Browsing Category News
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Profits beat view after bad debts tumble
The two banks showed a dip in investment banking income in the latest quarter, but more than made up for that with lower losses on personal and corporate loans as broad economic co... -
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Customers intrigued by new British bank Metro
A steady stream of customers were greeted with an array of gimmicks. Not only does the bank welcome dogs, it provided them with free biscuits and offered their owners free breakfas... -
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Guinea must review mining deals – Diallo
Guinea must review billions of dollars worth of mining deals signed since a coup in 2008 to make sure the West African state is getting its fair share of revenue, election front-ru... -
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Russia grain export forecasts cut as drought rages
A key lobby group has became the latest body to downgrade Russia’s 2010 crop prospects as the worst drought in 130 years threatened harvests in the major wheat exporter, sending ... -
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Investor pressure to oust Pru execs waning
The pressure on Prudential chief Tidjane Thiam to quit in the wake of the insurer’s failed bid for Asian rival AIA has eased, with big investors refusing to put their weight behi... -
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IMF gives ground on yuan exchange rate debate
The International Monetary Fund has chosen not to call the yuan “substantially” undervalued, a move that recognises China’s efforts to free up its exchange rate and avoids fr... -
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BP replaces CEO; posts $17bn Q2 loss on spill
BP Plc has named American Bob Dudley as its next CEO, saying Tony Hayward would stand down after his gaffe-prone handling of the worst oil spill in US history that triggered a $17b... -
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Ex-trader accused of fraud seeks to clear name on TV
Ross Mandell, former head of Sky Capital Holdings, was indicted in July 2009 on charges he and five others defrauded investors in a scheme US prosecutors claim pressured people to ... -
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Europe bank test transparency gets cautious thumbs-up
Spain’s smaller regional lenders, or cajas, will start a roadshow aimed at reassuring investors after the test results showed five of their peers among the seven banks that faile... -
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UK economy grew twice as fast as expected in Q2
Britain’s economy grew almost twice as fast as expected in the second quarter of this year, buoyed by a sharp pick-up in services output and the fastest rise in construction outp...
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