Banks News Updates
Kan Repeats Plea for Bank of Japan to Fight Deflation (Update2) (Bloomberg)
16 March 2010
March 16 (Bloomberg) -- Japanese Finance Minister Naoto Kan repeated a plea for the central bank to work with the government on reversing a decline in prices that threatens the economic recovery.
National Bank of Pakistan Aims to Tap ‘War Chest’ of Bad Debts (BusinessWeek)
15 March 2010
National Bank of Pakistan, the lender with the highest loan delinquency ratio in the nation, plans to boost profit by recovering more funds from borrowers as an economic slowdown and terror attacks damp growth prospects.
Deutsche Bank Buyout Unit’s Epley Said to Leave for Nomura Job (Bloomberg)
15 March 2010
March 16 (Bloomberg) -- Mark Epley , head of Deutsche Bank AG’s team that caters to private-equity firms, is leaving to take a job at Nomura Holdings Inc., said a person with knowledge of his plans.
Bank of Japan meet begins, considers fresh steps (AFP via Yahoo! News)
15 March 2010
Japan's central bank began a two-day monetary policy meeting Tuesday amid speculation it may announce fresh emergency measures to spur an economic recovery hobbled by deflation and weak demand.
Ex-bank president becomes first charged in bailout program fraud (USA Today)
15 March 2010
The former president of a small Manhattan community bank on Monday became the first person accused of trying to defraud the federal bailout program.
Former chief of Park Avenue Bank charged with TARP fraud (Washington Post)
15 March 2010
NEW YORK -- The former chief executive of a New York bank shut down by regulators last week was arrested Monday for attempting to steal from the taxpayer-funded bailout program, marking the first time criminal charges have been filed in connection with alleged abuse of the government's financial-rescue effort.
Ex-NY bank president first accused of TARP fraud (Reuters via Yahoo! News)
15 March 2010
The former president of New York's privately held Park Avenue Bank was arrested on Monday on fraud charges, the first person accused of attempting to steal U.S. government bailout funds in the financial crisis.
Financial reform efforts pit US against Europe - Ocala
16 March 2010
Financial reform efforts pit US against EuropeOcalaAnd the US and Europe seem far apart on such issues as how to oversee bank accounts and mortgages and whether banks can do proprietary trading. ...and more »...
Sugar a good bet despite dull market: Deepak Mohoni - Economic Times
16 March 2010
Sugar a good bet despite dull market: Deepak MohoniEconomic TimesThese would be good on the long side and if the market does not really take off, then there are some good shorts also in the offing, Bank of India, ...and more »...
Deutsche Bank chief gets over $13 million for 2009 - MarketWatch
16 March 2010
Deutsche Bank chief gets over $13 million for 2009MarketWatchThe bank said 70% of Ackermann's compensation is deferred and will disbursed at a later date depending on the future earnings of the group. ...and more »...
Colony resort dispute gets new players - Sarasota Herald-Tribune
16 March 2010
Colony resort dispute gets new playersSarasota Herald-TribuneLONGBOAT KEY - Two Longboat Key residents bought nearly $10 million in bank debt owed by the Colony Beach & Tennis Resort and hope to use ...
Nifty little-changed; BPCL, Reliance, HCL Tech up - Economic Times
16 March 2010
Nifty little-changed; BPCL, Reliance, HCL Tech upEconomic TimesHDFC Bank (-2.37%), Bharti Airtel (-1.60%), ITC (-1.35%), ACC (-1.11%) and Jaiprakash Associates (-1.01%) were amongst the top Nifty losers. ...and more »...
Orascom Telecom Posts Fourth-Quarter Loss on Riots, Tax Dispute - BusinessWeek
16 March 2010
Orascom Telecom Posts Fourth-Quarter Loss on Riots, Tax DisputeBusinessWeekEFG-Hermes, an Egyptian investment bank, had forecast a fourth-quarter loss of $26 million. Algerian tax authorities demanded in November that Orascom pay ...
Taiwan stocks rise; China rate outlook caps gains - Interactive Investor
16 March 2010
Taiwan stocks rise; China rate outlook caps gainsInteractive InvestorHowever the central bank governor said on Sunday that it was not high enough to force a change in strategy. (For more on China's economy, see) A looming ...and more »...