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UK faces enormous economic challenge: Osborne

The British economy is in a dire state and there will be difficult times ahead as the government takes action to tackle a record budget deficit, new finance minister George Osborne said.

Prudential to outline Asia asset sales: source

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Britain's Prudential Plc is expected to outline divestments of some Asian assets in its upcoming rights offering prospectus in an effort to appease shareholder concerns about its planned AIA acquisition, a source familiar with the process told Reuters on Friday.

Deutsche Bank CEO doubts Greece can repay debt: report

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Deutsche Bank Chief Executive Josef Ackermann cast doubt on Greece's ability to repay its debt in a TV interview and said a $1 trillion euro zone rescue package will help stabilize Italy and Spain, while the situation in Portugal is more difficult.
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Australian dollar outlook 14/5/2010

The Australian dollar has opened lower this morning as investors moved away from risk assets, leading to falls in equities and commodity prices.
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Trade gap hits 15-month high

The trade deficit hit its widest point in 15 months in March as a broadening economic recovery boosted demand for foreign goods, with a rise in exports and imports seen as a sign of growing global demand.
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Infections cause 68 pct of child deaths, study finds

(Reuters) - More than two thirds of the estimated 8.8 million deaths in children under five worldwide in 2008 were caused by infectious diseases like pneumonia, diarrhea and malaria, according to a study on behalf of the World Health Organization and the United Nations Children's Fund (UNICEF).
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Gold gains amidst market turmoil: Jeff Nichols

Last week's action on Wall Street and other world markets demonstrated anew gold's special qualities as a financial life preserver in tumultuous and uncertain times. With stock prices plummeting and the euro continuing to lose value as well as credibility, gold was virtually the only financial and investment asset to shine, continuing its recent sharp climb and breaking through the $1,200 level, according to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital.
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Opel's fate hangs on Berlin meeting on Wednesday

The last major European country to approve keeping Opel afloat with money backstopped by taxpayers could make a preliminary recommendation on Wednesday affecting as many as 120,000 jobs in Germany alone.
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Euro slips on EU debt woes, Asian stocks soft

The euro slipped on Wednesday on nagging worries about festering euro zone debt problems despite a $1 trillion rescue package unveiled this week, which fueled a short-lived rally in global stocks.
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Daily forex forecast - 12/5/2010

The Australian dollar rallied against the US during Asia despite data showing a decline in business confidence and job advertisements.
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AIG chief confident AIA sale will proceed: source

American International Group Inc Chief Executive Robert Benmosche told employees he is confident a $35.5 billion deal to sell its Asian life insurance unit would move forward, a source familiar with the matter said.
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Global stock rally slows, doubts on euro debt

A massive relief rally in world stocks on news of a $1 trillion deal to resolve Europe's debt crisis slowed down on Tuesday in Asia on nagging doubts about how Greece and other debt-laden euro zone countries will reduce their budget deficits.
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Australian dollar outlook 11/5/2010

The AUD is fairly unchanged from yesterday's close to be currently trading around USD0.9030 despite the huge gains posted in the offshore equity markets.
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McDonald's April sales rise, shares gain

McDonald's Corp reported a higher-than-expected 4.9 percent rise in worldwide April sales at established restaurants, boosted by strength in Europe, and its shares rose about 4 percent.
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Bank of England holds rates, no change on QE

The Bank of England kept interest rates at 0.5 percent and made no change to its asset purchase target on Monday, keeping in place stimulus measures designed to nurse the economy back to health.
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Forex - Bank of England holds rates, no change on QE

The Bank of England kept interest rates at 0.5 percent and made no change to its asset purchase target on Monday, keeping in place stimulus measures designed to nurse the economy back to health. The decision was predicted by all 63 economists polled by Reuters, most of whom do not expect interest rates to rise until the fourth quarter of the year at the earliest.

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