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Swiss Drug Maker to Cut 2,000 Jobs

Posted October 25th, 2011 at 5:25 am (UTC-5)
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Swiss drug maker Novartis announced Tuesday it is cutting 2,000 jobs mainly in Switzerland and the United States, as the company looks to save hundreds of millions of dollars. Novartis will create 700 new positions in lower cost countries. The cost reductions will be implemented over the next three to five years. The announcement was […]

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Tokyo Stocks Lower, Dollar Up

Posted October 25th, 2011 at 5:25 am (UTC-5)
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Japanese share prices were lower Tuesday, as the dollar rose against the yen. Tokyo’s Nikkei index was down nearly one percent to close at 8,762. In currency trading, the dollar was selling at 76.25 yen, up a tenth of a yen from late Tuesday. Gold was trading at $1,657.68.

Tags: , Posted in Economy

Thai Flooding Closes Bangkok Airport, Threatens Relief Center

Posted October 25th, 2011 at 5:10 am (UTC-5)
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Rising floodwaters seeped into Bangkok’s Don Muang airport Tuesday, halting flights and prompting authorities to begin moving people out of a major evacuation center at the facility. Bangkok’s main international airport, southeast of the city, was not affected. But Don Muang, located near flooded districts in the city’s northern suburbs, is the site of Thailand’s […]

Tags: , , , Posted in East Asia Pacific

NTC: Gadhafi Buried in Secret Grave

Posted October 25th, 2011 at 4:55 am (UTC-5)
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Libyan provisional authority officials say the body of late ousted leader Moammar Gadhafi has been buried in an unmarked grave in a secret location. The officials said Gadhafi, his slain son Mutassim and former defense minister Abu Bakr Younis were buried early Tuesday during the same ceremony. Gadhafi’s body had been on public display since […]

Tags: , , Posted in Middle East

Asian Markets Mostly Higher

Posted October 25th, 2011 at 4:40 am (UTC-5)
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Asian stock markets were mostly higher in trading Tuesday. But Tokyo’s Nikkei index as down nearly one percent to close at 8,762. Hong Kong’s Hang Seng index rose slightly more than one percent . top end at 18.968. Elsewhere markets were higher in Shanghai, Taipei, Wellington and Manila. The dollar was selling at 76.11 yen, […]

Tags: , , Posted in Economy

Thai Flooding Closes Bangkok Airport, Threatens Relief Center

Posted October 25th, 2011 at 4:05 am (UTC-5)
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Rising floodwaters seeped into Bangkok’s Don Muang airport Tuesday, halting flights and threatening the main depot from flying emergency supplies to inundated areas in northern Thailand. Bangkok’s main international airport, southeast of the city, was not affected. But Don Muang, located near flooded districts in the city’s northern suburbs, is the site of Thailand’s Flood […]

Tags: , Posted in East Asia Pacific

Islamist Party Claims Victory in Tunisia’s Election

Posted October 25th, 2011 at 3:50 am (UTC-5)
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Tunisia’s moderate Islamist party has taken steps to form a coalition after saying it has won enough votes in Sunday’s election to claim victory. Official results will not be announced until Tuesday, but provisional results give the Ennahdha party close to 40 percent of the vote. There are estimates the party’s share could reach 50 […]

Tags: , Posted in Middle East

Rescuers Continue Search for Turkey Quake Survivors

Posted October 25th, 2011 at 3:45 am (UTC-5)
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Thousands of residents of eastern Turkey have spent a second night outdoors in near freezing temperatures as rescuers continue the search for earthquake survivors. Rescuers pulled several more survivors from the rubble in the early hours of Tuesday. Officials say the death toll from Sunday’s earthquake stands at 279 dead and at least 1,300 injured. […]

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Obama Urges Egypt to Halt Emergency Rule

Posted October 25th, 2011 at 3:35 am (UTC-5)
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U.S. President Barack Obama has urged the head of Egypt’s ruling military council to end emergency rule, and stressed his support for Egypt’s transition to democracy. The White House said Mr. Obama spoke by telephone Monday with Field Marshal Hussein Tantawi, and called for Egypt to also halt military trials of civilians. The military has […]

Tags: , Posted in Middle East

3Q Bank Reports Reflect Economic Crisis

Posted October 25th, 2011 at 3:35 am (UTC-5)
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Two of Europe’s largest banks released third quarter earnings statements Tuesday that reflect the ongoing worldwide economic crisis. Deutsche Bank announced a decline in profits of more than $1 billion – or 37 percent. Bank head Josef Ackerman blamed the bank’s economic woes on the continuing worldwide economic situation. UBS, Switzerland’s largest bank, announced a […]

Tags: , Posted in Europe