March 5th, 2010
Students can now pay their college loans and save with Sallie Mae.
The largest U.S. student loan company took its first steps into retail banking Tuesday with the launch of two new online savings accounts.
The Reston, Va.-based company said it will offer high-yield savings accounts with a 1.35% interest rate and certificates of deposit […]
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February 8th, 2010
Pakistan may offer as much as $1 billion of bonds and resume selling state assets in the coming months, Finance Minister Shaukat Tarin said, as the government forecasts a widening budget deficit amid rising war costs.
“We have made all the arrangements and we will conduct roadshows in the next couple of months,” Tarin […]
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November 11th, 2009
In the end, Garth Peterson, a rising star at Morgan Stanley in China, was undone by his pursuit of “guanxi.”
A central concept in Chinese society, guanxi loosely translates as “connections” and relationships.” But to Chinese people, it means much more than that: Guanxi equals power.
“Sometimes, money cannot buy you guanxi. But if you have […]
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October 2nd, 2009
Mario Draghi’s drive to rein back bankers’ pay is pushing him to the forefront of candidates to succeed Jean-Claude Trichet as head of the European Central Bank.
Italian Foreign Minister Franco Frattini on Sept. 29 backed the country’s central bank chief to run the ECB when Trichet’s term expires in 2011, the first time […]
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September 14th, 2009
A ruble devaluation won’t solve Russia’s economic problems as the world’s largest energy exporter faces “a very difficult next couple of years,” said European Bank for Reconstruction and Development Chief Economist Erik Berglof.
“This is the wrong way to think about the recovery in Russia,” Berglof said in a Sept. 10 interview in London. […]
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July 30th, 2009
Bank of Japan board member Tadao Noda said the central bank shouldn’t end its emergency credit programs prematurely because that could stymie a recovery.
“We need to avoid ending measures too early,” Noda said in a speech today in Matsumoto, central Japan. Still, “having extraordinary policies in place for too long may prevent the […]
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July 26th, 2009
John Taylor has a message for economists who say Ben S. Bernanke is ignoring a benchmark guide for interest rates: They’re wrong.
Taylor should know: He wrote the rule.
Economists from Goldman Sachs Group Inc., Macroeconomic Advisers LLC, Deutsche Bank Securities Inc. and even the San Francisco Federal Reserve Bank argue the Taylor Rule, […]
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July 21st, 2009
Bank of Japan is likely to consider when to end its three unprecedented credit programs separately, minutes show.
“Since each measure was different in its purpose and framework and in its effects on financial markets and overall financial conditions, the future of the measures should not be examined collectively but individually,” members said in […]
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May 18th, 2009
The European Bank for Reconstruction and Development’s board of governors is willing to discuss raising capital, Board Chairman Brian Lenihan said, as the global crisis means more banks and businesses in former communist states need loans and investment.
“The governors of the bank expressed broad openness to discuss enhanced capital needs of the EBRD,” […]
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March 15th, 2009
Stocks jumped Thursday, gaining for the third session in a row, as investors scooped up banks and other shares hit in a selloff that left the Dow at 12-year lows.
The Dow Jones industrial average (INDU) gained 240 points, or 3.5%, managing a three days of back-to-back gains for the first time since late January.
The […]
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