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Friday, 14 November 2008 09:28 |
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President-elect Barack Obama and his transition team are focusing on fixing the US economy, leaving reform of the global financial system and the G20 summit this Saturday in Washington to President George W. Bush. |
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Oil price down 60% since July |
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Friday, 14 November 2008 09:20 |
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Oil prices sank under $55 a barrel on Tuesday to strike a 21-month low as fresh recession jitters fanned fears about slowing global energy demand, traders said. On London's InterContinental Exchange (ICE), Brent North Sea crude for delivery in December plunged to $54.92 per barrel - a level last seen on January 30 2007. Brent later stood at $55.94, down $3.14 from Monday. |
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Energy body warns on oil prices |
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Friday, 14 November 2008 09:13 |
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One of the world's leading authorities on energy supply says the era of cheap oil is over and prices could soon be back up to $100 a barrel. |
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EU plans more credit rating rules |
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Friday, 14 November 2008 09:09 |
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Plans to introduce tougher regulation of credit rating agencies (CRAs) are set to be announced by the European Commission. The move comes after CRAs were blamed for playing a major role in causing the continuing global credit crunch. |
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Barack Obama to be America's first black president |
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Wednesday, 05 November 2008 21:24 |
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Americans tonight placed their faith in Barack Obama, who made history by becoming the first African-American to win the US presidency. |
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Brent oil price near $60 a barrel |
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Wednesday, 05 November 2008 21:23 |
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The price of Brent crude fell to its lowest level in more than 20 months amid concerns about the US economy, before later edging back up. |
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Global slowdown hits BMW profits |
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Wednesday, 05 November 2008 21:21 |
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Carmaker BMW has seen profits fall sharply and says it cannot provide a forecast for 2008 and beyond because of the uncertain economic climate. |
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Australia lowers rates to 5.25% |
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Wednesday, 05 November 2008 21:20 |
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Australia's central bank has cut its key interest rate from 6% to 5.25% in an attempt to boost the economy and avert a recession. |
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UBS wary despite return to profit |
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Wednesday, 05 November 2008 21:18 |
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Switzerland's largest bank UBS has reported a profit for the third quarter but has warned of challenges ahead.
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Legal costs hit Mastercard profits |
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Wednesday, 05 November 2008 21:17 |
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Credit card provider Mastercard, has reported a quarterly loss due to a large legal charge. It lost $194m (£122m) in the third quarter, after paying a $515.5m charge related to an anti-trust settlement with rival Discover Financial Services. |
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