April 2009
American International Group plans sale of U.S. auto business, 21st Century Insurance, to Zurich Financial Services
US taxpayer-bailed out insurance giant American International Group Inc. (AIG) is in advanced talks to sell its US personal lines insurance business, 21st Century Insurance, to Zurich Financial Services for about $2bn. Selling the unit, which includes ...
March 2009
Institute of International Finance (IIF) says Financial Services Firms Move to Implement Compensation Reforms!
Financial services firms are moving forward with far-reaching changes in their approaches to employee compensation, said the Institute of International Finance (IIF). Firms are proceeding with reforms that are both in line with the principles published...
Dr. Ben S Bernanke Calls for Increased Financial Market Regulation
Guide Regulatory Revamp, Less Restrictive Money-Fund Rules! Federal Reserve Chairman, Ben S Bernanke urged an overhaul of financial regulatory policies and accounting rules in an effort to smooth out the extreme volatility in financial markets. Bernank...
January 2009
Layoffs hits U.S. economy: Spread to More Sectors of the Economy!
On Jan. 26, U.S. companies slashed nearly 60,000 jobs new layoffs were announced at companies as varied as telecom giant Sprint Nextel, construction equipment maker Caterpillar, semiconductor manufacturer Texas Instruments, and pharmaceutical house Pfi...
How Royal Bank of Scotland lost $37 billion: technically insolvent
There is an old saying that financial stocks lead the markets up and conversely lead them down. Which way do you think the markets are heading…hint: who’s getting the most help? Not to worry though, because they say it’s typical during su...
Bank of America slumps to first loss since 1991!
Bank of America Corp., which owns Merrill Lynch reported a net loss of $1.79 billion in the fourth quarter. That the brokerage compares to net income of $268 million a year earlier. The net loss applicable to common shareholders was $2.39 billion, or 4...
December 2008
EIB loan to mitigate climate change and support EU presence in India
The European Investment Bank (EIB) is providing EURO 150 million to the Export-Import Bank of India (EXIM Bank) to part-finance investments that will contribute to the mitigation of climate change or to support European Union (EU) presence in India. Mr...
November 2008
BofA CEO Kenneth D. Lewis advice to America: One too many auto makers
“I think there’s one too many” automakers, Bank of America CEO Kenneth Lewis told the Detroit Economic Club during a meeting in Cobo Center, the downtown convention center that’s home to the North American International Auto Sho...
October 2008
A full review on New Federal Reserve liquidity swap facilities?
Today, the Federal Reserve, the Banco Central do Brasil, the Banco de Mexico, the Bank of Korea, and the Monetary Authority of Singapore are announcing the establishment of temporary reciprocal currency arrangements (swap lines). These facilities, like...
A review on Ralph Norris Plan: Why HBOS sold Two Units to Commonwealth Bank of Australia
Commonwealth Bank of Australia , the nation’s biggest provider of mortgages, said it has acquired two Australian units of U.K.-based HBOS Plc for A$2.1 billion ($1.5 billion). The purchase of the units Bank of Western Australia, or BankWest, and ...
September 2008
A review on joint actions plan Federal Reserve, central bank, bank of england and Swiss National Bank
Now that the entire global financial community is saying that a global collapse is possible, maybe the conspiracy theorists and ideologists will realize that a bailout is simply not optional. Slowing down the Bail Out process and WaMu failure will not...
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