By Mike Peacock LONDON, Jan 14 (Reuters) – Major American banks are expected to unveil substantial losses and secure more cash from abroad in what is shaping up to be a pivotal week for the global credit crisis, with central banks also poised to weigh in again. Citigroup Inc. could write off as much as
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LONDON, Jan 14 (Reuters) – Annual British factory gate inflation rose to a fresh 16-year high in December as food price inflation hit a record high and oil prices continued to climb, official data showed on Monday. The Office for National Statistics said output prices rose 0.5 percent on the month in December, taking the
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(By Adrian Croft and Katherine Baldwin LONDON, Jan 14 (Reuters) – British Prime Minister Gordon Brown, often accused of being lukewarm towards the European Union, said on Monday it would be a mistake to question Britain’s EU membership at a time of global economic problems. Recent financial turbulence was “a wake-up call” for every economy
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Consumers across Europe would be able to make better informed choices when they take out consumer credit loans – paying for holidays, weddings or a new car – following a vote in the European Parliament on Wednesday 16th January 2008. The proposed EU Directive on Consumer Credit Loans aims to break open the €800 billion
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The European Commission has today adopted a proposal to revise the Novel Foods Regulation with a view to improving the access of new and innovative foods to the EU market, while still maintaining a high level of consumer protection. Under the draft Regulation, novel foods would be subject to a simpler and more efficient authorisation
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The active phase of the euro changeover is now nearly finished in Cyprus and Malta. Thanks to intensive and systematic preparations and to the active and enthusiastic participation of citizens, the euro has been introduced quickly but smoothly into the daily life of the Cypriot and Maltese populations and the former currencies have now nearly
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Cyprus Foreign Minister Erato Kozakou-Marcoullis is conclusing her Middle East tour with an official visit to Kuwait this week. Mrs Marcoullis is in Kuwait from 13-15 January and will have a meeting with her counterpart Sheikh Mohammad al-Sabah al-Salem al Sabah. She will also be received by the Emir, Sheikh Sabah al-Ahmad al-Jaber al-Sabah and
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United Internet AG announced Monday it has acquired parcels of shares in Versatel AG and now holds a total of 25.05% of the capital stock of Versatel AG, Berlin. The average price per share for total 11,022,000 shares amounts to EUR 16.28. With this equity acquisition United Internet is pursuing a strategic positioning as part
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Motorola, Inc. expanded its ROKR family of music products with the introduction of the ROKR E8 mobile device, the EQ5 and EQ7 wireless speaker systems and new stereo headsets at the 2008 International Consumer Electronics Show in Las Vegas. This new generation of ROKR products offers consumers a complete music ecosystem that can help them
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2006 and 2007 were tough for the European automotive industry and challenges will persist in 2008 as European car manufacturers continue to face difficulties improving market share and enhancing profitability, Moody’s Investors Service said in a new Industry Outlook. “On a global scale, we expect worldwide demand for cars and trucks to grow at around
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