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Credit Suisse has reported a loss for the first three months of the year, hit by its exposure to the credit markets.
The bank made a net loss of 2.1bn Swiss francs ($2.1bn; £1.0bn) after writing down 5.3bn Swiss francs in mortgage securities and big buyout loans.
It had made a net profit of 2.7bn Swiss francs [...]

The US, Britain, France and other members have walked out of a closed meeting of the UN Security Council after Libya compared the situation in Gaza to Nazi concentration camps in World War II.
Diplomats said France’s UN ambassador walked out, followed by his Western colleagues, after the Libyan envoy made the remarks during a debate [...]

HONG KONG (Reuters) - Genetic engineering, combined with organic farming, may be the best way to grow food for a rising population as the world confronts climate change and environmental degradation, a U.S. rice scientist said.
Pamela Ronald, professor at the University of California at Davis, told Reuters on Thursday that the world needed to use [...]

Italy’s next Prime Minister Silvio Berlusconi has said that an emergency loan to Alitalia makes it more likely that the problem airline will be saved.
Mr Berlusconi, who is due to take office in about a month, said a group of firms and banks were now expected to put together a rescue package.
However, Mr Berlusconi failed [...]

Zimbabwe’s state-run newspaper has urged regional countries to help Robert Mugabe, the president, form a transitional government that can organise a fresh poll and write a new constitution.
The Herald, in an editorial posted on its website, said prevailing political tensions made it impossible to hold a free and fair presidential run-off.
“The current socio-economic environment in [...]

SAN DONATO MILANESE, Italy (Reuters) - Microsoft’s (MSFT.O: Quote, Profile, Research) chief executive reiterated on Wednesday that the software giant stood by its bid for Yahoo (YHOO.O: Quote, Profile, Research) and would “move forward” if the Internet company’s board rejected it.
“We know what Yahoo is worth to us. We offered a lot of money: $44 [...]

Alitalia’s future is under fresh threat after Air France KLM said it would walk away from its proposed takeover bid.
Air France suspended talks with the troubled Italian carrier last month after it failed to get the necessary backing from unions for its proposals.
It has now dropped out altogether, saying the contractual basis for its initial [...]

Hundreds of people have fled Mogadishu after heavy clashes between anti-government fighters and Somali and Ethiopian troops reportedly killed more than 80 people over the weekend.
The Somali capital was largely quiet on Monday as residents ventured out onto the streets to collect the bodies of the dead or escape the city.
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SEOUL (Reuters) - South Korea’s most powerful businessman said on Tuesday he would step down after 20 years at the head of the giant Samsung Group following his indictment last week for tax evasion and breach of trust.
The televised announcement by Lee Kun-hee, 66, who has achieved almost heroic status in South Korea for his [...]

The Bank of England has announced details of a £50bn plan to help prevent the credit crisis causing more damage to the UK banking system and economy.
Banks will be able to swap potentially risky mortgage debts for secure government bonds to enable them to operate during the credit squeeze.
The Bank’s governor, Mervyn King, said the [...]