Northern Rock loses US$1b
Nationalised British bank Northern Rock on Tuesday reported a net loss of £592 million (US$1.2 billion) in the first half of the year, as mortgage customers failed to make timely repayments. Last year, the then-publicly listed company made a profit in the January to June period ...
ArcelorMittal to build Mexico mill, buy US plant
ArcelorMittal SA, the world's largest steelmaker, said Monday it would build a US$600 million steel mill in Mexico and buy a coking coal plant in the United States.The company said it was still looking at potential sites for the Mexico mill, which will...
Fed leaves funds rate unchanged at two per cent
United States Federal Reserve, confronted with the perils of a slumping US economy and rising inflation, has decided, for a second straight meeting, to leave interest rates unchanged. The Fed announced Tuesday that it was keeping its target for the federal funds ...
Canadian dollar falls to lowest level in a year
The Canadian dollar has dropped to its lowest level against the US dollar in almost a year due to falling oil and other commodity prices.The Canadian dollar slipped 1.3 US cents to 96.02 US cents in Tuesday morning trading, as oil plummeted as low as...
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