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Cathay rumoured to be bidding for British Airways

23-Oct-2008

Oil slumps to USD66.20 per barrel

Oil prices fell to their lowest levels since 14-Jun-07 in intra-day trade in New York, which could trigger deeper production cutbacks at an OPEC meeting tomorrow. US and European sharemarkets fell sharply overnight, by 4-6%, signalling a weak day for Asia. [372 words]

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