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Archive for October 7th, 2008Euro revives on central bank liquidity planPosted by UK Economy News
In UK financial news
7Oct 08 The euro rebounded against the dollar Tuesday, a day after plumbing 13-month lows, as central banks unveiled a series of measures to reassure nervous markets.
Read full story BAE unit in U.S. settlement over body armourPosted by UK Economy News
In UK financial news
7Oct 08 The Armour Holdings Products unit of BAE Systems has agreed to pay $30 million (17.1 million pounds) to resolve charges that it knowingly made and sold defective bullet-proof vests used by U.S. police and emergency workers, the Justice Department said on Tuesday.
Read full story Comments Off US judge says cannot rewrite BP refinery plea dealPosted by UK Economy News
In UK financial news
7Oct 08 A U.S. judge on Tuesday said she lacks legal authority to rewrite BP's proposed $50 million (28.6 million pound) plea agreement with the U.S. government to resolve criminal liability for a deadly 2005 Texas refinery explosion despite victims' assertions that it is too lenient.
Read full story Comments Off Markets in fresh turmoil, economic fears intensifyPosted by UK Economy News
In UK financial news
7Oct 08 US and European authorities launched fresh initiatives Tuesday to break the grip of a global credit crunch, but the moves failed to boost market confidence as Wall Street and other stock markets sank to new lows.
Read full story Comments Off Bernanke says Fed must review stand on ratesPosted by UK Economy News
In UK financial news
7Oct 08 The Federal Reserve must consider whether its current interest rate policy "remains appropriate" in view of exceptional market turmoil, chairman Ben Bernanke said Tuesday amid swirling speculation about a need for rate cuts.
Read full story Comments Off Oil rebounds on hints of OPEC output cut, interest rate cutsPosted by UK Economy News
In UK financial news
7Oct 08 Oil prices rebounded on Tuesday as the market speculated about an OPEC output cut and a concerted interest rate cut by central banks to face a global financial crisis.
Read full story Comments Off US takes on corporate debt as Europe reels with new rescuesPosted by UK Economy News
In UK financial news
7Oct 08 The US opened up a major new front Tuesday in the global financial crisis, backstopping huge amounts of corporate debt as European governments staged new rescues, but the moves did little to boost market confidence.
Read full story Comments Off New Dexia chiefs vow swift measures for troubled groupPosted by UK Economy News
In UK financial news
7Oct 08 The new bosses at Dexia, which has been badly mauled by the global financial crisis, on Tuesday promised to announce within days fresh measures to assure the future of the Franco-Belgian banking group.
Read full story Comments Off Euro up sharply on central bank liquidity planPosted by UK Economy News
In UK financial news
7Oct 08 The euro rebounded sharply against the dollar on Tuesday, one day after plumbing fresh 13-month lows, as central banks unveiled a series of measures to reassure nervous markets.
Read full story Comments Off Dubai property developers upbeat despite overheating warningsPosted by UK Economy News
In UK financial news
7Oct 08 Property developers in Dubai remain upbeat about the growth of the sector, which has seen prices rocket in recent years, despite warnings of overheating and the global financial turmoil.
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