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    A pedestrian passes a branch of Argos in central London

    LONDON (Reuters) - The newly appointed managing director of Argos, the catalogue and store chain, said he has been given a free rein to examine all options for the struggling business, including closing some of its 750 shops. John Walden, a 52-year-old American who started … More »New Argos boss has free rein for change

    Technicians work at pumping out 2,380 tons of fuel from the stricken cruise liner Costa Concordia on January 26

    Three executives from Europe's biggest cruise ship operator were named Wednesday in a … More »Managers investigated in Italian shipwreck …

    People walk past a Royal Bank of Scotland (RBS) building in the City of London

    LONDON (Reuters) - State-owned Royal Bank of Scotland paid out nearly a billion pounds … More »RBS says pay row "damaging" as losses …

    • The North Africa initiative is being driven primarily by the French government
      EU opens door to 'debt relief' for north … Roddy Thomson - AFP - 9 hours ago

      European governments have opened the way for a radical offer of "debt relief" for Arab north African and Middle Eastern neighbours, EU and governmental sources told  … More »EU opens door to 'debt relief' for north …

      The North Africa initiative is being driven primarily by the French government

      European governments have opened the way for a radical offer of "debt relief" for Arab north African and Middle Eastern neighbours, EU and governmental sources told AFP.

    • Edinburgh Woollen Mill buys most of … Reuters - 16 hours ago

      LONDON (Reuters) - Clothing retailer Edinburgh Woollen Mill is to acquire two thirds of discount clothing retailer Peacocks stores, in a deal which will see 6,000 jobs … More »Edinburgh Woollen Mill buys most of …

      LONDON (Reuters) - Clothing retailer Edinburgh Woollen Mill is to acquire two thirds of discount clothing retailer Peacocks stores, in a deal which will see 6,000 jobs saved, Peacocks' administrators KPMG said on Wednesday. The administrators said in a statement that Edinburgh Woollen Mill agreed to buy 388 stores from …

    • IMF chief Christine Lagarde is preparing to propose a new financing deal for Greece
      IMF participation in Greek rescue ' … AFP - AFP - 11 hours ago

      An International Monetary Fund official said the Fund's participation in the second Greek bailout is essential to make it work. More »IMF participation in Greek rescue ' …

      IMF chief Christine Lagarde is preparing to propose a new financing deal for Greece

      An International Monetary Fund official said the Fund's participation in the second Greek bailout is essential to make it work.

    • A page from the PayPal website is seen in Singapore
      PayPal gets new rival in offline payments … Alistair Barr - Reuters - 6 hours ago

      SAN FRANCISCO (Reuters) - PayPal, the online payments company owned by eBay Inc, just got a new rival in the race to develop a mobile payment service that can be used … More »PayPal gets new rival in offline payments …

      A page from the PayPal website is seen in Singapore

      SAN FRANCISCO (Reuters) - PayPal, the online payments company owned by eBay Inc, just got a new rival in the race to develop a mobile payment service that can be used in physical stores. Boku Inc, a big online mobile payments company backed by venture capital firms including Andreessen Horowitz and Benchmark Capital, unveiled …

    • Entrance of the German Commerzbank headquarters is pictured in Frankfurt
      Europe's banks bleed from Greek debt … Steve Slater and Lionel Laurent - Reuters - 1 hour 4 minutes ago

      LONDON/PARIS (Reuters) - Greece's debt problems drove a slew of heavy losses across the European banking sector on Thursday, and bosses warned the euro zone crisis would … More »Europe's banks bleed from Greek debt …

      Entrance of the German Commerzbank headquarters is pictured in Frankfurt

      LONDON/PARIS (Reuters) - Greece's debt problems drove a slew of heavy losses across the European banking sector on Thursday, and bosses warned the euro zone crisis would continue to threaten earnings. From France to Germany, Britain to Belgium, some of the region's biggest banks lined up to reveal billions of euros lost …

    • A man walks past the entrance of the Credit Agricole Bank building in Geneva
      Credit Agricole posts record 3 billion … Lionel Laurent and Matthieu Protard - Reuters - 4 hours ago

      PARIS (Reuters) - French bank Credit Agricole posted a record 3.07 billion euro (2.58 billion pound) quarterly net loss on Thursday, performing worse than expected due … More »Credit Agricole posts record 3 billion …

      A man walks past the entrance of the Credit Agricole Bank building in Geneva

      PARIS (Reuters) - French bank Credit Agricole posted a record 3.07 billion euro (2.58 billion pound) quarterly net loss on Thursday, performing worse than expected due to the cost of shrinking its balance sheet and losses on Greek debt. The semi-cooperative bank, which is under new management and trying to return to its …

    • Traders talk in front of a screen showing an index at Madrid's Bourse
      Euro zone's economy to shrink in 2012, … Robin Emmott and Julien Toyer - Reuters - 1 hour 50 minutes ago

      BRUSSELS (Reuters) - The euro zone economy is heading into its second recession in just three years and the wider European Union will stagnate, the EU's executive said … More »Euro zone's economy to shrink in 2012, …

      Traders talk in front of a screen showing an index at Madrid's Bourse

      BRUSSELS (Reuters) - The euro zone economy is heading into its second recession in just three years and the wider European Union will stagnate, the EU's executive said on Thursday, warning that the currency area has yet to break its vicious cycle of debt. The European Commission forecast that economic output in the 17 nations …

    • Osborne welcomes cut in RBS bonuses Reuters - 1 hour 5 minutes ago

      LONDON (Reuters) - Chancellor George Osborne said he supported steps by the state-owned Royal Bank of Scotland to cut bonus payouts for its staff in its investment banking … More »Osborne welcomes cut in RBS bonuses

      LONDON (Reuters) - Chancellor George Osborne said he supported steps by the state-owned Royal Bank of Scotland to cut bonus payouts for its staff in its investment banking arm, and praised managers for helping to turn round the bank's fortunes. RBS, 82 percent owned by the government after a state bailout during the 2008 …

    • An investor gestures as he talks to a person in front of an electrical board showing stock information at a brokerage house in Huaibei
      Markets ease as focus moves to growth, … Chikako Mogi - Reuters - 6 hours ago

      TOKYO (Reuters) - Asian shares and the euro fell on Thursday on concerns about global growth driven by higher oil prices and data showing the euro zone may slip into … More »Markets ease as focus moves to growth, …

      An investor gestures as he talks to a person in front of an electrical board showing stock information at a brokerage house in Huaibei

      TOKYO (Reuters) - Asian shares and the euro fell on Thursday on concerns about global growth driven by higher oil prices and data showing the euro zone may slip into recession, fanning fresh worries about Greece's debt restructuring challenges. MSCI's broadest index of Asia Pacific shares outside Japan slid 0.6 percent, …

    • Updated EU data predicts a 0.3-percent contraction in GDP throughout 2012
      Double-dip recession setting in across … Roddy Thomson - AFP - 2 hours 2 minutes ago

      The debt crisis will drag the eurozone into a long-warned double-dip recession this year, pulling down most neighbouring non-euro economies in its wake, the EU said  … More »Double-dip recession setting in across …

      Updated EU data predicts a 0.3-percent contraction in GDP throughout 2012

      The debt crisis will drag the eurozone into a long-warned double-dip recession this year, pulling down most neighbouring non-euro economies in its wake, the EU said Thursday.

    • Baggage handlers unload luggage from EasyJet Airbus aircraft at Ljubljana's airport Brnik
      EasyJet investors vote in favour of … Rhys Jones - Reuters - 1 hour 35 minutes ago

      LONDON (Reuters) - EasyJet Plc's shareholders voted overwhelmingly in favour of a motion to award its top executives a multi-million pound pay package, dealing a blow … More »EasyJet investors vote in favour of …

      Baggage handlers unload luggage from EasyJet Airbus aircraft at Ljubljana's airport Brnik

      LONDON (Reuters) - EasyJet Plc's shareholders voted overwhelmingly in favour of a motion to award its top executives a multi-million pound pay package, dealing a blow to the airline's founder and largest shareholder Stelios Haji-Ioannou who opposed the pay deal. At its annual shareholder meeting on Thursday some 97 percent …

    • A HSBC logo is seen on the Private Bank Building in Geneva
      HSBC pulls out of retail banking in … Reuters - 8 hours ago

      TOKYO (Reuters) - HSBC on Thursday said it will pull out of the retail banking business in Japan, including the HSBC Premier service meant for clients who hold more than … More »HSBC pulls out of retail banking in …

      A HSBC logo is seen on the Private Bank Building in Geneva

      TOKYO (Reuters) - HSBC on Thursday said it will pull out of the retail banking business in Japan, including the HSBC Premier service meant for clients who hold more than 10 million yen (79,405.57 pound) in financial assets. The latest move by Europe's biggest bank follows its retreat from Japan's top-tier private banking …

    • Net profits for the fourth quarter alone came to $983 million
      Swiss Re net profits up sharply to  … AFP - AFP - 6 hours ago

      Reinsurance giant Swiss Re shrugged off natural disasters to report net profits of $2.6 billion for 2011 on Thursday, up sharply from the $863 million recorded the previous … More »Swiss Re net profits up sharply to  …

      Net profits for the fourth quarter alone came to $983 million

      Reinsurance giant Swiss Re shrugged off natural disasters to report net profits of $2.6 billion for 2011 on Thursday, up sharply from the $863 million recorded the previous year and higher than analysts had expected.

    • China is the world's largest producer of rare earths
      China to boost use of rare earths in … AFP - AFP - 4 hours ago

      China has called for greater use of rare earths for its own domestic manufacturing, as Beijing seeks to limit exports of the sought-after resources vital for everything … More »China to boost use of rare earths in …

      China is the world's largest producer of rare earths

      China has called for greater use of rare earths for its own domestic manufacturing, as Beijing seeks to limit exports of the sought-after resources vital for everything from iPods to missiles.

    • Financial data and news headlines stream accross ticker screens around the atrium of the London Stock Exchange
      FTSE rises as earnings, balance sheets … Toni Vorobyova - Reuters - 1 hour 31 minutes ago

      LONDON (Reuters) - The leading share index pushed higher on Thursday, with investors cheering shoots of improvement in bluechip earnings and balance sheets, as well as … More »FTSE rises as earnings, balance sheets …

      Financial data and news headlines stream accross ticker screens around the atrium of the London Stock Exchange

      LONDON (Reuters) - The leading share index pushed higher on Thursday, with investors cheering shoots of improvement in bluechip earnings and balance sheets, as well as in European economic growth. Banking stocks led the rally after Royal Bank of Scotland reported an in-line loss, reassuring investors used to bad news from …

     
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