Browsing Category News
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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 ta... -
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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 th... -
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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... -
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BP and Anadarko found liable for US oil spill damages
A Chicago court found on Wednesday that BP and its minority partner Anadarko Petroleum will be liable under federal pollution laws for civil damages and their roles in the Macondo ... -
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Walmex quarter profits up 26 percent
Mexico’s largest retailer, Wal-Mart de Mexico or Walmex, late on Monday announced a 26 percent rise in fourth quarter profits to MXN$8.23bn compared to MEX$6.54bn during the fina... -
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Vista commences takeover battle with Tenemos over Misys
US buyout firm Vista Equity Partners announced late on Monday that it has made an approach to buy British banking software company Misys. Although no price was mentioned analysts v... -
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Crude at nine month high after Iran halts supply
Oil prices on Monday climbed to a nine month high, close to $105 a barrel on the New York Mercantile Exchange, after Iran’s oil ministry said late on Sunday that it had halted cr... -
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Rio bosses axe bonus on aluminium loss
Anglo-Australian miner Rio Tinto said on Thursday that its top executives will not take a bonus this year following an $8.8bn hit on its aluminium business Alcan. The mining giant ... -
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UBS joins Deutsche in 76 percent net profit loss
Switzerland’s biggest lender by assets, UBS AG, announced on Tuesday a 76 percent fall year-on-year in net profits for the fourth quarter of 2011 in the wake of its $2bn rogue tr... -
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Chinese bars its airlines from paying EU carbon tax
The Chinese government on Monday announced it has prohibited state-owned airlines from paying EU-imposed charges on carbon emissions. The move by the Civil Aviation Administration ...
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