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RBS AND LLOYDS BANK PLAN TO BOLSTER CAPITAL
c.2013 New York Times News Service LONDON — Two of Britain’s largest banks outlined plans on Wednesday to increase their capital reserves after local authorities demanded recently that the country’s largest financial institutions raise a combined £25 billion ($38 billion). Royal Bank of Scotland and the Lloyds Banking Group, which ...
News Summary: Sony mulls hedge fund's spinoff idea
SPINOFF: Sony's CEO Kazuo Hirai says the electronics giant's board will discuss a proposal by U.S. hedge fund manager Daniel Loeb to spin off up to 20 percent of its movie, TV and music division. THE RATIONALE: Loeb said money from the sale could be used to shore up Sony's ...
News Summary: Weak yen a help for Japan's economy
BOON FOR JAPAN INC.: A steady fall in the value of the yen is proving a godsend for Japan's exporters, such as Toyota. The cheaper yen — it slipped below 100 to the U.S. dollar this month — is making their products more affordable overseas. ASIAN EFFECT: Japan's frequent trading ...
Weak yen a help for Japan, but headache elsewhere
A steady fall in the value of the yen is proving a godsend for exporters such as Toyota. The cheaper yen is making their products more affordable overseas. Japan's trading partners are generally pleased, too, even though the lower yen makes their exports relatively more expensive. As many see it, ...
FED STIMULUS STILL NEEDED TO HELP RECOVERY, BERNANKE SAYS
c.2013 New York Times News Service WASHINGTON — Despite recent improvement in the job market, the Federal Reserve needs to continue its stimulus efforts to avoid endangering the recovery, the Fed chairman, Ben S. Bernanke, told Congress on Wednesday. While acknowledging the risks of historically low interest rates and the ...
FED STIMULUS STILL NEEDED TO HELP RECOVERY, BERNANKE SAYS
c.2013 New York Times News Service WASHINGTON — Despite recent improvement in the job market, the Federal Reserve needs to continue its stimulus efforts to avoid endangering the recovery, the Fed chairman, Ben S. Bernanke, told Congress on Wednesday. While acknowledging the risks of historically low interest rates and the ...
Stocks surge as Bernanke retains dovish tone
Federal Reserve Chairman Ben Bernanke's signal that monetary policy will remain loose gave stocks another lift Wednesday, paving the way for many indexes to advance to new record highs. Following a run of upbeat U.S. economic news, largely related to housing and jobs, there had been talk in the markets ...
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NOON MOST ACTIVE STOCKS NEW YORK (AP) — Noon prices for NYSE listed most active stocks: SalesHighLowLastChg AKSteel 44532 3.78 3.59 3.70+.04 AT&TInc 1.80 118217 37.17 36.69 37.13+.19 AbtLabs .56 35484 38.73 37.71 38.66+.94 AMD 114391 4.10 4.01 4.06+.04 Alcoa .12 89994 8.88 8.74 8.82+.06 AlphaNRs 82796 7.41 7.09 7.24+.03 ...
Egypt bank releases $800 million for vital imports
The Central Bank of Egypt has conducted an exceptionally large foreign exchange auction, selling $800 million to banks with clients who urgently need U.S. dollars to pay for basic imports like wheat and materials for industry and medicine. The first such auction geared toward purchases of staple commodities was in ...
IMF calls on Britain to do more for growth
The International Monetary Fund has called on Britain to do more to support the economic recovery, urging the government Wednesday to speed up investment in infrastructure and come up with a plan to privatize its bailed out banks. In a review of Britain's policies, which had been hotly anticipated after ...
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