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Archive for January 24th, 2008Deal perhaps Thursday on Bush’s economic stimulus plan: WHousePosted by UK Economy News
In UK financial news
24Jan 08 The White House and US Congress could announce a deal on an economic stimulus plan as early as Thursday, US President George W. Bush's chief spokeswoman said.
Read full story Rogue trader named as Jerome Kerviel: Societe Generale sourcePosted by UK Economy News
In UK financial news
24Jan 08 The trader behind the near five billion euro (7.15 billion dollars) fraud at French bank giant Societe Generale is called Jerome Kerviel, a source at the bank said Thursday.
Read full story Comments Off US home sales slump further, close 2007 on sour notePosted by UK Economy News
In UK financial news
24Jan 08 US existing home sales fell 2.2 percent in December as the beleaguered housing market saw no relief from its woes, data releases Thursday showed.
Read full story Comments Off Nokia posts strong fourth quarter, full-year earningsPosted by UK Economy News
In UK financial news
24Jan 08 Nokia, the world's leading mobile phone maker, announced soaring fourth quarter and full-year 2007 earnings Thursday boosted by strong handset sales.
Read full story Comments Off German insurer Allianz says 2007 profit hit eight bln eurosPosted by UK Economy News
In UK financial news
24Jan 08 Insurance giant Allianz said Thursday it would post a record net profit for 2007 despite a fourth-quarter loss at Dresdner Bank, which took a huge write down in connection with US subprime housing market losses.
Read full story Comments Off State investment funds fight suspicion at DavosPosted by UK Economy News
In UK financial news
24Jan 08 Sovereign wealth funds are a visible force in Davos this year, reflecting their new-found power, but even at a meeting celebrating globalisation they face suspicion in some quarters.
Read full story Comments Off Ford trims losses for quarter, 2007Posted by UK Economy News
In UK financial news
24Jan 08 Ford Motor Co. said Thursday it trimmed its losses in the fourth quarter and the full year 2007 following a record deficit in 2006, but will have to make more cuts in the face of a slowing US economy.
Read full story Comments Off Bank of America shuts London commods trading deskPosted by UK Economy News
In UK financial news
24Jan 08 Bank of America Corp. has shut its commodities and energy trading desk in London, becoming one of the first big investment banks to trim operations in these strong markets.
Read full story Comments Off Fillon says SocGen serious but not tied to marketsPosted by UK Economy News
In UK financial news
24Jan 08 French Prime Minister Francois Fillon said on Thursday fraud uncovered at bank Societe Generale was very serious, but was not tied to the turbulence in the financial markets.
Read full story Comments Off FactboxPosted by UK Economy News
In UK financial news
24Jan 08 (Reuters) - French bank Societe Generale said fraud by a single trader had caused it a 4.9 billion euro (3.7 billion pound) loss and that it would seek emergency funds as a result, shocking battered markets.
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