GO-AHEAD: The succes of the Air France-KLM offer still depends on the reaction of the unions and the new Italian government that will emerge from the April vote
After a marathon meeting the board of Alitalia early yesterday approved a formal takeover offer put forward by Air France-KLM, placing a very low value on the struggling Italian flag carrier.

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CLOSE CALL: Many financial analysts argue that one more interest rate reduction will not be the lifeline that will pull the ailing US economy back from the brink
Desperate to aid an economy in crisis, the US Federal Reserve is ready to deliver yet another big interest rate cut.

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South Africa, producer of 30 percent of the gold in circulation today, is unable to profit fully from record prices for the precious metal as a crippling electricity crisis hampers production.

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The global cruise industry is putting on a brave face as it sails into seas darkened by a faltering US economy, a weak dollar and record oil prices, major cruise ship operators said at their annual convention.

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■ BANKING
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