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by William Ickes Thu Sep 4, 1:05 PM ET FRANKFURT (AFP) - The European Central Bank kept its key lending rate unchanged on Thursday and slashed its growth forecasts for this year and next, sending stock markets and the euro into tailspins.
The ECB left..
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Wed Sep 3, 5:12 AM ET SEOUL (Reuters) - State-controlled Korea Development Bank (KDB) proposed buying 25 percent of Lehman Brothers (LEH.N) for up to $5.3 billion, a newspaper reported, but other Korean banks rumored to be joining a KDB bid consortium d..
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By Kim Yeon-hee 1 hour, 1 minute ago SEOUL (Reuters) - State-owned Korea Development Bank (KDB) confirmed on Tuesday it was in talks with Lehman Brothers (LEH.N) over a possible joint investment in the U.S. bank with other Korean banks, sending Lehman s..
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By Rhee So-eui and Lee Chang-ho 2 hours, 34 minutes ago SEOUL (Reuters) - Lehman Brothers Holdings has intensified talks with Korea Development Bank (KDB) to raise as much as $6 billion in a share sale that could be concluded this week, the Sunday Teleg..
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By John O'Donnell 1 hour, 36 minutes ago FRANKFURT (Reuters) - Commerzbank plans to cut almost 2 billion euros ($3 billion) in costs by slashing 9,000 jobs and shrinking investment bank Dresdner Kleinwort after buying Dresdner Bank, but investors appear..
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6 minutes ago FRANKFURT (Reuters) - COMMERZBANK AG says pays approximately 8.8 billion euros for Dresdner Bank, around 5 billion euros in expected synergies
* Says 1.6 billion of purchase price for Dresdner Bank in cash, remainder in shares
* Says par..
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1 hour, 54 minutes ago PARIS (AFP) - Shareholders in French investment bank Natixis on Friday approved a planned 3.7 billion euros (5.44 billion dollars) capital increase to repair the damage caused by the US subprime home loan crisis.
Despite vocal op..
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Wed Aug 27, 2:43 AM ET (Reuters) - Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported.
The borrowing could be needed to cov..
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Mon Aug 25, 4:03 AM ET SEOUL (Reuters) - A top regulator on Monday voiced concern about state-run Korea Development Bank's (KDB) interest in buying a global bank, saying it should be just a "cheerleader" and let local private banks take the lead in any..
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By Mark Felsenthal and Alister Bull Sat Aug 23, 7:19 PM ET JACKSON HOLE, Wyoming (Reuters) - European Central Bank President Jean-Claude Trichet on Saturday defended central bank responses to the financial turmoil that has roiled global markets for the..
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By Kim Yeon-hee Fri Aug 22, 4:47 AM ET SEOUL (Reuters) - State-run Korea Development Bank (KDB.UL) said on Friday Lehman Brothers (LEH.N) was one of its options for acquisitions, reviving expectations that the U.S. investment bank might still bring in a..
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5 minutes ago LONDON (Reuters) - The outlook for Lehman Brothers Holdings Inc (LEH.N) darkened further on Thursday as a newspaper reported that an intended asset sale had collapsed and a Citigroup analyst forecast big losses for the group.
The fourth-l..
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Sun Aug 17, 6:26 PM ET NEW YORK (Reuters) - Some analysts are girding for a third-quarter loss of $1.8 billion or more from U.S. investment bank Lehman Brothers Holdings Inc (LEH.N), instead of the modest profit they had previously expected, the Wall St..
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Sat Aug 16, 6:11 AM ET ZURICH (Reuters) - UBS AG's (UBSN.VX) chairman is sure the troubled Swiss bank will still be independent in two years' time, according to an interview published on Saturday.
"I am certain about that," Peter Kurer told Swiss newsp..
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54 minutes ago BOSTON (Reuters) - New Hampshire securities regulators sued Swiss bank UBS AG (UBSN.VX) Thursday on charges of improperly selling securities to help students finance their education.
State securities regulators allege that UBS knew the a..
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By John O'Donnell and Sam Cage 2 hours, 12 minutes ago ZURICH (Reuters) - UBS (UBSN.VX) will split off its investment banking unit that made it Europe's top casualty of the credit crunch -- and scared off wealthy clients -- a move that analysts said sig..
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12 minutes ago (Reuters) - Investment bank JPMorgan Chase & Co has incurred losses of about $1.5 billion since the start of July, hurt by turmoil in the credit and mortgage markets and by wider credit spreads and lower levels of liquidity, the company s..
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By Jonathan Stempel 47 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N), the fourth-largest U.S. bank, said on Monday it expected to eliminate 11,350 jobs, more than it previously disclosed, as conditions deteriorate in the housing market.
Separat..
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Fri Aug 8, 7:48 PM ET NEW YORK (Reuters) - Wachovia Corp (WB.N), the fourth-largest U.S. bank, will stop making mortgage loans through its branch offices in 19 U.S. states, a published report said.
The bank will eliminate 125 jobs in connection with th..
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By Steve Slater and Clara Ferreira-Marques Fri Aug 8, 5:51 AM ET LONDON (Reuters) - A 5.9 billion pound ($11.4 billion) writedown on risky assets sent Royal Bank of Scotland (RBS.L) to a first-half loss of 691 million pounds -- better than feared, but s..
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