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Archive for October, 2008Business group to press ahead with offer for AlitaliaPosted by UK Economy News
In UK financial news
31Oct 08 A group of business leaders set up to take over stricken flag carrier Alitalia will make a final offer for the airline despite union opposition, Italian media reported Friday.
Read full story Falling retail sales underscore recession fearsPosted by UK Economy News
In UK financial news
31Oct 08 Sharp falls in consumer spending in the United States and Germany deepened fears Friday of a global recession as Japan joined a growing list of major central banks cutting key interest rates.
Read full story Comments Off Buyers drop plans to acquire Alitalia: reportsPosted by UK Economy News
In UK financial news
31Oct 08 The Italian Air Company (CAI), the group of business leaders set up to take over stricken flag carrier Alitalia will not proceed with their offer in the face of union opposition, reports said Friday.
Read full story Comments Off Barclays looks to Middle East for cash boostPosted by UK Economy News
In UK financial news
31Oct 08 British bank Barclays said Friday it sought 11.7 billion dollars (9.3 billion euros), mostly from oil-rich investors in Abu Dhabi and Qatar, to bolster its finances amid the global credit crunch.
Read full story Comments Off Ecuador ends contract with Repsol YPFPosted by UK Economy News
In UK financial news
31Oct 08 Ecuador on Friday broke off its oil extraction contract with Spanish-Argentine company Repsol YPF after they failed to agree on a new oil deal, as the Socialist government seeks more control over the energy sector.
Read full story Comments Off French credit drought sparks bank buy-out callsPosted by UK Economy News
In UK financial news
31Oct 08 Business leaders Friday accused French banks of cutting off their credit despite cashing in on a multi-billion-euro bail-out, sparking mounting calls for the state to part-nationalise the sector.
Read full story Comments Off Serbia not to seek IMF loan, only advice: PMPosted by UK Economy News
In UK financial news
31Oct 08 Serbia is negotiating a new two-year arrangement with the International Monetary Fund (IMF) to monitor its economy but will not ask for a loan, Prime Minister Mirko Cvetkovic said Friday.
Read full story Comments Off Spain flirts with recession as property slump, crisis bitePosted by UK Economy News
In UK financial news
31Oct 08 Spain's economy shrank 0.2 percent in the third quarter, the central bank said Friday, leaving the country on the brink of recession, pummelled by a property slump and the global financial crisis.
Read full story Comments Off Strikes planned in Germany’s key metalworking sector: unionPosted by UK Economy News
In UK financial news
31Oct 08 With a recession looming in Europe's biggest economy, Germany's largest industrial trade union IG Metall on Friday announced warning strikes this weekend in the key metalworking and electronics sector.
Read full story Comments Off Gold sinks on strong dollar, recession woesPosted by UK Economy News
In UK financial news
31Oct 08 Gold prices drifted lower on Friday and headed for their biggest monthly drop in more than 20 years as a strong dollar and recession fears triggered a sell-off, traders and analysts said.
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