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Archive for July 3rd, 2008Euro weakens on prospects for eurozone rate stabilityPosted by UK Economy News
In UK financial news
3Jul 08 The euro weakened against the dollar Thursday, despite a hike in eurozone interest rates, as dealers focused on comments from the head of the European Central Bank suggesting further rate rises were not imminent.
Read full story Los Angeles Times to axe 250 jobs: newspaperPosted by UK Economy News
In UK financial news
3Jul 08 The Los Angeles Times is to axe 250 jobs across the company as part of a cost-cutting drive to bring expenditure into line with falling revenues, the newspaper reported Thursday.
Read full story Comments Off ECB hikes rates to highest level in nearly 7 yearsPosted by UK Economy News
In UK financial news
3Jul 08 The European Central Bank raised interest rates to their highest level in nearly seven years on Thursday, but dimmed the prospect of further moves, as euro zone growth looks set to falter despite soaring inflation.
Read full story Comments Off Former Refco CEO sentenced to 16 yearsPosted by UK Economy News
In UK financial news
3Jul 08 Phillip Bennett, the former chief executive of Refco, was sentenced to 16 years in prison on Thursday for a nearly decade-long fraud that ultimately pulled the commodities brokerage into bankruptcy.
Read full story Comments Off Continental to stand trial for 2000 Concorde crashPosted by UK Economy News
In UK financial news
3Jul 08 US airline Continental and two of its employees are to stand trial for manslaughter over the crash of an Air France Concorde airliner in 2000 that killed 113 people, officials said Thursday.
Read full story Comments Off India, Iran to seal gas pipeline deal ‘by next month’: oil ministerPosted by UK Economy News
In UK financial news
3Jul 08 India expects to sign a deal "by next month" on a pipeline that will transport gas across the subcontinent from Iran, Indian oil minister Murli Deora told AFP on Thursday.
Read full story Comments Off ECB raises eurozone lending rate to 4.25% amid record inflationPosted by UK Economy News
In UK financial news
3Jul 08 The European Central bank raised eurozone lending rates Thursday to fight record inflation but ECB chief Jean-Claude Trichet signalled the bank had not embarked on a series of hikes.
Read full story Comments Off Game Group falls on fear demand has peakedPosted by UK Economy News
In UK financial news
3Jul 08 Computer games retailer Game Group smashed first-half profit forecasts, boosted by new releases like Grand Theft Auto IV and Wii Fit, but its shares slumped on concern that demand has peaked.
Read full story Comments Off EU trade unions criticise ECB rate hikePosted by UK Economy News
In UK financial news
3Jul 08 Trade unions in the European Union harshly criticised the European Central Bank on Thursday for increasing interest rates, saying the hike would harm economic growth without curbing inflation.
Read full story Comments Off Vodafone says to buy majority share in Ghana TelecomPosted by UK Economy News
In UK financial news
3Jul 08 British mobile phone giant Vodafone said on Thursday it had agreed to buy a 70-percent stake in Ghana Telecommunications for 452 million pounds (566 million euros, 900 million dollars).
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