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ECB Will Switch to Variable Rate on Three-Month Cash Offers

By Jana Randow “Amounts will be set with the aim of ensuring smooth conditions in money markets” and avoiding “significant spreads” between the ECB’s benchmark rate and the rate at which money is alloted, Trichet said. The benchmark rate serves as the minimum bid
rate. To
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ECB Will Switch to Variable Rate on Three-Month Cash Offers - Bloomberg.com

“Amounts will be set with the aim of ensuring smooth conditions in money markets” and avoiding “significant spreads” between the ECB’s benchmark rate and the rate at which money is alloted, Trichet said. The benchmark rate serves as the minimum bid rate. To contact the r
eporter on
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Iraq"s oil exports reach high

AFP Iraq's oil exports reached their highest level in February since Saddam Hussein's invasion of Kuwait in 1990, oil ministry spokesman Assem Jihad told AFP on Tuesday. "Oil exports for February reached 2.069 million barrels (per day) and this is the highest export level since 1990,"
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BP to cut costs to boost profitability

AFP BP, Europe's biggest oil company, says it will aim to cut more costs to improve its profitability over the next two or three years. "BP today outlined plans to further boost efficiency and reduce costs with the aim of improving its annual underlying pre-tax profitability by more
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New site digs up the dirt in detail

Five years ago Adrian Holovaty stripped out the statistics and reorganised them in a much more readable format, separating them to detail the types of crime, peak times and which places to avoid. Chicagocrime.org became an instant hit and spawned the idea for Everyblock, a website launched in

Kleenmaid to re-launch brand

AAP Private equity firm Compass Capital Partners will re-launch the troubled appliance Kleenmaid brand by opening a clearance centre this weekend. The firm also wants to to assist people who lost their deposits before Kleenmaid went into liquidation. Compass Capital Partners, which
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Kleenmaid to re-launch brand

Private equity firm Compass Capital Partners will re- launch the troubled appliance Kleenmaid brand by opening a clearance centre this weekend. Compass Capital Partners , which acquired the rights to the Kleenmaid brand late last year, will officially open a Kleenmaid
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Private equity firm to relaunch Kleenmaid

The firm also wants to to assist people who lost their deposits before Kleenmaid went into liquidation. Compass Capital Partners, which acquired the rights to the Kleenmaid brand late last year, will officially open a Kleenmaid Direct Clearance Centre on Saturday at Banksmeadow in
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Palmer says China coal deal stands

The Chinese company made it clear it had only reached a framework agreement with Mr Palmer's company, Resourcehouse. Mr Palmer, who announced the deal at the weekend, took aim at the media on Wednesday while defending his position that the deal had been struck with China Power International

Most Independents Disapprove of Obama’s Performance, Poll Finds

The Marist Poll found that 57 percent of independent voters don’t approve of Obama’s job performance, up from 44 percent in a Dec. 8 survey . Twenty-nine percent of independents approve, down from 41 percent, and 14 percent said they were unsure. “If attracting independen
ts and
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Most Independents Disapprove of Obama’s Performance, Poll Finds - Bloomberg.com

The Marist Poll found that 57 percent of independent voters don’t approve of Obama’s job performance, up from 44 percent in a Dec. 8 survey . Twenty-nine percent of independents approve, down from 41 percent, and 14 percent said they were unsure. “If attracting independen
ts and
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Progress on promise to expand kindergarten places: Bligh

The Queensland Government says it is making progress on its commitment to give every Queensland child a kindergarten place within four years. Premier Anna Bligh opened a new kindergarten at Stretton in Brisbane' s south today. She says more new kindergartens are planned for
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Progress on promise to expand kindergarten places: Bligh

By Chris O'Brien Map: Brisbane 4000 Premier Anna Bligh opened a new kindergarten at Stretton in Brisbane's south today. She says more new kindergartens are planned for Brisbane, Logan, Toowoomba, the Gold Coast, the Sunshine Coast, Yeppoon, Mackay and Townsville. "By 2014, we
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Kirin Says It’s Terminated Merger Talks With Suntory (Update1) - Bloomberg.com

“Kirin determined that even if negotiations were to continue, they were unlikely to result in the establishment of a company that would fulfill Kirin’s aim of developing as a leading global company,” the company said in a statement to the Tokyo Stock Exchange today. Suntory wa
nted a
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Tax on speculators urged

A FORMER deputy governor of the Reserve Bank has urged the federal government to consider taxing short-term capital inflows to stop them destabilising Australia's economy. Stephen Grenville, who retired from the RBA in 2001 to make way for present governor Glenn Stevens, has broken with
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Council backs development levy removal

Map: Wollongong 2500 The levy was supposed to raise money to help pay for badly needed infrastructure, but only $7,000 was collected over three years. Wollongong was the only regional city in the state to attract the levy. The State Member for Wollongong, Noreen Hay, says the levy
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Poseidon field fails to deliver for Karoon

Latest testing of the much-vaunted Poseidon discovery by ConocoPhillips and local junior partner Karoon in the Browse Basin off Western Australia has not produced the big confirming flow of gas to surface that supporters of the high-flying Karoon have been waiting on. But Karoon insists
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US bailout a washout

THE $700 billion US government effort to rescue the financial system has failed to kick-start lending or curb the risky activities of the banks, according to a government auditor. Troubled Asset Relief Program special inspector-general Neil Barofsky said the potential for a new crisis
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Zhu Says China to Keep ‘Accommodative’ Policies in Place - Bloomberg.com

Jan. 30 (Bloomberg) -- People’s Bank of China Deputy Governor Zhu Min said officials will keep their current policies in place as they monitor inflation expectations in the economy. China’s economy rebounded stronger than anticipated in the fourth quarter, and the inflation
rate
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Zhu Says China to Keep ‘Accommodative’ Policies in Place

Jan. 30 (Bloomberg) -- People’s Bank of China Deputy Governor Zhu Min said officials will keep their current policies in place as they monitor inflation expectations in the economy. China’s economy rebounded stronger than anticipated in the fourth quarter, and the inflation
rate
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