Browsing All Posts By Kurt Osterberg
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China’s Sinopec to acquire Daylight for C$2.2bn
Sinopec Group, a unit of China’s state-backed energy company China Petroleum & Chemical Corp, late on Sunday signed a deal to acquire Canada’s oil and gas explorer Daylight Energy for C$2.2bn... -
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Sony secures financial backing from Abu Dhabi fund
Sony Corporation has reportedly secured financing from Abu Dhabi’s investment fund, Mubadala, to help compete for British music label EMI Group. The Middle Eastern investment funds’ backing, and a... -
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IMF says swift action needed to steady Europe’s banks
A quick recapitalisation of European banks is necessary to steady markets and avert the economy from falling into another recession, IMF Europe Director, Antonio Borges, said late on Wednesday. The pr... -
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Europe’s shares higher after Italy downgrade
Stock markets in Europe bounced higher early on Wednesday as traders decided to pick up stocks trading down at discount levels following three days of losses and Italy’s credit downgrade late on Tue... -
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European shares tumble as Greece misses deficit target
Shares in Europe slumped on Monday after the Greek governments’ Finance Ministry announced its draft budget figures showing the country’s deficit is likely to reach 8.5 percent of GDP for 2011. Gr... -
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China in $1.29bn copper mine deal with Anvil
Minmetal Resources, a unit of Chinas largest metal trader, China Minmetals Group, on Friday launched a C$1.3bn ($1.29bn) friendly takeover bid for Congo-focused copper producer Anvil Mining. The move ... -
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European regulators extend short selling ban
Italian, Spanish and French financial market regulators late on Wednesday extended the temporary bans on the short selling of selected financial stocks and banks in a bid to curb market volatility. Th... -
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Stock markets slip as Greece bailout decision looms
European stocks decreased in early trading Wednesday as markets await Troika’s evaluation on Greece’s progress in reducing its debt levels. The ECB, EU and IMF, collectively known as Troika, hold ... -
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Markets open higher on bleak Greek hopes
Stocks across the board rose in early trading Tuesday as markets remained hopeful that discussions between German chancellor Angela Merkel and Greek prime minister George Papandreou will resolve Greec... -
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Markets cautious ahead of Fed meeting
European stocks remain fairly steady while Asian markets traded higher on Wednesday ahead of a Federal Reserve policy meeting. Europe recuperated the ground it lost on Tuesday following an Italian c...
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China suspected in massive breach of federal personnel data
