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(MENAFN - AFP) Global oil prices rose on Friday, supported by renewed Russia-Ukraine tensions and bright US economic growth data, analysts said.

Brent North Sea crude for October added 42 cents to $102.88 per barrel in midday London deals.

US benchmark West Texas Intermediate for October delivery gained 57 cents to $95.12 a barrel.

Ukraine and the West said on ...

 
(MENAFN - AFP) Audi, the top-of-the-range car maker belonging to auto giant Volkswagen, said on Friday it is recalling 70,000 cars worldwide owing to potential problems with braking systems.

An Audi spokesman told AFP that the recall affected the company's A4, the A5, the A5 Cabrio, the A6, the A7 and also the Q5 crossovers models built between March and December 2012.

The ...

 
(MENAFN - AFP) Brazil is in technical recession after the country's national statistical institute unveiled a 0.6 percent drop in second quarter GDP on Friday, while revising the Q1 figure down from 0.2 to -0.2 percent.

The figures, coming barely a month before the country goes to the polls for presidential and elections, will worsen already low industrial and consumer confidence ...

 
(MENAFN - AFP) British supermarket giant Tesco plunged deeper into crisis on Friday after issuing yet another profits warning, cutting both its dividend and capital expenditure, and rushing in its new chief executive.

In reaction to the dire trading update, Tesco shares plunged by more than 8.0 percent in early morning deals on the London stock market to strike an 11-year ...

 
(MENAFN - AFP) Its detonation is one of the most iconic scenes in movie history.

Now, 57 years after it was blown to smithereens, authorities in Sri Lanka plan to rebuild the "Bridge on the River Kwai" to assuage the anger among locals over a controversial dam project.

While the World War II epic was supposedly set in Japanese-held Burma (present-day Myanmar), it was ...

 
(MENAFN - AFP) European stocks edged higher on Friday, recovering ground lost the previous day on simmering Ukraine tensions, but London gains were tempered by a profits warning from beleaguered supermarket giant Tesco.

In late morning deals, London's benchmark FTSE 100 index added 0.12 percent to 6,813.79 points.

Frankfurt's DAX 30 index gained 0.16 percent to 9,477.39 ...

 
(MENAFN - AFP) Supermarket giant Auchan said that a price war in France pushed net profit down 11.5 percent in the first half, but that overall sales held up because of international performance.

In the first six months of the year, net group profit fell to 272 million euros ($359 million).

Global sales rose by 4.7 percent to 31.2 billion euros, boosted by a strong ...

 
(MENAFN - AFP) Malaysia Airlines will slash 6,000 jobs, trim its route network, and replace its CEO under plans announced Friday to stave off bankruptcy after two air tragedies plunged the already troubled carrier deeper into crisis.

State investment fund Khazanah Nasional, which controls the failing flag carrier, said it would pump 6 billion ringgit ($1.9 billion) into the ...

 
(MENAFN - AFP) The Danish economy shrank by 0.3 percent in the second quarter, official data showed on Friday, casting doubt on the government's annual growth forecast as demand from European trading partners declined.

Analysts had expected economic output to grow slightly after consumer confidence this month reached levels not seen since 2007.

That was before Denmark ...

 
(MENAFN - AFP) Eurozone inflation fell to 0.3 percent in August, raising the dangers of deflation and also pressure on the European Central Bank to open up the cash floodgates, data showed on Friday.

The latest fall takes the rate down from 0.4 percent in July and from 1.3 percent a year ago, and to far below the ECB's target of just under 2.0 percent.

The latest twist ...

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