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USA UK and Malta News
05/11/2008 - 20:08

UK Today Editoweb 5 november 2008

Obama wins historic US election - Obama victory sparks profit-taking in US, European stocks - German government tries to jump-start growth.



Obama wins historic US election

Barack Obama has become the first black US president after a landslide election victory.

Obama victory sparks profit-taking in US, European stocks

Wall Street and European stocks fell back Wednesday as investors buckled down for an expected gloomy economic ride after the euphoria of Democrat Barack Obama's US presidential election victory.

German government tries to jump-start growth

The German cabinet approved a 23-billion-euro stimulus package Wednesday to help Europe's biggest economy and the world's top exporter avoid the worst effects of a sharp global slowdown before a hoped-for recovery in 2010.

Oil prices slump on as US energy demand weakens

Oil prices tumbled almost five dollars on Wednesday as the latest data pointed towards weakening demand in the United States, the world's biggest energy consuming nation.

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