Saturday 19 July 2008
Zimbabwe creates 100-billion-dollar note
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- ZIMBABWE - INFLATION
- Zimbabwe creates 100-billion-dollar note
- Saturday 19 July 2008
- Crisis-ridden Zimbabwe has introduced a new 100-billion-dollar bank note in an effort to cope with its record 2.2 million percent inflation and rampant cash shortages. It will go into circulation on Monday.
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- BANKING - WALL STREET
- Markets cheer Citigroup's smaller than expected losses
- Friday 18 July 2008
- After JPMorgan Chase on Thursday, Citigroup reassured investors as they posted second term results refuting analysts' predictions. The news boosted JP Morgan Chase's shares on Friday.
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- INTERNATIONAL TRADE
- Final chance for WTO negotiations
- Friday 18 July 2008
- Trade ministers from around 30 countries will meet in Geneva from July 21 in a bid to end deadlocked WTO negotiations aimed at lowering global trade barriers. Cuts in tariffs and agricultural subsidies are the main sensitive issues on the table.
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- SWEDEN - TELECOM
- Sony Ericsson to cut 2,000 jobs worldwide
- Friday 18 July 2008
- Mobile phone maker Sony Ericsson announced plans to cut 2,000 jobs worldwide after it reported a quarterly loss of two million euros due to difficult market conditions in its traditional European outlets.
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- EUROPEAN UNION - AID
- EU to spare €1bn euros for farmers in poor countries
- Friday 18 July 2008
- The European Commission will use 1 billion euros mostly taken from the result of underspending in the bloc's agriculture budget to help African countries that were worst hit by the food crisis.
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- EU - INTEL
- EU accuses Intel of unfair competition
- Friday 18 July 2008
- The European Commission has once again accused US chip giant Intel of unfair competition and of misusing its dominant position against competitor AMD. Intel calls the accusations unfounded.
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- AVIATION - AUSTRALIA
- Qantas to cut 1,500 jobs
- Friday 18 July 2008
- Seeking to combat rising fuel prices and challenging market conditions, Australian carrier Qantas Airways announced it would cut 4 percent of its workforce in its latest belt-tightening measure.
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- COMMODITIES
- Markets roar as oil plunges under 130 dollars
- Thursday 17 July 2008
- Crude oil slipped further on Thursday as deepening economic troubles in the United States had many investors figuring that US consumers would soon be buying less gasoline. US and European shares also advanced on easing credit worries.
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- Friday 18 July 2008
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