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Archive for April 28th, 2008Euro rangebound against dollar ahead of Fed meetingPosted by UK Economy News
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28Apr 08 The euro was rangebound against the dollar Monday amid cautious trade ahead of the US Federal Reserve's policy setting meeting expected to further lower interest rates.
Read full story Mars, Buffett buying Wrigley for $23 billionPosted by UK Economy News
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28Apr 08 M&M's candy maker Mars Inc has teamed up with billionaire Warren Buffett to buy the No. 1 chewing gum manufacturer Wm Wrigley Jr Co for $23 billion (11.55 billion pounds), creating the world's largest confectionery company.
Read full story Comments Off Whirlpool, Hisense announce joint venture in ChinaPosted by UK Economy News
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28Apr 08 US home appliance maker Whirlpool Corporation and Chinese conglomerate Hisense have formed a joint venture to serve the vast consumer market in China, the companies announced Monday.
Read full story Comments Off Oil hits peak near $120 on Nigeria and Britain woesPosted by UK Economy News
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28Apr 08 Oil hit a fresh peak near $120 a barrel on Monday as supply outages in Nigeria and Britain shut down nearly 2 million barrels per day (bpd) of output in the Atlantic Basin.
Read full story Comments Off Sovereign wealth funds hit 3.5 trillion dlrs in 2007: US firmPosted by UK Economy News
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28Apr 08 Sovereign wealth funds have mushroomed 24 percent annually over the past three years to hold a total of 3.5 trillion dollars in 2007, a US economic firm said Monday.
Read full story Comments Off EU eyes early warning on French financesPosted by UK Economy News
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28Apr 08 France may need an early warning on its public finances, the European Commission warned Monday, predicting that the French deficit was slipping dangerously towards an EU limit.
Read full story Comments Off Buffett’s deep pockets sweeten Wrigley dealPosted by UK Economy News
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28Apr 08 When Mars Inc needed a little extra money to sweeten its $23 billion (11.56 billion pounds) purchase of Wm Wrigley Jr Co , it turned to a friend with deep pockets and a sweet tooth.
Read full story Comments Off UN meets on food crisisPosted by UK Economy News
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28Apr 08 UN Secretary General Ban Ki-moon on Monday held talks with key development agencies on how to tackle the crisis provoked by soaring food and fuel prices.
Read full story Comments Off Nigeria may lose top Africa oil exporter statusPosted by UK Economy News
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28Apr 08 Nigeria, which has been forced to shut in more than half of its oil output following rebel attacks and a workers' strike, could lose its position as Africa's top oil exporter, analysts and trading sources said.
Read full story Comments Off Euro edges up against the dollarPosted by UK Economy News
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28Apr 08 The euro edged higher against the dollar in late trade here Monday, regaining some ground lost earlier on expectations the US Federal Reserve is about to signal an end to its rate-cutting cycle.
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