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Nasdaq may consider bidding for Euronext

Nasdaq OMX Group would definitely consider bidding for Euronext, the operator of the Paris, Amsterdam, Brussels and Lisbon stock exchanges, if it were put up for sale, Nasdaq’s Chief Executive, Mr....

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Swiss bank battles against culture of arrogance

Switzerland’s UBS has yet to purge itself fully of the culture of arrogance that put it at the centre of a global interest rate scandal, its investment banking chief said on Wednesday. Reuters reported...

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Morgan Stanley to cut 6% workforce

Morgan Stanley plans to cut six per cent of its institutional securities workers starting this week. Two people familiar with the matter said on Wednesday that the latest sign of a pullback on Wall...

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SKMigas to become permanent

Indonesia is set to make temporary oil and gas regulator SKMigas permanent, but Energy and Mineral Resources Minister, Jero Wacik, will be replaced as the head of the unit. Local media reported that...

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Business leaders caution Cameron against ‘risking’ EU membership

LONDON: Ten of the United Kingdom’s leading business figures have warned David Cameron not to put membership of the European Union “at risk” in negotiations over the country’s relationship with...

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Hess tightens budget belt

United States independent Hess intends to cut overall expenditure by 18 per cent this year while maintaining a strong investment focus on unconventional shale plays. The company plans to pump $6.8bn...

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Domestic workers need greater protection — ILO

NEW YORK: Laws are needed “urgently” to give greater protection to domestic workers, the International Labour Organisation has said, British Broadcasting Corporation reported on Wednesday. It estimates...

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Ticket sales: Insurer gives travel agents fresh condition

The inability of travel agencies to promptly remit proceeds of air ticket sales to foreign airlines has forced their insurance firm, Leadway Assurance Company Limited, to set fresh hurdles before the...

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Another mega-casino to be built in Macau

HONG KONG: MGM China won approval Wednesday to build a major new casino in Macau, a glitzy destination that attracts legions of gamblers from China. The project has a budget of around $2.5 billion, and...

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Market rally ends as index falls by 0.4%

The bullish run, which had persisted in the equities section of the Nigerian Stock Exchange for four consecutive trading days, came to an end on Wednesday with major indicators losing marginally. The...

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Govt urged to embrace bond issuance for projects

Governments at all levels have been urged to embrace issuance of bonds for major projects across states and the general economy. According to operators in the Nigerian capital market, the move will...

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Chevron’s Agbami 2 may not start production in 2014

Oil production from the 100,000-barrel per day Agabmi Phase 2 deepwater oil field developed by Chevron Nigeria Limited may not start in 2014, which was initially set as the commencement date....

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Iceland: Supermarket records 5% Christmas sales boost

Flintshire-based supermarket chain Iceland said it saw sales in the run-up to Christmas rise by five per cent, British Broadcasting Corporation reported on Wednesday. The latest statement from the...

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Bail-out: Airlines seek involvement in aircraft acquisition

Domestic airlines in the country have canvassed their full involvement in the plan by the Federal Government to acquire 30 aircraft for local operators. The Ministry of Aviation had said the government...

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Emerging stocks rise on forecasts

Emerging-market stocks rose for the first time in four days as utilities rebounded and Alcoa Incorporated predicted stronger demand in the biggest developing nations. Bloomberg News reported on...

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Phillips 66 inks $1bn Bakken rail deal

Phillips 66 has signed a five-year commitment to ship North Dakotan crude oil by rail to its New Jersey refinery, making an estimated $1bn bet that North American crude will remain cheap. Under the...

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QEP down on midstream MLP plan

Denver-based QEP Resources saw its shares slump after announcing plans to spin off portions of its midstream assets into a master-limited partnership and launch an initial public offering for the new...

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Pacific Rubiales targets 30% growth in 2013

Canada’s Pacific Rubiales has targeted 15 per cent to 30 per cent growth in production in the coming year, although it also warned approval delays in Colombia would likely continue to dog its...

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Emerald Oil in $10m Sand Wash sale

Denver’s Emerald Oil has said it has agreed to sell its stakes in 30,902 net mineral acres in the Sand Wash basin to an undisclosed private explorer for $10m. The acreage is located in Carbon County,...

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Petrobras extends Vallourec deal

Petrobras has renewed a long-term main frame agreement with French tube specialist Vallourec for the provision of pipe products for the Brazilian oil giant’s offshore exploration and production wells....

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