UNITED KINGDOM

G7 to recover later this year, but a long haul

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The world's richest nations will put recession behind them later this year, but when growth returns it will be sluggish, according to Reuters polls that pose a challenge to the vigorous rally in world stock markets.
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UK may cap spectrum ownership for mobile telcos

Britain unveiled plans to cap ownership of the digital radio spectrum among mobile phone companies, aiming to settle a long-running dispute and fulfill the government's target of providing universal broadband.
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UK telcos face price-savvy consumers

British consumers are expected to cut back even further on their communications spend in the months ahead, a study found, adding additional pressure to telecoms who have already seen profits shrink.
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Vodafone to open network for applications store

Vodafone, the world's largest mobile operator by revenue, plans to launch a mobile online store to sell games, news and travel applications that its customers can buy on whatever model of phone they use.
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Global unemployment rises: OCED

The Organization for Economic Co-operation and Development (OECD) said Monday the unemployment rate for the OECD area rose to 7.6% in March, 0.3 percentage point higher than the previous month and 2.0 percentage points higher than a year earlier.
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Centrica goes nuclear with British Energy stake

French energy giant EDF (EDF.PA: Quote, Profile, Research, Stock Buzz) agreed to sell a stake in nuclear operator British Energy to Centrica (CNA.L: Quote, Profile, Research, Stock Buzz), striking a partnership with the gas group to build a new generation of nuclear power stations in the UK.
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Virgin sees space tourism as just the beginning

Long-haul trips could be made in spaceships instead of planes in 20 years' time if Virgin's efforts to commercialize space travel succeed, the president of Virgin Galactic told Reuters in an interview.
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Liberty Media oper profit falls as QVC sales drop

Liberty Media Corp (LINTA.O) posted a decline in operating income and revenue on Friday as sales at its QVC shopping channel plunged in the U.S. and Britain due to a difficult retail environment.
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Global survey finds European Muslims isolated

Muslims living in European countries feel far more isolated than those living in the United States, according to a survey on coexistence, with a lack of access to education and jobs reinforcing a sense of ostracism.
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ECB trims rates, edges to QE with bank bonds buy

The European Central Bank cut its main interest rate to a new record low on Thursday, and will buy up bonds for the first time in a bid to stem the euro zone's economic decline and shore up shaky markets.
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BoE leaves rates steady, increases QE program

The Bank of England left interest rates at a record low 0.5 percent for a second month running on Thursday and said it would increase the size of its asset purchase programme by 50 billion pounds.
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BoE increases QE program, leaves rates on hold

The Bank of England said on Thursday it would increase the size of its asset purchase program by 50 billion pounds to 125 billion pounds, and left interest rates at a record low 0.5 percent for a second month.
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Barclays profit up 15 percent on buoyant BarCap

British bank Barclays Plc said first-quarter profit rose 15 percent as strong growth at its investment banking arm made up for a big jump in bad debts as economies worsen, sending its shares to a seven-month high.
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Asia shares extend rally as bank fears ease

Asian shares extended their rally Thursday as encouraging signs about the health of U.S. banks and the global economy bolstered riskier assets such as oil and hurt safe-havens such as the yen.
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EU27 retail trade falls 0.3%, the euro area down by 0.6%

The volume of retail trade in March of the European Union’s 27 nation bloc (EU27) fell by 0.3% and the euro area (EA16) down by 0.6%. In February of this year, retail trade fell by 0.8% and 0.3% respectively, according to the European statistics.
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Daily Forex Commentary - 7 May

Australian Dollar: In what has been a tumultuous 24 hour period the Aussie dollar survived an Asian sell off yesterday to an intraday low of 0.7335 to bounce back in dramatic fashion during offshore trade.

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