Banks News Updates
Wachovia Bank Agrees to Pay $160 Million in Deferred Prosecution Agreement (Law.com via Yahoo! Finance)
18 March 2010
Wachovia Bank has agreed to pay $160 million to the federal government to resolve a charge that the bank willfully failed to effectively monitor for potential money-laundering activity in hundreds of billions of dollars in transactions with Mexican currency exchange houses, the Justice Department announced Wednesday.
Sorouh Price Estimate Cut to 3 Dirhams at Deutsche Bank (Bloomberg)
17 March 2010
March 18 (Bloomberg) -- Sorouh Real Estate PJSC, Abu Dhabi’s second-biggest property developer by market value, had its price estimate cut to 3 dirhams from 4.3 dirhams at Deutsche Bank AG.
Sub-Saharan African Economic Growth May Quicken, World Bank Says (Bloomberg)
17 March 2010
March 18 (Bloomberg) -- Sub-Saharan Africa’s economy may expand 3.8 percent this year compared with 1.1 percent last year as the “acute phase” of the global economic crisis has ended, said Andrew Burns, manager of the World Bank’s Development Prospects Group.
CFC Stanbic Bank FY Profit Rises 6% to 794.69 Million Shillings (Bloomberg)
17 March 2010
March 18 (Bloomberg) -- CFC Stanbic Bank, the Kenyan unit of Standard Bank Group Ltd., said full-year profit climbed 6 percent as loans to customers increased.
ANZ Bank Business Loans Grow for First Time in a Year (Update1) (Bloomberg)
17 March 2010
March 18 (Bloomberg) -- Australia & New Zealand Banking Group Ltd. , Australia’s third-largest bank, said corporate lending is increasing for the first time in a year as the strengthening domestic economy bolsters business confidence.
Deutsche Bank Becomes China Hua Xia Bank's Largest Shareholder (Fox News)
17 March 2010
Deutsche Bank Becomes China Hua Xia Bank's Largest Shareholder...
BofA CEO says the bank 'missed the mark' (AP via Yahoo! News)
17 March 2010
Bank of America CEO Brian Moynihan conceded Wednesday that the company made a series of missteps during the credit crisis and recession that hurt its relationship with shareholders and customers.
Stark selected for Delaware's US District Court - The News Journal
18 March 2010
Stark selected for Delaware's US District CourtThe News JournalStark denied bail to David T. Matusiewicz, a Newark optometrist charged with defrauding a bank out of $249000, then abducting his three daughters and taking ...and more »...
Transferring Technology to Transform China-Is It Worth It? - American Chronicle
18 March 2010
Transferring Technology to Transform China-Is It Worth It?American ChronicleThe World Bank's Worldwide Governance Indicators project has consistently ranked China in the forty-fifth percentile with respect to rule of law, ...
Gerakan setting up Blood Donor Pool - Daily Express
18 March 2010
Gerakan setting up Blood Donor PoolDaily Express... during shortages from the Queen Elizabeth Hospital's blood bank, said Sabah Gerakan Youth Chief Chang Shui Kiong in a statement here, Wednesday. ...
Asia Is Mixed; Nikkei, KOSPI End Lower - CNBC
18 March 2010
Asia Is Mixed; Nikkei, KOSPI End LowerCNBCKB Financial Group fell 1.3 percent, Shinhan lost 2.8 percent and Korea Exchange Bank (KEB) shed 2.1 percent. Retailers came under pressure. ...and more »...
Jobs safeguarded at Ford in Essex - Daily Gazette
18 March 2010
Jobs safeguarded at Ford in EssexDaily Gazette... projects through its Automotive Assistance Programme, backing a proposed loan of £450 million which is being considered by the European Investment Bank. ...
Emerging-Market Stocks Fall on Valuation Concern; Tencent Drops - Bloomberg
18 March 2010
Emerging-Market Stocks Fall on Valuation Concern; Tencent DropsBloombergTencent Holdings Ltd., China's largest Internet company by market value, fell after Deutsche Bank AG downgraded the stock. Indonesia's PT Bank Central Asia ...and more »...
US SEC says Lehman report will be helpful - Reuters India
18 March 2010
US SEC says Lehman report will be helpfulReuters IndiaShe was asked what the SEC was doing to investigate Lehman Brothers and its auditor, Ernst & Young, after a report found the investment bank used accounting ...