Citigroup Inc will eliminate 11,000 jobs worldwide, about 4 percent of its total staff, in a move to save as much as $1.1 billion a year in expenses, the company said on Wednesday. The move will initially result in pre-tax charges of $1 billion to fourth-quarter earnings, the company said in a statement. The move
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Sterling will weaken slightly against the dollar in the coming year as the UK economy risks sliding back into recession and could force the Bank of England to begin buying government bonds again, a Reuters poll showed. According to the poll of over 60 analysts, taken ahead of finance minister George Osborne's autumn budget statement,
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Fashion gurus Domenico Dolce and Stefano Gabbana are no strangers to spotlight. But this time it’s not about applause on the catwalk, but questioning at the court room, on alleged tax evasion charges. The creative duo is accused of avoiding tax payments on over $1.3 billion of income. Calling the accusations "absurd", Dolce and Gabbana
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– Supplies of gloves and gowns threatened by budget cuts – EU officials fear rising rates of superbug infections – Greek govt says healthcare system is 2 bln euros in debt Greek hospitals are in such dire straits that staff are failing to keep up basic disease controls such as using gloves and gowns, threatening
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The euro zone's economic slump was a little less pronounced in November than previously thought, although there are few signs the region will emerge from recession any time soon, business surveys showed on Wednesday. Markit's Eurozone Composite PMI, which gauges business activity across thousands of companies, rose in November to 46.5 from 45.7 in October
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Low-cost African carrier Fastjet Plc said it was in potential partnership talks with Emirates Airline, sending it shares up as much as 7 percent on London's AIM. "Talks are at an early stage but this represents a great opportunity for both parties," Fastjet Chief Executive Ed Winter said in a statement. Fastjet, which began commercial
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Blocked roads and severed communications in the southern Philippines frustrated rescuers on Wednesday as teams searched for hundreds of people missing after the strongest typhoon this year killed at least 283 people. Typhoon Bopha, with central winds of 120 kph (75 mph) and gusts of up to 150 kph (93 mph), battered beach resorts and
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A 116-year-old woman listed by Guinness World Records as the oldest living person anywhere around the globe died on Tuesday in a nursing home in the U.S. state of Georgia soon after having her hair done. Besse Cooper died peacefully at the Park Place nursing home in Monroe, Georgia, according to her son Sidney Cooper.
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Greece has scored the worst ranking of all 27 European Union nations in a global league table of perceived official corruption, falling below ex-communist Bulgaria as public anger about graft soars during the country's crisis. The index on state sector corruption, published by anti-corruption watchdog Transparency International (TI) on Wednesday, also showed other struggling euro
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In the year 2011, 14.1% of Cypriots lived on the verge of poverty, while almost one in four Cypriots met at least one of the three community criteria for poverty, according to data released by Eurostat. Furthermore, 23.5% of the population, that is 200,000 Cypriots in 2011, met at least one of the three criteria,
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