By ASSOCIATED PRESS January 26, 2012 9:16AM In this Jan. 25, 2012 photo, traders Thomas Kay, left, Marshall Ryan, center, and Robert McQuade work on the floor of the new York Stock Exchange. World stock markets rose on Thursday, Jan. 26, after the U.S. Federal Reserve pledged to keep interest rates low until late 2014 …
Tag Archive: financial crisis
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Jan
28
team resources – The Western Producer
January is a good time to look at our finances and make resolutions to spend less, follow a budget more or start saving. With the financial crisis occurring in other countries and reports of large consumer debt in Canada, there has been a move to recognize that we need to be more informed about money …
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Jan
26
Russia’s Largest Bank Stands Ready to Benefit From Europe’s Woes
By David Enrich Europe’s financial crisis isn’t bad news for everyone. Russia’s largest bank, Sberbank, is poised to take advantage of the instability, a senior executive says. For euro-zone banks in Russia, “it’s becoming quite difficult for them to lend,” said Todd Berman, the new head of investment banking at Troika Dialog, which last year …
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Jan
22
RBS takes the axe to loss-making units and 3,500 more jobs
The state-owned Royal Bank of Scotland took an axe to its investment banking arm yesterday with up to 3,500 job cuts and a sell-off of loss-making businesses, moves hailed by the City as good news for the taxpayer. Its chief executive Stephen Hester, who is under pressure from the Chancellor, George Osborne, to cut back …
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Jan
21
Euro debt ‘toxic,’ like 2008 subprime mortgage bonds
(Source: Tulsa World) – European sovereign debt has just about the same status that was bestowed on subprime mortgage bonds during the depths of the financial crisis, says Anthony Crescenzi of Pacific Investment Management co. “It’s almost like 2008, when, in the United States, banks and investors didn’t want to be seen as having holdings, …
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Jan
14
Carlyle launches new financial firms buyout fund
(Reuters) – the Carlyle Group CYL.UL has started fundraising for a new global financial services buyout fund that is seeking to top its previous $1.1 billion fund, which is now almost fully invested, a person familiar with the matter said on Tuesday. With about 90 percent of its first financials buyout fund spent, the private …
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Jan
08
Experts: Rating Agencies Need to be Smarter in Evaluating Investments
Last Updated: January 4, 2012 05:01pm ET SPECIAL REPORT LOS ANGELES-Credit ratings are used by investors, issuers, investment banks, governments and broker-dealers. For investors, these rating agencies increase the range of investment alternatives and provide measurements of relative credit risk. But over the years, especially after the 2007-2009 financial crisis, and more recently, ratings downgrades …
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Dec
14
The Fed Takes on Bloomberg's Report of Massive Pre-Bailout Loans
In a long letter to Congress, the Federal Reserve denies the details of "recent press reports" on its doling out trillions of dollars in secret, emergency loans given to the big banks during the financial crisis, but he doesn't deny giving away a lot of money. Pointing to "a variety of egregious errors and mistakes" …
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Dec
07
Europe Must Move Fast to Stem Losses, Weinberg Says: Tom Keene
December 06, 2011, 2:33 AM EST By Cordell Eddings and Tom Keene Dec. 5 (Bloomberg) — European policy makers must quickly take more coordinated fiscal and monetary action to head off major losses by banks amid the region’s sovereign-debt crisis, according to Carl Weinberg of High Frequency Economics. Officials “have to find a way to …
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Dec
05
UPDATE 2-Bank of Spain does not rule out creation of bad bank
21:22, Thursday 1 December 2011 * all options on table for bank reform * Minimal public money should be used * Incoming (OTC BB: ICNN.OB – news) government meets private investors (Adds details, background) Dec 1 (Reuters) – all possibilities are open regarding thereform of the country’s banking sector including the creationof a bad bank, …
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