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Archive for March 4th, 2008Bernanke urges ‘vigorous response’ to housing crunchPosted by UK Economy News
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4Mar 08 Federal Reserve chairman Ben Bernanke called Tuesday for a "vigorous response" to help stem rising home foreclosures, saying some banks and lenders could do more to help ease the US housing crunch.
Read full story SEC charges firm, hedge fund managers with 60-mln-dlr fraudPosted by UK Economy News
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4Mar 08 The US Securities and Exchange Commission said Tuesday it has filed civil fraud charges against a financial consulting firm and three of its managers for running an investment scheme that resulted in the loss of 60 million dollars.
Read full story Comments Off OPEC set to snub Bush call for extra crude oilPosted by UK Economy News
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4Mar 08 OPEC, which produces 40 percent of the world's oil, Tuesday appeared set to ignore US President George W. Bush's eleventh-hour demand that the cartel increase oil output at its ministerial meeting here.
Read full story Comments Off Transport chaos feared in Germany as strikes worsenPosted by UK Economy News
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4Mar 08 Many parts of Germany were hit Tuesday by public sector strikes, and further chaos was expected as trade unions threatened to disrupt public transport and airline traffic.
Read full story Comments Off Top Fed official warns more bank write-downs ‘likely’Posted by UK Economy News
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4Mar 08 A top Federal Reserve official warned Tuesday that US banks will "likely" have to endure further write-downs from bad loans related to the housing slump and a widespread credit squeeze.
Read full story Comments Off Dollar slides against euro on eurozone inflation fearsPosted by UK Economy News
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4Mar 08 The dollar lost ground against the euro here Tuesday in the face of fresh inflation fears in the eurozone and a call by the US Federal Reserve chief for tough action to prevent more US mortgage foreclosures.
Read full story Comments Off EU finance chiefs put tax havens under scrutinyPosted by UK Economy News
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4Mar 08 EU finance ministers agreed Tuesday to step up scrutiny of tax havens, although Austria and Luxembourg showed resistance to tightening rules on tax dodgers who stash their cash in offshore accounts.
Read full story Comments Off Boeing seeks ‘immediate’ air force reasons for tanker lossPosted by UK Economy News
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4Mar 08 Boeing on Tuesday said it has asked the US Air Force for an "immediate" explanation for its decision to reject the US aerospace giant's bid for a lucrative aerial refueling contract.
Read full story Comments Off U.S. bank regulators eye credit cards, constructionPosted by UK Economy News
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4Mar 08 U.S. regulators said on Tuesday they are watching credit cards and commercial construction loans for signs they may be the next trouble spots as strained financial markets constrain credit.
Read full story Comments Off Bankers’ gathering to offer glimpse of reform planPosted by UK Economy News
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4Mar 08 Four months after pledging an industry-led response to the credit crisis, some of the world's top bankers will meet in Rio de Janeiro next week and offer the world a first glimpse of their plan.
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