Europe
  • ATHENS, Greece (AP) — Greek authorities are to auction €3.125 billion ($3.83 billion) in short-term debt to help pay off a €3.2 billion bond repayment due on Aug.20.

    The country's Public Debt Management Agency announced Friday that the auction for 13-week T-bills would be held on Aug. 14. The decision allows Greece to avoid having to seek emergency funding on top of the bailout loans it receives from the Europe and International Monetary Fund.

    The €3.2 billion ($3.93 billion) bond that matures Aug. 20 is held by the European Central Bank.

    LAST UPDATE : Aug 21, 2012, 12:17 PM EDT
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  • Spanish police say they have arrested five left-wing union activists for their alleged role in a "Robin Hood"-style looting of a supermarket made to highlight the plight of people suffering through the country's recession.

    LAST UPDATE : Aug 21, 2012, 12:17 PM EDT
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  • Norway's vast oil fund saw a decline of 2.2% in the second quarter, losing 77 billion kroner ($13 billion) in the period, mainly because of investors' concerns over the global economy.

    LAST UPDATE : Aug 21, 2012, 12:17 PM EDT
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  • Libor benchmark interest ratesare no longer "fit for purpose" and must be changed or replaced, Britain's regulator said on Friday.

    LAST UPDATE : Aug 21, 2012, 12:17 PM EDT
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  • The Swiss-based food mutlinational says net profit rose 8.9% to SFr5.1B for the first half of 2012, led by emerging markets.

    LAST UPDATE : Aug 21, 2012, 9:19 AM EDT
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  • The world could face a food crisis of the kind seen in 2007/08 if countries restrict exports on concerns about a drought-fuelled grain price rally, the UN's food agency warned on Thursday, after reporting a surge in global food prices in July.

    LAST UPDATE : Aug 21, 2012, 9:19 AM EDT
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  • LONDON (AP) — It's been a tense summer in the City of London as one bank after another has faced allegations of massive misbehavior.

    Bankers in the British capital, which has for centuries been a center for global business, fear its reputation has been tarnished indelibly and that a heavy-handed regulatory crackdown is looming.

    LAST UPDATE : Aug 21, 2012, 4:21 AM EDT
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  • Britain's economy will stagnate this year, the Bank of England has forecast, raising expectations that more stimulus measures will be needed.

    LAST UPDATE : Aug 21, 2012, 4:21 AM EDT
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  • This photo taken on June 23, 2012 shows mining work at the open pit section of the Oyu Tolgoi gold and copper mine which is operated by Rio Tinto and Ivanhoe Mines and is due to begin large scale production due next year in south east Mongolia.  Mongolia, a former Soviet satellite state, has struggled to develop a sustainable economy since turning to capitalism two decades ago but its rich deposits of copper, gold, uranium, silver and even oil have caught the eye of foreign investors. Mining now accounts fo

    Global miner Rio Tinto stuck to its $16 billion spending plans, despite first-half profit falling by a third, predicting a modest picku pin the Chinese economy later this year that should stimulate demand for iron ore.

    LAST UPDATE : Aug 21, 2012, 4:21 AM EDT
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