UNITED KINGDOM

Moody’s Downgrades 12 British Banks

RBS
Moody’s believes that the UK government will “more likely now … allow smaller institutions to fail if they become financially troubled.” Shares of RBS and Lloyds were down as much as 3.5 percent in London trading.
Afghanistan War

10 Years into Afghanistan War, U.S. is Only Halfway Done

Exactly 10 years ago Friday, the United States entered into a war with Afghanistan. And, despite President Barack Obama's plan to completely remove American troops from the country by 2014, the U.S. could be in Afghanistan for decades to come.
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Moody's cuts credit ratings on UK banks RBS and Lloyds

Credit rating agency Moody's downgraded Britain's part-nationalized banks Lloyds and Royal Bank of Scotland on Friday, although Britain's finance minister said UK banks were well-placed to cope with a European debt crisis.
Actress Helena Bonham Carter, director SJ Clarkson and author Nigel Slater (L-R) pose during a photocall to promote the movie 'Toast' at the 61st Berlinale International Film Festival in Berlin

Review: Toast all appetizer, no entree

While the United Kingdom has finally joined the rest of Europe in first-class dining -- just look at all the mouth-watering dishes Steve Coogan puts away in The Trip -- the old joke was that airplane food was the national cuisine of England. And it's that world of tinned vegetables and pork pies that made a foodie out of chef and author Nigel Slater, whose memoir is the basis for Toast.
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OCZ Tech shares leap on raised outlook, PLX unit buy

Shares of OCZ Technology Group (OCZ.O) rose almost 19 percent in early morning trade on Thursday, a day after the computer memory and storage hardware maker raised its full-year revenue outlook and said it will acquire the UK design team of PLX Technology Inc (PLXT.O).

Ghana oil target likely delayed again: GNPC

Ghana is likely to miss its target of boosting oil production to 120,000 barrels per day by the end of the year due to technical challenges, the head of state oil company GNPC said on Thursday, marking a second delay.
Britain"s Archbishop of Canterbury Rowan Williams

Archbishop of Canterbury to press Mugabe on persecution

The Archbishop Bishop of Canterbury, Rowan Williams, wants to meet Zimbabwe's President Robert Mugabe during his visit to Africa and call on him to end a violent suppression of the Anglican Church and its priests in the country.
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ECB gears up crisis measures, tussles over rates

The European Central Bank reinstated some of its most potent crisis-fighting tools on Thursday in response to intensifying euro zone troubles, but opted to keep interest rates at 1.5 percent despite some of the bank's policymakers calling for cuts.
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Instant view: BOE launches QE2 with 75 billion pound boost

The Bank of England will spend 75 billion pounds more of newly-created money to shield Britain's economy from the euro zone debt crisis and keep a faltering recovery going, opting for an early, dramatic move to maximize the impact.
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Nadal, Murray Heat Up in Tokyo

Top seed Rafa Nadal ran hard-serving Canadian Milos Raonic ragged in a 7-5 6-3 victory to secure a place in the quarter-finals of the Japan Open on Thursday.
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UK launches fresh stimulus with cash boost

The Bank of England has launched a second round of quantitative easing to defend Britain's faltering economy against the euro zone debt crisis, pledging to buy 75 billion pounds ($114.8 billion) of assets with new money in a dramatic move to stave off recession.
Buildings are reflected in a sign at British Broadcasting Corporation offices in central London

BBC Plans to Cut 2,000 Jobs, Drastically Reshape Programming

The British Broadcasting Corp. (BBC) said it will eliminate 2,000 jobs and drastically revamp programming in an effort to reduce costs by 20 percent over the next five years. The company plans to cut its budget by £670 million ($1 billion) per year.
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ECB holds rates, new liquidity help eyed

The European Central Bank kept interest rates on hold on Thursday as broadly expected and is expected to launch a set of fresh liquidity measures to help banks to weather the euro zone's worsening debt storm.

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