About a hundred Greek flights will be grounded on Thursday due to a 24-hour strike by Olympic Airlines unions opposing the government's plan to privatise the ailing flag carrier, the company said on Wednesday. Greece's conservative government last month launched a tender to sell-off debt-ridden Olympic [OLY.UL]. It has said Qatar Airways is among the
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Shares in carmaker Volkswagen nearly halved on Wednesday after controlling shareholder Porsche took steps to ease a squeeze on shortsellers that more than quadrupled the stock in days. Porsche itself had prompted the meteoric rise in VW stock with its announcement on Sunday that it had effective control of 74.1 percent of VW, leaving less
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The United States is expected to cut interest rates on Wednesday, a measure Japan, the European Central Bank and Britain are forecast to follow by the end of next week to bolster economies facing recession. While dispensing with a repeat of the coordinated cuts made earlier this month, authorities fear the worst financial crisis in
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European shares surged 3 percent early on Wednesday, led by banks and heartened by major rallies in U.S. and Asian stocks as investors bet on a U.S. rate cut that could help shore up the battered economy. At 0935 GMT the pan-European FTSEurofirst 300 index was 3.3 percent higher at 861.55 points, rising for a
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British mortgage approvals rose last month for the first time in over a year, data showed on Wednesday, although the slight pick up from August's record low does little to suggest the housing market is about to recover. Mortgage lending last month was more than twice market forecasts, according to Bank of England figures, but
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Global economic slowdown will hurt the mobile gaming market this year and next, after it already suffered an unexpected slump last year, the head of gaming at Nokia said on Wednesday. "This year is as tough or even tougher. There are hiccups in Western Europe, North America," Jaakko Kaidesoja, head of Nokia's gaming operations told
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Hewlett-Packard Co on Wednesday will unveil a new mini-notebook in a move to gain ground in the fastest-growing PC category, which until now has been dominated by its smaller rivals. Netbooks — ultraportable, inexpensive laptops designed for Web browsing and light tasks — have taken the PC market by storm this year, with smaller computer
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Microsoft Corp is betting its next Windows operating system will be faster and easier to use and avoid the missteps of Windows Vista that alienated many users of the software that powers 90 percent of the world's PCs. Windows 7, which was previewed on Tuesday, is set to be introduced in a test version early
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Electronic Arts will launch hit titles EA Sports FIFA 09, Spore Origins and Monopoly Here & Now for Nokia's N-Gage gaming service in time for Christmas sales, the U.S. video games firm said on Wednesday. EA said in 2009 it would launch for N-Gage also Need For Speed Undercover, Tiger Woods PGA Tour and The
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Ocean Tankers Holdings Plc (OCT.CY) management announced that its net profit for 2008 would reach USD 20 mln (with parity EUR:USD at 1.27) compared to 1.47 mln in 2007. During the first half of 2008, OCT recorded a net profit of USD 7.02 mln. Management also expects its book value in 2008 to increase to
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