British house prices are set to fall by a quarter in total but could find a floor next spring, unlike in Spain, which is set for a longer housing correction, debt rating agency Standard & Poor's (S&P) said on Wednesday. S&P said the average cost of a UK house would revert to about 4.4 times
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Office Depot Inc reported a second-quarter loss on Wednesday as declining spending by smaller businesses and retail customers hurt sales. The office supplies retailer had a loss of $2 million, or a penny a share, compared with earnings of $105.6 million, or 38 cents a share, a year earlier. Small business owners have cut back
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A British computer expert lost his appeal on Wednesday against extradition to the United States where he is accused of "the biggest military hack of all time" and could face up to 70 years in prison. Gary McKinnon was arrested in 2002 after U.S. prosecutors charged him with illegally accessing computers, including the Pentagon, U.S.
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World stocks rose robustly on Wednesday as worries about oil receded, U.S. consumer confidence stabilised and corporate earnings bolstered investor sentiment. The dollar was barely changed against a basket of major currencies and euro zone government bond prices firmed. European shares were up, with the FTSEurofirst 300 gaining more than 1%. Japan's Nikkei average earlier
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Moody's Corp, the parent of Moody's Investors Service, said on Wednesday that second-quarter profit fell, hurt by a steep slide in demand for credit ratings. Net income for the New York-based company fell to $135.2 million, or 54 cents per share, from $261.9 million, or 95 cents a share, a year earlier. Moody's said operating
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Applications for U.S. home mortgages dropped to their slowest pace since December 2000 as loan rates hovering near one-year highs compounded the housing market's woes, according to data from an industry group on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity declined 14.1% to 420.8 in the week ended
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. The real job of a leader is to inspire the organization to take responsibility for creating a better future. Effective communication is a leader’s most critical tool to make things happen. When leaders fail to communicate and explain what they clearly mean when they talk of financial results, time management, the organizational structure and
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Vassiliko Cements Public Company Ltd (VCW) issued a negative profit warning with respect to its first half 2008 results. According to the announcement, the Group’s profits for 1H 2008 are expected to be lower compared to the corresponding results of 2007. The decline is attributable to the significant increase in production costs as a result
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Range is still the name of the game Charis Charilaou Chief Dealer Major currency crosses are expected to stay in range ahead of next week’s central bank decisions in the Eurozone, the US and the UK, but downside USD risks should prevail towards the end of week as US releases GDP on Thursday and Non-farm
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EUR/USD: Very neutral situation with trading dominated by tight ranges as we enter the holiday period. We expect the same situation to prevail during the week, with some activity expected towards the end of the week when the payrolls data will be released. For those of you wishing to trade, probably the best strategy is
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