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Archive for August 22nd, 2008Oil prices plunge after dollar firmsPosted by UK Economy News
In UK financial news
22Aug 08 Oil prices shed more than six dollars a barrel Friday after the dollar firmed and as the world's second-largest pipeline appeared set to reopen.
Read full story Brazil to increase its refining capacity, Petrobras boss saysPosted by UK Economy News
In UK financial news
22Aug 08 Brazil plans to increase its petroleum refining capacity by building five new refineries, the head of the state-owned oil consortium Petrobras said Friday.
Read full story Comments Off Oil falls 5.4 percent in biggest drop since 2004Posted by UK Economy News
In UK financial news
22Aug 08 Crude oil prices fell more than 5.4 percent on Friday in the biggest one-day slide since 2004 as dealers turned their focus to rising supply levels and weakening global demand.
Read full story Comments Off Boeing considers exiting US Air Force tanker rebiddingPosted by UK Economy News
In UK financial news
22Aug 08 US aerospace giant Boeing said Friday it may exit the rebidding for a 35-billion-dollar contract to build US Air Force aerial refueling tankers unless allowed more time to rework its proposal.
Read full story Comments Off Buffett says has no “buy order” on oil sands firmsPosted by UK Economy News
In UK financial news
22Aug 08 Warren Buffett toured Canada's oil sands with his friend Bill Gates this week to understand how the resources are developed, but the billionaire investor said on Friday he had no plan to buy into the sector.
Read full story Comments Off WTO, US trade chiefs in bid to revive Doha RoundPosted by UK Economy News
In UK financial news
22Aug 08 World Trade Organization chief Pascal Lamy and US trade negotiator Susan Schwab held talks in Washington Friday in an effort to breathe life into the moribund Doha Round of negotiations.
Read full story Comments Off Alitalia to ditch troubled unitsPosted by UK Economy News
In UK financial news
22Aug 08 Italy's latest plan to rescue Alitalia includes seeking bankruptcy protection for its troubled units before resuming the hunt for a foreign partner, a political source said ahead of a crucial week for the stricken airline.
Read full story Comments Off Buffett says stocks ‘more attactive’ than last yearPosted by UK Economy News
In UK financial news
22Aug 08 Star investment manager Warren Buffett, the world's richest man, said in an interview Friday that stocks are "more attractive" than a year ago, with a number of good values to be found.
Read full story Comments Off Switzerland announces arrest in widening Alstom graft probePosted by UK Economy News
In UK financial news
22Aug 08 Swiss police arrested a former manager of French engineering giant Alstom and raided offices of the group in Switzerland in a widening corruption and money-laundering probe, prosecutors said Friday.
Read full story Comments Off British economy faces recession after zero growthPosted by UK Economy News
In UK financial news
22Aug 08 Britain faced the threat of a recession on Friday after official figures showed the economy stuttered to a halt in the second quarter with its weakest performance for 16 years.
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