Saturday 23 November 2024
 
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state aid

Cyprus Airways ends operations on EU ruling

Cyprus Airways is ending operations with immediate effect after the European Union ruled it had received illegal state aid, the government said on Friday. An administrator will be appointed for the airline and its operating licenc

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US banks lose billions as state aid pours in

Hours after taking $20 billion in new state cash, Bank of America and recent addition Merrill Lynch revealed they had lost almost as much last quarter, while Citigroup also made thumping losses. Bank of America lost $1.79 billion in the fo

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