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World markets slide, oil soars on Libya unrest

LONDON (AFP) – Global markets dived Tuesday and oil prices spiked above $108 per barrel, as sentiment was rocked by violent unrest in Libya, while the safe-haven US dollar gained ground. “The revolutions in Tunisia and Egypt are continuing to spread across the region. It seems to be Libya’s turn…

US Fed says economic outlook worse than expected

Facing a worse-than-expected outlook for US growth and unemployment, the Federal Reserve has floated the idea of new measures to spur economic recovery, according to minutes published Wednesday. Details from the Fed’s latest rate-setting meeting, held in June, showed the central bank expected US growth to slow to 3.0-3.5 percent…

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