Andy q.

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Dubai banks given extra liquidity

Andy q. posted an article on - Nov 29, 2009, 2:25 pm
  The central bank of the United Arab Emirates (UAE) has said it will provide banks with extra liquidity. The news comes days after the state-owned Dubai World said it would ask for an extension on ...
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Shares hit by Dubai debt problems

Andy q. posted an article on - Nov 26, 2009, 1:58 pm
  European shares have been hit by concerns over Dubai’s financial health, after a government-owned company asked for an extension on repaying its debts. The UK’s FTSE 100 index lost 3.2%, its b...
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GM to keep all German Opel plants open

Andy q. posted an article on - Nov 25, 2009, 3:12 pm
  General Motors (GM) has said that it will not be closing any of Opel’s four plants in Germany as part of its restructuring plans. The US carmaker also said it would be cutting about 9,000 ...
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Saab sale called off by would-be buyer

Andy q. posted an article on - Nov 24, 2009, 3:40 pm
  The sale of General Motors’ (GM’s) Swedish unit Saab has been called off after the would-be buyer pulled out of the deal. Swedish sportscar maker Koenigsegg said it had "come to the painful an...
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US home sales boosted by tax credits

Andy q. posted an article on - Nov 23, 2009, 2:07 pm
  Sales of previously-owned US homes jumped by 10.1% in October as buyers rushed to take advantage of tax credits, which have now been extended. The National Association of Realtors said sales hit a...
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World economies rebound but China set for best growth

Andy q. posted an article on - Nov 19, 2009, 2:08 pm
  The Organisation for Economic Co-operation and Development (OECD) says growth and recovery are expected in 2010 in just about all world regions. For its 30 member countries, rich nations including...
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Possible counter-bid for Cadbury

Andy q. posted an article on - Nov 18, 2009, 3:28 pm
  Confectionery groups Ferrero and Hershey have confirmed they are considering a possible joint takeover bid for the UK’s Cadbury. Italy’s Ferrero said it was in the "preliminary stages" of look...
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Buffett reveals new investments

Andy q. posted an article on - Nov 17, 2009, 4:22 pm
  US billionaire Warren Buffett’s investment firm has revealed new stakes in Nestle and Exxon Mobil. Berkshire Hathaway said it held 3.4 million American depositary receipts - which represents sha...
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GM to start loan repayments early

Andy q. posted an article on - Nov 16, 2009, 3:07 pm
  US carmaker General Motors (GM) has said it will start paying back its government loans earlier than expected. It will make its first payment of $1.2bn (£717m) to the US government in December. G...
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BA and Iberia agree merger deal

Andy q. posted an article on - Nov 12, 2009, 3:16 pm
  British Airways and the Spanish airline Iberia say they have reached a preliminary agreement for a merger. The two airlines have been discussing the deal at separate board meetings throughout the ...
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China production and retail rise

Andy q. posted an article on - Nov 11, 2009, 2:15 pm
The latest economic data from China suggests that industrial production grew year on ...
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Lloyds announces 5,000 job cuts

Andy q. posted an article on - Nov 10, 2009, 3:57 pm
  Lloyds Banking Group is to cut 5,000 more jobs by the end of next year as it continues to reduce overlap following its merger with HBOS last year. Some of these cuts are temporary staff, ...
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Cadbury rejects hostile Kraft bid

Andy q. posted an article on - Nov 9, 2009, 2:35 pm
  UK confectioner Cadbury has rejected a £9.8bn ($16.4bn) hostile bid from US food giant Kraft. Cadbury said it had "emphatically rejected" what it saw as the "derisory" offer, which will now be pu...
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UBS fined £8m by the UK regulator

Andy q. posted an article on - Nov 5, 2009, 2:26 pm
  The Financial Services Authority (FSA) has fined Swiss banking giant UBS £8m for failing to stop its employees making unauthorised transactions. The FSA said four UBS employees had carried out th...
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GM plans to cut 10,000 Opel jobs

Andy q. posted an article on - Nov 4, 2009, 4:27 pm
  General Motors (GM) has confirmed that it plans to cut 10,000 jobs across its European car unit Opel, which includes the Vauxhall brand in the UK. The announcement comes a day after GM said it ...
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Darling hails Lloyds and RBS move

Andy q. posted an article on - Nov 3, 2009, 3:39 pm
  Alistair Darling has welcomed the announcements that Royal Bank of Scotland (RBS) and Lloyds Banking Group are to sell off hundreds of branches. The chancellor said the sales, which had been deman...
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Cost-cutting boosts Ford profits

Andy q. posted an article on - Nov 2, 2009, 2:17 pm
  Ford has announced profits of almost $1bn (£611m) between July and September thanks to increased market share and a successful cost-cutting programme. Pre-tax profit for the quarter came in at $9...
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Obama welcomes US economic growth

Andy q. posted an article on - Oct 29, 2009, 6:27 pm
  President Barack Obama has welcomed the news that the US economy returned to growth between July and September. Official figures showed the economy grew by 3.5% during the quarter, its first expan...
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EU approves Northern Rock split

Andy q. posted an article on - Oct 28, 2009, 6:02 pm
The European Union (EU) has approved plans for nationalised bank Northern Rock to be split in two - paving the way for a partial sale. One business, described as the "good" bank, would hold ...
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US consumer confidence takes hit

Andy q. posted an article on - Oct 27, 2009, 5:18 pm
  US consumer confidence fell sharply and unexpectedly in October as fears about future job prospects increasingly preyed upon Americans. The closely-watched Consumer Confidence Index from the Confe...
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Caterpillar axing 2,500 workers

Andy q. posted an article on - Oct 26, 2009, 4:38 pm
  Caterpillar, the world’s largest construction and mining equipment maker, says it will permanently cut 2,500 jobs in the US. But the news comes even as signs of economic recovery have allowed it...
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Design changes cause Boeing loss

Andy q. posted an article on - Oct 21, 2009, 4:31 pm
  Aircraft maker Boeing has blamed a third-quarter net loss of $1.6bn (£974m) on rising production costs and poor market conditions. The latest results reflect charges incurred to modify Boeing’s...
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VW to buy half of Porsche by 2010

Andy q. posted an article on - Oct 20, 2009, 4:32 pm
Europe’s largest carmaker, Volkswagen, has said it is to buy 49.9% of sports car maker Porsche by the end of 2009 for about 3.9bn euros (
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Oil price hits new high for 2009

Andy q. posted an article on - Oct 19, 2009, 3:08 pm

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Opel's German aid may break rules

Andy q. posted an article on - Oct 16, 2009, 4:04 pm
  The European Commission has warned that Germany’s planned 4.5bn euro ($6.7bn; £4bn) state aid for carmaker Opel may breach EU competition rules. The Commission said there were "significant indi...
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Nokia makes loss after poor sales

Andy q. posted an article on - Oct 15, 2009, 3:49 pm
  Nokia has reported a loss for the July to September quarter after sales sank by almost a fifth. The company made a net loss of 913m euros ($1.4bn; £838m) for the period, compared with a ...
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Cisco buys mobile broadband firm

Andy q. posted an article on - Oct 13, 2009, 2:05 pm
The world’s largest maker of network equipment, Cisco Systems, has agreed to buy mobile broadband equipment-maker Starent Networks for $2.9bn (£1.8bn). The price represents a premium of 21% over ...
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Russia economy 'to shrink 7.5%'

Andy q. posted an article on - Oct 11, 2009, 2:47 pm
  Russia’s economy will shrink by 7.5% in 2009, President Dmitry Medvedev has said - but claimed Kremlin intervention had prevented a worse decline. Russia, which is heavily reliant on oil exports...
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GM agrees Chinese sale of Hummer

Andy q. posted an article on - Oct 9, 2009, 2:39 pm
  General Motors (GM) has agreed to sell its iconic Hummer brand to Chinese firm Sichuan Tengzhong Heavy Industrial Machinery for an undisclosed fee. The two parties had been in talks about the sale...
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HSBC boss says banks owe apology

Andy q. posted an article on - Oct 7, 2009, 1:26 pm
The entire banking industry "owes the real world an apology", the chairman of ...
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Microsoft boss sees weak growth

Andy q. posted an article on - Oct 5, 2009, 4:22 pm
  Software giant Microsoft’s boss Steve Ballmer has said he believes that the world will be in a period of slow growth for "years". "Right now, I feel like we’re not likely to see a recovery," ....
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Stocks fall on weak economic data

Andy q. posted an article on - Oct 1, 2009, 3:20 pm
  US stocks have fallen after weaker-than-expected manufacturing output data increased fears that the economic recovery will be both slow and uneven. The figures came from the Institute for Supply M...
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Weak September data hits markets

Andy q. posted an article on - Sep 30, 2009, 4:54 pm
  US markets have fallen after one of the first economic snapshots of September posted a surprise decline in output. The poor data came from the Institute for Supply Management’s (ISM’s) busines...
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US consumer confidence falls back

Andy q. posted an article on - Sep 29, 2009, 2:01 pm
  US consumer confidence fell unexpectedly in September, suggesting Americans are not as convinced as US policymakers of an economic recovery. The closely-watched Consumer Confidence Index from the ...
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Leaders gathering for G20 summit

Andy q. posted an article on - Sep 24, 2009, 4:36 pm
  World leaders are meeting in the US city of Pittsburgh as the two-day G20 summit gets under way. Economic stability, financial regulation, climate change and bankers’ bonuses are set to top the ...
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UK 'blocking tough finance rules'

Andy q. posted an article on - Sep 23, 2009, 4:06 pm
German Finance Minister Peer Steinbrueck has accused the UK of blocking tougher financial ...
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EU probe 'costs Oracle millions'

Andy q. posted an article on - Sep 22, 2009, 2:43 pm
  Oracle head Larry Ellison says his firm is losing $100m (£61.2m) every month while it waits for the verdict of an EU probe into a planned takeover deal. The business software firm has proposed a ...
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Dell to acquire Perot for $3.9bn

Andy q. posted an article on - Sep 21, 2009, 2:14 pm
Computer giant Dell is buying IT services provider and fellow Texan firm Perot ...
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'Safe' lead levels harm children

Andy q. posted an article on - Sep 18, 2009, 9:03 am
  Young children’s exposure to lead in the environment is harming their intellectual and emotional development, according to UK researchers. The researchers say the toxic effects of lead o...
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EU urges bank bonus 'sanctions'

Andy q. posted an article on - Sep 18, 2009, 5:01 am
European Union leaders meeting on Thursday are to urge sanctions for banks that pay excessive bonuses. Speaking ahead of the meeting, UK Prime Minister Gordon Brown said there was broad backing for b...
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Andy q. is following kevin harwood

EU urges bank bonus 'sanctions'

Andy q. posted an article on - Sep 17, 2009, 3:56 pm
  European Union leaders meeting on Thursday are to urge sanctions for banks that pay excessive bonuses. Speaking ahead of the meeting, UK Prime Minister Gordon Brown said there was broad backing fo...
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Obama shelves Europe missile plan

Andy q. posted an article on - Sep 17, 2009, 3:52 pm
  US President Barack Obama has shelved plans for controversial bases in Poland and the Czech Republic in a major overhaul of missile defence in Europe. The bases are to be scrapped after a revi...
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Facebook grows and makes money

Andy q. posted an article on - Sep 17, 2009, 3:29 pm
The world’s largest social networking site just got bigger with the announcement it has 300 million active monthly users from around the globe. Facebook also revealed that it had started making...
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Doctors warn on climate failure

Andy q. posted an article on - Sep 17, 2009, 9:26 am
Failure to agree a new UN climate deal in December will bring a "global health catastrophe", say 18 of the world’s professional medical organisations. Writing in The Lancet and the British Medi...
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Recession 'may see 25m jobs lost'

Andy q. posted an article on - Sep 17, 2009, 5:23 am
The Organisation for Economic Co-operation and Development (OECD) says the global recession could cost 25 million people their jobs. This is despite recent signs that economies of its 30 member count...
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Google turns page on news content

Andy q. posted an article on - Sep 16, 2009, 3:56 pm
  Google has unveiled a service called Fast Flip to let users consume news more quickly and to boost the flagging fortunes of the news industry. The product is designed to mirror the way readers...
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Recession 'may see 25m jobs lost'

Andy q. posted an article on - Sep 16, 2009, 2:15 pm
  The Organisation for Economic Co-operation and Development (OECD) says the global recession could cost 25 million people their jobs. This is despite recent signs that economies of its 30 member ...
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Euro MPs give Barroso new mandate

Andy q. posted an article on - Sep 16, 2009, 2:12 pm
  The powerful European Commission President, Jose Manuel Barroso, has won a second term of office after a majority of Euro MPs voted for him. Mr Barroso, 53, was the only candidate in the Europ...
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Taking showers 'can make you ill'

Andy q. posted an article on - Sep 16, 2009, 9:54 am
  Showering may be bad for your health, say US scientists, who have shown that dirty shower heads can deliver a face full of harmful bacteria. Tests revealed nearly a third of devices harbour si...
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