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Business 29 Jul 2011 | 12:00 AM

HSBC may cut 10,000 jobs

HONG KONG: HSBC Plc may cut more than 10,000 jobs as it embarks on a cost-cutting drive, i>Sky News/ireported, citing people close to Europe's biggest bank.

Business 03 Jun 2011 | 12:00 AM

Moody's warns big banks of possible downgrades

NEW YORK: Moody's Investors Service said Thursday that it was reviewing the ratings of Bank of America Corp. Citigroup Inc. and Wells Fargo Co. for possible downgrades.

Business 08 Jul 2010 | 12:00 AM

Oil price rises as stock market rallies

NEW YORK: Oil prices climbed above US$74 a barrel on Wednesday, as crude followed the U.S. stock market higher on encouraging earnings news.

Business 08 Jul 2010 | 12:00 AM

US, European stocks surge, Dow above 10,000 again

NEW YORK: The Dow Jones industrials climbed back above 10,000 Wednesday after investors had second thoughts about the heavy selling in the stock market during the last two weeks.hr noshade size=-1 width=50%>

Business 17 Jun 2009 | 12:00 AM

Morgan Stanley to pay back all of US$10b bailout on Wed

NEW YORK: Morgan Stanley is expected to repay its government bailout money on Wednesday, according to a person familiar with the talks between the bank and the government.

Business 10 Jun 2009 | 12:00 AM

Ten banks to return US$68bil in US bailout money

WASHINGTON: Ten of the biggest U.S. financial companies got a green light Tuesday to return $68 billion in federal bailout money - freeing the banks from limits on executive pay and leaving the government with a small gain on the rescue cash.

Business 09 Jun 2009 | 12:00 AM

Some banks may be allowed to repay TARP

NEW YORK: The US Federal Reserve is expected to say Goldman Sachs Group Inc, JPMorgan Chase Co and perhaps a few other banks will be allowed to repay money to the Troubled Asset Relief Programme, i>The Wall Street Journal/isaid yesterday, without saying where it got the information.

Business 08 Jun 2009 | 12:00 AM

US bailout repayment seen bigger than expected

WASHINGTON: The Obama administration is expected to announce next week that a higher-than-expected number of large financial institutions will be allowed to repay their government bailout funds, the i>Washington Post/ireported in its Saturday edition.

Business 19 May 2009 | 12:00 AM

US stocks up, Dow biggest daily gain in more than a month

NEW YORK Reassuring news about housing and banking on Monday convinced investors to return to the US stock market. The Dow Jones industrial average shot up 235 points, its biggest daily point gain in over a month, and made up three-quarters of last week's losses.hr noshade size=-1 width=50%>

Business 07 May 2009 | 12:00 AM

Results of bank stress tests leak ahead of report

WASHINGTON (AP): Government stress tests are expected to show that nearly a dozen of the nation's largest banks do not have enough money to survive if the economy worsens and will need to raise billions of dollars as a precaution.