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Archive for April 21st, 2008Dollar weakens on renewed credit fearsPosted by UK Economy News
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21Apr 08 The dollar traded mainly lower Monday as worse-than-expected earnings from Bank of America renewed concerns about the strength of US financial markets, traders said.
Read full story Air France withdraws Alitalia takeover bidPosted by UK Economy News
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21Apr 08 Air France-KLM said Monday it was formally withdrawing its takeover offer for cash-strapped Alitalia after negotiations between the two sides collapsed earlier this month.
Read full story Comments Off Texas Instruments profit upPosted by UK Economy News
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21Apr 08 Texas Instruments posted a higher quarterly profit on Monday, but forecast second quarter results that fell short of Wall Street expectations, citing economic uncertainty in the near term.
Read full story Comments Off Bank of America profits plummet amid credit crunchPosted by UK Economy News
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21Apr 08 Bank of America said Monday its profit plummeted 77 percent in the first quarter of the year to 1.21 billion dollars, highlighting the woes of the US banking sector from economic and credit turmoil.
Read full story Comments Off Oil prices shoot to record peaksPosted by UK Economy News
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21Apr 08 Oil hit fresh record highs Monday amid reports of pipeline sabotage in Nigeria and as the US dollar remained weakened, traders said.
Read full story Comments Off Oil hits record over $117Posted by UK Economy News
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21Apr 08 Crude oil prices hit record highs over $117 a barrel on Monday as rebel attacks cut Nigerian supplies and a Scottish refinery strike threatened North Sea crude production.
Read full story Comments Off Shell to declare ‘force majeure’ at Nigerian terminalPosted by UK Economy News
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21Apr 08 Anglo-Dutch oil firm Shell Monday said it may not be able to honor contracts for April and May after a leading Nigerian militant group attacked two key pipelines of Africa's top petroleum producer.
Read full story Comments Off Oil producers and customers yet to agree price too highPosted by UK Economy News
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21Apr 08 Record oil has added to the strain on a fragile world economy, but producers stopped short of saying prices were too high at talks with their customers on Monday.
Read full story Comments Off North American leaders meet on NAFTAPosted by UK Economy News
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21Apr 08 The leaders of Canada, Mexico and the United States were meeting here Monday for an annual summit with the North American Free Trade Agreement taking center stage, amid criticism of the pact in the US presidential race.
Read full story Comments Off Eurozone budget improvements grinding to a halt, ECB saysPosted by UK Economy News
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21Apr 08 France and Italy will likely stop making progress towards establishing sound finances, the European Central Bank said Monday as it complained that eurozone fiscal consolidation would come to a standstill this year.
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