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Fed to discuss economy; no move on
interest rate
New York: Soft
economic data, the battered US stock market and a weakening dollar
should give Federal Reserve officials plenty to talk about at their
two-day meeting this week but no cause for action on interest rates.
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IMF
sees US outlook favourable, not to raise rate
New York: The
US economys outlook is favourable and interest rates need not be
raised until the recovery gathers steam, according to a new
International Monetary Fund report notable for its criticism of the
Bush administrations economic performance.
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Folks
have a new wagon
New York: Boxy,
boring, bland the VW Golf has spent 28 years and four facelifts as
the butt of car critics putdowns, but today it became the firms
best-selling vehicle, outstripping the legendary Beetle.
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Sacked
Enron staff to get $29 million more
New York:
Workers laid off by Enron Corp
will get additional severance money after a bankruptcy judge ruled
they were eligible for more money.
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Pak
SC rejects interest-free banking
Islamabad:
Giving great relief to the
government and commercial banks, the Shariat Appellate Bench of the
Pakistan Supreme Court has set aside its own three-year-old ruling to
implement interest-free Islamic banking.
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United
Airlines seeks $1.8-billion aid
Chicago:
United Airlines asked the government for $1.8 billion in federal loan
assistance on Monday, making it the biggest airline yet to seek help
under a programme set up after September 11 to prop up the ailing
industry.
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German
Ifo business barometer falls
Berlin: Germanys
key Ifo business barometer fell in June as firms expectations about
the future declined, confounding market hopes of a continued rise.
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Parmesan wins EU trademark war
Rome:
Producers of Italys prized
Parmesan cheese won a boost on Tuesday when Europe's highest court
ruled that makers of a cheaper competing product should be barred from
using the trademark.
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Dynegy
announces plan to raise funds
New York:
Dynegy Inc will raise at least $2 billion and expand its financial
reporting, elements of a restructuring it says will shore up its
finances and improve its image on Wall Street.
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Airbus
inks deal with 3 Japanese parts makers
London:
European aircraft maker Airbus
has said it had signed deals worth more than $850 million with three
major Japanese parts suppliers to help build the world's biggest
passenger plane.
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