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Latest news entries via source the seattle times: business & technology
FTSE-100 up 59.28 points at 4,638.92
Share prices on the London Stock Exchange closed up Tuesday.-
British house prices sink by record amount in 2008
House prices in Britain fell by their biggest annual amount in at least 56 years during 2008, as credit seized up and possible buyers stayed out of the market, a leading mortgage lender said Tuesday.
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Builders say $1.3B Dubai race course deal nixed
Companies building the centerpiece of a prominent Dubai race course said Tuesday the original $1.25 billion contract has been canceled, putting the fate of the future site of the Middle East's premier horse race in doubt.
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Russia stops all gas supply to Europe via Ukraine
Russia has shut off all its gas supplies to Europe through Ukraine - the latest move in a pricing dispute that has reduced or halted fuel deliveries to a dozen countries during a winter cold snap.
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Euro zone inflation fell below target in December
Inflation in the countries that use the euro currency dropped further in December to 1.6 percent, according to official estimates, stoking market expectations that the European Central Bank will keep cutting borrowing costs in coming months.
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Dollar up despite disappointing economic readings
The dollar rose against most major currencies Tuesday despite disappointing readings on pending home sales and factory orders, as speculation mounted that the European Central Bank will continue its rate cut campaign in the face of declining inflation across the euro zone.
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Japan stocks up for 7th day on hopes for US plan
Japanese stocks rose for a seventh straight trading day on Wednesday on optimism over a U.S. economic stimulus plan. Exporters like Panasonic and Honda also gained as the yen weakened, inflating their overseas income.
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China shares fall on profit-taking
Chinese shares declined Wednesday after a short-lived rally on profit-taking in banks and refiners, and telecom shares fell despite the government's release of third-generation mobile phone licenses.
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Brazil industrial output falls on slowing economy
Brazilian industrial production fell the most in seven years in November as the global financial crisis sapped credit and demand for exports, the government said Tuesday.
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China issues 3G mobile phone licenses
China assigned third-generation mobile phone licenses Wednesday to three carriers in a long-awaited step that is expected to prompt $41 billion in spending on new equipment.
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