Iceland votes ‘no’ to debt deal for collapsed bank

Iceland votes ‘no’ to debt deal for collapsed bank
Icelanders blew whistles and set off fireworks in the capital as referendum results Sunday showed they had resoundingly rejected a $5.3 billion plan to repay Britain and the Netherlands for debts spawned by the collapse of an Icelandic bank.

Read more on San Diego Union-Tribune

{ 0 comments }

ICBC Plans No Fund Raising; Loans Jump to Record in 2009

March 9, 2010

ICBC Plans No Fund Raising; Loans Jump to Record in 2009
March 8 (Bloomberg) — Industrial & Commercial Bank of China Ltd. , the world’s largest lender by market value, said it has no fund-raising plan at the moment even as it boosted lending by 24 percent to a record last year.
Read more on Bloomberg

Read the full article →

Market Commentary and Intraday News

March 9, 2010

Market Commentary and Intraday News
(AP:REYKJAVIK, Iceland) Icelandic voters blew whistles and set off fireworks in the capital Sunday as results showed they resoundingly rejected a $5.3 billion plan to repay Britain and the Netherlands for debts spawned by the collapse of an Icelandic bank.
Read more on INO News

Read the full article →

Fannie, Freddie Ask Banks to Eat Soured Mortgages (Update1)

March 9, 2010

Fannie, Freddie Ask Banks to Eat Soured Mortgages (Update1)
That’s the estimate of Oppenheimer & Co. analyst Chris Kotowski , who says U.S. banks could suffer losses of $7 billion this year when those loans are returned and get marked down to their true value.
Read more on Bloomberg

Read the full article →

ICBC Has No Plan to Raise Capital After 24% Loan Growth

March 9, 2010

ICBC Has No Plan to Raise Capital After 24% Loan Growth
March 7 (Bloomberg) — Industrial & Commercial Bank of China Ltd. , the world’s largest lender by market value, said it has no fund-raising plan at the moment even as it boosted lending by 24 percent last year.
Read more on Bloomberg

Read the full article →

FDIC Said to Encourage Pension Funds to Invest in Failed Banks

March 9, 2010

FDIC Said to Encourage Pension Funds to Invest in Failed Banks
March 8 (Bloomberg) — U.S. regulators are encouraging public pension funds that control more than $2 trillion to inject capital directly into the banking system by buying failed lenders, said people briefed on the matter.
Read more on Bloomberg

Read the full article →

China to Nullify Loan Guarantees by Local Governments (Update1)

March 9, 2010

China to Nullify Loan Guarantees by Local Governments (Update1)
March 8 (Bloomberg) — China plans to nullify all guarantees local governments have provided for loans taken by their financing vehicles as concerns about credit risks on such debt increases.
Read more on Bloomberg

Read the full article →

China to Nullify Loan Guarantees by Local Governments (Update2)

March 8, 2010

China to Nullify Loan Guarantees by Local Governments (Update2)
March 8 (Bloomberg) — China plans to nullify all guarantees local governments have provided for loans taken by their financing vehicles as concerns about credit risks on such debt increases.
Read more on Bloomberg

Read the full article →

Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash

March 8, 2010

Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash
The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system, said people briefed on the matter.
Read more on BusinessWeek

Read the full article →

HSBC boss pledges bonus to charity after profits rise

March 8, 2010

HSBC boss pledges bonus to charity after profits rise
The head of global banking titan HSBC pledged to donate his bonus to charity on Monday amid an outcry over bankers’ pay in Britain, as the Asia-focused group announced rising annual net profits.
Read more on AFP via Yahoo! UK & Ireland Finance

Read the full article →

← Previous Entries