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Iran’s currency woes hurt wallets in Iraq

Thousands of Iranian Shias used to flocked to shrines such as Imam Hussein in Karbala [EPA]

Business from Shia pilgrims has plummeted and Iran’s state travel agency owes millions in unpaid bills, officials say.  The plunge in Iran’s currency is proving bad for business for the country’s neighbours, who can no longer rely on flush Iranian pilgrims…

Europe is ‘main drag’ on global recovery

The U.S. and Chinese economies have started to show signs of growth but Europe will continue to be the main headwind to a sustained recovery

NEW YORK (CNNMoney) – The world’s two largest economies have been showing signs of improvement, but experts say the recession in Europe remains the biggest challenge to sustained global growth. In the United States, reports released Thursday showed gains in…

Starbucks shares rise on strong sales

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NEW YORK (CNNMoney) – Starbucks served up some encouragement to investors Thursday with quarterly results that showed strong sales growth. The Seattle-based chain posted earnings close to analyst estimates. More reassuring was news that same-store sales rose 6%, and that…