Shares of top U.S. investment banks fell on Wednesday after Lehman Brothers posted a steeper-than-expected quarterly loss and slashed its annual dividend. In pre-market trading on the New York Stock Exchange, shares of Merrill Lynch were down 4% at $23.80; those of Goldman Sachs down 2% at $158.55 and those of Morgan Stanley were down
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Moscow has reaffirmed its commitment to develop Russian-Cypriot relations, according to a Russian Ministry of Foreign Affairs press release. Referring to Wednesday's meeting between Deputy Minister of Foreign Affairs Vladimir Titov with Cyprus' new Ambassador in Moscow Petros Kestoras, the Russian Ministry says ''the commitment to the development of the traditionally friendly relationship between Russia
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A slide in Britain's housing market led builder Barratt Developments Plc to cancel its final dividend on Wednesday after underlying annual profit fell 13 percent and it warned that the market remained difficult. "There is little prospect for any material improvement in trading conditions until mortgage finance and customer confidence return," chief executive Mark Clare
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After hours of wrangling, OPEC on Wednesday agreed to revise its complex output targets and said the move would effectively cut supplies by half a mln barrels per day (bpd). Ministers of the Organization of the Petroleum Exporting Countries (OPEC) had been widely expected to stick to existing production allocations, which have been in place
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Lehman Brothers will try to regain investor confidence on Wednesday with a set of "key strategic initiatives" as hopes for a Korean-led rescue crumbled only hours ahead of the planned announcement. The struggling U.S. investment bank's plan could include the sale of a package of British real estate assets to BlackRock Inc to raise much-needed
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Scientists at the European Organization for Nuclear Research (CERN) started up a huge particle-smashing machine on Wednesday, aiming to re-enact the conditions of the "Big Bang" that created the universe. The Large Hadron Collider (LHC) is the largest and most complex machine ever made and the platform for what experts say is the largest scientific
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President of the Republic of Cyprus Demetris Christofias appointed Petros Artemis President of the Supreme Court, on Wednesday. The new President of the Supreme Court will be sworn in on September 12, at the Presidential Palace.
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Cyprus' new Ambassador in The Hague Demetris Droushiotis presented his credentials to President of Surinam Runaldo Ronald Venetiaan on September 4, as the new Ambassador to the country, based in The Hague. Droushiotis informed Surinam's President on the situation in Cyprus, with special emphasis on the initiatives of President Demetris Christofias, which led to the
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Deloitte, one of the "Big Four" international accounting firms, is celebrating its 50th anniversary in Cyprus, honouring its two founders at a major event to be held in Nicosia tonight. Since 1845 when William Welch Deloitte opened his first accountancy office in London, Deloitte has become one of the largest professional services organisations in the
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Lehman Brothers Holdings Inc is set to announce its "key strategic initiatives" on Wednesday that could include plans to sell a package of British real estate assets to BlackRock Inc The Wall Street Journal reported on its Website that Lehman is in talks with BlackRock over the sale and is expected to announce a separate
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