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Africa/International
Dubai World gets full support for restructuring
State-owned Dubai World has secured support from all its creditors for a $25 billion debt restructuring plan, a spokesman said on Wednesday, helping to avoid a drawn-out battle with a special tribunal.
The spokesman did not provide further…
France pension reform bill ready for final vote
France's National Assembly is set to take a final vote on a controversial pension reform bill, with President Nicolas Sarkozy hoping it will bring an end to a series of damaging strikes.
The bill is almost certain to pass but may still…
Asian stocks fall
Asian stock markets fell Wednesday as slowing South Korean growth underscored weakness in overseas demand and investors fretted the U.S. Federal Reserve's expected stimulus measures may not be enough to boost the economy.
Japan's benchmark…
US companies said to be hoarding almost $1 trillion in cash
U.S. companies are hoarding almost $1 trillion in cash but are unlikely to spend on expanding their business and hiring new employees due to continuing uncertainty about the strength of the economy, Moody's Investors Service said on…
Glaxo to pay $750m fine for selling tainted products
GlaxoSmithKline, the British drug giant, has agreed to pay $750 million to settle criminal and civil complaints that the company for years knowingly sold contaminated baby ointment and an ineffective antidepressant — the latest in a growing…
Alchohol energy drinks hazards cause fear in America
The revelation this week that sugary, high-alcohol energy drinks helped send nine Washington state college freshmen to the hospital after an off-campus party has renewed public concern about the hazards of the beverages.
Several states…
Asian stocks lower ahead of earnings
Asian markets were mostly lower Tuesday as investors readied for a slew of corporate earnings and Australian shares sank amid a backlash against a foreign takeover of the country's stock exchange.
Major Japanese corporations from Sony…
British economic recovery ‘to show sharp slowdown’
The economic recovery in Britain is expected to show a sharp slowdown when figures are released later on Tuesday.
The economy grew by a healthy 1.2% in the second quarter of the year, but most analysts predict that in the third it will…
British public says spending cuts unfair
Most voters believe government spending cuts announced last week are unfair and excessive, two opinion polls showed on Tuesday. Skip related content
However the surveys were inconclusive about support for the coalition and the opposition,…
Oil under pressure from dollar
Oil fell toward $82 on Tuesday, under pressure from an expected gain in U.S. crude stockpiles for three out of four weeks and a stronger dollar, as the currency's volatility exposed the market to price swings.
Crude pared early losses as…