Oil down more than $1 on financial turmoil

October 2, 2008 on 11:10 pm | In Business News | No Comments

SINGAPORE (Reuters) - Oil fell more than a dollar to below $93 a barrel on Friday, its third consecutive day of losses, on scepticism that a U.S. bailout package would be enough to prevent further oil demand falls.

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Oil down more than $1 on financial turmoil

Financial crisis spreads as U.S. House becomes bailout focus

October 2, 2008 on 5:44 pm | In Business News | No Comments

NEW YORK/WASHINGTON (Reuters) - Shockwaves from the global credit crisis spread on Thursday, rattling industries around the world and raising the stakes for the U.S. Congress to finish up a $700 billion (397 billion pound) bank bailout.

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Financial crisis spreads as U.S. House becomes bailout focus

Economic fear and credit worry slam Wall St

October 2, 2008 on 5:29 pm | In Business News | No Comments

NEW YORK (Reuters) - U.S. stocks slid on Thursday as tight credit markets and bleak economic data forced investors to focus on the rocky road still ahead for the U.S. economy even if Congress passes a $700 billion (397 billion pound) rescue package this week.

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Economic fear and credit worry slam Wall St

Crisis spreads as bailout focus on U.S. House

October 2, 2008 on 3:52 pm | In Business News | No Comments

NEW YORK/WASHINGTON (Reuters) - Shockwaves from the global credit crisis spread on Thursday rattling industries around the world and raising the stakes for the U.S. Congress to finish up a $700 billion (397 billion pound) bank bailout.

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Crisis spreads as bailout focus on U.S. House

EU rescue fund rejected as U.S. bailout advances

October 2, 2008 on 1:19 pm | In Business News | No Comments

PARIS/FRANKFURT (Reuters) - The European Central Bank’s chief and the chairman of euro zone finance ministers sided with Germany on Thursday in rejecting any need for a European rescue fund for banks suffering from the global financial crisis.

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EU rescue fund rejected as U.S. bailout advances

ECB opens door for lower rates as turmoil bites

October 2, 2008 on 1:13 pm | In Business News | No Comments

FRANKFURT (Reuters) - The European Central Bank opened the door for its first rate cut in more than five years on Thursday, saying inflation risks have eased as financial market turbulence hits the euro zone economy.

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ECB opens door for lower rates as turmoil bites

FTSE ends down 1.8 percent on commodities

October 2, 2008 on 1:12 pm | In Business News | No Comments

LONDON (Reuters) - The FTSE 100 ended down 1.8 percent on Thursday after weak U.S. data renewed recession fears, and the fate of a financial bailout package remained uncertain ahead of a key lawmaker vote on Friday.

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FTSE ends down 1.8 percent on commodities

British savers seek refuge in Irish banks

October 2, 2008 on 1:05 pm | In Business News | No Comments

By Paul Hoskins and Kevin Smith LONDON/DUBLIN (Reuters) - Ireland’s banks are suddenly flavour of the month among nervous British savers after the Irish government stepped out of line with its European neighbours and pledged a blanket guarantee on all deposits.

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British savers seek refuge in Irish banks

Thomson Reuters “challenged” but reaffirms outlook

October 2, 2008 on 12:14 pm | In Business News | No Comments

LONDON (Reuters) - News and information publisher Thomson Reuters reaffirmed its 2008 outlook on Thursday, although it said the financial crisis hitting many customer banks would hurt the …

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Thomson Reuters “challenged” but reaffirms outlook

Marks & Spencer to cut costs after sales slump

October 2, 2008 on 11:45 am | In Business News | No Comments

LONDON (Reuters) - Marks & Spencer (M&S) will cut costs and step up promotions after posting its worst quarterly sales fall in 3 years as a trio of retailers reported tougher trading on Thursday.

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Marks & Spencer to cut costs after sales slump

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