GLG and Deutsche Bank face fines over bond offer
GLG and Deutsche Bank face fines over bond offerBy Alistair MacDonald
The Wall Street Journal Europe
28 Dec 2006
France’s markets regulator will fine hedge fund GLG Partners LP and Deutsche Bank AG for abuses arising out of a convertible-bond offer for French telecommunicationsequipment maker Alcatel SA, according to people familiar with the matter. The Autorite...
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Syria solicits investment in its banks
Syria solicits investment in its banksBy Nadim Issa
The Wall Street Journal Europe
19 Dec 2006
BEIRUT, Lebanon—Syria hopes to increase foreign investment by easing rules on overseas ownership of banks, but analysts warn that the country’s tense relationship with the West is likely to keep a lid on any inflows. Adib Mayaleh, governor of the...
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Art troves add interest to Italy’s bank mergers
Art troves add interest to Italy’s bank mergersBy Stacy Meichtry
The Wall Street Journal Europe
18 Dec 2006
A wave of mergers is sweeping through Italy’s staid banking sector, creating global powerhouses—of fine art. The merger between Sanpaolo IMI SpA and Banca Intesa SpA, announced in August, will forge one of Europe’s largest banks, with a combined...
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Lloyd’s stresses technology in bid to gain efficiency
Lloyd’s stresses technology in bid to gain efficiencyBy Ian McDonald
The Wall Street Journal Europe
15 Dec 2006
LONDON—Long criticized for slapdash business practices, the storied Lloyd’s insurance market says it will keep trying to make it cheaper and easier to buy and sell insurance over the next three years. That is the upshot from the London market’s...
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Goldman Sachs unveils record earnings as the bonus season starts
French challenge ECB on exchange-rate role
French challenge ECB on exchange-rate roleBy Geraldine Amiel
The Wall Street Journal Europe
12 Dec 2006
PARIS—French Prime Minister Dominique de Villepin said the European Central Bank’s responsibility for exchange rates requires clarification and should be coordinated with euro-zone governments. Challenging the ECB’s statutory policy independence, Mr....
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Speculation mounts over Barclays takeover
Speculation mounts over Barclays takeoverJill Treanor
The Guardian
09 Dec 2006
Barclays was the subject of intense speculation yesterday that it could be taken over by Bank of America for 60bn in what would be one of the biggest ever deals in the financial services industry. Even the move by outgoing Barclays chairman Matt...
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Bank of New York to acquire Mellon
Bank of New York to acquire MellonBy Simon Kennedy And David Enrich
The Wall Street Journal Europe
05 Dec 2006
NEW YORK— Bank of New York Co. has agreed to buy Mellon Financial Corp. for about $16.5 billion in stock in a deal that will create one of the world’s largest custodians of financial assets and a top 10 assetmanagement firm. Executives said the...
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Banks hiding online fraud, say police
Banks hiding online fraud, say policeRupert Jones
The Guardian
05 Dec 2006
Banks and other financial institutions are deliberately failing to report incidents of online fraud to the police, possibly because they are worried about the potential damage to their reputations, a senior police officer said yesterday. The...
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