WORLD


MDT/PTI 11 December 2012
The figure includes nearly $1.3 billion, a record amount for a bank, as part of a deferred prosecution agreement besides a civil fine of more than %650 million that HSBC may have to shell out   Washington: US authorities plan to announce a record $1.9 billion settlement with British...

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Remember, often the stock market's reaction to a positive outcome is negative. The share market fell after TARP in 2008, the Spanish bailout, the last US mid-term elections and after the presidential election The world seems to be a much safer place. Several stock markets are just...

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MDT/PTI 07 December 2012
The alleged transactions by StanChart mainly involved US dollar transfers for state-owned Iranian banks, including the central bank, that fell under US sanctions aimed at curtailing Iran's controversial nuclear programme Hong Kong: British bank Standard Chartered has said it expects to...

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MDT/PTI 04 December 2012
Some 32% of people surveyed by the consumer organisation Which? say they are finding it difficult to cope on their current level of income and nearly 10% of households have defaulted on a loan, bill or housing payment London: Millions of British households are struggling to make both...

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Real estate markets are not like stock markets. They are ‘sticky’. It takes time for owners and buyers to realize that the fun is over The real estate market in the United States looks like it is finally recovering from its disastrous decline. The number of housing starts surged in...

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MDT/PTI 25 October 2012
The US government charged Countrywide, the mortgage giant now owned by Bank of America for labelling defective mortgages as good-quality and selling it to state-controlled mortgage financers Fannie Mae and Freddie Mac Washington: The United States sued Bank of America for more than $1...

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MDT/PTI 23 October 2012
India is ranked 132nd the lowest ranked among BRIC nations as well as below neighbouring Pakistan at 107th and Nepal at 108th, according to World Bank survey. Singapore is the topper followed by Hong Kong and New Zealand New Delhi: India continues to be a tough place for doing business...

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The irony is that capitalist analysts’ and economists’ predictions rely so much on government policy rather than the market forces and not just in China   The growth of the Chinese economy decreased this quarter as it has since the beginning of 2010. It is also much slower than the...

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Moneylife Digital Team 16 October 2012
Citigroup CEO Vikram Pandit steps down with immediate effect and the Board has named Michael Corbat as his successor Banking major Citigroup said its cheif executive Vikram Pandit has resigned and its board has named Michael Corbat as the new chief executive.   The Board namee...

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The main purpose of any market is price discovery, however in pursuit of active management, all governments have tampered with the process. And when the market reasserts itself, it may not be pleasant   Every investor is bombarded by massive amounts of numbers every trading day....

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The purpose of QE3 was to stimulate economic growth and corporate earnings, which is what the markets expect. Sadly both will be disappointed Edmund Burke, the eighteenth century politician and philosopher, wisely pointed out, “You can never plan the future by the past.” Sadly that is...

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Marian Wang (ProPublica), Beckie Supiano  and   Andrea Fuller (The Chronicle of Higher Education) 06 October 2012
As college costs continue to climb, families are turning to federal Parent Plus loans to fill the gap. But with no checks on their ability to repay, many parents are left overburdened, and others set up for failure More than a decade after Aurora Almendral first set foot on her dream...

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MDT/PTI 01 October 2012
The global airlines’ body estimated that Asia-Pacific airlines were set to post a $2.3 billion profit for 2012, which was $0.3 billion better than previously forecast   New Delhi: The crisis-hit global airline industry may stem its growing losses and even record modest profits next...

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Cora Currier (ProPublica) 27 September 2012
Federal watchdog in the US says the mortgage giant had no coordinated plan to bet against homeowners, though Freddie Mac held billions of dollars of investments that paid off if borrowers stayed stuck in high-interest loans Mortgage giant Freddie Mac did not keep homeowners trapped in...

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Like the Federal Reserve, the Chinese government continues to pump in money, but the real problem is that both are facing “structural problems that counter-cyclical remedies cannot fix, so the private sector cannot find areas to make enough profit to justify its investment”   Over the...

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Whatever happens in China, the US, Europe or emerging markets, one thing is absolutely certain: the global economy is slowing and with it, corporate earnings. Now that is a real terror   For most of the worlds’ markets the summer has been quite kind. Traders departed for the mountains or...

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Paul Kiel (ProPublica) 07 September 2012
While Democrats paint a glowing picture of the bailout, ProPublica’s Bailout Tracker database tells the whole story. A look at the biggest losses and gains stemming from the TARP and Fannie, Freddie bailouts in the US   Quick, how many billions in the red are taxpayers on the bailout...

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MDT/PTI 03 September 2012
According to market analysts, the might worsen as local governments have attempted to unleash a new round of stimulus packages amid the current economic downturn Beijing: China's state-run banks are facing increased bad loans partly due to a lending spree to support massive economic...

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When the markets finally realize the enormity of the debt problem across the world, no amount of stimulus will make much difference The potential for additional stimulus may have distracted the markets, but it has not solved any problems. This is especially true in Europe where investors...

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The purpose of stimulus is basically to manipulate the markets, which have taken the bait and have gone up relying on expected economic growth. But if the stimulus does not appear or simply does not work, the markets could be in for a large disappointment and larger correction It is my...

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