Archive for the 'Business in Europe' Category

Russia’s Alfa Bank asks $400 million from state (AP)

AP - A bank belonging to one of Russia's biggest tycoons said Friday it is seeking $400 million in government loans to stave off foreign creditors. The move underlines the squeeze put on Moscow's overleveraged moguls by the financial crisis and the strings the Kremlin can put on bailing them out.

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Dollar mostly up, gold falls in Europe (AP)

AP - The U.S. dollar was mostly higher against other major currencies in European trading Friday. Gold fell.

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Ukraine currency stronger on stabilization moves (AP)

AP - Ukraine's central bank said Friday it had won a promise from several top commercial banks to help stabilize the national currency, which has lost over a quarter of its value in a severe financial crisis.

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France: EU should demand global financial reforms (AP)

AP - France asked the European Union on Friday to push the United States and other countries to commit to bold reforms of the financial system when they meet at a crisis summit next month.

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French companies mustn’t shift production abroad (AP)

AP - France's junior minister for employment said Friday a surveillance mechanism is to be put into place to make sure only companies in real financial difficulty shed jobs or move abroad.

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