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/ 22 January 2008

World markets plunge as recession fears grow

Stocks plummeted across the world on Monday amid fears of a global recession, with markets in Europe suffering their biggest one-day losses since the September 11 attacks on the United States. Dealers said a major new plan by President George Bush to prevent a United States recession was not enough to offset the stream of bad news from banks.

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/ 23 October 2007

Troubled energy giant BP rocked by profits slump

British energy giant BP, reeling from fatal safety errors and a boardroom scandal, said on Tuesday that third-quarter profits slumped owing to lower output, weak United States gas prices and refinery outages. Net profit on a replacement-cost basis plunged 44,5% from a year earlier to $3,87-billion in the three months to September.