| //04-03-2009 |
ZURICH — Banking has long been to this tidy city what cars are to Detroit and computers to Silicon Valley, only more reliably. For while fortunes swung wildly in those places, quietly serving the world’s wealthy made growth here as predictable as a fine Swiss watch.
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| //03-03-2009 |
- The cost of protecting corporate bonds from default rose as HSBC Holdings Plc reported a 70 percent drop in earnings last year and investors grew concerned General Electric Co. may not be able to save its AAA rating.
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| //03-03-2009 |
WASHINGTON (Reuters) - The Obama administration is not interested in escalating a dispute with Switzerland over bank secrecy laws, Switzerland's top justice official said on Monday after meeting with her U.S. counterparts.
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| //03-03-2009 |
SYDNEY ¡X Australia's central bank left its key interest rate unchanged at 3.25 per cent Tuesday, after deep cuts in the last few months to help stimulate the rapidly slowing economy.
The board of the Reserve Bank of Australia decided to end the run of cuts - for now - that have slashed the key rate from 7.25 per cent at the beginning of September to its lowest level in more than 40 years.
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| //02-03-2009 |
HSBC is changing its feathers. Two years ago, it was the canary in the global bank vault when it alerted the world to the problems of subprime mortgages. Now it’s on the verge of raising more than £12 billion. The call for capital echoes its banking peers’ and suggests the financial crisis is lurching into an ugly new phase. And news reports over the weekend say the bank is going to cut back on lending in the United States.
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| //02-03-2009 |
HONG KONG (MarketWatch) -- Hang Seng Bank reported on Monday that net income for 2008 fell 23% from a year earlier, owing to lower income from its wealth-management services and higher loan-impairment charges.
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| //02-03-2009 |
Commerce National Bank ("the Bank") (OTCBB: CNBF), a community business bank in its sixth year of operation, announced its financial results for the full year and fourth quarter ended December 31, 2008.
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| //01-03-2009 |
Hong Kong, 25 March 2009 – Industrial and Commercial Bank of China Limited ("ICBC" or the "Bank", SSE: 601398; SEHK: 1398) today announces its annual results for the financial year 2008. Based on International Financial Reporting Standards, ICBC's profit after tax for the year ended 31 December 2008 was RMB 111.2 billion, up 35.2% from the year 2007. Earnings per share were RMB 0.33. This has been the sixth consecutive year of high growth since 2003. During these six years, the compound annual growth rate of after tax profit was 37.5%, making ICBC one of the world's fastest growing major international banks. In 2008, ICBC strengthened its position as the world's largest bank by market value and became the most profitable bank in the world.
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| //27-02-2009 |
Feb. 27 (Bloomberg) -- Kenneth Lewis, chief executive officer of Bank of America Corp., testified for four hours at New York Attorney General Andrew Cuomo¡¦s offices in a probe of $3.6 billion in bonuses paid at Merrill Lynch & Co. just before it merged with the bank
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| //27-02-2009 |
The federal government plans to take a substantial ownership stake in Citigroup, launching the Obama administration's new strategy to prevent the failure of any more large banks, according to sources familiar with the matter.
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| //27-02-2009 |
European equities sustained solid gains by the end of trading on Thursday. Royal Bank of Scotland revealed a smaller-than-expected loss and detailed the ways in which it would offload billions worth of toxic assets, while Swiss bank UBS got a new chief executive.
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| //26-02-2009 |
NEW YORK (Reuters) - Citigroup Inc is closing in on an agreement to boost the U.S. government's stake in it to as much as 40 percent, the Wall Street Journal reported on its website, citing people familiar with the situation.
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| //26-02-2009 |
SAN FRANCISCO (MarketWatch) -- Bank of America is looking to sell First Republic, a private bank the giant lender took on when it acquired Merrill Lynch, the Wall Street Journal reported late Wednesday, citing unidentified people familiar with the situation.
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| //26-02-2009 |
European banks hobbled with hundreds of billions of toxic assets should be wound down or restructured, the European Commission said yesterday in new state aid guidelines for the EU's 27 governments.
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| //24-02-2009 |
UBS, mounting a legal fight against federal efforts to force it to disclose the names of United States clients suspected of offshore tax evasion, may end up in court in July for a mini-trial on the matter.
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| //24-02-2009 |
The bank says the move will allow it to hold on to cash to bolster its equity. Shares rise after hours.
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| //24-02-2009 |
The downturn of this economy has Ben Bernanke, chairman of Federal Reserve, notified that banks should be kept in the private sector. "I think there is a very strong commitment in the part of the administration to try return banks, keep banks and return banks to private hands, as quickly as possible," he said.
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| //23-02-2009 |
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| //23-02-2009 |
It was reported that by the end of January of 2009, ICBC's total assets has exceeded RMB 10,000 billion and become the first domestic enterprise with total assets breaking through RMB 10,000 billion.
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| //23-02-2009 |
Net income attributable to common shares was C$115 million for the quarter ended 31 December 2008, a decrease of 3.4 per cent compared to the same period in 2007*.
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