By Emily Kaiser and Mark Felsenthal WASHINGTON, July 15 (Reuters) – Restoring financial market stability is a top priority for the U.S. Federal Reserve as a weakening housing market, tighter credit and rising oil prices threaten the economy, Fed Chairman Ben Bernanke said on Tuesday. "Accurately assessing and appropriately balancing the risks to the outlook
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By Andras Gergely and Paul Sandle DUBLIN/LONDON, July 15 (Reuters) – Ryanair and British Airways will cut flights next winter due to the rising cost of fuel which is threatening to wipe out their profits this year, the two companies said on Tuesday. Ryanair, Europe's biggest budget airline, said it would cut weekly flights at
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Oil tumbled by more than $9 to near $136 a barrel in volatile trading on Tuesday on profit-taking driven by technical factors and as fears receded that a strike by Brazilian oil workers would hit supplies. "This is largely profit-taking run amuck. There is no real hard news that you can tie this to. We
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European stocks pared losses in late trading on Tuesday but remained deep in the red as oil prices dropped 5 percent. At 1518 GMT, the FTSEurofirst 300 index of top European shares was down 1.96 percent at 1,111.68 points, after falling by more than 3 percent. U.S. crude oil futures sank more than $7 to
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ATHENS, July 15 (Reuters) – More than 50 fire engines and 11 planes battled a large forest fire near the Greek capital Athens on Tuesday, as high winds threatened to drive the blaze towards a munitions dump, authorities said. Some 280 fire fighters and three helicopters struggled to control the flames near the village of
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Α delegation of the international Moody's rating agency, which carries out financial monitoring and analysis on commercial and government organisations, holds a one-day visit to Cyprus for the regular review and assessment of the latest developments in the Cyprus economy. A press release issued by the Cyprus Central Bank says the delegation met today with
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The 2.5 billion text messages sent every year by roaming customers in the EU cost over 10 times more than domestic short messages (SMS), show figures released by the European Commission. The average cost of a roaming text message in the EU between October 2007 and March 2008 was EUR0.29 according to the European Regulators’
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Bank of Cyprus Public Company Ltd announces to the investing public that the Cyprus Securities and Exchange Commission has approved on 14 July 2008 Supplementary Prospectus relating to the Issuer’s Registration Document dated 21 May 2008 which is part of in the Prospectus dated 21 May 2008 drawn up as separate documents. The Supplementary Prospectus
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The U.S. Treasury Secretary could make greater progress toward a safer financial system by putting Fannie Mae and Freddie Mac into federal receivership, the Wall Street Journal said on Tuesday. If the current law doesn't give Henry Paulson that power, he should seek it from Congress, the newspaper said in an editorial on its website.
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Jumbo announced that 2008 sales growth for the financial year-end June, 2008 reached 17.88%, implying sales at EUR404mln. The revised guidance of the management called for sales at EUR402.3m (+17.4% y-o-y) and net earnings at EUR82.5m (+21.4% y-o-y). Moreover, Jumbo announced that its investment plan for network expansion continues with three new openings in the
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