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Archive for July 26th, 2008US shuts down two more banksPosted by UK Economy News
In UK financial news
26Jul 08 The US Treasury has shut down two affiliated western banks as the impact of the US real estate crash rolls through the country's financial institutions.
Read full story Key countries upbeat on WTO trade talksPosted by UK Economy News
In UK financial news
26Jul 08 Top trade negotiators struck a rare note of harmony in their quest for a new global free trade pact Saturday, expressing encouragement after the latest development in talks that have divided rich and emerging economies.
Read full story Comments Off Key WTO players ‘encouraged’ by negotiations on servicesPosted by UK Economy News
In UK financial news
26Jul 08 Top trade negotiators from key rich countries and emerging economies struck a rare note of harmony Saturday, saying they were encouraged on talks about the services sector.
Read full story Comments Off UBS suspends U.S. fixed income head amid probesPosted by UK Economy News
In UK financial news
26Jul 08 Swiss bank UBS AG has suspended David Shulman, head of its U.S. fixed income unit, amid state and federal probes of sales of auction-rate securities, the Wall Street Journal reported on Saturday, citing people familiar with the matter.
Read full story Comments Off Nokia to reimburse German state to end plant closure rowPosted by UK Economy News
In UK financial news
26Jul 08 Nokia will reimburse a German state over 1.3 million euros (two million dollars) to resolve a plant closure dispute that has cost the mobile phone giant tens of millions already, officials said Saturday.
Read full story Comments Off Final approval given to merger of US satellite radio firmsPosted by UK Economy News
In UK financial news
26Jul 08 US regulators formally approved the long-delayed billion-dollar merger of the nation's only two satellite radio companies, combining Sirius and XM into a single network with 18 million subscribers, the FCC said Saturday.
Read full story Comments Off US Senate approves sweeping housing billPosted by UK Economy News
In UK financial news
26Jul 08 The US Senate on Saturday approved an elaborate housing rescue plan designed to help thousands of homeowners avert foreclosure and bolster mortgage finance giants that have struggled amid a volatile housing market.
Read full story Comments Off China’s largest oil and gas producer cuts jobs: state mediaPosted by UK Economy News
In UK financial news
26Jul 08 China National Petroleum Corp (CNPC), the country's largest oil and gas producer, is to cut 5 percent of its workforce as it seeks to control costs after a fall in profits, state media said Saturday.
Read full story Comments Off China’s largest oil and gas producer cuts jobs: state mediaPosted by UK Economy News
In UK financial news
26Jul 08 China National Petroleum Corp (CNPC), the country's largest oil and gas producer, is to cut 5 percent of its workforce as it seeks to control costs after a fall in profits, state media said Saturday.
Read full story Comments Off India’s State Bank profit up 15 percent on loan growthPosted by UK Economy News
In UK financial news
26Jul 08 India's largest bank, the State Bank of India, said Saturday its net profit rose a better-than-expected 15.08 percent in the first fiscal quarter on loan growth.
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