Editor's update

Euro weak on debt worries

The euro remained under downward pressure amid worries that Ireland’s financial crisis will spread to other indebted euro-zone countries. LCH.Clearnet, a clearing-house, increased its margin requirements for trading in Irish government debt for the third time in recent weeks.

 

A member of the European Central Bank’s council, Axel Weber, said the European Union-led €750 billion ($1 trillion) bail-out fund for EU countries could be expanded if that were necessary to restore confidence in the euro.

 

Vodafone and other mobile-phone operators in India may each have to pay more than $1 billion to its government, which has been accused of greatly undervaluing the second-generation licences it issued in 2008.

 

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