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Archive for August 29th, 2008Alitalia seeks administration under rescue planPosted by UK Economy News
In UK financial news
29Aug 08 Alitalia said Friday that it has asked to be declared bankrupt and placed under special administration, the first step in a rescue plan that will see the struggling Italian flag carrier relaunched.
Read full story Dollar rises in big August surge, oil prices fallPosted by UK Economy News
In UK financial news
29Aug 08 The dollar rose on Friday as it ended its best month in a over a decade, helping push oil prices lower as damage fears eased despite projections Gustav will barrel into the United States as a dangerous category 3 hurricane.
Read full story Comments Off Oil prices lose steam as Gustav threatens Gulf of MexicoPosted by UK Economy News
In UK financial news
29Aug 08 Oil prices lost steam Friday as traders watched a deadly storm churning toward the Gulf of Mexico, threatening US oil and gas operations.
Read full story Comments Off Solidarity union stages massive protest for wage hikes in PolandPosted by UK Economy News
In UK financial news
29Aug 08 Thousands of workers belonging to Poland's historic Solidarity trade union staged a massive protest in Warsaw Friday, demanding wage hikes and pension privileges for public sector workers.
Read full story Comments Off Oil pressured by strong dollar after storm supportPosted by UK Economy News
In UK financial news
29Aug 08 Oil prices were nearly unchanged by midday Friday as a stronger dollar balanced concerns that Tropical Storm Gustav will impact U.S. offshore oil and gas production.
Read full story Comments Off Chevron shutting some U.S. Gulf output due stormPosted by UK Economy News
In UK financial news
29Aug 08 Chevron said Friday it was shutting some Gulf of Mexico production due to the closure of third-party pipelines on the threat of Tropical Storm Gustav.
Read full story Comments Off Tata cuts Land Rover output as slowdown bitesPosted by UK Economy News
In UK financial news
29Aug 08 British automaker Land Rover, recently taken over by Indian industrial giant Tata, told its employees Friday it will scale back production in light of an economic slowdown and the credit crunch.
Read full story Comments Off Colombian police seize record stash of counterfeit eurosPosted by UK Economy News
In UK financial news
29Aug 08 Colombian authorities have confiscated fake euro banknotes with a face value of 11 million euros, the biggest-ever such seizure outside Europe, policing agency Europol said Friday.
Read full story Comments Off Natixis bank shareholders approve capital increasePosted by UK Economy News
In UK financial news
29Aug 08 Shareholders in French investment bank Natixis on Friday approved a planned 3.7 billion euros (5.44 billion dollars) capital increase to repair the damage caused by the US subprime home loan crisis.
Read full story Comments Off AUA says has no preference for potential tie-up candidatePosted by UK Economy News
In UK financial news
29Aug 08 Austrian Airlines (AUA) Friday dismissed suggestions that it favoured Germany's Lufthansa as its potential buyer, insisting it is "neutral" with regard to its various suitors.
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