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It’s not only America and Europe, who are battling with the subprime woes, but Asian markets are also affected by it.
It’s so obvious that even single news also affects other markets dearly. Subprime dragon has already eaten up many...
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Gap Inc successfully posted a 19% rise in quarterly earnings despite sluggish sales at stores open more than a year, helped by cost-cutting and announced plans for a $1.5bn share buyback program.
In the fiscal second-quarter, Gap’s net income...
Against the will of European Union, Russia has nominated former Czech central bank chief Josef Tosovsky to head the International Monetary Fund (IMF).
European Union has already formed a consensus on the name of former French finance Minister...
What can be worse for an economy if its inflation increases at the pace of 2000% per month? I am not leaving you in a quandary, but Mugabe-led Zimbabwean economy is actually affected by the inflation, which has risen to 7,634.8%, the highest in the...
Bank of America has invested $2bn in Countrywide Financial Corp, to shore up the finances at the largest U.S. mortgage lender, which has hard hit by the subprime mortgage crises.
Under the terms of the deal, bank will buy 7.25% of non-voting...
To control money supply and curb rising prices, the People’s Bank of China has raised interest rate on bank deposits by 27 basis points to 3.6%, and the lending rates by 18 basis points, to 7.02% from 6.84%, fourth time this year.
On the basis...
The vicious side of global warming is apparent to all and most of the nations are pledged to take possible measures on it. Oil drillers are widely criticized and pressurized to minimize their proven role in it. After decades of ...
HSBC chance to float over to South Korean banking business is facing obstruction from unions as negotiations to secure the $4.5bn deal is feeling heat.
Banking giant HSBC is in talk to buy a controlling stakes in Korea Exchange Bank (KEB), but...
Stocks steadily strengthened after the Federal Reserve’s recent interest rate cut, but failed to meet with the anticipated promises. Market is continuously being hurt by the debt market - to alleviate the ongoing credit crunch and to calm the...
Federal regulators filed civil fraud charges against Sentinel Management Group, accused of fraud and misappropriation of clients’ assets, including using customers’ securities to obtain a loan of up to a half-billion dollars.
The...
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