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CNN
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World markets were sent into a tailspin Monday as the shockwaves from the bailout of U.S. investment bank Bear Stearns continued to reverberate and stocks tumbled. In early trading in Europe, the FTSE 100 fell by 2.47 percent to 5493 and the French CAC 40..
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BusinessWeek
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Its customers are no longer panicking, but the online bank and brokerage still faces a shaky stock market and potential loan losses
E*Trade Financial (ETFC) appears to have dodged the bullet of bankruptcy—for now.
Three months ago, the online bank..
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CNN
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The Bank of England cut interest rates by a quarter of a percentage point to 5.25 percent on Thursday, its second cut in three months as it attempts to shore up confidence in Britain's slowing economy. "The prospects for output growth abroad have deterior..
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MSNBC
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French bank Societe Generale said Thursday it has uncovered a $7.14 billion fraud — one of history’s biggest — by a single futures trader who orchestrated a series of bogus transactions.
The fraud destabilized a major bank already exposed to the..
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BusinessWeek
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Rising joblessness suggests the downdraft from the credit crunch is spreading, and the central bank will have to slash rates more aggressively to avoid a nasty recession
It looks as if the Federal Reserve is crawling out of the frying pan and into the..
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MSNBC
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Lenders are also posting huge losses as the easy money lending spree that fueled the housing boom continues to unwind. This month alone many major banking companies including Citigroup, Merrill Lynch, Morgan Stanley and Bank of America have reported billi..
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Al Jazeera
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The injections enable commercial banks to borrow from the central bank amid fears of a credit freeze linked to the US subprime market.
European slide
The ECB credits, which are in the form of loans, have come to more than the amount injected short..
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MSNBC
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Major central banks swept in to calm credit markets spooked by mounting losses on Thursday, with the European Central Bank injecting record amounts of cash to prevent the financial system from seizing up.
President George W. Bush also sought to calm fe..
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Yahoo News
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Wall Street plunged in early trading Thursday, yanking the Dow Jones industrials down more than 180 points after a French bank said it was freezing three securities funds that struggled to find liquidity in the U.S. subprime mortgage market.
The announ..
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BusinessWeek
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The World Bank will have to respond to pressure to reform its leadership selection process and redefine its mission
It's not just about Paul Wolfowitz.
With the chief architect of the Iraq war's turbulent reign at the World Bank ending on June 30, t..
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CNN
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A U.S. bank said Friday it was considering a request to help solve an international funds transfer involving North Korea that has held up movement by the communist country to implement a landmark nuclear disarmament accord.
Wachovia Corp. said it has b..
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BusinessWeek
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Analysts say the institution has been "severely weakened" by the Wolfowitz controversy and the recent scrutiny of its unwieldy bureaucracy
The ugly showdown at the World Bank has all the signs of a no-win situation. And if the standoff between embattle..
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Washington Post
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World Bank President Paul D. Wolfowitz said yesterday that he intends to continue in his job despite the controversy over his role in arranging pay raises and promotions for his girlfriend, a bank employee forced by conflict-of-interest rules to take an o..
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CNN
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The European Central Bank has decided to hold its key interest rate steady at three and three-quarters percent. The decision comes as euro countries see economic growth and falling unemployment.
Analysts believe a rate increase is still to come in May..
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Guardian Unlimited
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A major technical hitch means that up to 400,000 people will today find that their monthly pay has not gone into their bank account. Many of those affected could see their finances plunged into the red, as some will have mortgage payments and other bills..
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Globe and Mail
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After years of smooth sailing, the banking industry ran into stiff headwinds Thursday when the two biggest U.S. mortgage lenders to high-risk home buyers warned that costs from delinquent loans were swelling faster than they had expected. Europe's HSBC..
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BBC News
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Thai stocks fell to their lowest in two years as foreign investors led selling in response to Bank of Thailand moves designed to halt currency speculation...
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BusinessWeek
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The beleaguered investment bank ousts Erin Callan from the CFO slot and Joseph Gregory as COO. Will the moves pacify its critics?
Heads usually roll on Wall Street when the going gets ugly, and this time is no exception. On June 12, Lehman Brothers Hol..
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BBC News
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The Bank of England has announced details of a 50bn plan to help prevent the credit crisis causing more damage to the UK banking system and economy.
Banks will be able to swap potentially risky mortgage debts for secure government bonds to enable them..
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BusinessWeek
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Gen Y is flocking to a free site for managing bank and credit accounts and household budgets. Mint.com aims for 1 million users by yearend
In the market for personal finance software, bigger has usually meant better. For years, category leader Intuit (..
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