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Archive for May 13th, 2008Eurozone looks to stamp out ’scandalous’ golden handshakesPosted by UK Economy News
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13May 08 Eurozone finance ministers are considering ways of discouraging "scandalous" excesses in executive pay, including by closing loopholes for golden hand-shakes, Eurogroup chairman Jean-Claude Juncker said Tuesday.
Read full story Mortgage scams on rise, net millions for fraudsters in US: FBIPosted by UK Economy News
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13May 08 Fraudsters netted hundreds of millions of dollars through mortgage scams last year, and the trend was likely to continue as the US housing market slumps even further, the FBI said Tuesday.
Read full story Comments Off Wal-Mart posts record profit on discount pricesPosted by UK Economy News
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13May 08 Wal-Mart Stores, the world's biggest retailer, reported Tuesday record quarterly earnings and sales but sounded a cautious note on the weak US economy.
Read full story Comments Off HP to buy EDS for 13.9 bln dlrs, to expand servicesPosted by UK Economy News
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13May 08 Hewlett-Packard Co. on Tuesday revealed a 13.9-billion-dollar deal to buy Electronic Data Systems in a tie-up that creates a global powerhouse in computer services to compete against IBM.
Read full story Comments Off Oil price strikes record 126.98 dollarsPosted by UK Economy News
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13May 08 The price of crude oil struck a record high of 126.98 dollars a barrel Tuesday in New York despite new predictions of slower demand growth for energy, traders said.
Read full story Comments Off Oil hits record near $127 as Iran mulls output cutPosted by UK Economy News
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13May 08 Oil surged to a record peak near $127 on Tuesday after OPEC producer Iran said it was studying a plan to cut output despite signs record-high prices are hurting consumer nations.
Read full story Comments Off HP to buy EDS in challenge to IBMPosted by UK Economy News
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13May 08 Hewlett-Packard plans to buy technology outsourcing company Electronic Data Systems to better compete against IBM , but Wall Street questioned whether the $12.6 billion (6.5 billion pound) deal for a slow-growing company was overpriced.
Read full story Comments Off Pensions fall short on life expectancy -MercerPosted by UK Money News
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13May 08 Some of Britain's top companies have increased pension scheme life expectancy assumptions, adding billion of pounds to their liabilities, but remain way off regulatory guidelines, pension consultancy Mercer said.
Read full story Comments Off France’s Total hints at Qatari stakeholdingPosted by UK Economy News
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13May 08 French oil major Total is open to the prospect of the Qatar Investment Authority (QIA) taking a stake in the company, the Gulf Times on Tuesday quoted Total chief Christophe de Margerie as saying.
Read full story Comments Off BAA says Heathrow chief to leavePosted by UK Economy News
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13May 08 Airports operator BAA said on Tuesday Heathrow Chief Executive Mark Bullock was to step down from his post, making him the latest victim of the disastrous opening of the new Terminal 5 building.
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