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Archive for March, 2008Crisis-hit Northern Rock loses 167 million pounds in 2007Posted by UK Economy News
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31Mar 08 Northern Rock, the British bank nationalised in connection with a global credit crisis, said Monday it suffered a 2007 pre-tax loss after turning a profit in 2006 and forecast another shortfall this year.
Read full story Sweden sells Absolut to Pernod for 5.6 billion eurosPosted by UK Economy News
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31Mar 08 The Swedish government said on Monday that it had sold the Vin & Sprit group that owns Absolut vodka to the giant drinks company Pernod Ricard of France for 5.626 billion euros (8.88 billion dollars).
Read full story Comments Off KfW denies it plans to take stake in Airbus plantsPosted by UK Economy News
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31Mar 08 German state development bank KfW on Monday denied a newspaper report that it planned to take a stake in a new company that would bundle together three Airbus German manufacturing plants.
Read full story Comments Off Bet on Europe’s utilities and grocers as inflation risesPosted by UK Economy News
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31Mar 08 There is no way to fully inflation-proof an equity portfolio, but Europe's utilities and food retailers may be the best bet in the current period of soaring commodity prices and an uncertain economic outlook.
Read full story Comments Off Credit crunch to cut global ad spend growthPosted by UK Economy News
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31Mar 08 Spending on advertising in north America and western Europe is expected to grow by 3.8 percent this year, lower than an earlier forecast of 4.4 percent, as the credit crunch saps confidence, a report said.
Read full story Comments Off ECB provides markets with 15 billion euros in one-day operationPosted by UK Economy News
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31Mar 08 The European Central Bank (ECB) carried out a so-called fine-tuning operation worth 15 billion euros (23.7 billion dollars) on Monday to provide short-term cash to euro money markets.
Read full story Comments Off Pernod wins Absolut vodkaPosted by UK Economy News
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31Mar 08 France's Pernod Ricard won a hard-fought auction on Monday to buy the maker of Sweden's Absolut vodka in a 5.63 billion euro (4.47 billion pounds) deal, but its shares fell on concerns over the price.
Read full story Comments Off Aviva appoints new European headPosted by UK Economy News
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31Mar 08 Aviva , the country's largest insurer, said on Monday it had hired Andrea Moneta to head its European operations.
Read full story Comments Off US prepares to give Fed sweeping new oversight powersPosted by UK Economy News
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31Mar 08 US Treasury Secretary Henry Paulson on Monday was to unveil a plan to beef up the Federal Reserve, in the latest US bid to calm economic turmoil stirred up by the "subprime" lending crisis.
Read full story Comments Off Malaysian Air orders 55 Boeing planesPosted by UK Economy News
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31Mar 08 State-controlled Malaysian Airline System Bhd has ordered up to 55 new Boeing 737-800 aircraft for $4.2 billion (2.1 billion pounds), the airline said on Monday.
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