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Archive for March 3rd, 2008OPEC chiefs rule out need to raise oil outputPosted by UK Economy News
In UK financial news
3Mar 08 OPEC ministers gathering here for an output policy meeting insisted Monday that the cartel was not about to increase oil production, as the price of crude struck a record high of almost 104 dollars.
Read full story Ukraine warns of ‘gas war’ as Russia cuts suppliesPosted by UK Economy News
In UK financial news
3Mar 08 Russia on Monday slashed gas supplies to neighbouring Ukraine in a debt dispute, prompting Ukrainian President Viktor Yushchenko to warn of a possible new "gas war" with Moscow.
Read full story Comments Off Rolls-Royce to power Virgin DreamlinersPosted by UK Economy News
In UK financial news
3Mar 08 Virgin Atlantic Airways said on Monday it would buy engines from Rolls-Royce Group worth $2.6 billion (1.3 billion pounds) to power the fleet of Boeing Co 787 Dreamliners it ordered last year.
Read full story Comments Off Rolls-Royce to power Virgin DreamlinersPosted by UK Economy News
In UK financial news
3Mar 08 Virgin Atlantic Airways said on Monday it would buy engines from Rolls-Royce Group worth $2.6 billion (1.3 billion pounds) to power the fleet of Boeing 787 Dreamliners it ordered last year.
Read full story Comments Off GM, Ford U.S. sales fall double digitsPosted by UK Economy News
In UK financial news
3Mar 08 U.S. automakers General Motors Corp and Ford Motor Co on Monday reported double-digit U.S. sales declines in February and cut second-quarter production plans in the face of a slumping economy and high gas prices.
Read full story Comments Off Germany expects EU support in tax fraud clampdown: finance ministerPosted by UK Economy News
In UK financial news
3Mar 08 German Finance Minister Peer Steinbrueck said Monday he expected the support of EU colleagues in cracking down on tax fraud amid an escalating standoff with Liechtenstein.
Read full story Comments Off Porsche revs up long-mooted bid for VWPosted by UK Economy News
In UK financial news
3Mar 08 German luxury sports car maker Porsche indicated Monday it was preparing to take a majority stake in its much larger German rival Volkswagen, the biggest car maker in Europe.
Read full story Comments Off US, Canadian-British firms dominate financial news marketPosted by UK Economy News
In UK financial news
3Mar 08 Financial information services, the subject of WTO trade complaints against China by the US and European Union, are dominated by US firm Bloomberg and Canadian-British Thomson-Reuters in the process of merging.
Read full story Comments Off Ford cuts 2,500 jobs at three US plantsPosted by UK Economy News
In UK financial news
3Mar 08 Ford Motor Co. will cut 2,500 jobs at three US plants as it expands a massive restructuring plan, the automaker said Monday.
Read full story Comments Off MasterCard challenges EU antitrust rulingPosted by UK Economy News
In UK financial news
3Mar 08 MasterCard said on Monday it was lodging a court challenge against a December decision by EU antitrust regulators targetting the payments card giant.
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