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/ 12 May 2008

US court allows apartheid lawsuit to proceed

The United States Supreme Court said on Monday that it cannot intervene in an important dispute over the rights of apartheid victims to sue US corporations in US courts because four of the nine justices had to sit out the case over apparent conflicts. The result is that a lawsuit accusing some prominent companies of violating international law will go forward.

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/ 22 March 2008

Central banks in mortgage crisis talks

Central banks on both sides of the Atlantic are in talks about the feasibility of mass purchases of mortgage-backed securities in a bid to solve the global credit crisis, the Financial Times said on Saturday. The newspaper, without citing sources, said the talks were at an early stage and part of a broader exchange on how to battle the turmoil in financial markets,

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/ 15 March 2008

Credit-crunch woes claim fifth-biggest US bank

The global credit crunch claimed its biggest victim yet on Friday when the United States Federal Reserve orchestrated an emergency bail-out for Bear Stearns after a cash crisis prompted a run on the US’s fifth-biggest investment bank. President George Bush sought to calm fears of a deep recession in the world’s biggest economy.

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/ 25 February 2008

Stocks, dollar rise on bond insurer rescue hopes

World stocks and the dollar rose on Monday as talk of a rescue plan for a United States bond insurer and comments that Qatar is interested in investing in European banks eased concerns about the banking industry. Energy and commodity prices remained firm, with geopolitical concerns in Iran and Turkey lifting oil prices above a barrel.

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/ 28 November 2007

Oil dips below $94 as stocks struggle

Oil fell below a barrel on Wednesday, pinching some of Asia’s top resource stocks, while nagging fears that a credit market squeeze will sap global growth weighed on the dollar and the region’s exporters. News that top United States bank, Citigroup, got a ,5-billion capital injection from Abu Dhabi’s investment arm on Tuesday buoyed US stocks.

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/ 1 October 2007

World credit crunch claims another victim

UBS AG, the world’s largest wealth manager, unveiled $3,4-billion in losses, has swept out senior managers and slashed jobs in one of the biggest casualties yet of the worldwide credit crunch. UBS said on Monday it will write down a net four billion Swiss francs ($3,42-billion) in its fixed-income portfolio and elsewhere.

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/ 10 September 2007

European shares fall as fears grow over US outlook

European stocks fell by midday on Monday in a choppy session as gains in commodity stocks were overshadowed by mounting concern that the United States economy could be headed for recession after Friday’s dismal jobs report. Oil and gas shares were the top performers on the broader European market in spite of a fall in crude oil futures.