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Bank of England Eyes Rate Rise as Inflation Surges

The Bank of England on Thursday hinted at an interest rate rise in the coming months as a Brexit-hit weak pound sends inflation soaring.

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Lebanon Weathers Economic Shocks but Debts Mount, IMF Says

Lebanon's economy has shown resilience despite the burden of absorbing refugees from Syria's grinding conflict, but Beirut should reign in its sovereign debt, the International Monetary Fund cautioned.

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European Car Market Revs Up in Summer

The European car market booked its best-ever August in 10 years this year, with new registrations jumping by 5.6 percent last month, the European Automobile Manufacturers' Association ACEA said on Thursday.

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Swiss Life Says Contacted by US Authorities

Swiss insurer Swiss Life said Thursday it has been contacted by the US Department of Justice regarding its cross-border business with American clients.

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'Business as Usual' for Qatar's $300 Billion Sovereign Fund

The head of the Qatar Investment Authority said Wednesday that the lingering Gulf political crisis was having little impact on the $300 billion sovereign wealth fund of the gas-rich nation.

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Carmakers See Promise of Bonanza in Eastern Europe

As Frankfurt's IAA auto show gets under way, European carmakers are looking to the continent's east for growth, where increasing numbers of people are wealthy enough to afford their own wheels.

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UK Unemployment Hits New 42-Year Low

Britain's unemployment rate has fallen to a new 42-year low, official data showed on Wednesday, but wages growth remains far below overall inflation.

The unemployment rate fell to 4.3 percent in the quarter through to the end of July, reaching the lowest level since 1975, the Office for National Statistics (ONS) said in a statement. 

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Oil Market Moving Back into Balance

There are signs the global oil market is returning to balance and stocks of oil products in industrialised nations could soon fall below their five-year average, the IEA said Wednesday.

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Eni-Total Fail to Find Exploitable Gas Off Cyprus

Cyprus said on Tuesday that an exploratory drill by Italian-French venture Eni-Total in waters off the Mediterranean island had failed to find enough natural gas to exploit.

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Saudi Prince to Acquire Major Stake in Banque Saudi Fransi

Saudi billionaire Prince Alwaleed bin Talal has agreed to buy over half of Credit Agricole's stake in Banque Saudi Fransi, making his Kingdom Holding Co the largest shareholder in one of the country's major lenders.

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