Latest news on ‘Financial Services’
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Lehman executives cause of failure – examiner’s report
Grace Wong – Failings by Lehman Brothers executives and its auditor led to the bank collapse that unleashed the worst of the financial crisis, according to a report by court-appointed [...]
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Forget the Fed, All Eyes Now on China’s Central Bank
China’s consumer price inflation rose a faster-than-expected 2.7% in February, the sharpest increase since October 2008. Coming on the heels of Tuesday’s strong import/export data and amid a surge in [...]
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Bank of America Eliminates Overdraft Fees on Debit Buys
By DAN FITZPATRICK And ROBIN SIDEL
Bank of America Corp. plans to announce Wednesday that it is eliminating $35 overdraft fees on debit-card purchases as the bank tries to stay ahead [...] -
AIG sells Alico unit to MetLife for $15.5 billion
CHARLOTTE, N.C. (AP) -American International Group Inc. said Monday that it will sell its American Life Insurance Co. division for $15.5 billion to MetLife Inc. The government-approved deal, AIG’s second [...]
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AIG 4Q Loss Narrows After 2008 Record
NEW YORK (Dow Jones) – American International Group Inc. (AIG) posted a nearly $9 billion fourth-quarter loss as the troubled insurance giant continued to be hammered by investment writedowns and [...]
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Obama hails new credit card rules
by David Jackson – Starting today, credit card companies have to give you ample notice if they change credit card rules.
“These new rules don’t absolve consumers of their obligation to [...] -
Goldman Sachs details 2001 Greek derivative trades
LONDON (Reuters) – Goldman Sachs (GS.N) has defended the cross-currency derivatives it conducted for Greece in 2001 which reduced the country’s debt as a common currency risk management procedure consistent [...]
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BNP Paribas Q4 profit beats forecasts on lower charges
PARIS (Reuters) – BNP Paribas (BNPP.PA) posted higher fourth-quarter profits that beat market forecasts and France’s biggest listed bank struck a relatively confident note despite the economic uncertainty clouding the [...]
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BOJ May Refrain From Easing Even as Deflation Deepens
By Mayumi Otsuma and Keiko Ujikane
(Bloomberg) – The Bank of Japan will probably refrain from easing monetary policy further at a board meeting this week because the recovery remains intact [...] -
BAE to Book Write-Down After Contract Fails
By STEVE MCGRATH
LONDON—U.K. defense giant BAE Systems PLC said Monday it will book a £592 million ($927.7 million) write-down in its 2009 accounts after it failed to win a follow-on [...]
