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Archive for March 12th, 2008Investors file US suit against French bank SocGenPosted by UK Economy News
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12Mar 08 A class-action suit filed Wedneday against Societe Generale alleges the French bank misled investors about its exposure to risky US mortgage securities and failed to clamp down on a rogue trader who ran up massive losses.
Read full story Dollar at fresh low on euro as Fed impact fadesPosted by UK Economy News
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12Mar 08 The dollar sank to new lows against the euro Wednesday as the impact of central bank action to bolster ailing credit markets faded, leaving players focused on an expected US interest rate cut next week.
Read full story Comments Off French police detain SocGen employee, search officesPosted by UK Economy News
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12Mar 08 French police on Wednesday detained a second Societe Generale employee for questioning over the multi-billion dollar rogue trader scandal at the French banking giant.
Read full story Comments Off Oil rallies to record $110 as dollar plumbs new lowPosted by UK Economy News
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12Mar 08 Oil pierced $110 a barrel on Wednesday, marking the sixth straight day of record highs, as the dollar sank to new lows and outweighed large increases in U.S. crude inventories.
Read full story Comments Off Oil prices burst record 110 dollarsPosted by UK Economy News
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12Mar 08 Rocketing oil prices broke through 110 dollars per barrel for the first time in New York on Wednesday continuing a record run amid supply concerns and fevered market speculation.
Read full story Comments Off Emerging country trade unions voice concerns in Doha talksPosted by UK Economy News
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12Mar 08 Leading trade unions in South Africa, the Philippines and Brazil voiced fears here Wednesday that their industries could come out badly in the current Doha round of trade liberalisation talks.
Read full story Comments Off IMF’s Lipsky warns of ‘unthinkable’ in global credit crisisPosted by UK Economy News
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12Mar 08 The International Monetary Fund on Wednesday warned authorities worldwide to "think the unthinkable" in planning to cope with a mounting crisis in the global financial system.
Read full story Comments Off Dollar hits new low against euro as impact of Fed action fadesPosted by UK Economy News
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12Mar 08 The dollar plunged to new lows against the euro Wednesday as the impact of central bank action to bolster ailing credit markets faded, leaving players focused on an expected cut in US interest rates next week.
Read full story Comments Off Transport strike hits business in BerlinPosted by UK Economy News
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12Mar 08 Business and tourism leaders in Berlin expressed fears Wednesday that shops could close and hotels run empty as a crippling public transport strike hit day eight with no end in sight.
Read full story Comments Off Hulu turns on Internet television service in United StatesPosted by UK Economy News
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12Mar 08 News Corporation and NBC Universal on Wednesday began offering free online television to the US public through Internet joint venture Hulu.com.
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