UBS says IRS has 20 Swiss banks in its sights (AP)

March 12, 2010 by Yahoo! News: Business - European Economy  
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AP - Embattled UBS AG has warned that Switzerland's financial industry is at risk unless lawmakers approve a tax treaty with the United States, and that other Swiss banks may be next to face pressure from U.S. regulators.

Global oil demand seen higher in 2010 (AP)

March 12, 2010 by Yahoo! News: Business - European Economy  
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AP - World oil demand will rise this year due to surging economic activity in Asian countries, especially China, the International Energy Agency said Friday as it bumped up its forecasts.

Greece wallowed in recession before austerity cuts (AP)

March 12, 2010 by Yahoo! News: Business - European Economy  
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Striking municipal workers march with a coffin and wreaths in central Athens on March 10. German Finance Minister Wolfgang Schaeuble again voiced support on Friday for the idea of a European monetary fund (EMF) to help eurozone nations in crisis -- such as Greece -- but stressed that any aid would have to come with draconian penalties.(AFP/File/Louisa Gouliamaki)AP - Greece's economy was still shrinking and unemployment remained above 10 percent at the end of 2009, just before the government announced harsh spending cuts that are expected to drive the country deeper into recession, official data showed Friday.


BA cabin crew to strike for 7 days this month (AP)

March 12, 2010 by Yahoo! News: Business News  
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AP - British Airways PLC cabin crew plan to strike for a total of seven days this month, potentially disrupting thousands of travellers ahead of Easter holidays, after talks with management over changes to pay and working conditions broke down.

AP Source: Obama wants Yellen as Fed vice chair (AP)

March 12, 2010 by Yahoo! News: Business News  
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AP - President Barack Obama intends to nominate Janet Yellen, the president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of the Federal Reserve, a person familiar with the selection said Friday.

France’s Sarkozy in Britain for talks on economy (AFP)

March 12, 2010 by Yahoo! News: Business - European Economy  
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French President Nicolas Sarkozy (left) greets Britain's Prime minister Gordon Brown at the Elysee palace in Paris in 2009. Sarkozy visited Britain for talks with Brown on the European economy, and a potentially thorny encounter with the man after Brown's job.(AFP/File/Eric Feferberg)AFP - French President Nicolas Sarkozy visited Britain on Friday for talks with Prime Minister Gordon Brown on the European economy, and a potentially thorny encounter with the man after Brown's job.


‘IMF’ for Europe should carry high price: German minister (AFP)

March 12, 2010 by Yahoo! News: Business - European Economy  
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German Finance Minister Wolfgang Schaeuble pictured at the weekly cabinet meeting at the chancellory in Berlin on February 3. Schaeuble again voiced support on Friday for the idea of a European monetary fund (EMF) to help eurozone nations in crisis, but stressed that any aid would have to come with draconian penalties.(AFP/DDP/File/Michael Kappeler)AFP - German Finance Minister Wolfgang Schaeuble again voiced support on Friday for the idea of a European monetary fund (EMF) to help eurozone nations in crisis, but stressed that any aid would have to come with draconian penalties.


Stock futures trading higher ahead of open (AP)

March 12, 2010 by Yahoo! News: Stock Markets News  
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The Wall Street sign is seen in front of the New York Stock Exchange, October 8, 2009 file photo. REUTERS/Chip EastAP - Stock futures are trading higher as investors look to consumers for guidance on the economic recovery.


BA cabin crew to strike this month

March 12, 2010 by CNN.com - Business  
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Union members representing British Airways cabin crews announced Friday they will hold two separate strikes this month in a dispute over working conditions.

Brian Pitman, former Lloyds Bank CEO, dies at 78 (AP)

March 12, 2010 by Yahoo! News: Business - European Economy  
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AP - Sir Brian Pitman, the banker who led Lloyds TSB to become one of Europe's largest financial groups, has died at age 78, the British Bankers' Association said Friday.

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