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25 June 2010 1:17 AM | Tagged: risk takers business
21.30 BST: A tepid outlook for the global economy and a renewed focus on European sovereign debt provided little momentum for risk-takers as investors marked time ahead of the G20 meeting in Toronto this weekend.The FTSE All-World index was down 1.2 per cent, on track for its third losing session in a row.Commodities were mixed while the euro enjoyed some support as investors continued to shift o

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25 June 2010 1:17 AM | Tagged: almatis business
Dubai International Capital, a heavily-indebted investment arm of the emirate’s ruler, has dismissed speculation about a fire sale of assets by promising to keep its five majority-owned companies in Europe for at least two more years.In a letter to the senior managers of its portfolio companies, DIC said it had already spent $300m on supporting its troubled investments, such as the UK hotel chain

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25 June 2010 12:37 AM | Tagged: hussain khan business
A Pakistani judge on Thursday sentenced five US nationals, all Muslims, to 10 years each in prison for terrorism-related offences in a case that highlighted fears of home-grown militant violence and links between US and Pakistani terrorists.The five men, all from Virginia, were identified as Waqar Hussain Khan; Ahmed Minni; Ramy Zamzam; Aman Yemer; and Umar Farooq.They were arrested in December i

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25 June 2010 12:37 AM | Tagged: credit suisse business
Credit Suisse has made Eric Varvel the permanent chief executive of its investment banking division on Thursday, taking over from Paul Calello, who is to become chairman.Mr Varvel was appointed acting chief executive last September when it was revealed Mr Calello was being treated for cancer.

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24 June 2010 8:47 PM | Tagged: south african fans business
As Ghana’s players celebrated their passage into the knock-out stages of the World Cup, Sherylnn Chirindah’s eyes lit up.“It showed how much we have advanced and is a big boost for people, said the 28-year-old Zimbabwean, who is studying hotel management in Port Elizabeth.“I want the underdogs to lift up the trophy.It would be historical.

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24 June 2010 8:47 PM | Tagged: british american tobacco business
Paul Adams is to retire next year after seven years as chief executive of British American Tobacco and will be succeeded by Nicandro Durante, the group’s current chief operating officer.“This is the right time to make a change, both for me and for the company, said Mr Adams, who has worked at BAT since 1991 and made Lucky Strike, Dunhill, Kent and Pall Mall its so-called “Global Drive brands.

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24 June 2010 8:17 PM | Tagged: friends provident business
Resolution on Thursday announced that it had agreed to pay up to £2.75bn for the majority of the UK life assurance and savings arm of France’s Axa.The deal, which is to be mainly funded by a rights issue, is likely to lead to significant job losses as Resolution merges the acquired business with Friends Provident, which it bought for £1.9bn last year.

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24 June 2010 8:17 PM | Tagged: leadership challenge business
Australia has its first female prime minister after Julia Gillard toppled Kevin Rudd in a stunning leadership challenge early on Thursday morning.