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USA UK and Malta News
30/10/2008 - 19:56

UK Today Editoweb 30 october 2008

ExxonMobil profit surges to record 14.8 billion dollars - Dollar snaps back against euro - OPEC must cut output by a million barrels: Venezuela.



ExxonMobil profit surges to record 14.8 billion dollars

US oil giant ExxonMobil shook off economic troubles and hurricanes to post a record third-quarter profit of 14.83 billion dollars, up 58 percent from a year ago, the company said Thursday.

Dollar snaps back against euro

The dollar snapped back sharply against the euro in volatile trade Thursday as players took profits and once more favoured the US currency's safehaven attributes during a time of crisis.

OPEC must cut output by a million barrels: Venezuela

OPEC must cut at least a million barrels from its oil supply in December or before December, Venezuelan Energy Minister Rafael Ramirez said Thursday.

U.S. economy contracts as consumers retreat

The U.S. economy suffered its sharpest contraction in seven years in the third quarter as consumers cut spending and businesses reduced investment at the onset of what may be a severe and long-lasting recession.

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