Sweden’s central bank increases interest rates
Sweden’s central bank increases interest ratesBy Carlo Piovano And Terence Roth
The Wall Street Journal Europe
31 Aug 2006
STOCKHOLM— Sweden’s Riksbank raised its interest rate by 0.25 percentage point to 2.50% and signaled more increases after evidence of brisk economic growth this summer. The central bank dismissed calls by a prominent think tank for it to leave rates...
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Investors flee hedge fund amid decline in returns
Investors flee hedge fund amid decline in returnsBy Gregory Zuckerman
The Wall Street Journal Europe
31 Aug 2006
Investors have withdrawn$1 billion from Ritchie Capital Management LLC in the past year, amid disappointing returns and criticism over its use of separate accounts to hold certain investments, according to people close to the matter. Now, with $2...
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Citigroup acquires TD’s capital markets wing
Citigroup acquires TD’s capital markets wingNEW YORK
Windsor Star
22 Aug 2006
Citigroup Inc., the biggest U.S. bank, bought TD Waterhouse Group Inc.’s capital-markets arm to trade small shares that aren’t listed with major marketplaces such as the New York Stock Exchange. Terms weren’t disclosed. The purchase brings 23...
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Dollar lacks clear direction
Dollar lacks clear directionBy Isabelle Lindenmayer
The Wall Street Journal Europe
21 Aug 2006
The U.S. dollar seems to be having something of a commitment problem. A thin summer market and the euro’s inability to push past recent highs on the back of dollar-negative data have caused investors to shy away from driving the dollar in a clear...
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Wall Street firms near exchange deal (The Wall Street Journal Europe, 17 Aug 2006, Page 21)
Wall Street firms near exchange dealBy Aaron Lucchetti
The Wall Street Journal Europe
17 Aug 2006
A consortium of Wall Street firms, including Citigroup Inc., Bear Stearns Cos. and Credit Suisse Group, is close to buying 50% of the all-electronic National Stock Exchange— making it the latest example of brokerage houses putting their money behind...
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Breakingviews: UBS’s big fix
Breakingviews: UBS’s big fix
The Wall Street Journal Europe
16 Aug 2006
nesses like M&A has clouded the clarity of mission that once set the firm apart and primed its progenitors to manage America’s finances. Though Mr. Paulson, and now Mr. Steel, are following tradition with their moves toWashington, it’s not clear how...
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Deutsche Bank chief returns investment push to Germany
Deutsche Bank chief returns investment push to GermanyBy Edward Taylor
The Wall Street Journal Europe
15 Aug 2006
As he prepares to be retried on criminal charges in a German court, Chief Executive Josef Ackermann has been putting the “Deutsche” back in Deutsche Bank AG. During his four years as head of Germany’s biggest bank by market value, Mr. Ackermann had...
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McCartneys hire royal couple’s divorce lawyers (Globe and Mail, 09 Aug 2006, Page A3)
McCartneys hire royal couple’s divorce lawyersBY MIKE COLLETT-WHITE, LONDON
Globe and Mail
09 Aug 2006
Sir Paul McCartney and his estranged wife Heather Mills McCartney have raised the stakes in their increasingly acrimonious divorce battle, hiring the same two lawyers who represented Prince Charles and Diana, Princess of Wales, when they split up in...
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ING, Fortis profits rise; Aegon’s net declines 12%
ING, Fortis profits rise; Aegon’s net declines 12%By Nicolas Parasie
The Wall Street Journal Europe
11 Aug 2006
Two of Europe’s largest bankandinsurance companies, ING Groep NV and Fortis NV, reported sharp increases in second-quarter results, while smaller life insurer Aegon NV posted an expected drop in net profit. All three companies benefited from strong...
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Citigroup is fined for plot to waive fund sales fees
Citigroup is fined for plot to waive fund sales feesBy Clint Riley
The Wall Street Journal Europe
11 Aug 2006
NEWYORK—The National Association of Securities Dealers fined Citigroup Inc.’s retail-brokerage unit $1.1 million for its role in a plot to waive mutual-fund sales charges by using false disability claims. The financial-services company was ordered to...
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Whatever Fed does today, someone will be unhappy Higher interest rates help some, hurt others, but inflation hurts all (USA Today, 08 Aug 2006, Page 6A)
Barclays profit jumps on investment banking
Barclays profit jumps on investment banking
Hindustan Times
04 Aug 2006
London: Barclays Plc, Britain's third-biggest bank, reported a better than expected 37 per cent rise in halfyear profits on Thursday, as a buoyant performance by its investment banking arm countered a big rise in bad debts. Barclays made a pretax...
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Barclays profit jumps on investment banking
Barclays profit jumps on investment banking
Hindustan Times
04 Aug 2006
London: Barclays Plc, Britain's third-biggest bank, reported a better than expected 37 per cent rise in halfyear profits on Thursday, as a buoyant performance by its investment banking arm countered a big rise in bad debts. Barclays made a pretax...
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New HBOS boss announces £2.65bn profits
New HBOS boss announces 2.65bn profitsFiona Walsh
The Guardian
02 Aug 2006
Britain is rediscovering the savings habit, according to Andy Hornby, the youthful new chief executive of HBOS. Reporting better-than-expected firsthalf profits yesterday, Mr Hornby said HBOS had attracted new savings of 4bn, double the total in the...
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House price rise adds to pressure on Bank to increase rates
House price rise adds to pressure on Bank to increase ratesLarry Elliott Economics editor
The Guardian
02 Aug 2006
Rising house prices and slower industrial growth provided a fresh dilemma for the seven current members of the Bank of England’s monetary policy committee as they began a two-day meeting this morning to decide interest rates. Ahead of what is seen in...
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House price rise adds to pressure on Bank to increase rates
House price rise adds to pressure on Bank to increase ratesLarry Elliott Economics editor
The Guardian
02 Aug 2006
Rising house prices and slower industrial growth provided a fresh dilemma for the seven current members of the Bank of England’s monetary policy committee as they began a two-day meeting this morning to decide interest rates. Ahead of what is seen in...
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Profitable HSBC headed into Japan
Profitable HSBC headed into Japan
The Province
01 Aug 2006
LONDON— Banking group HSBC Holdings PLC reported a 15-percent rise in its profit for the first half yesterday, as it said its expansion into emerging markets was showing results. HSBC, which operates in Britain, Europe, Asia and the Americas, said it...
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