New Zealand, ECB raise interest rates
INFLATIONARY PRESSURES:
The move by the Reserve Bank set a record high while the European bank raised borrowing costs to their highest level in almost six years
New Zealand's central bank took markets by surprise yesterday, raising its key interest rate to a record high 8 percent from 7.75 percent in a move to curb inflation.
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Microsoft agrees to a deal with LG on patent cross-licensing
BUILDING BRIDGES? :
The pact with the south Korean firm is the latest in a line of agreements with hardware manufacturers. One analyst said the software giant has an ulterior motive
Microsoft Corp and South Korea's LG Electronics said yesterday they have reached a patent cross-licensing agreement aimed at further developing each other's current and future products.
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Toyota's hybrids pass 1 million mark
Toyota said yesterday that global sales of its hybrid vehicles have topped 1 million since they were first introduced a decade ago, a landmark for the Japanese automaker that leads the world in "green" cars.
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