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Banking News - Get the Latest News Headlines Related to Banks and the Banking SectorSubmitted by Stock Market Insider on Wed, 2006-11-29 12:57.
Stay updated with the latest news in the Banking sector. Stock Market Latest is featuring the latest banking news from major news sources and publishers. Telephone based banking services to check irregularities in NREGA wage paymentsThe Ministry of Rural Development decided upon using telephone based banking services which would be easily accessible to the workers even in the remote areas of the country for checking irregularities in the payment of wages and to safeguard rights of Need Help with DIACAP? Choose the DIACAP experts! - Sponsored LinkAd - We provide EXPERT DIACAP Training, Consulting, and Testing! Free estimates on all engagements! ">Orick looking at Citigroup CenterLaw firm Orrick, Herrington & Sutcliffe LLP, who is said to be scanning the market for somewhere between 150,000 to 200,000 square feet, has been poking around the Citigroup Center sources say, where the building?s namesake tenant is quietly Saturday Papers: Bank likely to leave rates unchanged this week -- other newsLeague Table News Factsheet 3. Audrey Ryan League Table News Factsheet 4. John Chatfeild-Roberts League Table News Factsheet 5. Harsha Patel League Table News Factsheet 1. Martin Currie Portfolio Invest News Factsheet 2. Bradford & Bingley PLC News NBAD, Bank of Tokyo in $626m IPIC loan dealNational Bank of Abu Dhabi (NBAD) said on Saturday it will arrange with Bank of Tokyo-Mitsubishi UPJ a Dh2.3 billion ($626.2 million) loan to Abu Dhabi's International Petroleum Investment Company (IPIC). The loan will finance IPIC's acquisition of a 20 China Merchants Bank forecasts doubled H1 net profitExtract not available. DCB, HDFC Bank looks interesting: E MathewThe requested URL /india/news/stocks-views/dcb-hdfc-bank-looks-interesting-e-mathew/18/11/345596 was not found on this server. Fitch downgrades Corporation Bank`s ratingFitch Ratings has downgraded Corporation Bank's (SB) individual rating to 'C/D' from 'C'. The agency has affirmed CB's support rating at '4'. In the past, CB had the highest level of capitalisation among Indian banks and reported above average American Express Launches New Ad Spot with Tina Fey, Martin ScorseseTagged: Advertising ? American Express ? Business ? Martin Scorsese ? Tina Fey New Television, Print Highlight Unique Benefits of Traveling with the Platinum Card® from American Express NEW YORK, July 02, 2008 -- Today, American Express Bank of America Corporation Completes Countrywide Financial PurchaseTagged: Acquisitions ? Bank of America ? Business ? Countrywide Financial ? Kenneth Lewis ? Mortgages ? Subprime lending CHARLOTTE, N.C., July 1, 2008 -- Bank of America Corporation today completed its purchase of Countrywide Financial Corp. Banks, boy bands and fraud: pearlman(Chicago Tribune (KRT) Via Acquire Media NewsEdge) Jul. 5--It's not every day that the worlds of Chicago banking and boy bands collide. But on July 16 in a federal courthouse in Orlando, a restitution hearing in the case of Lou Pearlman--who in his SocGen fined over trading scandalFrance's central bank announced Friday that it has fined Societe Generale $6.3 million for 'serious shortcomings' in its internal controls that led to nearly $7.8 billion in trading losses announced earlier this year. The Bank of France's banking Muggers lurking in the shadow banking systemAfter another dreary week in the global markets, marked by thinning volumes and deepening gloom about everything from the state of various economies and the shaky health of the financial heavyweights to the future of commodities, it was no time to seek Societe Generale fined 4 million euros for rogue trader UPDATE(Adds detail) PARIS (Thomson Financial) - France's banking regulator Friday fined Societe Generale 4 million euros over 'grave deficiencies' in its internal controls that enabled a massive rogue trade scandal at the bank. The banking commission said in a Iran's inflation rate 21%, liquidity $174b, Central Bank saysTEHRAN, July 4 (Mehr News Agency) ? Central Bank of the Islamic Republic of Iran put the inflation rate for the fiscal year ended June 20, 2008 at 20.7 percent. According to a CB report, the country's liquidity amounted to some $174 billion by April Bank lending grows at record pace in May(SINGAPORE) Bank lending accelerated in May to its fastest pace on record, led by continuing strong growth in loans to the property sector and a pick-up in lending to financial institutions, the latest figures from the Monetary Authority of Singapore Axis bank to add 210 branchesKOCHI: The private sector Axis bank proposes to add 210 branches nationally this fiscal of which 52 would be in the southern states, a top bank official today said. The bank has at present 699 branches in the country, including 171 in the southern SocGen fined over trading scandalPARIS - France's central bank announced Friday that it has fined Societe Generale $6.3 million for 'serious shortcomings' in its internal controls that led to nearly $7.8 billion in trading losses announced earlier this year. The Bank of France's banking Axis bank to add 210 branches this fiscalKochi (PTI): The private sector Axis bank proposes to add 210 branches nationally this fiscal of which 52 would be in the southern states, a top bank official said on Saturday. The bank has at present 699 branches in the country, including 171 in the European exchanges post sharp falls on banking sector concernsLONDON: European stock exchanges suffered sharp falls yesterday on fresh fears for the health of the banking sector sparked by a report from Goldman Sachs. The US investment bank said in a note it had lowered its 2008-2010 forecasts for more than 40 Axis Bank to add 210 branches this fiscalat 1526 hrs The private sector Axis Bank proposes to add 210 branches nationally this fiscal of which 52 would be in the southern states, a top bank official said. The bank has at present 699 branches in the country, including 171 in the southern states. Banks: Everything must go!If it's not bolted down, you can bet that troubled financial firms are thinking of putting a price tag on it. There has been plenty of talk lately about how the nation's largest banks and securities firms are looking to shed some of their assets. Earlier UBS Says It May Avoid Quarterly Loss on Tax CreditsUBS AG, the European bank hardest hit by the U.S. subprime crisis, said it may avoid a loss in the second quarter after about 3 billion Swiss francs ($2.9 billion) in tax credits. UBS rose as much as 8.2 percent in Swiss trading after the Zurich-based Muggers lurking in the shadow banking systemExtract not available. Need Help with DIACAP? Choose the DIACAP experts! - Sponsored LinkAd - We provide EXPERT DIACAP Training, Consulting, and Testing! Free estimates on all engagements! TD Bank to slash Q3 profits after uncovering multi-million dollar trading scandalToronto-Dominion Bank, which has escaped blemish-free from the credit-crunch, has been hit by a multi-million dollar trading scandal in the London branch of TD Securities. The bank said third-quarter profits will be slashed by $96-million after problems Societe Generale fined 4M over rogue trader dealsPARIS - France's banking regulator Friday fined Societe Generale 4-million ($6.4-million) over 'grave deficiencies' in its internal controls that enabled a massive rogue trade scandal at the bank. The banking commission, imposing a financial penalty at U. K. bank needs cash after U. S. deal failsRelated Topics Story Tools -+ Change font size Share This Story Story tools presented by LONDON - Bradford&Bingley yesterday increased its rights issue to £400-million ($794-million) after U. S. investor TPG Capital pulled out of buying a stake as Austrian court convicts nine bank fraudstersNine people have been convicted of criminal charges in a major Austrian bank fraud case. The case was linked to the 2005 collapse of New York-based commodities brokerage Refco Inc and BAWAG, Austria's No. 4 bank. A Vienna Federal Court Judge found the French regulator fines Societe Generale for rogue tradeFrance's banking regulator Friday fined Societe Generale four million euros (6.3 million dollars) over 'grave deficiencies' in its internal controls that enabled a massive rogue trade scandal at the bank. The banking commission, imposing a financial Gold likely to regain US$1,000 per oz. by year-end, Citigroup saysAutoServiceWorld.com Bodyshop Broadcaster Building Canadian Interiors Cabling Networking Systems Canadian Architect Canadian Industrial Equipment News Canadian Underwriter Canadian Consulting Engineer Canadian Plastics Canadian Mining Journal Canadian Saturday Papers: Bank likely to leave rates unchanged this week -- other newsExtract not available. Saturday Papers: JC Flowers looking closely at bombed-out banks -- bid news and gossipExtract not available. Bank fined over $7.8B rogue trader scandalNightly News PARIS - France's central bank announced Friday that it has fined Societe Generale $6.3 million for 'serious shortcomings' in its internal controls that led to nearly $7.8 billion in trading losses announced earlier this year. The Bank of DPM urges banks to fund power plantsHA NOI - Deputy Prime Minister Hoang Trung Hai yesterday asked State-owned commercial banks to provide sufficient loans for the ongoing construction of electricity plants as severe electricity shortages loomed on the horizon. Hai also said banks should Deutsche Bank Changes EPS Estimate of NATIONAL CITY CORP: Current Recommendation is BuyCompany: NATIONAL CITY CORP Report Headline: 'National City: 2Q08 Preview' Report Date: July 02, 2008 Current FY EPS Estimate [FY2008]: -0.80 Previous EPS Estimate for Current FY [FY2008]: -0.09 Current Quarter EPS Estimate [Q3]: -0.12 Previous EPS China Merchants Bank forecasts doubled H1 net profit (2008-07-04 Xinhua English)BEIJING, July 5 (Xinhua) -- China Merchants Bank (CMB) said its unaudited net profit for the first half of this year would more than double compared with 6.12 billion yuan (886.96 million U.S. dollars) in the first half of 2007. The rise was driven by Saturday Papers: JC Flowers looking closely at bombed-out banks -- bid news and gossip* JC Flowers is looking closely at Britain's bombed-out banking sector with a view to swooping on weakened targets -- Telegraph * European Union opens in-depth inquiry into BHP Billiton's proposed acquisition of Rio Tinto * Takeover Panel gives Regis UBS raises miners' price targetsDespite expectations that prices for both gold and silver will be lower in 2009 than they are this year, UBS has upgraded its forecasts for several metals through 2010. The Swiss financial services firm now expects gold will average US$895, US$800 and Saturday Papers: Bank likely to leave rates unchanged this week -- other news* Bank of England likely to leave interest rates unchanged at 5% next week, according to analysts, as inflation and growth risks remain balanced * FTSE 100 index closes at its lowest since November 2005 as it threatens to join counterparts in Asia, US Central Bank descends on staff- The Bank of Ghana says it will henceforth come down hard on recalcitrant workers who decide to strike against it. According to the Central Bank, the Labour Act 207, Li 1833, which discusses the regulator of the banking industry as an essential service Bank loan defaulters bookedExtract not available. Bank of Baroda to offer wealth management servicesBank of Baroda (BoB) is planning to offer wealth management services in the United Arab Emirates (UAE) and has joined hands with Reliance Mutual Fund (RMF), reports Business Standard. This is the first step towards offering wealth management services. Rogue trader bank fined for carelessnessFrance's central bank has fined Societe Generale $6.3 million for shortcomings in its internal controls. The Bank of France's banking commission also issued a formal warning to SocGen, after its US$7.8 billion in trading losses. The commission's ruling Austrian court convicts nine bank fraudstersNine people have been convicted of criminal charges in a major Austrian bank fraud case. The case was linked to the 2005 collapse of New York-based commodities brokerage Refco Inc and BAWAG, Austria's No. 4 bank. A Vienna Federal Court Judge found the Credit Mutuel of France bids for CitigroupCredit Mutuel of France has bid for the German retail banking activities of US giant Citigroup. The sale of the unit, valued by analysts at between three and five billion euros, should be completed by the end of July. Credit Mutuel's chief competitor in Banks agree to financing in huge BCE takeoverTORONTO -- Telecom giant BCE Inc. has cleared the financing hurdle widely seen as the last major step in completing its $52-billion acquisition by the Ontario Teachers' Pension Plan in the largest corporate takeover in Canadian history. The Montreal TD trader loses bank $96 million on bad dealsTORONTO -- Toronto-Dominion Bank disclosed Friday a $96-million loss caused by 'incorrectly priced' financial investments at its operations in London. Canada's second-biggest bank by assets said the employee involved at its TD Securities arm 'is no Greece: Goldman Cuts Targets on ALL Greek banksPiraeus Bank: Neutral. PT reduced to 20.2 from 24.5 Euro National Bank of Greece: Neutral. PT reduced to 34.0 from 40.0 Euro Greek Postal Savings Bank: Buy. PT reduced to 13.0 from 14.4 Euro EFG Eurobank: Neutral. PT reduced to 17.0 from 21.0 Euro Alpha Greece: National Bank 1H net profits seen EUR 825M-835M- sourcesNational Bank of Greece first half net profits are seen between EUR 825 million and EUR 835 million, showing a drop of 5% versus EUR 878 million in the respective period of 2007, banks' sources said. Excluding one-offs of EUR 108 million in the first Bank walkers brave gales to raise 85,000CITY-BASED employees of HBoS braved rain and 70mph winds to help raise 85,000 for charity on the Isle of Man Parish Walk. They joined 1600 walkers to help Age Concern, CLIC Sargent and Diabetes UK.Nine employees from Edinburgh took part in the gruelling AIB claims most files in landfill site are illegibleAIB MOVED to reassure customers concerned about privacy yesterday after old files were found at a former landfill site in Co Cork, saying that most of the material recovered was shredded or illegible upon recovery. The bank was informed on Thursday that Bank fined over $7.8B rogue trader scandalPARIS - France's central bank announced Friday that it has fined Societe Generale $6.3 million for 'serious shortcomings' in its internal controls that led to nearly $7.8 billion in trading losses announced earlier this year. The Bank of France's banking France's central bank announced Friday that it has fined Societe Generale $6.3 million for "serious shortcomings" that led to nearly $7.8 billion in trading losses announced earlier this year.PARIS - France's central bank announced Friday that it has fined Societe Generale $6.3 million for 'serious shortcomings' in its internal controls that led to nearly $7.8 billion in trading losses announced earlier this year. The Bank of France's banking Struggling UBS looks to 1.9bn tax bail-outUBS, the European bank most affected by the US subprime crisis, surprised the market yesterday by saying it may be saved by a 3bn Swiss francs (1.9bn) tax credit from posting a loss in the second quarter. Some analysts estimated the Swiss bank, which has R700 000 internet banking blowExtract not available. Need Help with DIACAP? Choose the DIACAP experts! - Sponsored LinkAd - We provide EXPERT DIACAP Training, Consulting, and Testing! Free estimates on all engagements! Need Help with DIACAP? Choose the DIACAP experts! - Sponsored LinkAd - We provide EXPERT DIACAP Training, Consulting, and Testing! Free estimates on all engagements! PayPal Marks Successful 10 Years OnlineSAN JOSE, Calif. -- The need was direct: how to facilitate the exchange of money and goods between a consumer and an online merchant. The concept was simple: A service that would allow the shopper to purchase an item without sharing financial eBay still 'forcing' sellers to use PayPaleBay is surreptitiously strong-arming its users into embracing PayPal despite publicly announcing it has shelved plans to block other payment methods. Although eBay yesterday backed down on plans to lock out paying by money order, direct bank deposits eBay jettisons controversial PayPal planeBay has pulled the pin on its controversial plan that would have forced all Australian users into using PayPal. Only last week eBay said its PayPal changes -- which would require all bidders and sellers to use PayPal or COD as a payment method -- had eBay jettisons controversial PayPal planeBay has pulled the pin on its controversial plan that would have forced all Australian users into using PayPal. Only last week eBay said its PayPal changes -- which would require all bidders and sellers to use PayPal or COD as a payment method -- had Need Help with DIACAP? Choose the DIACAP experts! - Sponsored LinkAd - We provide EXPERT DIACAP Training, Consulting, and Testing! Free estimates on all engagements! Need Help with DIACAP? Choose the DIACAP experts! - Sponsored LinkAd - We provide EXPERT DIACAP Training, Consulting, and Testing! Free estimates on all engagements! European markets fall, led by banks and airlines - European commentaryas financial stocks slipped after Goldman Sachs said European banks may need to raise as much as $141 billion to keep their financial ratios at current levels and near record high crude oil prices battered airline stocks. Trading was subdued, as the U.S. An activity-filled summer with Laurentian BankAttention News/Assignment Editors MONTREAL, July 4 /CNW Telbec/ - All summer long, Laurentian Bank is using its energy and enthusiasm to participate in various activities and festivities throughout Quebec. The Bank will reinforce its desire to be close Realty Executives Southern Arizona, Wells Fargo Home Mortgage Announce New Redington Home LoansThe new venture will offer clients a wide range of home-financing products and services available from Wells Fargo Home Mortgage, including industry-leading options for first-time homebuyers and loan products for high-end clients. The venture will use Delwar accuses govt of bias against BNP BNP leader Khandaker Delwar Hossain Friday accused the caretaker government of applying double standards in its treatment of rival political parties BNP and the Awami League. More...Dhaka, July 4 (bdnews24.com)? BNP leader Khandaker Delwar Hossain Friday accused the caretaker government of applying double standards in its treatment of rival political parties BNP and the Awami League. Delwar's comment came a day after the Qatar's newest bank opens up shopAl Khaliji opens first retail branch at Q-post Centre. Qatar's newest bank opened its first retail outlet last month at Doha's Q-post Centre. By the end of 2008, Al Khaliji plans to have six branches, two service centres and ten offsite ATMs throughout Credit Mutuel makes firm offer for Citibank in Germany: sourcesCredit Mutuel of France has made a firm bid for the German retail banking activities of US giant Citigroup, which operates in Germany under the name Citibank, sources close to the matter said Friday.<br/><br/>They said the sale of the unit, Bank PHB apprentice Africa hero says: To be frank, I had no strategyAfter what can be described as the longest job interview period, (18weeks, to be precise) which featured 18 contestants from six different African countries, with nine based in Africa and nine in the diaspora, Ghanaian Isaac Dankyi-Korateng, finally Societe Generale fined four million euros for rogue trade scandalFrance's banking regulator Friday fined Societe Generale four million euros (6.3 million dollars) over 'grave deficiencies' in its internal controls that enabled a massive rogue trade scandal at the bank.<br/><br/>The banking commission said European banks could need to raise 60-90 billion euros: studyEuropean banks may find it necessary to raise between 60 and 90 billion euros (94-141 billion dollars) to shore up their finances in the face of a nearly year-long credit crisis, analysts at Goldman Sachs said in a note Friday.<br/><br/>They Goldman Sachs lowers estimates on 40 European banksThe US investment bank Goldman Sachs has lowered its 2008-2010 forecasts for more than 40 European banks, warning Friday that some of them may have to raise between 60 and 90 billion euros to shore up finances in the face of a nearly year-long credit Barclays Wealth backs UK financials to outperform over medium termBarclays Wealth has backed UK financials to outperform over the medium term, alongside materials and telecoms, despite a downgrading of the house view on growth. Only materials was a conviction play however, with financials and telecoms both rated as French regulator fines Societe Generale for rogue tradeFrance's banking regulator Friday fined Societe Generale four million euros (6.3 million dollars) over 'grave deficiencies' in its internal controls that enabled a massive rogue trade scandal at the bank.<br/><br/>The banking commission, UBS Bahamas untouched by U.S. court rulingBy INDERIA SAUNDERS, Guardian Business Desk, Inderia@nasguard.com The head of UBS Bahamas Ltd. is dismissing suggestions a Florida summons ordering its international parent to name clients who may be using Swiss accounts in order to evade taxation will UBS Saved By Past LossesExtract not available. Lost HSBC tape includes talks with 25,000 customersHong Kongs privacy commissioner said yesterday he was very concerned about the loss of a digital tape containing 25,000 phone conservations between a major bank and its customers. Roderick Woo (dy) said an investigation had been launched by his office UBS better than expected in Q2Swiss banking giant UBS, which had been hit hard by the subprime crisis, yesterday said it would break even or report a slight loss for its second quarter. In a statement, the bank said its second quarter results are likely to be at or slightly below |