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FX Summary - Dec 20

The dollar continued to firm against the sterling following weak UK economic data, rising to its highest level in 4-months at 1.9813. However, the greenback was slightly softer against the yen and euro following the weak Philadelphia Fed survey.

Three British residents from Guantanamo land in UK

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Three British residents held at the Guantanamo Bay prison camp for suspected terrorists arrived in Britain on Wednesday after more than four years in captivity and two were promptly arrested, police said.

Bank of England lends £10bn to ease credit woes

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In a bid to ease the effects of the credit crunch and high borrowing costs, the Bank of England has lent £10 billion to financial institutions and banks. Different borrowers bid for the cash in an auction.Those who bid at the minimum rate of 5.36% received 75% of the amount they requested. The total amount of money bid was £850 million over the £10 billion promised by the Bank.The average i...
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EU executive receives complaint over gadgets levy

The European Commission has received a complaint that a disputed levy on electronic gadgets to compensate for private copying of music distorts the EU's internal market, a top official at the bloc's executive said.
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EU-U.S. climate impasse easing

Europe toned down a clash with the United States over 2020 climate goals on the final day of U.N. talks in Bali on Friday, raising hopes of a deal to start negotiations on a new global warming treaty.
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Microsoft Buys U.K. Mapping Company

Microsoft Corp said Wednesday it has acquired Multimap, one of Britain's top online mapping companies, for an undisclosed sum in attempt to offer better targeted advertising.
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World off track on goal of school for all children

Close to one billion people will never receive a formal education because governments around the world are not living up to pledges to provide free primary schooling for all by 2015, aid groups said on Wednesday.
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BHP Billiton says Rio proposal still compelling

BHP Billiton Plc/Ltd said on Wednesday it was considering possible next moves in its attempt to open takeover talks with rival mining house Rio Tinto, which has so far rebuffed its overtures.
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Lloyds TSB profits on track, takes $405 mln hit

Lloyds TSB said its underlying profits are on track to grow 11 percent this year but the British bank will take a 200 million pound ($405 million) hit from exposure to credit market problems.
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Blackstone plans bid for Rio with Chinese: report

Investment group Blackstone is planning a counterbid for Rio Tinto Ltd/Plc with a consortium believed to include China's sovereign wealth fund, Britain's Daily Telegraph newspaper said on Monday.
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Inflation Keeps Heat on Central Banks

Another U.S. Federal Reserve interest rate cut this week is a foregone conclusion as far as financial markets are concerned, but a heaping helping of global inflation data may leave a sour aftertaste. foregone conclusion as far as financial markets are concerned, but a heaping helping of global inflation data may leave a sour aftertaste. The Fed is widely expected to follow the central banks of Canada and England with a quarter-percentage-point reduction in the benchmark federal funds rate on Tuesday.
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Dell Turns to Retail Therapy

Dell Inc. announced on Thursday it will begin selling PCs at more than 900 Best Buy Co. Inc. stores in an attempt to gain more of the U.S. consumer market.
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O2 hopes to nab iPhone clients from rivals

Three out of four buyers of the trendy iPhone in Britain will be new O2 customers won from rival mobile networks, according to the new head of O2 which won an exclusive deal to sell the iPhone in Britain.
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Teddy Teacher Welcomed by Home Muslims

The British teacher who was jailed in Sudan for letting her young students name a teddy bear Mohammed is now back in her hometown in Northern England and received a welcome note from local Muslims, according to news reports.
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British Muslims: Welcome back, Gillian.

The British teacher who was jailed in Sudan for letting her young students name a teddy bear Mohammed is now back in her hometown in Northern England and received a welcome note from local Muslims, according to news reports.
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UK Teddy Bear Teacher: Home Sweet Home

Gillian Gibbons, the teacher jailed in Sudan for allowing her students name a teddy bear Mohammed arrived in Britain on Tuesday morning after being pardoned and said she was sorry to leave the country and never imagined this would happen, according to news reports.
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Holy Smokes! World's worst polluters list is out!

World's two fastest growing economies, China and India, have earned the dubious distinction of being home to some of the biggest polluting firms across the globe, according to a list published by Carbon Monitoring for Action (CARMA), a product of the Confronting Climate Change Initiative at the Center for Global Development, an independent think-tank located in Washington, DC.

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