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Archive for March 19th, 2008Dollar steadies after Fed rate cutPosted by UK Economy News
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19Mar 08 The dollar held in a narrow range Wednesday a day after a rate cut from the Federal Reserve that was not as deep as feared helped stabilize the greenback.
Read full story Russian police raid BP venture and question managersPosted by UK Economy News
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19Mar 08 Russian police on Wednesday raided offices of oil major BP and its venture TNK-BP and questioned managers, in a move likely to spark concerns about the Kremlin's new asset-grab campaign.
Read full story Comments Off Visa toasts biggest IPO in Wall St. historyPosted by UK Economy News
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19Mar 08 Visa, which operates the world's biggest credit card network, saw its newly minted shares soar in value Wednesday as it notched up the largest share offering in Wall Street history.
Read full story Comments Off Gold sinks 6 pct as hot money exits commods marketPosted by UK Economy News
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19Mar 08 Gold tumbled 6 percent to a three-week low on Wednesday, marking its biggest one-day percentage drop in nearly two years as investment funds switched hot money out of the bullion market in a broad-based commodities retreat.
Read full story Comments Off Oil falls 4.5 pct as dealers eye weak U.S. demandPosted by UK Economy News
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19Mar 08 Crude prices fell 4.5 percent on Wednesday on concerns that a big U.S.-led economic slowdown could further undermine global energy demand.
Read full story Comments Off Dollar under pressure on rate cut, but helped by govt credit movePosted by UK Economy News
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19Mar 08 The dollar weakened against the euro Wednesday but drew some support from a decision by US regulators to make an extra 200 billion dollars available to the troubled US housing market.
Read full story Comments Off Oil falls $6 as dealers eye weak U.S. demandPosted by UK Economy News
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19Mar 08 Crude prices fell more than $6 on Wednesday on concerns that a big U.S.-led economic slowdown could further undermine global energy demand.
Read full story Comments Off Alitalia deal threatened as bidder Air France warns unionsPosted by UK Economy News
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19Mar 08 A bid by Air France-KLM to take over Alitalia was under threat Wednesday as the head of the French-Dutch company warned unions at the loss-making Italian airline there was little or no room for negotiation.
Read full story Comments Off BNP rules out bid for Societe GeneralePosted by UK Economy News
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19Mar 08 French banking giant BNP Paribas said on Wednesday it had dropped any idea of a bid for Societe Generale, another leading French bank rocked earlier this year by the biggest-ever rogue trading scandal.
Read full story Comments Off Shares plunge as Deutsche Telekom sees lower fixed-line profitsPosted by UK Economy News
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19Mar 08 Shares in Deutsche Telekom, Europe's biggest telecoms operator, plunged Wednesday after it said that core earnings on its traditional fixed-line operations could fall five to eight percent this year.
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