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Archive for May 20th, 2008Dollar falls against euro as inflation angst spikesPosted by UK Economy News
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20May 08 The dollar lost ground against the euro Tuesday as traders raised the odds that the European Central Bank (ECB) might be forced to raise interest rates amid spiking inflation pressures.
Read full story Britain agrees deal on rights for temporary workersPosted by UK Economy News
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20May 08 Britain announced an agreement on equal rights for agency -- temporary -- workers Tuesday, in a move welcomed in Brussels as boosting the chances of reaching a Europe-wide accord.
Read full story Comments Off US wants to quiz more BAE staff in corruption probe: companyPosted by UK Economy News
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20May 08 The United States is seeking to question more employees of BAE Systems after already quizzing two senior executives in a corruption probe, Britain's largest defence firm said Tuesday.
Read full story Comments Off Oil hits record near $130Posted by UK Economy News
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20May 08 Crude oil prices scaled a new peak near $130 a barrel on Tuesday amid deepening worries over tight global stockpiles and signals from OPEC that no additional supplies are forthcoming to ease the crunch.
Read full story Comments Off Oil hits record as supply fears growPosted by UK Economy News
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20May 08 Crude oil prices scaled a new peak near $130 a barrel on Tuesday amid deepening worries over tight global stockpiles and signals from OPEC that no additional supplies are forthcoming to ease the crunch.
Read full story Comments Off Oil price hits record above 129 dollarsPosted by UK Economy News
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20May 08 Oil soared to a record above 129 dollars a barrel Tuesday as worries about US tensions with Iran heightened speculative fever in a market driven by concerns about tight global supplies and strong demand.
Read full story Comments Off U.S. House passes bill to sue OPEC over oil pricesPosted by UK Economy News
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20May 08 The U.S. House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices, but the White House threatened to veto the measure.
Read full story Comments Off Nigeria seeks arrears from Shell and ExxonPosted by UK Economy News
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20May 08 Nigeria is seeking $1.91 billion (965 million pounds) it says it is owed by Royal Dutch Shell and ExxonMobil under the terms of oil production sharing contracts governing two offshore fields, the presidency said on Tuesday.
Read full story Comments Off Top bankers should be accountable for risks: BuffettPosted by UK Economy News
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20May 08 Warren Buffett, the world's richest man, said Tuesday that few banking chief executives appeared willing to assume responsibility for the risks their institutions take.
Read full story Comments Off Dollar hurt by comments on euro rates from German research headPosted by UK Economy News
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20May 08 The dollar tumbled against the euro Tuesday after higher-than-expected German wholesale inflation figures were compounded by fresh record highs for oil, which will keep pressure on prices, dealers said.
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