The Federal Reserve acted on rumors last month and called Credit Suisse Group to see if it had pulled a credit line from Lehman Brothers Holdings Inc, The Wall Street Journal said citing people familiar with the matter. Credit Suisse told Federal Reserve officials that there was no truth to the rumor and it had
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Oil raced above $116 a barrel on Thursday, a third straight day of gains, on supply concerns after Russia expressed its displeasure over a U.S.-Poland defense pact. U.S. crude futures gained 80 cents to $116.36 a barrel by 0709 GMT, while London Brent crude climbed 65 cents to $115.01. Oil prices are down more than
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By Jason Webb If more confirmation were needed of the funereal state of Spain's economy, it can be found in the shape of The Debt Collector in Top Hat and Tails. That's a translation to English of "El Cobrador del Frac", the name of a company which specialises in sending men dressed like extras from
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Britain's leading share index fell 1 percent early on Thursday as renewed credit jitters weighed heavily on banks, though firmer metal prices lifted mining stocks. By 0740 GMT, the FTSE 100 was down 54.5 points at 5,317.3, after rising 1 percent to snap a three-session losing run on Wednesday. "It's continued worries from the U.S.
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Asian stocks fell on Thursday on gloom about the ability of exporters to weather a widespread economic slowdown, while the U.S. dollar slipped as oil prices rose to above $116 a barrel and halted a rally in the currency. The U.S. housing market, the source of a financial crisis that threatens to drag all Group
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The Board of Directors of Aspis Holdings Pcl (ASP.CY) decided to propose to the Company’s EGM to be held on 11 September 2008 its authorization to proceed with the issue and allocation of up to 18,000,000 shares (within a period of six months) of nominal value of EUR 0.68 each at the price of EUR
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Primetel Plc (PTL.CY) announced its intention to submit a Public Offer to shareholders of Spidernet Services Public Limited (SNET.CY) for the acquisition of up to 100% of the issued share capital of SNET in a share swap valued around EUR 12 mln. PrimeTel wants to issue 3 new PTL shares and offer them for every
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The Cyprus Inland Revenue Department (IRD) revenues for the period January – July 2008 increased by 0.3% YoY to EUR 1.0 bln. The marginal improvement is primarily attributed to higher revenues associated with Special Contribution for Defence up by 24.8% YoY to EUR 245.3 mln. Revenue from Corporation Tax deteriorated by 2.1% YoY to EUR
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Alliance International Reinsurance Public Company Ltd (ALL.CY) announced that Flagstone Reassurance Suisse SA has announced its decision to submit a Public Offer for the acquisition of up to 100% of ALL’s issued share capital at EUR0.48/share in cash. Flagstone Reassurance Suisse SA currently holds 20,475,828 ALL shares translating to 29.96% stake in the subject Company.
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SFS Group Plc (SFS.CY) announced that following the acquisition of 90.07% of White Knight Holdings Public Company Ltd (WKH.CY) share capital, the Company has decided to proceed with a squeeze out (within 3 months) so as to acquire 100% of WKH’s share capital. SFS also announced that the Chairman and CEO of SFS Christodoulos Ellinas,
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