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Archive for May 22nd, 2008Dollar firm as financial markets steadyPosted by UK Economy News
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22May 08 The dollar traded mainly higher Thursday, recouping some of its losses from a volatile week as oil and stock markets steadied and traders positioned for a report on the US housing sector.
Read full story Think oil prices hurt now? Just waitPosted by UK Economy News
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22May 08 Sky-high oil prices are causing pain at the pump, but bills for air conditioning this summer and heating next winter -- combined with rising food costs -- promise to squeeze U.S. consumers even more.
Read full story Comments Off Ford downshifts fuel-guzzlers, profit outlookPosted by UK Economy News
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22May 08 Ford Motor Company on Thursday said it is cutting production of large trucks and sport utility vehicles as soaring pump prices drive US demand for more fuel-efficient cars.
Read full story Comments Off Oil retreats from new highs above 135 dollarsPosted by UK Economy News
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22May 08 Crude oil raced above 135 dollars a barrel for the first time, then retreated Thursday as the dollar firmed and investors took profit from the record-setting rally.
Read full story Comments Off Record production cannot offset food shortages: FAOPosted by UK Economy News
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22May 08 Despite record production in 2008, food prices are expected to remain high, cutting off access to commodities for the world's poorest people, the UN Food and Agriculture Organisation said Thursday.
Read full story Comments Off Carbon market could be worth 2 trillion euros in 2020: studyPosted by UK Economy News
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22May 08 The global market in CO2 emission rights could be worth two trillion euros (3.14 trillion dollars) by 2020 if the United States joins the scheme, analysis group Point Carbon said on Thursday.
Read full story Comments Off OPEC unhappy with oil price surge: El-BadriPosted by UK Economy News
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22May 08 OPEC chief Abdala El-Badri on Thursday said members were unhappy with surging prices he blamed on speculators and a weak US dollar.
Read full story Comments Off India trade minister rejects new WTO textsPosted by UK Economy News
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22May 08 New draft texts on industrial goods aimed at clinching an elusive deal in global trade talks will have to be "completely revised," India's commerce minister said on Thursday.
Read full story Comments Off French minister mulls Paris meeting to clear air on sovereign fundsPosted by UK Economy News
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22May 08 French Economy Minister Christine Lagarde said Thursday it would be a good idea to hold a meeting of sovereign wealth funds to help clear suspicions about their role and send a signal they were welcome in Europe.
Read full story Comments Off Wave-power Pelamis may go public next yearPosted by UK Economy News
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22May 08 Edinburgh-based Pelamis Wave Power may seek to go public next year as it sees growing opportunities outside Europe, its head said on Thursday.
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