Kurt Osterberg

Browsing All Posts By Kurt Osterberg

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China drops double-digit growth for first time since 2005

Global shares in commodities such as copper and natural gas took a hit in early trading on Tuesday as investors tried to digest the repercussions of China’s announcement that it is to scale back its...
On March 6, 2012 / By Kurt Osterberg
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Glencore says $37bn deal “fair”

Glencore, the globe’s largest commodity trader, said on Monday that the $37bn offer for Xstrata is a fair deal, and is a “logical” next step for the two companies. There was no indication that i...
On March 5, 2012 / By Kurt Osterberg
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New Google privacy policy ‘illegal’ says EU Justice Commissioner

Viviane Reding, the EU’s Justice Commissioner, has announced that Google’s new privacy policy, effective as of midnight on March 1, represented “a breach of EU law”. In the face of entreaties ...
On March 5, 2012 / By Kurt Osterberg
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Peugeot debt rating cut could hamper GM deal

Shares in Peugeot fell around 7.7 percent following a debt rating cut by Moody’s late on Thursday. The move saw the French car manufacturer’s rating drop to “junk” status, which may hinder a p...
On March 2, 2012 / By Kurt Osterberg
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US Air Force cancels Embraer aircraft deal

The US Airforce late on Tuesday unexpectedly cancelled a $355m light aircraft contract granted to Sierra Nevada and Brazil’s aircraft manufacturer Embraer. The deal was scraped following objections ...
On March 1, 2012 / By Kurt Osterberg
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WPP pre-tax profits up 18.5% to £1.008bn; “a record on whatever measure you care to name”

WPP, the world’s largest advertising and PR network, today reported an annual profit of £1.008 bn, representing not only an unprecedented 18.5 percent rise on 2010’s results, but the first time t...
On March 1, 2012 / By Kurt Osterberg
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Sluggish Indian GDP slows to three-year low

India’s economic growth in the three months to December was at its weakest in over three years due to a slowdown in agriculture, mining and manufacturing, the Federation of Indian Chambers of Commer...
On February 29, 2012 / By Kurt Osterberg
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Greece in selective default in spite of German bailout approval

Credit ratings agency Standard & Poor’s late on Monday declared Greece in “selective default” following its private sector involvement deal which will see bondholders take a 70 percent hair...
On February 28, 2012 / By Kurt Osterberg
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Essar posts 10 percent loss as FTSE 100 down

Indian refiner and power generator Essar Energy on Monday said core earnings had fallen by 10 percent in 2011 due to weaker refining margins and the depreciation of the Rupee in the latter part of the...
On February 27, 2012 / By Kurt Osterberg
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Spain unemployment leads to Telefonica profit fall

Spain’s largest phone company, Telefonica, announced on Friday that its full year operating profit had decreased to €20.2bn from €25.8bn year-on-year. Net profits were down to €5.4bn from �...
On February 24, 2012 / By Kurt Osterberg