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ECB will take action: Portugal finance minister

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The European Central Bank (ECB) still plans to take action to combat the problem of low and falling inflation despite holding off and disappointing markets over the past few months, Portugal's finance minister told CNBC.

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JPMorgan agrees to pay $995m to resolve Ambac claims

JPMorgan agreed to pay $995m to resolve claims by Ambac Financial Group that it was duped into insuring mortgage bonds backed by shoddy loans, paving the way for approval of a much larger settlement between the bank and institutional investors stemming from the global financial crisis.