 |
02 Dec 2004 09:34 AM
|
|
|
ECB as expected left its main interest rate at 2%. Traders distrustful of intervention possibility:
|
|
|
The European Central Bank (ECB) as expected left its main interest rate at 2%. The growth estimates for the next year were trimmed to 1.9% from 2.3% and the inflation target was raised from 1.8% to 2%.
|
|
|
01 Dec 2004 08:46 AM
|
|
|
Deutsche Bank projected to slash 2,000 jobs in Germany:
|
|
|
Deutsche Bank AG may cut about 2,000 of its German jobs, or 7% of its workforce in Germany, to implement the plan of Chief Executive Officer Josef Ackermann of profit improvement. He has committed to cost reduction of 800 million euros ($1.06 billion) by late 2005. The plans may be announced today, according to an unidentified
|
|
|
30 Nov 2004 07:59 AM
|
|
|
The Bank of England plans a reform to reduce volatility:
|
|
|
The Bank of England has outlined a proposal for a radical reform to help smooth the swings in the interest rates between the regulators’ meetings. So far, the British short-term market has been known for extreme volatility, as one bank could influence the overnight rate, using the money it borrowed from the Bank of England and trading it at a rate that is different from the Bank’s official rate. Paul Tucker, Bank of England executive
|
|
|
29 Nov 2004 07:56 AM
|
|
|
The European Central Bank set to raise rates despite sluggish growth:
|
|
|
The ECB is likely to raise interest rates in a regular monthly policy meeting scheduled on Thursday. The key rate that is now at a historic low of 2% will probably be raised to combat inflationary pressures.
|
|
|
29 Nov 2004 07:45 AM
|
|
|
Mortgage approvals in the UK at five-year low:
|
|
|
Mortgage approvals in Britain hit a five-year low in October with just 83,000 home loans approved in a month, according to the data revealed by the Bank of England. The housing market has been steadily cooling down as the number of mortgage approvals has been declining since May.
Net
|
|
|
25 Nov 2004 07:27 AM
|
|
|
UFJ and MFT post weal results ahead of merger:
|
|
|
Mitsubishi Tokyo Financial Group and UFJ that plan to merge by October 2005 to form the world’s largest bank report dismal results for the first half-year of 2004.
MTFG’s profit dropped 43.1% from last year to 171.68 billion yen.
UFJ, the holding company of UFJ Bank and UFJ Trust Bank, showed a widened loss of 674.28 billion yen in the
|
|
|
24 Nov 2004 10:00 AM
|
|
|
Mortgage applications dropped 5.7% last week:
|
|
|
Mortgage applications dropped 5.7% in the week ended Nov. 19, Mortgage Bankers Association said today. On a seasonally adjusted basis, the refinancing index fell 8.3% while the volume of applications for mortgages
|
|
|
24 Nov 2004 09:05 AM
|
|
|
Securities traders are sure of the next rate hike:
|
|
|
The absolute majority of US securities dealers forecast another quarter-point rate hike in Fed’s Dec. 14 meeting. 20 of the 22 largest bond traders anticipate the Fed funds rate to jump to 2.25%.
There are many factors that could spur the Fed to continue its “accommodative” policy of rising rates at a “measured” pace that was declared in a statement released after the November meeting. Fed Governor Mark
|
|
|
23 Nov 2004 09:45 AM
|
|
|
ING will sell Baring to Mass Mutual and focus on “critical business”:
|
|
|
MassMutual has announced an intention to purchase Baring Asset Management with approximately $32 billion in managed assets from ING Group. ING acquired the Barings Bank in 1995 after its reputation was blemished by a crook trader.
Baring Asset Management will remain an independent unit and function separately from Babson Capital Management and Oppenheimer Funds that are also part of MassMutual. The company’s chairman Robert J. O'Connell announced that the deal "dramatically expands our international institutional money management business
|
|
|
19 Nov 2004 11:39 AM
|
|
|
Citigroup’s ex-top executive sees no commitment:
|
|
|
Citigroup’s top executive, dismissed last months in the light of Japanese scandal, Thomas W. Jones said it had been not fair to make him accountable for a scandal.
|
|
|
19 Nov 2004 11:02 AM
|
|
|
U.S. must cut budget gap, Greenspan warns:
|
|
|
To avoid painful economic consequences the U.S. must cut its budget deficit, Federal Reserve Chairman said Friday.
|
|
|
17 Nov 2004 09:35 AM
|
|
|
HBOS refuses to buy Irish banks:
|
|
|
HBOS does not want to buy two Irish banks owned by National Australia Bank.
|
|
|
17 Nov 2004 08:24 AM
|
|
|
ECB rate increase uncertain:
|
|
|
The European Central Bank is hesitating on whether lift the interest rate now after it seemed to have decided the move.
|
|
|
15 Nov 2004 11:20 AM
|
|
|
Lazard partners wary of IPO delay:
|
|
|
Lazard partners are getting furious about the delay in company’s initial public offering, people say.
Lazard Chairman Michel David-Weill has said he would accede to a $3 billion-plus listing of Lazard about three weeks ago. Partners are getting angry as they wait more from Mr. David-Weill who set a series of
|
|
|
15 Nov 2004 11:00 AM
|
|
|
HSBC to expand on Asia market by Newbridge stake in KFB:
|
|
|
HSBC Holdings PLC has an option to expand on Asian market within the purchase of Newbridge 49% stake in Korea First Bank.
"Newbridge
|
|
|
|
|
|
|