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Eurozone unemployment hits new high

Unemployment in the crisis-stricken euro bloc rose to 12.2% for April, according to Eurostat, the statistics office of the EU. At 24.4%, youth unemployment was double the wider jobless rate and up from 24.3% in March. The problem was most extreme in Greece where almost two-thirds of those under-25 are ...

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Nationalised Bankia has now lost 99% of its stock exchange value since it was listed 22 months ago

Spain’s banking crisis wiped out billions of euros of family savings on Tuesday as small investors who bought shares in the nationalised Bankia were finally able to trade them – but at only a fifth of their original price. The wipeout on Madrid’s stock exchange means that Bankia, which was ...

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China opens Aussie dollar direct trading

Australian dollar is the third currency to trade directly with the renminbi, the latest step in the internationalisation of China’s currency

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CFTC is investigating potential manipulation of interest rate contracts

The US regulator has issued subpoenas related to the benchmark for swaps

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Bank of Japan 2% Inflation Goal Is Unrealistic

Pacific Investment Management Co.’s Bill Gross said the Bank of Japan’s goal to reach a 2 percent inflation target in two years using its record bond-buying program may be “unrealistic.

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Soros Joins Gross in Warning Kuroda Plan Risks Yen Rout

Billionaire investor George Soros and Bill Gross, who runs the world’s biggest bond fund, warned the Bank of Japan (8301)’s plan to end deflation risks creating a rout in the yen.

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FOREX-Yen hits one-month high as factory data dents dollar

The yen shot to a one-month high against the dollar on Tuesday after softer-than-expected U.S. manufacturing data prompted investors to sell the greenback. But further gains for the Japanese currency could be limited as investors wait to see what the Bank of Japan (BOJ) will deliver at its April 3-4 ...

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Russian gold/fx reserves rise to $522.4 bln

Russia’s gold and foreign exchange reserves rose to $522.4 billion in the week to March 22 from $520 billion a week earlier, central bank data showed on Thursday. The central bank provided the following figures (in billion dollars): Latest week 522.4 Previous week 520.0 End-2012 537.6 NOTE – The reserves ...

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Michael Dell Promises Employees That Big Changes Are Coming To The PC Business (DELL)

Michael Dell Promises Employees That Big Changes Are Coming To The PC Business (DELL) Michael Dell sent an email to employees today telling them why the company will be awesome after a private-equity buyout.

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At Least 12,000 Barrels Of Crude Oil Spill In Arkansas

On Friday, an Exxon Mobile pipeline ruptured in Mayflower, Arkansas, spewing thousands of gallons of crude being transported from Canada’s oil sands.

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