Asia stocks edge up but growth fears linger

Posted by Financial Market News on July 31st, 2008

Morning sunlight shines on the front of the New York Stock Exchange July 29, 2008.

HSBC-KEB deadline passes

Posted by Financial Service News on July 31st, 2008

The deadline has passed for British bank HSBC's 3.1 billion pound offer to buy control of Korea Exchange Bank from the U.S. private equity firm Lone Star Funds, HSBC said on Thursday, raising the prospect that ...

U.S. stocks mixed, blue chips dive, techs hold steady

Posted by Financial Market News on July 31st, 2008

U.S. stocks were mixed Thursday with techs holding their own, while the blue chip indices fell.

Mass. regulators accuse Merrill Lynch of fraud

Posted by Financial Service News on July 31st, 2008

Massachusetts security regulators accused Merrill Lynch of fraud Thursday for allegedly promoting the sale of auction-rate securities when they knew the investments were becoming increasingly unstable.

NZ Shares: Warehouse down 16pc early, but wider market gains

Posted by Financial Market News on July 31st, 2008

Shares in retailer The Warehouse tumbled when the stock exchange opened today, following a Court of Appeal decision preventing takeover bids by Woolworths and Foodstuffs.

Former Bear Stearns CEO to leave JPMorgan post

Posted by Financial Service News on July 31st, 2008

Alan Schwartz, the Bear Stearns chief executive who was forced to sell the investment bank to JPMorgan Chase & Co., will leave the banking company at the end of the summer, according to an internal memo ...

Deutsche Bank Writedowns Exceed Estimates; Ackermann Says He’s `Cautious’

Posted by Financial Service News on July 31st, 2008

Deutsche Bank AG reported a bigger- than-estimated 2.3 billion euros of debt writedowns in the second quarter and Chief Executive Officer Josef Ackermann said he ``remains cautious'' on the rest of the year.

Stocks close higher

Posted by Financial Market News on July 31st, 2008

The Australian share market closed firmly in the black for the second consecutive day, driven by a positive US lead and higher prices overnight for copper, nickel and oil.

National Australia Names Clyne CEO, Replacing Stewart, After Credit Losses

Posted by Financial Service News on July 31st, 2008

National Australia Bank Ltd. promoted Cameron Clyne to chief executive officer, replacing John Stewart after swelling credit-market losses triggered the worst share slump in 21 years.

Thaksin’s wife found guilty of tax evasion, gets three years in prison

Posted by Financial Market News on July 31st, 2008

The wife of ousted Thai Prime Minister Thaksin Shinawatra was found guilty Thursday of evading millions of dollars in taxes and sentenced to three years in prison.


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