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Business - Boeing shares slip after first `underperform` rating since 2009


By Alwyn Scott NEW YORK (Reuters) - Boeing Co shares slipped 1.3 percent on Tuesday after a pair of downgrades from highly ranked analysts, including one who cut the stock outlook to `underperform.` The underperform rating by The Buckingham Research Group, a New York-based broker-dealer, marked the first such rating for Boeing`s stock since 2009, according to data by Thomson Reuters. In 2009, Boeing was suffering from delays in bringing its 787 Dreamliner to market. Buckingham also cut its price target for Boeing shares to $101, well below the current price of over $125. Analyst Richard Safran, ranked third among 23 Boeing analysts for estimate accuracy and recommendation performance, wasn`t immediately available for comment.


Tuesday, September 02, 2014  17:16

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World - Scores killed as Boko Haram insurgents overrun Nigerian town - sources


Islamist Boko Haram insurgents have overrun much of a northeastern Nigerian town after hours of fighting that has killed scores and displaced thousands of residents, several security sources said on Tuesday. Nigeria`s defense spokesman was not immediately available for comment. Two months after Islamist militants in Iraq and Syria declared the area they seized an Islamic caliphate, Boko Haram has also for the first time explicitly laid claim to territory it says it controls in parts of northeast Nigeria. Shekau`s forces have killed thousands since launching an uprising in 2009 to carve an Islamic state out of religiously mixed Nigeria, and are seen as the biggest security threat to the continent`s leading energy producer.


Tuesday, September 02, 2014  10:49

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World - Sharks off the menu and on the tourist trail in Palau


In many places swimmers might prefer to avoid sharks, but wetsuit-clad tourists in Palau clamour to dive among the predators thanks to a pioneering conservation initiative that has made them one of the country`s main visitor attractions. Palau created the world`s first shark sanctuary in 2009 and the move has been so successful that plans are now underway to completely ban commercial fishing in the island nation`s vast ocean territory by 2018. The fishing-free zone in the northern Pacific, described as unprecedented by famed US marine scientist Sylvia Earle, will cover 630,000 square kilometres (240,000 square miles), an area almost the size of France. The architect of the ambitious plan is Palau President Tommy Remengesau, who said the ban was needed to `let the ocean heal` after years of industrialised fishing in the Pacific that has seen stocks of some species such as bluefin tuna fall to critical levels.


Tuesday, September 02, 2014  05:51

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World - Hernandez headlines Hull City arrivals


Premier League club Hull City brought in four new players on the transfer deadline day, including Uruguay international striker Abel Hernandez from Italian side Palermo for `a club-record fee`. `Abel is a fantastic signing and highlights just how far the club has come in such a short space of time,` Hull manager Steve Bruce told the club website on Monday. Hernandez, who played for Uruguay at this year`s World Cup, will fill the void created by Shane Long`s move to Southampton last month for a fee of around £12 million. Hernandez joined Palermo from Penarol in 2009.


Tuesday, September 02, 2014  02:30

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World - Mogherini must win over doubters as EU foreign policy chief


By Gavin Jones ROME (Reuters) - Federica Mogherini must show she has the experience and clout to succeed as the European Union`s new foreign policy chief, just as her predecessor had to overcome a reputation as a diplomatic lightweight. The 41-year-old career politician, who became Italian foreign minister only in February, has been seen throughout her career as a politician who prefers to skirt controversy rather than take tough policy stands. Cynics say her appointment at an EU summit on Saturday confirms that member states want to keep their own tight grip on foreign policy issues, much the same as they said when Catherine Ashton became the EU`s first foreign policy chief in 2009. Ashton arrived as an unelected member of the British upper house of parliament with no foreign policy experience.


Sunday, August 31, 2014  17:54

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Business - AT&T sues Cox Communications for patent infringement


AT&T is suing Cox Communications for infringing eight patents dealing with network quality after the regional cable provider ignored its complaints about the issue and made `billions` off of the technology, according to a new lawsuit. In the suit filed Friday in Delaware federal court against Cox and more than 30 of its regional units, AT&T said that Cox had been warned about the claims of patent infringement as far back as 2009. AT&T claims the patents were infringed in Cox`s use and sale of digital video recorders, set top boxes, Internet and telephone systems, according to the lawsuit.


Friday, August 29, 2014  20:27

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Business - Euro lifts, shares drift as ECB easing bets wane


By Marc Jones LONDON (Reuters) - The euro lifted off its lows and the region`s shares sagged on Friday as a new five-year low in euro zone inflation was viewed as not extreme enough to force the European Central Bank back into its increasingly bare policy cupboard. Consumer prices in the 18 countries using the euro rose by just 0.3 percent year-on-year in August, the lowest since October 2009 and well below the ECB`s preferred 2 percent, but also right in line with economists` prior expectations. It helped cool fevered speculation that ECB is rapidly moving towards U.S., UK and Japanese-style quantitative easing - printing money by buying bonds - following strongly-worded comments from ECB President Mario Draghi last week. `Although Draghi has waved the flag I don`t thank there is enough there (in the inflation data) to instigate another round of easing,` said Bank of Tokyo Mitsubishi currency strategist Derek Halpenny.


Friday, August 29, 2014  12:13

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World - Turkey unveils new cabinet of Erdogan allies


Turkish President Recep Tayyip Erdogan approved a new cabinet stacked with loyal allies just a day after he moved from premier to head of state, with former Europe minister Mevlut Cavusoglu promoted to foreign minister. Prime Minister Ahmet Davutoglu, who took over Erdogan`s former job on Thursday, announced a ministerial line-up little changed from Erdogan`s cabinet, with only four new names. Davutoglu had won approval for his cabinet at a meeting with Erdogan at the presidential palace. The most notable appointment was that of Cavusoglu to the post of foreign minister, taking over the post that Davutoglu had himself held since 2009.


Friday, August 29, 2014  12:13

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Business - Disappearing euro zone inflation set to heighten ECB concerns


By Martin Santa and Eva Taylor BRUSSELS/FRANKFURT (Reuters) - Euro zone inflation dropped as expected to a fresh five year low in August, data showed on Friday, something likely to concern the European Central Bank but not force it into immediate policy intervention. Consumer prices in the 18 countries using the euro rose by just 0.3 percent year-on-year in August, the smallest increase since October 2009, the European Union`s statistics office Eurostat reported. Inflation, which dropped unexpectedly to 0.4 percent in July, has been locked in what ECB President Mario Draghi called a `danger zone` of below 1 percent since October last year. Vanishing inflation poses problems for the ECB as it tries to respond to the bloc`s stalled recovery, which is facing additional struggles because of economic sanctions imposed against Russia in July over its involvement in the deepening conflict in Ukraine.


Friday, August 29, 2014  11:06

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Business - Euro zone inflation dips as expected in August


By Martin Santa BRUSSELS (Reuters) - Euro zone inflation dropped as expected to a fresh five year low in August, data showed on Friday, but it was not likely to force the European Central Bank into immediate policy intervention next week, Consumer prices in the 18 countries using the euro rose by just 0.3 percent year-on-year in August, the smallest increase since October 2009, the European Union`s statistics office Eurostat data showed. Inflation, which dropped unexpectedly to 0.4 percent in July, has been locked in what ECB President Mario Draghi called a `danger zone` of below 1 percent since October last year. Vanishing inflation strengthens poses problems for the ECB as it tries to respond to the bloc`s stalled recovery, which is facing additional struggles because of economic sanctions imposed against Russia in July over its involvement in the deepening conflict in Ukraine. Any immediate action coming at the ECB`s Sept. 4 policy meeting is not considered likely, according to ECB sources talking to Reuters earlier this week.


Friday, August 29, 2014  10:26

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