EADS profits take off despite downturn

European aerospace group EADS has announced "satisfying" results for 2008, posting a net profit of ?1.572 billion ($1.987 billion), despite the economic downturn. In a statement on its Web site, the company revealed earnings before interest and taxes (EBIT) for the period amounted to €2.8 billion ($3.55 billion).

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UK government takes majority stake in bank

The UK government confirmed Saturday that it will take majority control of Lloyds Banking Group, with the taxpayer owning 65 percent of voting shares in return for insuring £260 billion ($366 billion) of the group’s toxic assets. The British Press Association reported that the deal with the Treasury would see Lloyds commit to lend at least £28 billion ($40 billion) over the next two years.

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Climate protesters blame Donald Trump for airport expansion

Climate protesters demonstrating against Donald Trump’s plans for a sports resort broke into a Scottish airport Tuesday, setting up a small golf course and scaling the roof of a terminal building. Flights at Aberdeen airport were returning to normal by midday after the activists breached the security fence overnight, the airport authority said

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Spain: Footballers and agent held in cocaine bust

Court hearings began Friday for 11 people, including two Spanish professional football players and a Serb-French football agent, who were arrested this week on charges of cocaine smuggling, a police source told CNN. The 11 are accused of taking advantage of their football contacts in Latin America, and their trips to the region, to organize the drug trafficking. Spanish police made the arrests on Thursday, mainly in Madrid, and seized 600 kilos (1,320 pounds) of cocaine they alleged had been shipped from Argentina to Spain earlier this month

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As Crime Mounts, Mexicans Turn to Vigilante Justice

Graphic photos of the alleged thief’s corpse were splashed over the front pages of Mexican tabloids beneath headlines such as “Dead Rat” and “Military Justice.” The confessed shooter, retired general Alejandro Flores, was widely hailed as a hero for firing at the 30-year-old man who had tried to force his way into the military man’s Mexico City home. “Of course he did the right thing,” wrote Felipe Alcocer in one on-line forum on the incident. “I wish everyone would act in the same way and get rid of this anti-social scum.” Given Mexico’s widespread breakdown in security, the praise for Flores’ Feb

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World’s richest countries pledge to fix economy

The world’s richest countries committed to "any further action that may prove necessary" to restore confidence in the global financial system, their finance ministers said as they wrapped up a two-day meeting in Rome. The Group of Seven finance ministers also urged countries not to close their markets to goods and services from abroad. “An open system of global trade and investment is indispensable for global prosperity,” they said in a statement at the end of their meeting Saturday.

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