq amid persistent concerns about crude supplies, traders said.
Read full story Comments Off ABN announces post-merger investment bank rolesPosted by UK Money News
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22Feb 08 Dutch-based bank ABN AMRO , which is being bought by three rivals led by Royal Bank of Scotland , unveiled some investment banking job changes on Friday that will take place once the deal closes.
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