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Scotland Risks Cyprus-Style Bank Crisis UK Report
An independent Scotland is at risk of a Cyprus-style banking crisis, as its banking sector would be "exceptionally large" compared to the size of its economy, a U.K. government report has said. "An independent Scotland would have an exceptionally large banking sector compared to the size of its economy - with banking assets of more than 1250 percent of Scottish [gross domestic ...
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Will Pinterest Ruin Your Wedding
There are certain things no one tells you when you start planning a wedding. No one mentions that much of the process - booking vendor appointments, e-mailing color swatches, creating complex Excel spreadsheets of guest lists, sending out piles of mail - is a lot like having a second job as a receptionist. No one tells you that the economics of buying a wedding dress are roughly the same as ...
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Senate committee moves toward vote on immigration
By ERICA WERNERAssociated Press WASHINGTON (AP) - The Senate Judiciary Committee is aiming this week to pass a landmark immigration bill to secure the border and offer citizenship to millions, setting up a high-stakes debate on the Senate floor. First, the committee must resolve a few remaining disputes. One involves amendments over high-skilled immigrant visas sought by the high-tech ...
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Kerry to Mideast to advance struggling Syria plan
View Photo Associated Press/Evan Vucci, Pool - FILE - In this April 21, 2013 file photo U.S. Secretary of State John Kerry speaks at a news conference in Istanbul, Turkey. Monday, May 20, 2013, Kerry heads back to ...
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S. Korea N. Korea fires 5th projectile into waters
North Korea has fired a short-range projectile into its own eastern waters -- for the fifth time in three days. Pyongyang regularly conducts short-range missile tests. Analysts say these recent launches appear to be weapons tests or an attempt to get U.S. and South Korean attention amid tentative signs of diplomacy after soaring tensions that followed U.N. sanctions aimed at a nuclear test ...
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Gunmen shoot into Calif. home 10-year-old killed
SAN FRANCISCO (AP) -- Authorities were searching for at least two gunmen who walked up to the door of a Northern California home and opened fire, killing a 10-year-old girl and injuring her parents. "Whoever these gunmen were, they were directly outside the front ...
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iShares fixed income fund hits €2bn
iShares has announced that investor demand for its iShares € Corporate Bond fund has surpassed €2bn in assets under management (AUM). The fund, a fixed income fund which provides exposure to Euro denominated investment grade corporate bonds, aims to track the Markit iBoxx Euro Liquid Corporates index, which has exposure to industries and a market capitalisation of over ...
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Dutch pension funds receive €4.9bn in dividends over 11 months
Between April 2007 and March 2008, Dutch pension funds are reported as having received €4.9bn in dividends on quoted shares, according to De Nederlandsche Bank. Pension fund holdings of these quoted shares averaged at €195bn in that period, which excluded quoted shares held through mutual funds. The Bank said that dividend income is used for two things, either as a major ...
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Borsa Italiana and London Stock Exchange leader in Europe for ETF trades
Aggregated figures show that July 2008 set a record in trading of Exchange Traded Funds (ETFs) on Borsa Italiana and London Stock Exchange markets, with 140,452 trades amounting to a highest ever total of €8.8bn (£7.0bn). The average daily value traded was €383.2 million, an increase of 141 per cent year on year, and the total amount traded was an increase of 152 per ...
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AEGON releases €315million in securitisation transaction
AEGON has completed a €315million securitisation transaction to improve capital efficiency and optimise their capital structure as part of the group’s new strategy. The transaction adds the equivalent of around £250million of core capital, enhancing the financial flexibility of the group and improving the return on capital deployed in the UK. The move forms part of ...
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Leading Dutch funds allocate €500m to clean technology
ABP and PGGM have re-inforced their commitment to sustainable investment with a joint mandate to invest in innovative, clean technology. The two largest pension funds in the Netherlands have appointed AlpInvest* to invest €500 million in innovative, clean technology in one of the largest mandates ever to be placed on the international private equity market. This is the first time ...
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Suicide bomber kills 8 at Afghan province council
KABUL, Afghanistan -; Afghan officials say a suicide bomber has struck outside a provincial council building in the country's north. A lawmaker says the council chief and at least seven others were ...
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5 dead 20 missing in China factory explosion
The official Xinhua News Agency said rescue work was continuing at the site of Monday morning's explosion in Shandong province's Caofan township. It said 34 people were inside the factory at the time of the blast, and only 14 of them have been found so ...
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Euro shares hit new five-year high as global optimism rises
20 May 2013 EUROPEAN shares extended gains to set a new five-year high for a fourth straight session this morning, with investors flocking to buy riskier assets such as equities on fresh signs of a recovery in the global ...
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Split-second choice ended with NY student dead
CORRECTS SPELLING OF LAST NAME -- In this photo copied from the 2010 Sleepy Hollow High School yearbook, high school student Andrea Rebello is shown. Police said Rebello, a junior at Hofstra University in Hempstead, N.Y., was shot and killed Friday, May 17, 2013, during a break-in near the college campus. (AP Photo/Sleepy Hollow High ...
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Euro zone week ahead
It looks like a week short of blockbusters, particularly today with much of Europe on holiday. But there will be plenty to chew over over the next few days on the state of the euro zone and whether newly-printed central bank money lapping round the world risks throwing things off kilter. Flash PMIs for the euro zone, Germany and France for May, plus the German Ifo index, follow first quarter GDP ...
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Market Buzz American consumerism drives Euro and Asian floors
Oil Positive US consumer data drove up European stocks, while Asian shares almost reached a five-year high and the yen made a marked comeback. Russian markets slightly eased Friday, after low crude prices took their toll on last week's equities. After dropping nearly 4 percent over the past week, the MICEX slightly recovered and gained 0.16 percent to 1404.04, a four-day high. The RTS ...
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Obamas approval rating survives scandal week
CNN's poll , conducted over May 17-18. According to their survey, Obama's approval rating is at 53 percent. While that's a two percent rise since early April, the difference is within the margin of error of the survey, so we'll say that the president's approval rating here remained steady. Forty-five percent of Americans, meanwhile, disapprove of the job the ...
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Conn. derailment to cause greatly slowed commute
View Photo Associated Press/The Connecticut Post,Brian A. Pounds - A derailed Metro-North rail car is hoisted back on to the tracks in Bridgeport. Conn. on Sunday, May 19, 2013. Crews will spend days rebuilding ...
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Central bank governor China always confident in euro
China welcomed European Union's agreement on the 109 billion euro bailout plan for Greece and has been confident of the stability of the euro zone and other member countries in the past, present or future, said Zhou Xiaochuan, governor of People's Bank of China on July 23 during an interview with Financial Times. Bailout plan helps bring financial stability After eight hours of ...
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Why This Week Could See Start of of Risk-Off
We have seen bouts of reality emerging in phases, which have subsequently been washed over by the relentless search for yield, Slovenia's bond issue last week being a classic example. However, the deteriorating economic and political triggers in Europe appear likely to cause a bout of serious risk-off, starting early this ...
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High Inflation a Permanent Fixture in the UK
Inflation in Britain will peak over the summer and remain well above 2 percent - the target set by the U.K's Chancellor - for the foreseeable future, Ernst & Young warned on Monday. A report by the company's economic forecasting group, the ITEM Club, said high inflation will remain a "permanent fixture" of the U.K. economy. "Base effects are likely to send consumer ...
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Powerful tornadoes ravage Plains
View Photo Associated Press/Sean Murphy - People survey damage from a tornado that hit Edmond, Okla., on Sunday, May 19, 2013. A powerful storm system rumbled through the Plains and upper Midwest on Sunday, spawning ...
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Banks at risk if Scotland becomes independent
A study by the UK Treasury into the economic implications of separation claimed that the country's banking system would collapse under pressure.Scottish banks would have assets worth 254pc of gross domestic product - that is higher ...
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United to restart 787 flights on Monday
United Airlines is getting its 787s back in the air. The planes are returning after being grounded for four months by the federal government because of smoldering batteries on 787s owned by other airlines. The incidents included an emergency landing of one plane, and a fire on another. The incidents never caused any serious injuries. But the January grounding embarrassed Boeing, which makes ...
Switzerland Featured
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Switzerland world's most competitive country
Switzerland is frequently pointed to as a model of good governance, prosperity, innovation and stability and is one of the happiest countries in the world. The recent competitive survey by the WEF underscored this, but came with a warning.
Switzerland truly is an impressive country, landlocked and small with no natural resources; it has developed into one of the richest countries in the world and was recently named the most competitive economy in the world. This is due in large part to its banking sector, which is one of the most advanced and its government structure, which is efficient in comparison to many other developed countries. Read more
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