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Clinton backs microcredit pioneer Yunus in Bangladesh

US Secretary of State Hillary Clinton has publicly given her backing to microcredit pioneer Mohammed Yunus, urging Bangladesh not to undermine the independence of the Grameen Bank. Mr Yunus won the Nobel Peace Prize for setting up Grameen, which makes

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David Beckham tops UK and Irish sport rich list

David Beckham has topped a list of the richest people in sport in the UK and Ireland. The LA Galaxy footballer, 37, was in pole position with a fortune of £160m, according to the annual Sunday Times sport rich list.

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Greek governing parties ‘lose majority’ at polls

Greece’s two governing parties, which back tough austerity measures, have lost their parliamentary majority in Sunday’s election. With almost all votes counted, centre-right New Democracy is leading with 19%, down from 33.5% in 2009. Centre-left Pasok is in third place

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Greek governing parties 'lose majority' at polls

Greece’s two governing parties, which back tough austerity measures, have lost their parliamentary majority in Sunday’s election. With almost all votes counted, centre-right New Democracy is leading with 19%, down from 33.5% in 2009. Centre-left Pasok is in third place

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Indonesia to tax exports of raw minerals

Indonesia has said it will impose an average tax of 20% on exports of 14 raw minerals, including copper and gold, in a bid to encourage local processing. It said it would also prohibit miners from exporting these raw minerals

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Samsung Galaxy S3 smartphone unveiled

Samsung has unveiled its latest flagship smartphone – the Galaxy S3. The handset has a 4.8 inch (12.2cm) screen, an increase on the 4.3 inch screen of its predecessor. The device is perceived to be critical to how people view

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Greek socialist leader Venizelos warns of ‘mass poverty’

The leader of Greece’s Pasok party Evangelos Venizelos has said Greece faces a choice between austerity and “mass poverty” in elections on Sunday. “On Sunday, our people’s fate is at stake,” Mr Venizelos told the closing rally of his campaign

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Greek socialist leader Venizelos warns of 'mass poverty'

The leader of Greece’s Pasok party Evangelos Venizelos has said Greece faces a choice between austerity and “mass poverty” in elections on Sunday. “On Sunday, our people’s fate is at stake,” Mr Venizelos told the closing rally of his campaign

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Facebook pushes record-breaking IPO

Social networking site Facebook is tipped to be worth as much as $95bn as it goes public. The world’s largest online social network has more than 900 million users [EPA] Facebook, the company that turned the social Web into a cultural

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Third brother arrested in Hong Kong corruption probe

A third member of Hong Kong’s billionaire Kwok family has been arrested as part of a high-profile corruption investigation in the city. Sun Hung Kai Properties said that Walter Kwok had been arrested by Hong Kong’s Independent Commission Against Corruption

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Eurozone private sector ‘contracts sharply’

The eurozone’s private sector contracted sharply in April and by more than initially thought, a survey says. The Markit eurozone composite purchasing managers’ index (PMI) fell to 46.7 in April from March’s 49.2. Any figure below 50 suggests contraction. This

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Eurozone private sector 'contracts sharply'

The eurozone’s private sector contracted sharply in April and by more than initially thought, a survey says. The Markit eurozone composite purchasing managers’ index (PMI) fell to 46.7 in April from March’s 49.2. Any figure below 50 suggests contraction. This

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Eurozone jobless rate hits record high

Unemployment in the eurozone reached a record high again in March as spending cuts continued to hit the working population. For all 17 nations in the Eurozone, the jobless rate rose again to 10.9%, the highest since the euro was

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Workers around the world mark May Day

Tens of thousands of people take to the streets across the globe, protesting against job cuts and austerity measures. Tens of thousands of people have descended on streets across the world to mark International Workers’ Day. Colourful protests organised by

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Geithner: U.S. can withstand any Europe stresses

U.S. Treasury Secretary Timothy Geithner said on Friday that if Europe mismanages its crisis it could slow U.S. growth but said the U.S. financial system could handle any resulting pressures. “The U.S. financial system is in a very strong position

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U.S. small business hiring takes step back in April

U.S. small business hiring slowed considerably in the April and employees saw a reduction in their hours, an independent survey showed on Monday, adding to signs of weakening in labor market conditions. Businesses added 40,000 new jobs, a step back from the

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China Eastern Airlines says to buy 20 Boeing aircraft

China Eastern Airlines Corp Ltd (0670.HK) said on Monday it has agreed to buy 20 new Boeing B777-300ER aircraft from Boeing Co (BA.N), valued at $5.94 billion based on the 2011 price catalog. In a filing to the Hong Kong bourse,

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China ‘offers South Sudan $8bn for projects’

Beijing to supply development funds for projects such as hydropower and roads, South Sudan information minister says. China has offered South Sudan $8bn in development funds for road, hydropower, infrastructure and agriculture projects, South Sudan’s information minister has said. The loan came after

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China 'offers South Sudan $8bn for projects'

Beijing to supply development funds for projects such as hydropower and roads, South Sudan information minister says. China has offered South Sudan $8bn in development funds for road, hydropower, infrastructure and agriculture projects, South Sudan’s information minister has said. The loan came after

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Samsung overtakes Nokia in mobile phone shipments

Samsung Electronics has overtaken Nokia to become the world’s largest maker of mobile phones, according to research firm Strategy Analytics. Nokia took the top spot in 1998 from Motorola, but in the first quarter of 2012 Samsung shipped 93m phones

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KFC must pay $8.3m to poisoned girl in Australia

Fast-food giant KFC has been ordered to pay $8.3m (£5.1m) to the family of an Australian girl left severely brain damaged after being poisoned by a chicken meal. Monika Samaan fell ill with salmonella poisoning after eating a “Twister” wrap

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Growth in the US economy falls back in first quarter

US economic growth slowed to an annualised pace of 2.2% in the first quarter of the year, from 3% in the final three months of last year. The figure was below economists’ estimates of 2.5% and is equivalent to quarter-on-quarter growth

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Honda profit recovers from floods

Japan’s Honda Motor has reported a 61% jump in first quarter profits, as car and motorcycle sales recovered from a year of disasters. Net income for the January to March period was 71.5bn yen ($883m; £547m) up from 44.5bn yen

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Spain unemployment hits record high

Government announces jobless rate of 24.4 per cent in first quarter, as country’s debt rating is cut by two notches. New figures show that Spanish unemployment has hit record levels, with nearly one quarter of the labour force unable to find

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Should job-hogging over-50s all resign?

Too few jobs. Rising unemployment, especially for young people. Here’s a radical solution, says commentator on office and workplace life, Lucy Kellaway of the Financial Times (born 1959). Wasting time on the internet recently I came upon a nasty statistic.

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