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Another volcanic eruption in Iceland?

In the event of another powerful eruption by an icelandic volcano, the financial impact upon the European airline industry might be catastrophic.

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Euro zone industrial April orders up 0.9 percent

Eurostat releases report on industrial new orders for the month of April

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Real estate corrections not to affect Singapore banks: Fitch

Real estate corrections not to affect Singapore bank, said a Fitch report on the banking sector stability in the Asia-Pacific region.

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Moody's says budget supports Britain's triple A rating

The fiscal tightening unveiled by Britain's coalition government this week, if successfully implemented, should ensure the UK retains its triple A credit standing, rating agency Moody's said on Wednesday.

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EU focuses on deficit, not growth, ahead of G20

In the face of economic realities, European governments have decided to responded with austerity measures, choosing to focus on public debt reduction rather than stimulating economic growth through...

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Italy unemployment rate rises to 9.1 pct in Q1

The unemployment rate in Italy rose for the first three months of the year to 9.1 percent from 7.9 percent in first quarter of 2009, the Rome-based research center Istat said.

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French consumer spending rose in May; economy to grow 1.4 pct in 2010

INSEE expects the French economy to create 63,000 new jobs in 2010, after losing 255,000 last year. The unemployment rate is expected to remain unchanged at 9.9 percent.

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U.K. austerity a matter of political will

The success and implementation of U.K.'s additional spending cuts and taxes hikes are largely a matter of political will, said Mortiz Kraemer, Standard and Poor's head of sovereign ratings for Europe.

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Greek CDS, bond yield spreads rise

The cost of protecting government debt against default in Greece hit a record high on Thursday while its bond yield spread widened ahead of Greek bonds being dumped by index fund managers at month end.

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Bank of England lists key risks in UK financial system

In its bi-annual financial stability report, the Bank of England outlines the key risks to the UK banks

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Greece trade deficit down 36 pct in April

Greece’s deficit of trade balance amounted to 1.55 billion euros ($2.06 billion), 36 percent less than last year’s deficit of 2.42 billion euros ($3.17 billion).

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Leaders end G8 without agreement on bank tax; G20 begins

Leaders of the Group of Eight Industrialised Nations have ended their summit without an agreement on an international bank tax.

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Central banks warn of new crisis if exit left too late

Central banks warn of new crisis if exit left too late

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G20: Much ado about something?

G20 leaders agree to disagree on how to engineer their respective economic recoveries.

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Markets await UK final estimate GDP Q1; NIESR predict revision up to 0.4 pct

The FTSE 100 share index is awaiting the UK's final estimate of GDP for the first quarter of 2010 after the markets took in a sudden revision downwards of US Q1 GDP.

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Reforms needed to boost Nigeria corp bond mkt: c.bank

Further reforms, including to pensions and insurance, are needed to enliven Nigeria's corporate debt market, central bank Governor Sanusi Lamido Sanusi said on Monday.

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House prices fall between April and May

Housing prices have stalled, say latest figures from the Land Registry.

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CBI head Richard Lambert to step down in 2011

Richard Lambert, head of the Confederation of British Industry, said on Tuesday he would step down from his position when his five-year term ends next year.

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Greek strike to test government pension reform

Greek workers stage a new 24-hour strike on Tuesday that will gauge public discontent with government austerity measures, including a radical pension reform aimed at helping the country solve its huge...

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Q1 GDP figures to be released 12 July in UK

Final revised GDP figures for growth in the UK are to be released late after a 'potential error' in the data led to concerns over its reliability.

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Hydro is Mozambique's top energy priority: minister

Mozambique's top energy priority is to develop hydro-electricity projects, and will then focus on gas, wind and solar power, its energy minister said on Tuesday.

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Euro challenged by debt roll-over and strikes

The euro faces challenges from worker strikes and the expiry of 1-year loans to European banks.

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Banks borrow less than expected from ECB, easing fears

Banks borrowed less than expected from the European Central Bank in a key funding operation on Wednesday, easing fears about their ability to cope with the repayment of close to half a trillion euros...

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Ireland exits recession but recovery fragile

Ireland officially quit the euro zone's longest-running recession in the first quarter, data showed on Wednesday, but it remains far away from the sustained recovery needed to help fix its fiscal...

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Bank of England member argues against rate hike; warns of recession risks

BoE member argues against rate hike; warns of recession risks

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Deficit plan will cut 600,000 public sector jobs

The government's efforts to cut a record budget deficit will result in about 600,000 public sector job losses, figures from the independent Office for Budget Responsibility showed on Wednesday.

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Inflation not one of eurozone's problems

Inflation in the eurozone is likely to stay subdued because of limited demand from the economy; and the European Central Bank will probably keep interest rates unchanged well into 2011, according to...

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Bank's Miles says no need for interest rate hike yet

UK inflation is "uncomfortably" high, but there is no need for an immediate hike in interest rates, Bank of England policymaker David Miles said.

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Roy Hodgson moves to Liverpool; Harry Redknapp still linked to England post

Roy Hodgson has moved to Liverpool as reports of Harry Rednapp becoming England manager continue.

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Spain car sales to decline sharply in second half: report

Anfac expects a sharp drop in car sales in Spain in the second half of 2010

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