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IMF cuts global growth forecast, says risks rising

WASHINGTON: The International Monetary Fund (IMF) slashed its global growth forecast and warned things could get much worse if the eurozone crisis is not quelled and Washington fails to reverse the looming “fiscal cliff” austerity plan.   Unrelenting market turbulence …

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Sony and Olympus form alliance

Sony has agreed to invest 50bn yen ($640m; £397m) in the embattled camera firm Olympus. The Japanese technology giant will take an 11.5% stake in Olympus in return for the investment. Olympus is still reeling from an accounting scandal where …

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