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Economy - International

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apnews.myway.com

LONDON (AP) - Oil prices fell below $70 a barrel Wednesday as investors shrugged off a looming OPEC production cut after company forecasts suggested the U.S. may be headed for a severe economic slowdown that would crimp demand for crude.

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BBC

"It's not possible for the eurozone to continue without clearly identified economic governance," he told the European Parliament on Tuesday. The leaders of the 15-nation eurozone should coordinate their actions with the European Central

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Michael Shedlock / Mish

In response to the Credit crisis president Bush is gathering up all the people who did not see what was coming, denied what was happening, and then failed to see the implications of what was indeed happening.

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Only a few months were needed to create large emergent data networks and escape from any centralized commercial control, as well as from any physical frontier. Some people see in this, one of the next steps to freedom and democracy.

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Telegraph

(While were bombing and sending troops, the Chi-Coms are holding out a helping hand) China is to strengthen its influence over Pakistan by using its enormous financial reserves to help the country stave off bankruptcy. Beijing, which has already

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NakedCapitalism.com

Tatyana Sadovskaya, on Wednesday told Interfax news agency that in response to rumours of her bank’s insolvency: “People have formed long lines at cashiers and at bankomats, people are taking their deposits and closing their accounts.”

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Peter Schiff - Washington Post

Just as prices in a free market are set by supply and demand, financial and real estate markets are governed by the opposing tension between greed and fear. Our leaders irrationally promoted home-buying, discouraged savings, and recklessly...

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AFP

LONDON (AFP) — Oil prices slumped further on Thursday, with Brent crude briefly sliding close to 67 dollars a barrel and the lowest level for more than 15 months, as slowing energy demand took its toll, traders said.

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Washington Post

"The idea that this could happen in Switzerland is unbelievable," said Klaus Stoeckli, 55, a food-products salesman who has withdrawn about $90,000 in investments from UBS, worried that its storied vaults might not be able to protect his mo

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London Times

The Chancellor will take control of the Royal Bank of Scotland today by injecting £20 billion of taxpayers' money. The Government is also to take over HBOS in the most dramatic extension of state ownership in the British economy since the war.

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The Independent

The market is worth more than $516 trillion, roughly 10 times the value of the entire world's output: it's been called the "ticking time-bomb". It's a market that is set to come to a crashing halt – the Great Unwind has begun.

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Bloomberg

Asian stocks rose, rebounding from the worst week since at least 1987, after Australia guaranteed bank deposits and European leaders agreed to support lenders in a global effort to end the credit crisis. U.S. index futures gained.

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WSJ.com

German Chancellor Angela Merkel heads to Paris to present Sunday to her colleagues from the euro zone a financial sector bailout plan for Germany that's expected to be more than half the size of what has been enacted in the U.S.

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