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Private Sector Loans Growing Fast in Eurozone

The volume of loans to the private sector in the euro area expanded in October, with a bigger bounce recorded than the previous month, ECB data showed on Thursday, suggesting a massive stimulus program may be working.

The data are for the European Central Bank a key indicator of economic health, as borrowing is a main source for corporate investment which in turn should boost the eurozone's currently weak economy.

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Philippine Growth Misses Forecast as Risks Loom

The Philippine economy grew slower than expected in the third quarter, as risks from a leadership change next year and the El Nino dry spell loomed, the government said Thursday.

The slowdown comes after years of sustained growth in the Philippines, formerly known as the "Sick Man" of Asia because of its poor economic performance.

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Euro Struggles as ECB Stimulus Speculation Ramps Up

The euro struggled in Asia Thursday as expectations grew that the European Central Bank will announce a boost to its monetary stimulus measures next week.

Bets that the ECB will go further to boost the 19-nation eurozone economy have pushed down the currency, and rekindled speculation that it may soon hit parity with the dollar for the first time since 2002.

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Pakistan Tightens its Anti-Money Laundering Law

Pakistan's parliament has approved amendments to an anti-money laundering law to make it more effective in targeting the financing of extremists and bring it into line with global standards, officials said Thursday.

The National Assembly, the lower chamber of the federal parliament, unanimously approved the amendments on Wednesday, two weeks after the Senate passed it, parliamentary officials said.

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Corbyn Ally Throws Mao's Little Red Book at UK's Finance Minister

Britain's Labor has been accused of lurching left since Jeremy Corbyn became leader, so when one of his key allies quoted Mao Zedong's Little Red Book in parliament Wednesday, Conservative opponents were delighted.

John McDonnell, the main opposition's finance spokesman, was giving his party's response to finance minister George Osborne's budget update in the House of Commons when he pulled out a copy of the Chinese revolutionary leader's book of quotations.

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Arrests of Senator, Bank CEO Deepen Brazil Corruption Probe

Brazilian police on Wednesday arrested a senior ruling party senator and a billionaire investment banker in the intensifying probe of a huge corruption network centered on state oil giant Petrobras.

Senator Delcidio Amaral, who leads President Dilma Rousseff's Workers' Party in the upper house, was the first sitting legislator to be arrested in the widening corruption scandal.

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Austerity Cuts Challenge European Police Facing Terror Threat

Europe is facing the specter of attacks by Islamic State (IS) jihadists with police numbers in some countries hit by austerity cuts, raising questions about whether this is making it easier for assailants to slip through the net.

Following this month's Paris attacks in which 130 people died, other EU nations are on high alert.

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Britain Swings Austerity Ax but Drops Tax Reform

Britain took the ax to spending Wednesday, fleshing out plans to slash welfare and eliminate the deficit, but dropped a controversial plan to cut tax credits for the poorest.

Finance minister George Osborne spelled out his proposals for £12 billion (17 billion euros, $18 billion) of cuts to welfare spending and £20 billion of reductions to public expenditure, while raising £5.0 billion via a crackdown on tax avoidance.

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Shoppers Rescuing Eurozone Growth as Exports Slow

U.S. rating agency Standard and Poor's said Wednesday a budding eurozone recovery was gathering steam thanks to consumers loosening their purse strings.

In a report entitled "Hangin' In There Despite Weak Foreign Demand", it said domestic demand had emerged as a main driver for growth, offsetting export weakness.

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German Cabin Staff Say Cancelling Lufthansa Strike

Cabin staff at Lufthansa said Wednesday they would cancel a planned strike against the German airline this week to allow for negotiations to resolve a protracted contract dispute.

Two weeks after mounting the longest strike in the company's history, the UFO flight attendants' union said it would call off industrial action scheduled for Thursday and Friday to hold further talks with management.

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