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    [RIVALS]

    Rivals Hold Greece's Fate in Balance

    Greece's recovery may well hinge on a power struggle between the prime minister and his childhood friend and political rival.

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    UBS Slashes Costs

    UBS said it will cut an undisclosed number of jobs as it slashes up to 2 billion Swiss francs in costs after second-quarter net profit collapsed by almost half.

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    U.K. Ekes Out Feeble Growth

    The U.K's economic growth slowed in the second quarter as the royal wedding and Japanese tsunami dented production, increasing pressure on the government to soften its austerity program.

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    [0726bp]

    BP Posts Profit; Production Slips

    BP swung to a net profit as oil prices rose but missed analyst expectations after reporting a drop in oil and gas production. Net profit for the second quarter was $5.62 billion compared with a $17.15 billion loss a year ago.

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    Deutsche Bank Profit Rises

    Deutsche Bank reported a 3.3% increase in net profit for the second quarter as revenue from its newly bolstered private banking business offset a slowdown in its main trading businesses caused by the euro-zone debt crisis.

  • [NEWSINDIE]

    News Corp. Board Challenged

    News Corp.'s board believes steps taken so far are appropriate for addressing the phone-hacking scandal. Some critics, however, say the board lacks the independence needed to tackle the issue.

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    Europe Rates Resume Climb

    Hopes that the EU's crisis had been contained by Greece's latest bailout were undermined as the cost of funding for Spain and Italy surged again amid ongoing concern over Europe's finances.

  • [swiss0725]

    Swiss Franc Gives Shelter in Storm

    Switzerland has long prided itself on being neutral territory. Now its currency is taking its turn as a safe harbor for investors battered by dueling debt crises in the U.S. and Europe.

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    German Consumer Confidence Slipping

    Pessimism among German consumers is growing due to discussions over the Greek debt crisis and possible risks to the euro, German market research group GfK said.

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    [EUBORDER]

    EU Says France, Italy Fell Short on Accord

    Decisions taken by France and Italy to handle an influx of migrants from Tunisia didn't breach EU rules but fell short of the "spirit" of the Schengen accord that guarantees free movement within most member states.

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    Vatican Recalls Envoy to Ireland

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    Amy Winehouse Autopsy Inconclusive

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    North Europe Workplaces Are Happier

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    Strauss-Kahn Accuser Risks Media Push

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