Warren Buffett“A public opinion poll is no substitute for thought.”
Adlin Sinclair“Success is a welcomed gift for the uninhibited mind.”
China banks absorbed $170 billion FX swaps in ‘09: report »
Chinese commercial banks absorbed about $170 billion in foreign exchange from the financial system last year, mainly through yuan-dollar swaps, state media on Wednesday cited a former official as saying.
The Shanghai Securities News cited Xu Shanda, former deputy head of the State Administration of Taxation, as saying that the State Administration of Foreign Exchange [...]
StanChart year profit tops $5 billion, strong January »
StanChart year profit tops $5 billion, strong January
STAN.L
) met expectations with a 13 percent jump in 2009 profit, as strong investment banking growth in its core Asian markets offset a jump in bad debts in the Middle East.
The bank said it would give bonuses to management, unlike many London-listed rivals, and pay [...]
Prudential confirms to buy AIG Asia for $35.5 billion »
Prudential confirms to buy AIG Asia for $35.5 billion
PRU.L
AIG.N
) Asian life insurance arm for $35.5 billion, making it the undisputed foreign leader in one of the world’s fastest-growing financial services markets.
The acquisition of AIA will be funded by a rights issue of $21 billion including costs and fees, the biggest ever [...]
AIG posts $8.9 billion loss on loan repay, reserves »
AIG posts $8.9 billion loss on loan repay, reserves
AIG.N
) reported a quarterly loss of $8.9 billion, hurt by loss reserves and efforts to repay the U.S. government, as it struggles to find its feet more than a year after its $182.3 billion rescue.
AIG’s general insurance unit, Chartis, and domestic life insurance and [...]
Zain expects return up to $5 billion from Bharti deal »
Shares in Kuwaiti telecoms firm Zain surge 9 percent after said it expects up to $5 billion in returns from its $10.7 billion deal with Bharti Airtel, after it pays off obligations.
“This (deal) will result in shareholders equity of around $9 billion. And after paying specific obligations, the company expects returns of a maximum [...]
Zain board approves $10.7 billion Bharti bid for Africa ops (Reuters) »
ZAIN.KW
BRTI.BO
), state news agency KUNA and a person familiar with the matter said on Sunday, in a deal valued at $10.7 billion.
in years and a turning point in the long-running saga around the third-biggest telecoms operator in the region.
“Bharti put forward the most compelling offer, but there were offers from others [...]
Toyota sees $2 billion hit from recall problems »
TOKYO/WASHINGTON (Reuters) – Toyota Motor Corp expects costs and lost sales from its largest ever safety recall to total $2 billion for the year to March, but raised its outlook after posting its strongest operating profit in six quarters.
Toyota’s recall of more than 8 million vehicles due to problems with unintended acceleration has punished [...]
BofA approved more than $4 billion for 2009 pay: report »
NEW YORK (Reuters) – Bank of America Corp has approved more than $4 billion in 2009 pay for its investment bankers and traders, according to the Wall Street Journal.
The payout is about 19 percent of the $23 billion in revenue the company made from its investment banking and capital markets divisions, according to the [...]
U.S. financial companies paid $145 billion in 2009: report »
U.S. financial companies paid $145 billion in 2009: report
NEW YORK (Reuters) – Total pay at U.S. banks and securities companies jumped nearly 18 percent to a record $145 billion in 2009, the Wall Street Journal estimated in an analysis published in its online edition on Thursday.
The analysis by the Journal shows that executives, [...]
The Belgian Debt agency raised EUR 5 billion in a new benchmark issue »
Wed, Jan 13 2010, 07:58 GMT
Stocks market indices worldwide turned south as China raised the banks’ reserve requirement, signalling a gradually scaling back of loose monetary conditions. The Dow/S&P declined 0.34%/0.94%.
The disappointing results from Alcoa and a plan of the Obama administration to raise a fee of up to $ 120 [...]