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UK’s Marks & Spencer profits fall 10% in H1

by on November 8, 2011

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(MENAFN) UK’s retail chain Marks & Spencer (M&S) announced 10 percent decline in first half profits, Reuters reported. The company said it posted a profit, before tax and one-off items, of …

Continued here:
UK’s Marks & Spencer profits fall 10% in H1

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Repsol doubles proven oil reserves in Argentina

by on November 8, 2011

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(MENAFN) Spanish Repsol YPF unveiled 1 billion barrels of shale oil in Argentina, the largest oil discovery in its history, AP reported. The Spanish-Argentine energy company’s latest discovery …

Continued here:
Repsol doubles proven oil reserves in Argentina

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Gazprom Neft records USD1.27b profits in Q3

November 8, 2011

(MENAFN) Gazprom Neft, the oil arm of Gazprom, reported 47 percent hike in quarterly profits, Reuters reported. Gazproms’ fifth oil producer said that its profits rose to USD1.27 billion profits …

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Nord Stream gas project inaugurated

November 8, 2011

(MENAFN) the Russian President Dmitry Medvedev opened, along with EU leaders, inaugurated USD10.2 billion natural gas pipeline from Russia to Germany, AP reported. The pipeline links Western …

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German Roth & Rau record USD71m loss in Q3

November 7, 2011

(MENAFN) Germany’s Roth & Rau AG recorded a loss before interest and taxes of USD71 million in the third quarter, Bloomberg reported. The loss includes USD62 million for writedowns on inventories …

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Ryanair plans to exploit short-haul gaps left by BA-bmi deal

November 7, 2011

(MENAFN) Ryanair Holdings Plc unveiled plans to accelerate jet-order talks with Boeing Co. and China’s Comac, as it aimes to to exploit gaps left by a merger of British Airways with bmi, Bloomberg …

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France to apply new austerity measures for 2012 and 2013

November 7, 2011

(MENAFN) French Prime Minister Francois Fillon said that the government will increase taxes and spending cuts amounting to USD25.6 billion in 2012 and 2013, Bloomberg reported. The strategy is …

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Vornado buys a Washington property for USD104m

November 7, 2011

(MENAFN) Vornado Realty Trust said it reached a deal to buy 97.5 percent stake in the Executive Tower, in 1399 New York Ave., for USD104 million, Bloomberg reported. The company said that the …

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Sheraton plans to extend chain in Sri Lanka

November 6, 2011

(MENAFN) A Sri Lankan official said Sheraton Hotels and Resorts plans to build a hotel in Colombo on a land that was originally offered to a Chinese firm, Reuters reported. The Economic minister …

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GM to recall thousands of Pontiac G8s

November 6, 2011

(MENAFN) General Motors Co. said it plans to recall more than 38,000 Pontiac G8 models to fix airbag modules for the front passenger seats Reuters reported. The recall plan affects 38,444 Pontiac …

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Bridas backs down on BP’s USD7.1b asset sale

November 6, 2011

(MENAFN) British Petroleum said that its USD7.1 billion deal to sell a stake in Argentine crude producer Pan American Energy LLC to China’s Cnooc Ltd. Was scrapped. BP reached an accord to sell …

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Qantas offers free flights to win back passengers confidence

November 6, 2011

(MENAFN) Australia’s Qantas Airways said it is offering free flights to passengers who were affected by the airline’s decision to ground its entire fleet over a labor dispute, in a move to win back …

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IAG agrees to buy bmi

November 5, 2011

(MENAFN) British Airways owner IAG reached an agreement with Lufthansa to buy its UK unit bmi as it seeks to expand services to emerging markes in Asia and Latin America, Reuters reported. The …

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US job market signals improvement in Oct

November 5, 2011

(MENAFN) US Labor Department unveiled an improvement its jobs report for October, as unemployment rate hit a six-month low, Reuters reported. This latest employment report suggested the economy …

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US MGE Energy Q3 net income up 6%

November 5, 2011

(MENAFN) MGE Energy Inc. said that as a result of higher demand, the utility holding company’s net income grew 6 percent in the third quarter to USD21 million from USD19.9 million in 2010, reported …

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India’s ONGC Q2 net profit soars 60% to USD1.76b

November 5, 2011

(MENAFN) India’s Oil & Natural Gas Corp. (ONGC) said that in the second quarter, net profit surged 60 percent to USD1.76 billion, compared with USD1.08 billion in 2010′s same period, reported Arab …

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South Africa hyenas chew way to freedom

November 5, 2011

(MENAFN – Jordan Times) Two hyenas escaped from a South African wildlife park Wednesday by chewing through an electric fence during a power outage, but were recaptured within half-an-hour, the park …

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Cambodian floods spark shortage of rat meat

November 5, 2011

(MENAFN – Jordan Times) So many rats have drowned in Cambodia’s worst flooding in over a decade that the cross-border trade in the rodent’s meat has plummeted, Prime Minister Hun Sen said Wednesday. …

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Police officer sues over bagel sandwich with hair

November 5, 2011

(MENAFN – Jordan Times) A police officer is suing a New Jersey delicatessen and its cook, who admitted stuffing body hair into the officer’s bagel sandwich in revenge for a traffic arrest. The …

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Merkel loves Greeks ‘when they act reasonably’

November 5, 2011

(MENAFN – Jordan Times) German Chancellor Angela Merkel joked ahead of a crunch summit on the eurozone debt crisis Wednesday that she loved Greeks “when they act reasonably”. Asked at an event …

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Swedish rally driver not fast enough for son’s birth

November 5, 2011

(MENAFN – Jordan Times) Swedish rally driver Per-Gunner Andersson is known for his speed behind the wheel but he wasn’t fast enough this weekend when his wife had to give birth in their car on the …

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G20 puts Italy under watch

November 5, 2011

(MENAFN – Arab News) France: Leaders of the world’s 20 most powerful economies Friday pushed Europe into acting to stop Italy following Greece into a debt crisis, but failed to come up with new …

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Obama: US Trusts Europe to Solve Its Debt Problems

November 5, 2011

(MENAFN – Qatar News Agency) US President Barack Obama said he had faith that the eurozone would master its debt problem, in a joint interview with French President Nicolas Sarkozy aired late …

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German factory orders plunge as debt crisis deepens

November 5, 2011

(MENAFN – Saudi Press Agency) German factory orders plunged in September following a dramatic 12.1-per-cent monthly contraction in demand from the country’s key eurozone partners, data released …

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Dollar rises ahead of Greek confidence vote

November 5, 2011

(MENAFN – Saudi Press Agency) The dollar rose against most other currencies Friday after the Labor Department raised its estimates of job growth. Turmoil in Greece that could jeopardize Europe’s …

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US Berkshire Hathaway Q3 profit down 24% to USD2.28b

November 5, 2011

(MENAFN) Berkshire Hathaway Inc. said that as a result of the decrease in the value of the company’s equity derivative contracts, profit in the third quarter dropped 24 percent to USD2.28 billion, …

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Germany sees tax intake $22.3 billion higher

November 5, 2011

(MENAFN – Saudi Press Agency) Germany expects its tax take this year to come in ?16.2 billion ($22.3 billion) higher than previously forecast, which should help the country balance its budget by …

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US St. Joe Q3 loss drops to USD2.4m

November 5, 2011

(MENAFN) St. Joe Co said that loss during the third quarter declined to USD2.4 million, compared with a loss of USD13.1 million in last year’s same period, reported AP. The real estate developer …

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GM hints interfering in Saab sale to Chinese companies

November 5, 2011

(MENAFN) General Motors hinted to block Saab acquisition deal with the two Chinese companies Pang Da and Youngman, AFP reported. The Chinese companies said lately that they would invest USD855 …

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Toyota, Honda output recovery plans delayed to 2012

November 5, 2011

(MENAFN) Toyota Motor Corp. and Honda Motor Co. plans to recover production lost to parts shortages caused by Japan’s earthquake may be delayed until next year because of flooding in Thailand, …

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France’s Sanofi Q3 profit down 3% to USD3.29b

November 3, 2011

(MENAFN) French Sanofi said that since generic competition hampered sales of three main medicines, profit during the third quarter fell 3 percent to USD3.29 billion compared with USD3.39 billion in …

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BMW Q3 net income surges 24%

November 3, 2011

(MENAFN) Bayerische Motoren Werke AG (BMW) said that due to higher demand over the company’s X3 sport-utility car, third-quarter net income surged 24 percent from 2010 to USD1.48 billion, reported …

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Starting 2012, Indonesia will impose ban on salt imports

November 3, 2011

(MENAFN) Indonesia’s Coastal and Small Islands Director General at Maritime and Fishery ministry, Sudirman Saad, said that since the country’s output of salt would reach 1.4 million tons in 2012, …

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US CenturyLink Q3 net income down 40%

November 3, 2011

(MENAFN) CenturyLink Inc. said that due to higher operating expenses, net income in the third quarter dropped 40 percent to USD140 million, compared with USD232 million in 2010′s same period, …

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Russia Oct oil output surges to 10.34m bpd

November 3, 2011

(MENAFN) Russia’s Energy Ministry said that last month, the country’s oil output reached its highest level of 10.34 million barrels per day (bpd) compared with 10.30 million bpd in September, …

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US 2012 economy to grow below forecasts: Fed

November 3, 2011

(MENAFN) The Federal Reserve said that the US economy would be expected to grow moderately in 2012 by 2.5 percent to 2.9 percent, compared with earlier projections of 3.3 percent to 3.7 percent, …

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US Qualcomm Q4 net income hikes 22% to USD1.06b

November 3, 2011

(MENAFN) Qualcomm Inc. said that during the fourth quarter, net income surged 22 percent to USD1.06 billion from USD865 million in 2010 due to higher demand for smartphones, reported AP. The …

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Greek Finance Minister against referendum now- source

November 3, 2011

(MENAFN – Saudi Press Agency) Greek Finance Minister Evangelos Venizelos opposes holding a referendum on the country’s euro zone bailout package, a finance ministry source said on Thursday, …

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US- Protests shut Oakland port, tensions flare in street

November 3, 2011

(MENAFN – Saudi Press Agency) Protesters shut down operations at Oakland’s busy port and blocked traffic on Wednesday in demonstrations against economic inequality and police brutality that turned …

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GBP/USD Classical Technical Report 11.03

November 3, 2011

GBP/USD: After stalling by the 200-Day SMA and a major double bottom objective over 1.6100, scope exists for a resumption of what we believe to be a broader downtrend. Look for a daily close back …

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USD/CHF Classical Technical Report 11.03

November 3, 2011

USD/CHF: The market has been in the process of a major correction since peaking out at 0.9315 on October 6. However, the overall outlook remains constructive, with the pair looking like it is in …

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AUD/USD Classical Technical Report 11.03

November 3, 2011

AUD/USD: Although it got very close, the market has successfully stalled out ahead of the previous September high to keep our core bearish outlook intact. We continue to look for the formation of …

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Technical Outlook for Major Currencies – November 3, 2011

November 3, 2011

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EUR/USD Classical Technical Report 11.03

November 3, 2011

EUR/USD: Last Thursday’s intense rally has now been completely offset and the market finally looks like it has carved out a fresh lower top by 1.4250 ahead of the next major downside …

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USD/JPY Classical Technical Report 11.03

November 3, 2011

USD/JPY:Monday’s surge has resulted in an end to a very tight multi-week trade largely confined to the 76.00’s and a likely shift in the overall construct, with the pair carving out a …

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News Corp Q1 net income down 5% to USD738m

November 3, 2011

(MENAFN) News Corp. said that due to the phone hacking scandal, the media conglomerate’s net income in the third quarter fell 5 percent to USD738 million compared with USD775 million in 2010, …

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US Kimco Realty Q3 net income jumps to USD40.1m

November 3, 2011

(MENAFN) Kimco Realty Corp. said that due to an increase in rental revenue, the shopping center owner’s net income grew to USD40.1 million in the third quarter from USD17.5 million in 2010, reported …

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Kraft Foods Q3 profit surges 22% to USD922m

November 3, 2011

(MENAFN) Kraft Foods’ Inc. CEO, Irene Rosenfeld, said that driven by higher prices, profit in the third quarter surged 22 percent to USD922 million compared with 2010′s USD754 million, reported …

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ECB cuts interest rates to 1.25%

November 3, 2011

(MENAFN) The European Central Bank made a surprising move cutting interest rates by a quarter point to 1.25 percent, Bloomberg reported. The step was taken despite inflation in the euro zone …

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Lenovo H1 profit surges to USD252m

November 3, 2011

(MENAFN) Lenovo Group said that due to higher sales in emerging markets, during the year’s first six months, profit almost doubled from USD131 million in 2010′s same period to USD252 million, …

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