. The troubled national carrier has brought in Lufthansa Consulting to advise it on future prospects, hopes for survival and possibly growth. We don’t know how much LC is being paid for the advice, but we could have done it free of charge – sell the government’s majority stake and you will soon see a
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. BY SHAVASB BOHDJALIAN Cyprus’ three largest banks, Bank of Cyprus, Popular Bank and Hellenic Bank are involved in ambitious capital raising exercises to cover massive losses sustained on their Greek sovereign debt exposure and distressed property holdings in Greece and Cyprus. The attempt to reach the capital targets may however not be successful if
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Whether it is a stroll on the beach, sitting in a tranquil garden or a trip in the space shuttle researchers are testing a new iPhone app in a mass experiment to see if it is possible to craft the perfect dream. Developed by British psychologist Richard Wiseman, a professor at the University of Hertfordshire
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Commodities trader Glencore has denied it employs under-18s working at a copper mine in the Democratic Republic of Congo, saying any mining at the mothballed site is without its authority. The BBC's Panorama current affairs show, due to be broadcast on Monday, said it had footage of youngsters under the age of 18 working at
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U.S. retail sales showed unexpected vigor in March as Americans shrugged off high gasoline prices and bought a range of goods, suggesting economic growth in the first quarter was probably not as weak as many had feared. Retail sales increased 0.8%, the Commerce Department said on Monday, after rising 1.0% in February. Last month's gains,
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Sterling rose to its highest in 19 months against the euro on Monday and was poised for more gains as concerns grew about debt problems in Spain, prompting investors to seek alternatives to the common currency. Spanish 10-year government bond yields broke above 6% for the first time this year, sparking worries about a new
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Author J.K. Rowling is working on a Harry Potter encyclopedia, and will donate the royalties to charity, she has said on her website. Four years ago the British writer took an independent U.S. publisher to court to stop its plans for a reference book on the world of the fictional boy wizard, saying it constituted
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Iran's currency and stock market have experienced a small but much needed boost after nuclear talks between Iran and major world powers on Saturday that both sides described as positive and constructive. The progress of the talks, although slight, helped the rial to climb, trading at 16,500 to the dollar on the open market on
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Spain's central government may impose budget curbs on regional authorities as soon as next month in return for extending them credit lines, a government source said on Monday, an effort to placate markets as the cost of borrowing hits dangerous levels. Spanish 10-year government bond yields broke through the 6% mark on Monday for the
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Citigroup Inc's first-quarter profit beat Wall Street estimates as expenses fell 7% from the 2011 fourth quarter. The New York-based lender said earnings per share, excluding the impact of certain accounting adjustments for changes in the value debts and credits, were $1.11. Wall Street analysts, who usually exclude such accounting items, had expected, on average,
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