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Standard Chartered Profit Climbs to Record for Eighth Year
Written by Dailynews.vn Wednesday, 29 February 2012 21:16
By Stephanie Tong and Howard Mustoe
(Updates with comment on bonus in fourth paragraph.)
Feb. 29 (Bloomberg) -- Standard Chartered Plc, the U.K.’s second-largest bank by market value, said profit last year climbed 12 percent, marking its eighth annual record earnings, on growth in wholesale banking.
Net income rose to $4.85 billion from $4.33 billion a year earlie...
Goldman Sachs Traders Had Losses on 17 Days in Fourth Quarter
Written by Dailynews.vn Wednesday, 29 February 2012 21:16
By Christine Harper
Feb. 28 (Bloomberg) -- Goldman Sachs Group Inc., the Wall Street bank that generated 60 percent of its 2011 revenue from trading, recorded losses from that business on 17 days in the fourth quarter, down from 21 days in the prior quarter.
The firm’s traders lost more than $100 million on two of those days, according to the New York-based company&rsq...
S. Korea Output Rises in Jan. After Three Months of Declines
Written by Dailynews.vn Wednesday, 29 February 2012 21:16
By Eunkyung Seo
(Updates with new analyst quote in fourth paragraph.)
Feb. 29 (Bloomberg) -- South Korea’s industrial production rose in January after three consecutive months of declines as manufacturers of cars, machinery and mobile phones boosted output on improving prospects for demand.
Output increased 3.3 percent from December, when it dropped a revised 0.7 ...
Wall Street Bonus Withdrawal Means Trading Aspen for Cheap Chex
Written by Dailynews.vn Wednesday, 29 February 2012 21:16
By Max Abelson
Feb. 29 (Bloomberg) -- Andrew Schiff was sitting in a traffic jam in California this month after giving a speech at an investment conference about gold. He turned off the satellite radio, got out of the car and screamed a profanity.
“I’m not Zen at all, and when I’m freaking out about the situation, where I’m stuck like a rat in a trap ...
People’s to Buy 56 Citizens Branches Amid New York Expansion
Written by Dailynews.vn Wednesday, 29 February 2012 12:16
By Patrick Clark
(Updates with CEO comment in the fourth paragraph, share in price last.)
Feb. 28 (Bloomberg) -- People’s United Financial Inc., the Bridgeport, Connecticut-based bank that made four acquisitions in 2010, agreed to buy 56 branches from Citizens Financial Group Inc. to expand on New York’s Long Island.
Fifty-two of the branches are in Stop &am...
Nuclear-Free Summer Looms Over Japan’s West in Risk to Growth
Written by Dailynews.vn Wednesday, 29 February 2012 12:16
By Andy Sharp and Toru Fujioka
Feb. 29 (Bloomberg) -- Japan’s economic rebound from the deepest contraction among advanced nations after Greece and Portugal may be stunted this year as power shortages threaten its western region.
The Kansai area, which accounts for about a fifth of Japan’s economy and escaped the worst of electricity cutbacks after the March 11 e...
Bank of Montreal Beats Estimates as Profit Rises to Record
Written by Dailynews.vn Wednesday, 29 February 2012 12:16
By Doug Alexander
(Updates with analyst comment in the 12th paragraph.)
Feb. 28 (Bloomberg) -- Bank of Montreal, the first Canadian bank to report quarterly results, beat analysts’ estimates as profit soared 34 percent after its takeover of a Wisconsin lender helped lift U.S. consumer-banking earnings.
Net income rose to a record C$1.11 billion ($1.12 billion), or...
'Gordon Gekko' Helps FBI Fight Insider Trading
Written by Dailynews.vn Wednesday, 29 February 2012 12:16
By Patricia Hurtado
Feb. 27 (Bloomberg)-- Gordon Gekko, the character played by actor Michael Douglas in the movie “Wall Street,” is the New York FBI office’s newest weapon in its arsenal to combat insider trading.
The message from Douglas in a public service announcement to be unveiled today won’t be “Greed, for lack of a better word, is good.&...
Most European Stocks Rise as Germany Votes for Bailout of Greece
Written by Dailynews.vn Wednesday, 29 February 2012 03:46
By Tom Stoukas
Feb. 28 (Bloomberg) -- Most European stocks advanced after Germany’s parliament voted to approve a second package of aid for Greece. U.S. index futures and Asian shares also gained.
PSA Peugeot Citroen jumped 6 percent after the company was said to plan a stake sale to General Motors Co. Cove Energy Plc advanced after a report that India’s Oil &...
Schumer Wall Street Backers Targeted in Tax Fairness Debate
Written by Dailynews.vn Wednesday, 29 February 2012 03:46
By Heidi Przybyla
(Updates with CBO data in paragraph before Democratic Legislation sub-headline.)
Feb. 27 (Bloomberg) -- The Democratic Party’s tax-fairness campaign theme pits Senator Chuck Schumer of New York, among the chief architects of that message, against some of his most influential constituents and top campaign donors.
Democrats are renewing their bid t...
Euro-Area Economic Confidence Rises More Than Forecast: Economy
Written by Dailynews.vn Wednesday, 29 February 2012 03:46
By Simone Meier
(For more on Europe’s debt crisis, click on EXT4.)
Feb. 28 (Bloomberg) -- Economic confidence in the euro area improved more than forecast in February, adding to signs the economy is stabilizing after a fourth-quarter contraction.
An index of executive and consumer sentiment in the 17- nation euro area rose for a second month, increasing to 94.4 fr...
Barclays Said to Be Bank Behind ‘Abusive’ U.K. Tax Plans
Written by Dailynews.vn Wednesday, 29 February 2012 03:46
By Howard Mustoe
Feb. 28 (Bloomberg) -- Barclays Plc, which says banks need to become better citizens, will comply with the government’s decision to close two tax loopholes it exploited which the U.K. Treasury called “highly abusive.”
The U.K. yesterday closed two “aggressive” tax-avoidance programs that could have deprived the public purse of m...
'Gordon Gekko' Helps FBI Fight Insider Trading
Written by Dailynews.vn Wednesday, 29 February 2012 03:46
By Patricia Hurtado
(Updates with public service spot in third paragraph.)
Feb. 27 (Bloomberg)-- Gordon Gekko, the character played by actor Michael Douglas in the movie “Wall Street,” is the newest weapon in the FBI’s arsenal to combat insider trading, part of a law-enforcement initiative agents say will continue for at least five more years.
The mess...
Asian Stocks Swing Between Gain, Loss on Yen, China Bank Lending
Written by Dailynews.vn Tuesday, 28 February 2012 18:46
By Kana Nishizawa and Norie Kuboyama
Feb. 28 (Bloomberg) -- Asian stocks swung between gains and losses as gains in the yen cut the earnings outlook for Japan’s exporters and Chinese banks climbed after a report they are allowed to keep lending to local governments for some projects.
Honda Motor Co., a carmaker that gets more than 80 percent of its revenue overseas, lo...
HSBC Says on Track to Meeting Profitability Goal in 2013
Written by Dailynews.vn Tuesday, 28 February 2012 18:46
By Howard Mustoe and Gavin Finch
(Adds shares at close in fifth paragraph.)
Feb. 27 (Bloomberg) -- HSBC Holdings Plc, Europe’s largest bank by market value, said it’s on a “clear trajectory” to meeting its profitability target next year as it posted pretax profit that missed analyst estimates.
Pretax profit rose 15 percent to $21.9 billion last y...
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- AIJ Suspension Undermines Japan Pensions Hedge Fund Appetite
- Buffett Says Banks Victimized by Excesses of Evicted Homeowners
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