U.S. mobile phone companies have begun to see substantial returns from delivering data and not just voice, fueled by greater openness on their networks, industry leaders said on Wednesday. But top executives of three of the nation's four largest mobile carriers also said they are still worried by consumer demands for unfettered freedom to use
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Tribune Co on Wednesday blamed technology owned by search engine company Google Inc for treating an outdated story about UAL Corp's bankruptcy as current, breaking news. Tribune said in a press release it had identified problems with Google's "Googlebot" technology months ago and asked the company to stop using it to "crawl" for stories on
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The State Review Board is expected to hear the objections raised by two consortia that failed to win the tender for the development and expansion of Larnaca marina on September 11 and 12. The unsuccessful bidders, DJ Karapatakis & Sons and Vouros Consortium, claim this is a scandal and will challenge the Tenders Review Board’s
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Marfin Popular Bank (CPB.CY) has completed the acquisition of a 50.04% stake in RPB-Holding, the parent company of the Russian bank OOO Rossiysky Promyishlenny Bank (Rosprombank) for EUR 83 mln. Group Deputy CEO Christos Stylianides told the Financial Mirror in an exclusive interview that the Rosprombank addition expands the total branch network of Marfin Popular
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Aspis Holdings Pcl (ASP.CY) has successfully completed the EUR 90 mln capital injection into Commercial Value SA and in the process has become the largest shareholder in the rapidly expanding insurance company with extensive operations in Greece. “We promised the Greek regulatory authorities that the capital injection would be completed in early September and I’m
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The trade deficit in Cyprus for the first half of 2008 reached 2.99 billion euro in January – June 2008, recording an increase of 557,1 million euros or 22.8% compared to 2.4 bln euro in the fist half of 2007. According to the monthly report “Intra-Extra E.U Trade Statistics (Summarised Data)” issued by the Statistical
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OPEC is willing to cooperate with major oil exporter Russia, OPEC's secretary- general said on Wednesday after Moscow sent a high-level delegation to its meeting. Russia often attends OPEC as an observer and was represented on Wednesday by the influential Deputy Prime Minister Igor Sechin. Russia presented OPEC with a memorandum of understanding for future
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Lehman Brothers Holdings Inc said it plans to sell a majority stake in its investment management division and spin off commercial real estate assets as the struggling U.S. investment bank fights to raise capital. Wall Street's fourth-largest investment bank also reported a much-larger-than-expected third-quarter loss of $3.93 bln, hurt by $5.6 bln of net write-downs.
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European stocks slipped on Wednesday as investors remained jittery about the financial sector after Lehman Brothers posted a quarterly loss and announced steps to restructure the company. At 1224 GMT, the FTSEurofirst 300 index of top European shares was down 1% at 1,143.95 points. The index has lost about 24% so far this year. Lehman
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OPEC on Wednesday deepened its links with major non-OPEC producer Russia and said it was cutting back output by around half a million barrels per day. Analysts said the group was seeking to support prices at around $100 after prices have plunged from a record of more than $147 in July to a five-month low
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