UBS said it settled a Federal Housing Finance Agency lawsuit over soured mortgage investments, taking an 865 mln Swiss franc ($919.63 mln) charge against second-quarter earnings for litigation, impairments and other provisions. The Swiss bank, which reports the full quarter on July 30, said its net profit was 690 mln francs, from 425 mln francs
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In a copy-cat case where Cyprus authorities failed to open 190 containers from Iran headed for Syria that blew up in 2011 killing 13 people, Panamanian investigators unloading the cargo of a seized North Korean ship that carried arms from Cuba found the two MiG-21 fighter jets the Cuban government had said were on board.
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Multiple car bombings in predominantly Shi'ite districts of Baghdad killed at least 30 people on Saturday, police and medics said, the latest in a series of attacks that threaten to sink Iraq once again into full-blown sectarian conflict. Most of the attacks struck in busy commercial areas where people had gathered to shop and socialise
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Belgium swore in Philippe as its new king on Sunday after his father Albert II abdicated, subduing for a day questions about his ability to bring a divided country together and the power of the monarchy. Philippe, 53, took his oath in Belgium's three official languages – Dutch, French and German – two-and-a-half weeks after
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Lufthansa Group has landed first prize in the technology category of The Airline Strategy Awards conferred by the prestigious Airline Business magazine, underlining the technical competence and power of innovation of Lufthansa Technik, the groups subsidiary and the world market leader in MRO (maintenance, repair and overhaul) services. The award was presented at a ceremony
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Application deadline August 16, 2013 The Stelios Philanthropic Foundation is giving each of 10 entrepreneurial teams a chance to win €10,000 for their business, dedicated to promoting trust and bi-communal teamwork in Cyprus. Initiated by easyGroup founder, Sir Stelios Haji-Ioannou, the Stelios Award for Business Cooperation in Cyprus has become a milestone on the island
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Teens in a deprived area of east London are sparing no expense when it comes to impressing their friends for a few hours by hiring exotic cars with a price tag that can sometimes rival the cost of the flats where they live. Lamborghinis, Ferraris and even Bentleys that once were the preferred wheels of
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Pope Francis, moving to overcome major crises in the Holy See, on Friday set up a special commission to reform its economic and administrative departments, the Vatican said. The commission, which will report directly to the pope, would advise him on economic affairs, improve transparency and ensure correct application of accounting principles, the Vatican said.
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The British government unveiled what it described as the world's most generous incentives for shale gas on Friday, offering tax breaks to drive investment in a sector that has already transformed the U.S. energy market. Finance minister George Osborne said the government wanted to create the right conditions in Britain for industry to unlock the
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Britain's Stansted airport on Friday urged the government to let it expand into a four-runway hub, the latest group to put forward multi-billion-pound plans aimed at addressing London's air capacity crunch. The government and business want to expand flights to fast-growing economies to ensure Britain doesn't miss out on billions of pounds of trade. With
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