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GDF Suez Takes 'Radical' Charge for Shale Shock in Europe

French gas giant GDF Suez reported a huge net loss for last year, the latest gas provider to reveal the depth of upheaval from the boom of shale energy in North America.

The group, which also distributes electricity, reported a net loss of 9.7 billion euros ($13.24 billion) for 2013 from sales which slipped by 0.8 percent to 81.3 billion euros.

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Royal Bank of Scotland Says 2013 Net Loss Hits £9.0 bn

Britain's state-rescued Royal Bank of Scotland plunged into a near £9.0-billion loss last year on vast charges for litigation and the creation of a 'bad bank' division, it said Thursday.

The lender, which is 81-percent owned by the government after a huge bailout during the global financial crisis, added it would seek to slash its cost base by another £5.3 billion in the coming years and warned of more "inevitable" job cuts.

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ECB: Loans to Eurozone Businesses Still Weak

Lending to businesses in the debt-mired eurozone contracted again in January, data published by the European Central Bank showed on Thursday.

Private sector loans dropped by 2.0 percent in January in a year-on-year comparison, the ECB said, after already contracting by 2.3 percent in December.

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British 2013 Economic Growth Downgraded to 1.8%

Britain's economy grew by less than thought last year, but still showed the fastest annual growth since before the financial crisis, revised official data showed on Wednesday.

The nation's gross domestic product (GDP) expanded by 1.8 percent in 2013, down from the previous growth figure of 1.9 percent, the Office for National Statistics (ONS) said in a statement giving its latest estimates.

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Swiss Bank Accused of Helping Clients evade U.S. taxes

Switzerland's second largest bank, Credit Suisse, used elaborate measures to find wealthy clients and help an estimated 19,000 U.S. customers evade American tax authorities, a scathing report from a Senate inquiry said Tuesday.

The report contains the results of a two-year Senate investigation and comes a day before the heavily-anticipated questioning of Credit Suisse chief Brady Dougan and other top bank officials before the panel.

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Oil Prices Down ahead of U.S. Stockpiles Report

Oil prices eased in Asian trade Wednesday as dealers await the latest U.S. crude stockpiles data for clues about demand in the world's biggest economy at the tail-end of a harsh winter.

New York's main contract, West Texas Intermediate for April delivery, eased 13 cents to $101.70 in afternoon trade. Brent North Sea crude for April was down 16 cents at $109.35.

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Survey: German Consumer Confidence Rises Again

Consumer confidence in Germany is still on the rise as households feel optimistic about their income expectations, a new poll found on Wednesday.

"Consumers remain optimistic," market research company GfK said in a statement.

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Billionaire Boom for Asia: Chinese Survey

Asia experienced a billionaire boom last year, with more than 200 people from the continent seeing their net worth pass into 10 figures, a Chinese publisher said Tuesday.

A total of 824 Asians were included among the 1,867 people named as dollar billionaires on the Hurun Report's global rich list.

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Germany's Public Finances in Black as Recovery Continues

Germany, Europe's biggest economy, clocked up a small surplus in its public finances in 2013, as growth picked up at the end of the year, official data showed on Tuesday.

"According to Destatis's latest calculations, the federal state's financing surplus amounted to 0.3 billion euros ($0.4 billion) in 2013," the federal statistics office Destatis said in a statement.

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Turkey's Credit Card Crackdown Irks Consumers

With the Turkish government already facing protests over its clampdown on Internet sites and the media, new credit card restrictions are now adding shoppers and retailers to the list of angry citizens.

Turkey's banking regulator introduced new rules earlier this month to clamp down on the use of widely used credit card installment plans, in a bid to stem spending on imports and rein in the ballooning current account deficit.

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