Archive for November 6th, 2008

FTSE 100 down 168.96 at 4,361.77 (AP)

AP - Share prices on the London Stock Exchange were lower at midday Thursday.

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Britons registered 23 pct fewer new cars in Oct. (AP)

AP - Britons registered 23 percent fewer new cars this October than they did in the same month last year as the economic downturn discouraged people from buying new cars, Britain's car manufacturing society said Thursday.

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BoE slashes interest rates to 3 percent (AP)

AP - The Bank of England slashed its benchmark interest rate by 1.5 percentage points on Thursday, a bold cut that far exceeded economists' expectations and reflected fears that Britain is headed for a prolonged, deep recession.

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Czech central banks cut key rate to 2.75 percent (AP)

AP - The Czech Republic's central bank said Thursday it had slashed its key interest rate by three-quarter percentage point to 2.75 percent. The move comes as the Czech economy is slowing down as a result of the world's financial turmoil.

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Hungary to give banks $3 billion capital boost (AP)

AP - Hungarian financial authorities say they are ready to provide local banks up to 600 billion forints ($3 billion, 2.3 billion euros) to boost banks capital and help them refinance debts.

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  • Economic gloom mounts ahead of finance crisis summit (AFP)