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News of the 07/28/2008

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Ryanair warns of loss next year

  
Ryanair warns it could make an annual loss of up to 60 million euros if oil prices stay high - though it will still cut fares.
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Kraft Foods profit beats estimates

  
CHICAGO (Reuters) - Kraft Foods Inc posted higher-than-expected quarterly profit on Monday as price increases and hedging positions offset rising costs for energy and commodities like wheat.
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Toyota cuts 2008 outlook

  
TOKYO (Reuters) - Toyota Motor Corp on Monday cut its 2008 groupwide global sales forecast by 350,000 units to 9.5 million vehicles due to a pronounced downturn in the U.S. market, in a rare setback for the world's biggest automaker.
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Examples of businesses not paying withheld taxes

  
Examples of businesses that failed to remit federal payroll taxes: --A waste management company owing $16 million over 40 tax quarters. The business was being investigated for hiring illegal immigrants. The owner was arrested for income tax crimes.
    From Boston Globe | Add a commentary | Report abuse
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House Prices 'Will Soar by 25%'

  
House prices fell for the 10th month in a row during July but experts predict the property market will bounce back even higher.
    From Sky News | Add a commentary | Report abuse
 

Buyout giant KKR says plans to list on NYSE

  
NEW YORK (Reuters) - Kohlberg Kravis Roberts & Co, one of the world's most powerful private equity firms, plans to brave the turbulent equity markets and list on the New York Stock Exchange this year, joining rival Blackstone in bringing the famously secretive industry into public view.
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Warning Over Big Fuel Bill Hikes

  
The energy market needs urgent reform as millions of households face significant price rises in the near future, MPs have warned.
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UK's Top Toy Builds On The Past

  
Lego has been voted Britain's favourite toy, almost 50 years after it first hit the country's shelves.
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Asia stocks mixed despite oil dip

  
July 28 - A profit warning by Australia's third-largest bank ANZ casts a pall over Asian stocks, overshadowing the fall in oil prices to below $124 dollars a barrel.
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House prices 'fall 1% in June'

  
House prices fell by 1% in June from May, capping annual increases at 0.1%, Land Registry figures show.
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Takeaways Bit By Credit Crunch

  
More and more workers are making their own packed lunch to save money, according to Sainsbury's.
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The future of British shipbuilding

  
Jul 28 - The construction of two new aircraft carriers in Britain brings an economic boost to the southern English city of Portsmouth and other shipbuilding areas.
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Ryanair profits nosedive

  
Jul 28 - Profits in Europe's biggest discount airline Ryanair have plunged by 85% in the first quarter.
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Tesco buys out RBS from finance JV

  
The grocer Tesco PLC said Monday it is buying out Royal Bank of Scotland PLC from the pair's personal finance joint venture and signalled its intent to transform the business into a full-service retail bank.
    From Boston Globe | Add a commentary | Report abuse
 

Merrill warns of further losses

  
US bank Merrill Lynch says it will write off another $5.7bn and needs to raise another $8.5bn by selling shares
    From BBC News | Add a commentary | Report abuse
 

Treasury uncovers mortgage fix

  
Jul 28 - U.S. Treasury Secretary Henry Paulson is pushing "covered bonds," which are backed by mortgages that remain on the books, as a way to restore confidence in the troubled mortgage market.
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Radio's next revolution

  
Jul 28 - Sirius and XM may have the go ahead to combine forces, but they are facing new competition.
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