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23 Sep 2004 10:28 AM
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Bank of Communications’ IPO predicted to $2 billion:
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China’s fifth biggest lender Bank of Communications says this year initial public offering of the institution will bring up to $2 billon.
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23 Sep 2004 09:53 AM
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Bush fails to collect federal income tax:
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At least one year of Bush administration was marked by the fact that several large nation’s corporations managed to avoid federal income tax paying, a new survey unveiled.
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23 Sep 2004 08:13 AM
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SEC’s probe over Fannie Mae:
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Fannie Mae is accused by SEC for violation of accounting principles and now faces SEC’s informal investigation.
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22 Sep 2004 09:18 AM
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What’s next? Fed lifts rate by quarter point:
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On all-but-certain estimations the U.S. Federal Reserve raised its short-term interest rates by 25 basis points on Tuesday showing the U.S. economy expands.
Fed raised interest rates to 1.75% from the previous 1.5% despite of coming presidential elections on November 2. Specialists say it is not the last increase of the interest rate for 2004, the next and the last one is expected
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22 Sep 2004 05:33 AM
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Fed lifted interest rate by 25 basis points:
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On Tuesday, the U.S. Federal Reserve lifted its short-term interest rates by 25 basis points, showing the U.S. economy expands.
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21 Sep 2004 09:23 AM
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Fed to lift interest rate: FOMC:
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On Tuesday, during FOMC meeting U.S. Federal reserve is expected to lift its short-term interest rate by 25 basis points to 1.75% from 1.5% despite of coming presidential elections and slight softness in the economy.
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21 Sep 2004 08:13 AM
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Citigroup cooperates with ACORN: home loans more available:
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Citigroup, the world’s biggest bank, is having an option to cooperate with and the Association of Community Organizations for Reform Now (ACORN) to make lending practices easier.
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20 Sep 2004 09:29 AM
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Dollar rises on Fed lifting rates:
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On Tuesday, U.S. Federal Reserve is said to raise its short-term interest rates to 1.75% point from the previous record of 1.5%. This event will play first fiddle in further market functioning, analysts say.
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20 Sep 2004 08:22 AM
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Top banks show back results:
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Recent research showed that banks’ revenue is not completely highlighted in banking league tables based upon value of deals.
It was proved that sometimes banks prefer unprofitable deals only to close to No.1 in the table. That makes figures
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20 Sep 2004 07:18 AM
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Citigroup loses its private bank in Japan:
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Citibank, a Japanese private bank of Citigroup, will be closed as FSA investigation showed several breaches in the work of the world’s biggest bank by market value.
The breaches mainly contain misleading clients of the investments risks, forcing customers to purchase some instruments
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17 Sep 2004 10:02 AM
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MTFG/UFJ merger heads to end:
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MTFG says the process of fighting with rival company SMFG to merge with Japan fourth biggest bank UFJ comes to its happy end.
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17 Sep 2004 09:04 AM
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Citibank accused, regulators angry:
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U.S. Citigroup’s Japanese banking unit is accused of mishandling customer data and combining trust banking, securities and insurance services in one private unit.
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17 Sep 2004 07:32 AM
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SEC probe on bond operations:
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U.S. Securities and Exchange Commission is conducting a probe on whether top banks of the U.S. violated the rules in their auction-rate bond operations, it says.
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15 Sep 2004 10:36 AM
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Citigroup regrets of transaction:
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Seoul-based Citigroup in its internal memo disclosed regret about the transaction that had an impact on the European sovereign bond market. The memo targets at soothing regulators.
"Citigroup is having a difficult time at the moment. Everyone is criticising them and this is testimony to what they
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15 Sep 2004 08:40 AM
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Mortgage applications see decline:
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The prior week, U.S. mortgage applications dropped to their lowest since March, specialists say.
30-year mortgage rates fell 0.11 percentage point to 5.68% against the prior week results. This is 0.23 percentage point lower than the year-ago record. This result is the weakest since the end-March 5.49%.
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