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Global debt write-downs may reach $4.1 trillion: IMF

Banks and other financial institutions around the world will eventually need to write down assets by $4.1 trillion in order for global financial stability to be restored, the International Monetary Fund said on Tuesday.

No quick solution to financial crisis: IMF

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Banks and other financial institutions around the world will eventually need to write down assets by $4.1 trillion in order for global financial stability to be restored, the International Monetary Fund said on Tuesday.

Global debt writedowns may reach $4.1 trillion

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Global write-downs of toxic debt among banks and other financial institutions in the United States, Europe and Japan could reach $4.1 trillion, the International Monetary Fund said on Tuesday.
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Britain's Brown suffers pre-budget poll blows

British Prime Minister Gordon Brown has lost support for his handling of the economy, two polls showed on Tuesday, the eve of what is expected to be one of the bleakest budgets in decades.
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Tesco posts record annual profit

Tesco , the world's No.3 retailer, showed its resilience to the economic downturn, posting a 10 percent rise in underlying annual profit to 3.13 billion pounds ($4.6 billion), a record for a British retailer.
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Text query firm launches new media service

Britain's AQA 63336, a general information company that receives and answers queries by mobile phone texts, launched a new text media service on Monday for providers of information on specific subjects, such as a local sports team's results.
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Sri Lanka gives Tigers ultimatum as thousands flee

Sri Lanka Monday gave the Tamil Tigers 24 hours to surrender or die after troops breached a huge earthen defense and unleashed an exodus of tens of thousands of civilians held there by the rebels, the military said.
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Tamils in London protest Sri Lanka fighting

Thousands of Tamil protesters blocked streets outside Britain's parliament on Monday to demand a ceasefire between Sri Lankan government forces and Tamil Tiger separatists on the Indian Ocean island, a former British colony.
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Asia stocks edge up, but Aussie and oil retreat

Asian stocks edged up on Monday, holding near a six-month peak and withstanding an early bout of profit-taking as investors eyed a slew of corporate earnings reports around the world this week.
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Shell buys Forties for possible storage - trade

Oil company Shell has amassed up to 10 cargoes or about 6 million barrels of Forties benchmark crude oil from the North Sea, possibly for storage, over the past two weeks, traders said on Friday.
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Britain's Brown apologizes over offensive emails

British Prime Minister Gordon Brown apologized on Thursday for offensive emails about top opposition figures sent by one of his most influential aides, as the government tried to limit fallout before next week's budget.
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Bored with training videos? Try a videogame

RESEARCH TRIANGLE PARK, North Carolina (Reuters Life!) - Forget boring company training films. A leading hotel chain has teamed with a videogame developer to create a new game to improve their employees' job performance.
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Tech magazine shift from gadget glitz to survive

Technology magazines, facing dwindling advertising and lost luster for big-ticket gadgets, may be turning their attention to helping readers make home improvements or beef-up devices they already own.
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Turkey pushes for nuclear arms-free Middle East

Turkish President Abdullah Gul called on Wednesday for a Middle East free of weapons of mass destruction, hoping that a U.S.-Russian pledge to join forces to eradicate nuclear weapons will encourage the region.
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Rio Tinto aluminum output falls 6 percent

Rio Tinto Ltd/Plc's first-quarter aluminum output fell a steeper-than-expected 6 percent, iron ore production was down 15 percent while refined copper rose 33 percent as the firm struggled to balance supply with global demand.

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