Archive for the News Category
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Euro, world stocks drift down as Greek talks hit bump
NEW YORK - The euro retreated from a three-week high and world stocks fell after six days of gains on Tuesday as the latest setback in efforts to restructure Greek debt triggered fresh worries about a messy default for the country. Related Stories Ap
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Solo Scotland would expect BoE backing – Salmond
LONDON - An independent Scotland would rely on the Bank of England to support its banks if they ran into trouble, the country's separatist leader said on Tuesday, raising questions over the nature of his proposed split with Britain. Related Stories A
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Barry Callebaut strikes supply deal with Unilever
ZURICH - Barry Callebaut will supply Unilever , the world's third-largest consumer goods group, with 70 percent of its global cocoa and chocolate needs in an outsourcing deal, the two groups said in a statement on Monday. Related Stories Analysis - H
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Euro zone finance ministers to rule on glacial Greek debt talks
BRUSSELS/ATHENS - Euro zone finance ministers will decide on Monday what terms of a Greek debt restructuring they are ready to accept as part of a second bailout package for Athens after negotiators for private creditors said they could not improve t
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World stocks lose steam waiting on Greece
NEW YORK - A rally in world stocks and the euro lost steam on Friday as investors awaited a Greek debt restructuring deal aimed at avoiding a disorderly default, while Wall Street ended a stellar week on a mixed note after dismal earnings from Google
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Greece debt swap talks drag into weekend
ATHENS - Greece and its creditors are continuing negotiations on a debt swap on Saturday after late-night talks edged them closer to a vital deal but failed to clinch an agreement. Related Stories Banks battle for business as firms ditch IPOs Former
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Cash bonuses capped at state-backed banks
LONDON - Bonuses in the financial services sector have "got out of control" in recent years, Prime Minister David Cameron said on Thursday, adding cash payments at state-backed banks would again be limited to 2,000 pounds. Related Stories Bank's Hald
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Relief in Spain, tension in Greece for euro zone
MADRID/ATHENS - The embattled euro zone cleared a major funding test on Thursday when Spain romped through a key bond sale, while signs pointed to only a mild recession for the 17-nation bloc. Related Stories Ireland passes bailout review but growth
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S&P downgrades euro zone rescue fund
BRUSSELS - U.S. rating agency Standard & Poor's cut its credit rating of the euro zone's EFSF rescue fund on Monday, and Greece was under pressure to break a deadlock in debt swap talks if it is to avoid an unruly default. Related Stories U.S.
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Rescue fund downgrade raises pressure on euro zone
BRUSSELS - Political resistance is clashing with financial imperatives as the euro zone tries to strengthen its capacity to rescue debt-stricken member states after Europe's temporary bailout fund lost its top-notch credit rating. Related Stories Gol
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