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Archive for April 16th, 2008Further US rate cuts seen in wake of inflation, housing newsPosted by UK Economy News
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16Apr 08 Further Federal Reserve interest rate cuts appeared more likely Wednesday after government reports showed a modest rise in inflation and that the housing market remained mired in a deep slump.
Read full story Dollar dives as rate cut odds mountPosted by UK Economy News
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16Apr 08 The US dollar fell to a fresh record low against the euro Wednesday as two government economic reports raised the odds of further interest rate cuts and on news of a record rise in eurozone inflation.
Read full story Comments Off Oil price crosses 115 dollars for first timePosted by UK Economy News
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16Apr 08 The price of New York oil on Wednesday crossed 115 dollars a barrel for the first time after the US government reported falling energy inventories and as the US currency hit an all-time low against the euro, traders said.
Read full story Comments Off Oil hits record on U.S. inventory draw and dollarPosted by UK Economy News
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16Apr 08 Oil hit a record high near $115 a barrel on Wednesday as the dollar crashed to new lows and U.S. crude and gasoline inventories fell sharply as the world's top consumer gears up for the summer driving season.
Read full story Comments Off Italy’s Berlusconi would consider Air France for Alitalia takeoverPosted by UK Economy News
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16Apr 08 Prime minister-elect Silvio Berlusconi said Wednesday he would accept a takeover of Italy's national flagship Alitalia by Air France-KLM after repeatedly advocating a homegrown alternative.
Read full story Comments Off Dollar plunges to new low on eurozone inflation, housing dataPosted by UK Economy News
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16Apr 08 The dollar plunged to an all-time low against the euro here Wednesday on news of a record rise in eurozone inflation, a fresh downturn in the foundering US housing sector and a modest gain in US consumer prices.
Read full story Comments Off EU close to reaching energy deal with Iraq: BarrosoPosted by UK Economy News
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16Apr 08 The European Union and Iraq are close to signing an energy cooperation deal, EU Commission chief Jose Manuel Barroso said Wednesday, as Europe strives to reduce dependence on Russian oil and gas.
Read full story Comments Off Oil price hits record high near 115 dollarsPosted by UK Economy News
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16Apr 08 The price of New York oil on Wednesday struck a historic peak at 114.95 dollars on news that US energy inventories tumbled last week and as the US currency hit an all-time low against the euro, traders said.
Read full story Comments Off Global sales push Coca-Cola profit up 19 pctPosted by UK Economy News
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16Apr 08 Soft-drink giant Coca-Cola Company on Wednesday said first-quarter profits jumped 19 percent on the back of robust international sales.
Read full story Comments Off US consumer prices rose modestly in MarchPosted by UK Economy News
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16Apr 08 US consumer prices rose modestly in March, after remaining flat in the prior month, following a rise in energy costs in recent weeks, a government report showed Wednesday.
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