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15 Sep 2004 06:15 AM
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HBOS has no option for Abbey:
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HBOS, the UK No.4 bank, said it had no option to bid for Abbey National, the second-largest mortgage lender in Britain. Instead, takeover bid for Abbey is expected from Santander Central Hispano of Spain.
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14 Sep 2004 07:50 AM
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G10 said global economy grows:
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The G10 bankers said on Monday at the meeting in Basel, Switzerland, that global recovery keeps its pace in the third quarter.
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14 Sep 2004 04:33 AM
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Fed to raise funds rate to 1.75%:
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Federal funds rate will probably be raised to 1.75% from 1.5% as soon as next week. Thus the U.S. Federal Reserve is trying to take the first step of two-stage plan of returning rates to normal condition.
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13 Sep 2004 04:39 AM
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UFJ losses boost:
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UFJ, Japan fourth-biggest bank, suffer losses accounting for 780 billion yen ($7.1 billion) for the six months to September.
To cope with its bad loans, it will receive an injection of as much as $6.4 billion from its probable merge partner MTFG.
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10 Sep 2004 08:02 AM
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UFJ directors split on MTFG merger:
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The United Financial of Japan saw a split in its board as three outside directors are not sure about the expected merge with MTFG.
Three against four consider before the merger UFG should pay attention to the rival proposal made by SMFG. Four executive
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10 Sep 2004 05:43 AM
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Fed won’t stop rate rise:
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Federal Reserve has no intention to recess interest rate rise despite of oil prices jump, it says.
Fed Governor Mark Olson said despite gasoline prices in the U.S. have slashed from recent highs, they are not likely to fall substantially soon. Still, U.S. economy is not so much dependent on the fuel, he added. "We are less
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09 Sep 2004 10:01 AM
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ECB insists on strong vigilance:
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The European Central Bank considers “strong vigilance” to absolutely important in guaranteeing inflation drop as soon as next year down to 2%.
This can be fulfilled because of eurozone economic recovery and the growth of oil prices. “While the economic
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09 Sep 2004 08:44 AM
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Deutsche Bank cuts costs:
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On Wednesday, Deutsche Bank chief executive Josef Ackermann said he could restructure bank and cut costs to hit ROE target as soon as next year.
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09 Sep 2004 08:34 AM
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BoE leaves interest rate still:
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The Bank of England has left its interest rate at the same level of 4.75%.
Top analysts predict this level to hike before the end of the year, but some of them say 4.75 percentage point to the peak
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09 Sep 2004 03:04 AM
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Greenspan shows buoyant outlook:
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The U.S. Federal Reserve Chairman Alan Greenspan’s testimony on Wednesday sounded quite optimistic with more upbeat on business investment.
“Despite the rise in oil prices through mid-August, inflation and inflation expectations have eased in recent months
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08 Sep 2004 11:13 AM
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U.S. Treasuries can slid:
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Specialists predict U.S. Treasury notes to slide in London as Fed Chairman Alan Greenspan can say in his testimony before the House Budget Committee that Fed will increase borrowing costs.
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08 Sep 2004 04:18 AM
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U.S. home-price growth to slow:
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The expected interest rates rise may cause U.S. home-prise appreciation to slow with the impact on economic growth, reported Freddie Mac and Fannie Mae.
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07 Sep 2004 04:44 AM
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Cazenove considers merger:
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One of the oldest UK banks Cazenove is considering the offer of two U.S. investment banks, people say.
The bank received a proposal from J.P. Morgan Chase & Co on a joint venture and from Lehman Brothers on a takeover.
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06 Sep 2004 07:20 AM
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Monti’s remarks on bid for Abbey:
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The European Union competition commissioner Mario Monti has said recently that European Commission would approve Santander Central Hispano’s bid for Abbey National. The remark has led to different comments.
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06 Sep 2004 02:52 AM
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Greenspan’s testimony to draw global economy:
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Next week Fed Chairman Alan Greenspan will speak before the Congress. This speech is expected to be the key factor for global markets, specialists say.
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