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Africa/International
Citigroup takes over music label EMI
Citigroup Inc. has taken over debt-strapped EMI Group Ltd., closing a disastrous purchase of the music label by Guy Hands, founder of British private equity firm Terra Firma.
The foreclosure by Citigroup, EMI's main lender, brings the…
Asian stocks rise on strong data
Asian stocks jumped on Wednesday and the dollar sank as a surge in U.S. manufacturing and strong company earnings convinced investors to pile back into riskier assets despite turmoil in Egypt.
Commodities prices remained firm, bolstering…
Jordan King sacks Prime Minister
Bowing to anti-government protests inspired by a wave of unrest across the Arab world, King Abdullah II of Jordan dismissed Prime Minister Samir Rifai and his cabinet on Tuesday and ordered a new premier to carry out speedy political…
Egyptians reject Mubarak’s stance
President Hosni Mubarak defied a quarter-million protesters demanding he step down immediately, announcing Tuesday he would serve out the last months of his term and "die on Egyptian soil." He promised not to seek re-election, but that…
US probes BP for manipulation of gas market
BP said U.S. regulators were considering filing charges against it related to alleged manipulation of the gas market.
"The U.S. Federal Energy Regulatory Commission (FERC) and the U.S. Commodity Futures Trading Commission (CFTC) are…
ECOWAS Group at AU summit discusses Cote d’Ivoire
The ECOWAS Group attending the African Union (AU) summit in Addis Ababa, Ethiopia, has held a caucus meeting on Cote d'Ivoire to help fashion out a way for peace in the country after a disputed presidential election last year.
Details of…
World stocks rise on higher earnings, oil prices
World shares moved higher Tuesday after overnight gains on Wall Street offset worries about political unrest in Egypt and the prospects of an imminent interest rate hike by China's central bank appeared to fade.
Oil prices hovered near $92…
Chelsea buys Torres for £50m
Chelsea have broken the British transfer record by paying a reported £50m to seal the capture of striker Fernando Torres from Liverpool.
The 26-year-old Spain international signed a five-and-a-half-year contract with the Blues.
"This is…
UK government urged to delay some spending cuts
The government should delay some spending cuts planned for this year because of a weak economy, and balance future fiscal consolidation more towards tax rises, a leading economic think tank said on Tuesday.
The assessment by the…
BP resumes dividents despite full-year loss
BP PLC announced Tuesday it is resuming dividends for the first time since the Gulf of Mexico well disaster, as the oil company reported a 30 percent gain in fourth-quarter profits which fell short of reversing a full-year loss.
BP said it…