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ECB’s Draghi ‘ready to act if needed’

ECB’s Draghi ‘ready to act if needed’ ECB president Mario Draghi: “The cut in interest rates should contribute to support prospects for a recovery later in the year” Continue reading the main story Related Stories Eurozone unemployment at record high Spain’s economy continues to shrink The European Central Bank (ECB) said it was “ready to act if needed”,... 

Facebook U-turn after charities criticise decapitation videos

By Leo Kelion Technology reporter Facebook has said it will delete videos of people being decapitated which had been spread on its site. “We will remove instances of these videos that are reported to us while we evaluate our policy and approach to this type of content,” it said. The announcement was made less than two hours after the BBC revealed a member of the firm’s own safety... 

Greece sells 33% of Opap to Emma Delta

Investment fund Emma Delta has successfully bought 33% of Greek gambling monopoly Opap in Greece’s first big privatisation. The much-delayed deal went through after the Greek-Czech fund, the sole bidder for the stake, raised its offer. Emma Delta’s initial bid of 622m euros ($812m; £526m) had been rejected by the authorities for being too low. Greek Finance Minister Yannis Stournaras... 

Monsoon rainfall seen average in 2013: Reddy

(Reuters) – India expects total monsoon rainfall to be average in 2013, a minister said on Friday, strengthening prospects for one of the world’s biggest grains producers to avoid widespread drought for a fourth straight year. India’s first official forecast confirms a call by global experts last week, and points to bumper grain supplies that would swell huge current stockpiles and... 

Harvard debt luminaries: We don’t like austerity as much as you think

(Reuters) – Two academics whose research became an intellectual touchstone for pro-austerity politicians want everyone to know they have been misunderstood. They actually don’t think harsh austerity is such a great idea for an ailing economy. In the political debate over debt since the financial crisis, no body of research has generated more howls of approval and disdain than that of Carmen... 

India says 27 firms underpaid tax in share transfers in last fiscal year

An exterior view of the Standard Chartered headquarters is seen in London August 7, 2012. REUTERS/Olivia Harris/Files REUTERS – India said 27 companies, including the local units of HSBC (HSBA.L), Standard Chartered (STAN.L) and Vodafone (VOD.L), underpaid taxes in the last fiscal year after they sold shares to their overseas arms too cheaply. Finance Minister P. Chidambaram named the companies... 

HSBC cuts gold, silver price forecasts for 2013, 2014

REUTERS – HSBC lowered its gold forecast for this year and next on Friday, saying the recent tumble in prices for the yellow metal has dealt a severe blow to investor confidence, which may take many months to restore. The bank cut its 2013 gold price forecast to $1,542 per ounce from $1,700 and the 2014 price outlook to $1,600 per ounce from $1,720. The bank, however, expects gold prices to stabilize... 

Boeing 787 Dreamliner returns to service in Ethiopia flight

An Ethiopian Airlines 787 Dreamliner has flown from Addis Ababa to Nairobi, the first commercial flight by the Boeing aircraft since all 787s were grounded in January. The 50 planes around the world were grounded due to battery malfunctions that saw one 787 catch fire in the US. Over the past week teams of Boeing engineers have been fitting new batteries to the aircraft. This was after aviation authorities... 

China agrees $8bn Airbus plane deal

China agrees $8bn Airbus plane deal
China has agreed to buy 60 planes from European firm Airbus, in a deal worth $8bn (£5.2bn) at list prices. It is the first such deal since the European Union suspended the inclusion of foreign airlines in its controversial Emissions Trading Scheme. China had voiced its opposition to the scheme, which charges airlines for the carbon they emit. Last year, Airbus had alleged that China blocked firms... 

Samsung Electronics profits boosted by smartphone sales

Samsung Electronics profits boosted by smartphone sales
Samsung Electronics profits boosted by smartphone sales Leisha Chi speaks to analyst Bryan Ma about why the firm is doing so well. Continue reading the main story Related Stories Apple reports rare fall in profits Eye-tracking Samsung Galaxy unveiled Samsung Galaxy S4: First impressions Samsung Electronics has posted a record quarterly profit, boosted mainly by growing sales of its smartphones. It... 

Boeing 787 Dreamliner set for return to service

An Ethiopian Airlines 787 Dreamliner is due to take off from Addis Ababa on Saturday morning, the first commercial flight by the Boeing aircraft since all 787s were grounded in January. The 50 planes around the world were grounded due to battery malfunctions that saw one 787 catch fire in the US. Over the past week teams of Boeing engineers have been fitting new batteries to the aircraft. This was... 
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