Browsing All Posts By Kurt Osterberg
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Russia grain export forecasts cut as drought rages
A key lobby group has became the latest body to downgrade Russia’s 2010 crop prospects as the worst drought in 130 years threatened harvests in the major wheat exporter, sending key wheat prices to ... -
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Investor pressure to oust Pru execs waning
The pressure on Prudential chief Tidjane Thiam to quit in the wake of the insurer’s failed bid for Asian rival AIA has eased, with big investors refusing to put their weight behind an attempt to rem... -
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IMF gives ground on yuan exchange rate debate
The International Monetary Fund has chosen not to call the yuan “substantially” undervalued, a move that recognises China’s efforts to free up its exchange rate and avoids friction with an incre... -
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BP replaces CEO; posts $17bn Q2 loss on spill
BP Plc has named American Bob Dudley as its next CEO, saying Tony Hayward would stand down after his gaffe-prone handling of the worst oil spill in US history that triggered a $17bn quarterly loss. Du... -
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Ex-trader accused of fraud seeks to clear name on TV
Ross Mandell, former head of Sky Capital Holdings, was indicted in July 2009 on charges he and five others defrauded investors in a scheme US prosecutors claim pressured people to buy stock from what ... -
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Europe bank test transparency gets cautious thumbs-up
Spain’s smaller regional lenders, or cajas, will start a roadshow aimed at reassuring investors after the test results showed five of their peers among the seven banks that failed, and several more ... -
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UK economy grew twice as fast as expected in Q2
Britain’s economy grew almost twice as fast as expected in the second quarter of this year, buoyed by a sharp pick-up in services output and the fastest rise in construction output in almost 50 year... -
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China visible in eurozone bond buys – EU trade chief
“China’s presence in Europe is visible across the board whether in China’s recent purchase of several hundreds of millions of euros of government bonds in the eurozone, particularly Spain or Gre... -
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Champagne makers signal return to growth
Remy Cointreau, which makes Piper-Heidsieck champagne, said sales of champagne rose 23 percent to 16.7 million euros ($21.3m) in its fiscal first quarter to June 30. Vranken-Pommery said sales rose 52... -
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IMF: Low oil price a risk to Gulf region growth
In an updated report on GCC member states the IMF urged countries to prepare exit strategies from the current high spending levels but not to implement them until economic conditions were right. The I...
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China suspected in massive breach of federal personnel data
