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Bank of Japan announces fresh stimulus to boost growth

The Bank of Japan (BOJ) has increased its stimulus programme for the second time in just over two months in a bid boost the country’s economic growth. The central bank said it would expand its purchase of Japanese government bonds

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Argentine senate set to approve YPF takeover

The 72 member house expected to support plans to re-nationalise the country’s biggest oil company. Argentina’s senate was set to approve the expropriation of the country’s biggest oil company on Wednesday, underscoring broad domestic support that has sparked outrage among

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UK data shows double-dip recession

Figures shows economy contracted by 0.2 per cent in first quarter of 2012, piling pressure on government. The UK economy has slid into its second recession since the world financial crisis first hit, with new official data indicating a fall in

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EU officials to propose 6.8% budget increase for 2013

Officials from the European Commission are due to outline proposals on Wednesday for a 6.8% rise in the EU’s budget for 2013. T–he proposals will be a starting point for negotiations with the EU’s 27 member states. Some EU members,

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Australian inflation slows giving rate cut hopes a lift

Australian inflation has slowed more quickly than expected, boosting optimism of a rate cut next month. Consumer prices rose by 0.1% in the first three months of the year compared with the previous quarter, the statistical office said. The annual

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Two major South Korean retailers halt sales of US beef

Two of South Korea’s biggest retailers have halted sales of US beef after the discovery of a case of “mad cow” disease in the US. Lotte Mart and Home Plus have temporarily suspended sales at their stores after a dairy

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Facebook sees slide in revenue ahead of IPO

First quarter net income falls frpm $233m to $205m from a year earlier, just weeks ahead of US company’s expected IPO Social networking giant Facebook has reported its first quarter-to-quarter revenue slide in at least two years, in a sign

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Dutch PM resigns after failed austerity talks

The Netherlands’ Queen Beatrix has reportedly accepted Mark Rutte and his cabinet’s resignation. Mark Rutte, Dutch prime minister, and his cabinet have offered their resignation to Queen Beatrix after the collapse of a parliamentary partnership with a far-right party. The Dutch government

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Life in Iran–on-nuclear families

IT WAS the first time in 15 months that Iranian envoys had met the five permanent members of the UN Security Council plus Germany. Their talks in Istanbul on April 14th were cordial, though the sole agreement was to carry

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Europe pressured to reform economy

IMF says that EU must cut debt burdens, make bold economic reforms and stabilise financial systems to restore growth. World powers have pressured Europe to take strong measures to fix its debt-heavy economy and restore growth to a level that

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Finland’s Nokia shaken by $1bn loss

Phone maker rings in 2012 with one of its worst ever quarters, citing tough competition and a rapidly evolving industry. Mobile phones maker Nokia has suffered a $1.2bn net loss in the first three months of the year, blaming tougher-than-expected

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Finland's Nokia shaken by $1bn loss

Phone maker rings in 2012 with one of its worst ever quarters, citing tough competition and a rapidly evolving industry. Mobile phones maker Nokia has suffered a $1.2bn net loss in the first three months of the year, blaming tougher-than-expected

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UK offers £10bn loan to the IMF

The IMF says it has received firm commitments of more than $430bn. The money is to help economies in trouble and includes just under £10bn ($15bn) from the UK in loans to the International Monetary Fund (IMF). It is part

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Nestle having ‘challenging’ 2012

The world’s biggest food group Nestle has reported rising sales but says it is having a “challenging year”. The Swiss company said its sales in the first three months of 2012 were 21.4bn Swiss francs ($23.4bn; £14.6bn), up 5.6% from

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Nestle having 'challenging' 2012

The world’s biggest food group Nestle has reported rising sales but says it is having a “challenging year”. The Swiss company said its sales in the first three months of 2012 were 21.4bn Swiss francs ($23.4bn; £14.6bn), up 5.6% from

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Microsoft quarterly profits beat expectations

Microsoft’s profits in the three months to the end of March dropped slightly but the results still beat analysts’ expectations after a surprise rise in sales of its Windows operating system. The world’s largest software firm made a net profit

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Germany’s Audi buys Italian motorcycle firm Ducati

Volkswagen’s Audi arm has bought Italian motorcycle firm Ducati for an undisclosed sum. The 20-member supervisory board of Europe’s largest carmaker agreed to add a 12th brand to its portfolio. The purchase will be completed when approval from the necessary

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Germany's Audi buys Italian motorcycle firm Ducati

Volkswagen’s Audi arm has bought Italian motorcycle firm Ducati for an undisclosed sum. The 20-member supervisory board of Europe’s largest carmaker agreed to add a 12th brand to its portfolio. The purchase will be completed when approval from the necessary

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How military spending has changed in the past decade

WORLDWIDE military spending was flat in 2011 compared with the year before, according to data released by the Stockholm International Peace Research Institute, a think-tank, but this masks some significant changes. America, Western Europe and Latin America, which between them make up

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Japanese exports rise as car shipments surge in March

Japan’s exports rose in March, boosted by a surge in shipments of cars as the sector continues to recover from last year’s natural disasters. Car exports rose 33.6% from a year earlier, with overall exports up by 5.9%, latest trade

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Coca-Cola sales boosted by emerging markets

Coca-Cola has reported higher quarterly sales thanks to strong growth in emerging markets. The US soft drinks giant announced a 6% rise in operating revenue to $11.14bn (£6.98bn) in the first three months of the year on the same period

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Goldman Sachs profits decline but beat expectations

US bank Goldman Sachs has said its profits fell 23% in its last quarter, but still beat analyst expectations. Net income fell to $2.1bn (£1.3bn) in the first three months of the year, from $2.7bn in the same period last

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US choice named World Bank chief

Selection of Korean-born Jim Yong Kim draws criticism from other candidates over alleged US dominance of powerful post. The World Bank has named a Korean-American medical doctor, Jim Yong Kim, as its next president, despite criticism of the selection process by his

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Argentina to seize control of oil company

Move to regain majority stake in YPF by ousting Spain’s Repsol prompts angry row between Buenos Aires and Madrid. Argentinian President Cristina Fernandez de Kirchner has unveiled plans to seize control of the country’s biggest oil company YPF, owned by Spain’s

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‘Ferrari of trains’ puts Italy on fast track

Privately-funded service set to offer luxurious high-speed travel between Milan and Naples. Ferrari president, Luca di Montezemolo, is an ambitious man. After all, he didn’t get to where he is now by sitting on his chair and sipping hot cocoa. A

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