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Northern Rock to axe 2000 jobs

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  • Northern Rock to axe 2000 jobs

    BRITAIN'S ailing Northern Rock bank will cut more than 2000 jobs, or about a third of its workforce, by 2011, the lender said overnight, one month after it was taken into public ownership.

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  • #2
    Shares prices jump, banks lead gains

    AUSTRALIAN shares rose 2 per cent in early trade today, led by financials as an interest-rate cut in the US and forecast-beating earnings from two top US investment banks helped to soothe nerves about credit markets.

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    • #3
      Scramble for funds as Bank of England auctions £10bn

      The Bank of England's latest special auction of three-month funding received the biggest demand yet as banks lined up for a liquidity injection amid panicky financial markets.


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      • #4
        Growth to drop down a gear

        GROWTH in Australia will slow in the months ahead given a rise in borrowing costs and credit market woes, which will stop the central bank from raising rates again, according to a leading forecaster.

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        • #5
          Four appear on dissident charges

          Four men appear in court in Dublin charged in connection with dissident republican activity.

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          • #6
            Dollar rises above US93c

            THE Australian dollar was higher at noon, back above US93 cents, with a rally this morning spurred on by improved risk appetite after the US central bank's cut in interest rates.

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            • #7
              Asian stock markets join rally

              ASIAN stocks surged today as big US interest rate cuts and surprisingly resilient results from two top US investment banks revived financial shares that had suffered heavy losses.

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