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Shares in China Construction Bank (CCB) closed 32 percent higher on their Shanghai debut on Tuesday, beating other big Chinese lenders' first-day gains and boosting hopes for future large Shanghai share offers.

The dollar sank to a 15-year low against major currencies on Thursday while the euro rose above $1.40 for the first time as the impact of the U.S. Federal Reserve's interest rate cut continued to sweep across markets.

Hartford Financial Services Group Chief Financial Officer David Johnson said on Monday the insurer will generate $140 million of surplus in the second half of 2007, giving it a total of $640 million available.

Barclays won shareholder support today for its €62 billion (£42 billion) bid to acquire ABN Amro, the Dutch bank, but said that it was not committed to a deal at any price.

Bank of America sold 230 billion yen ($2 billion) of global bonds on Friday, sources said, joining a handful of major banks that have sought to raise cash in Japan's stable credit markets.

Countrywide Financial Corp, the largest U.S. mortgage lender, said on Thursday that it had lined up $12 billion of secured financing to help cope with a housing slowdown that has reduced loan demand and will lead to widespread layoffs.

Foreign companies that have poured billions of dollars into Chinese stocks are not looking to bail out, despite a decision by two major U.S. firms to cash in and realize huge profits from their investments.

Countrywide Financial Corp shares closed down almost 2 percent on Tuesday following a report the largest U.S. mortgage lender was working on a strategic investment similar to the deal with Bank of America Corp last month in which it received a $2 billion injection.

Consumers are carrying a record $907 billion in credit card debt, and that looks likely to jump now that the housing slump has blunted another popular financing tool -- home equity loans. Americans cashed out hundreds of billions of dollars in home equity as credit came cheap in a five-year housing boom that ended about 18 months ago.

Two of the largest U.S. banking companies said on Monday that tough credit market conditions may cause higher losses related to lending.

President George W. Bush's plan designed to limit the number of Americans who default on subprime mortgages might be a small positive for the commercial and investment banks exposed to them but does little to alleviate broader concerns about credit losses, analysts said.

Shares of Countrywide Financial Corp dropped as much as 7 percent on Monday after analysts slashed earnings estimates for the largest U.S. mortgage lender and a report showed existing home sales fell.

Three Asian banks' heavy exposure to the limping U.S. home loan sector reinforced global credit wobbles on Friday but Germany, France and Italy saw no signs of new problems.

Three Asian banks' heavy exposure to the limping U.S. home loan sector reinforced global credit wobbles on Friday but Germany, France and Italy saw no signs of new problems.

European shares fell by midday on Friday, breaking a tentative five-day recovery and tracking weakness in Asia as credit worries returned to the forefront to take financial stocks lower.

U.S. stocks dipped on Thursday as investors worried about the economic outlook after the head of the biggest U.S. mortgage company said the housing downturn could create a recession.

Countrywide Financial Corp Chief Executive Angelo Mozilo warned on Thursday that the housing downturn is likely to lead the country into recession, but called speculation that the largest U.S. mortgage lender might go bankrupt irresponsible and baseless.

Stocks declined on Thursday after the chief executive of Countrywide Financial Corp said the housing market was certainly not getting better and could push the economy into a recession. The comments offset optimism about a $2 billion injection into Countrywide, the biggest U.S. mortgage lender.

Countrywide Financial Corp was expected to lead financial shares higher on Thursday after receiving a $2 billion injection from Bank of America Corp, easing fears the largest U.S. mortgage lender could go bankrupt and boosting optimism the sector will weather a credit shortage.

Countrywide Financial Corp on Wednesday received a $2 billion injection from Bank of America Corp, helping the largest U.S. mortgage lender shore up its finances as it struggles with a liquidity crunch.

Industrial and Commercial Bank of China Ltd, the world's biggest bank by market capitalisation, beat forecasts with a 61.6 percent jump in first-half profit, helped by widening interest margins and fee income growth.

European shares rose in early trade on Thursday, tracking sharp gains made by U.S. and Asian stocks overnight as equity markets continued to recover from a recent correction sparked by fears over a credit crunch.

The yen fell broadly and higher-yielding currencies strengthened on Thursday as calm returned to troubled credit markets and rising equities signaled increased investor appetite for risk.

Online brokerages TD Ameritrade Holding Corp and E*Trade Financial Corp have been in serious merger discussions for weeks but are not close to a deal, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Billionaire investor Warren Buffett may buy parts of beleaguered mortgage lender Countrywide Financial Corp, some investors are speculating, according to The Wall Street Journal.

Countrywide Financial Corp shares leaped higher on Friday after the U.S. Federal Reserve lowered a key borrowing rate, making it easier for lenders to obtain credit.

The U.S. mortgage meltdown has crushed dozens of lenders and is causing severe liquidity problems at the largest, Countrywide Financial Corp.

Countrywide Financial Corp., the largest U.S. mortgage lender, said on Thursday it drew down an entire $11.5 billion bank credit line as a global credit crisis limits its access to short-term cash.

Facing continued deterioration in the U.S. housing market, upscale home builder Hovnanian Enterprises Inc. said on Monday that it expects to take a charge of $90 million to $110 million related to land impairments and write-offs.