Germany's biggest regional bank said Friday it is raising fresh capital, eyeing a government rescue package and mulling merging with another state lender reeling from the financial crisis.
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Germany’s biggest regional bank seeks way out of crisisPosted by UK Economy News
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21Nov 08 Dutch govt launches 6 bln euro stimulus packagePosted by UK Economy News
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21Nov 08 The Dutch government announced on Friday a six billion euro (7.5 billion dollar) economic stimulus package to help the country cope with the global financial crisis.
Read full story Mass job cuts heighten global recession fearsPosted by UK Economy News
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21Nov 08 Fears of more mass job cuts from the global economic crisis grew on Friday as India warned half a million could go in its textile industry and automakers failed to clinch another bailout from Congress.
Read full story Oil prices stay under $50Posted by UK Economy News
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21Nov 08 Oil prices continued to struggle under 50 dollars per barrel on Friday after they hit their lowest levels in almost four years on concerns over weakening demand and the prospect of a global recession.
Read full story Lukoil could become main shareholder in Spanish oil major RepsolPosted by UK Economy News
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21Nov 08 Russian oil group Lukoil could soon become the leading shareholder in Spanish-Argentine energy major Repsol, a possibility that prompted unease in Spain Friday given Repsol's strategic importance.
Read full story ECB chief says IMF role should grow in fight against global crisisPosted by UK Economy News
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21Nov 08 European Central Bank (ECB) president Jean-Claude Trichet called Friday for the International Monetary Fund (IMF) to play a greater role in resolving the global financial and economic crisis.
Read full story Wal-Mart names Mike Duke to replace Scott as CEOPosted by UK Economy News
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21Nov 08 Wal-Mart, the retail sector leader that has weathered the economic crisis better than most of its peers, announced Friday that Mike Duke will take over as chief executive to replace retiring Lee Scott.
Read full story Wal-Mart names Mike Duke new CEOPosted by UK Economy News
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21Nov 08 Wal-Mart Stores, the world's biggest retailer, announced Friday the appointment of Mike Duke, a company vice chairman, as the new chief executive effective February 1.
Read full story Ex-bankers drop HBOS campaignPosted by UK Economy News
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21Nov 08 George Mathewson and Peter Burt, the Scottish former bankers hoping to thwart Lloyds TSB's takeover of HBOS , said they had dropped their campaign to keep HBOS independent, blaming tighter government funding terms for banks.
Read full story Japan’s central bank warns of further risksPosted by UK Economy News
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21Nov 08 Japan's central bank warned Friday Asia's biggest economy may worsen, but it dampened hopes of further interest rate cuts to ease the recession, which has prompted more job cuts at carmakers.
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