February 27th, 2010
Bank of England Governor Mervyn King said officials didn’t lose sleep during the financial crisis worrying about the failure of hedge funds, whose model provides a potential solution in regulating the banking system.
“After the failure of Lehman Brothers and the need to recapitalize the banking system, it became very clear that hedge funds, […]
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February 13th, 2010
Federal Reserve Chairman Ben S. Bernanke laid more groundwork for exiting his record expansion of credit without saying when he’ll take the first step.
Bernanke yesterday described how the Fed might use tools such as interest it pays on banks’ deposits to tighten credit “at some point.” In congressional testimony, he said a potential […]
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February 9th, 2010
Taiwan needs to seal a free trade agreement with China to ensure the island can compete with regional rivals in global markets, according to the island’s official who is leading the talks.
Taiwan has been unable to join in a wave of bilateral or multilateral free-trade agreements in recent years because China regards the […]
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January 15th, 2010
A tech rally propelled the Nasdaq and helped the broader market erase losses Friday, as investors took in stride a surprisingly weak jobs report amid other recent signs that the economy appears to be stabilizing.
The Dow Jones industrial average (INDU) added 11 points, or 0.1%. The S&P 500 index (SPX) gained 3 points, or […]
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December 23rd, 2009
WASHINGTON — Regulators on Friday shut down seven banks in six states, including Independent Bankers’ Bank, based in Springfield, Ill., and two large banks in California.
Regulators so far this year have shut down 140 banks.
The Federal Deposit Insurance Corp. on Friday took over the seven newly shuttered banks.
Independent Bankers’ Bank […]
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December 17th, 2009
Norges Bank will probably keep the benchmark interest rate unchanged today, after becoming the first central bank in Europe to lift borrowing costs, as lower oil spending next year slows the pace of economic growth.
The Oslo-based bank will leave the overnight deposit rate at 1.5 percent, according to 11 of the 13 economists […]
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December 15th, 2009
New pay restrictions were unveiled Friday for hundreds of top employees at the nation’s biggest bailout recipients, representing the latest effort aimed at protecting taxpayers’ investment.
The ruling, issued by White House "pay czar" Kenneth Feinberg, will impact 75 out of the 100 highest-paid employees at four companies: Citigroup (C, Fortune 500), AIG (AIG, Fortune […]
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December 6th, 2009
Spain’s industrial production fell the least in more than a year in October as government stimulus measures bolstered demand for cars even as unemployment continued to climb.
Output at factories, refineries and mines fell 9.2 percent from a year earlier, adjusted for the number of working days, the least since September of last year, […]
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November 28th, 2009
Canwest Global Communications delivered another quarterly loss on Friday, with the still-sluggish advertising market pulling down overall revenues by 13 per cent during a period that saw little in the way of good news for a company in the midst of a major restructuring.
The Winnipeg-based media conglomerate posted a $111-million loss worth 62 cents […]
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November 25th, 2009
Tiffany & Co reported a larger-than-expected quarterly profit and raised its forecast for full-year earnings on the strength of its overseas sales and a solid start to the holiday season, sending the upscale jeweler’s shares up nearly 6 percent.
The company’s sales showed double-digit growth in Asia and a slower rate of decline for the […]
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