INVESTMENT

China investment hot, reinforces case for tightening

The sizzling pace of Chinese capital spending barely slowed in November despite curbs on lending, showing why the authorities intend to tighten monetary policy further in 2008.

FX Summary - Dec 12

The major currency pairs moved sharply in early Wednesday trading following the announcement of a concerted central bank move, consisting of the Fed, BoE, ECB, SNB and BoC, to alleviate global liquidity concerns and inject much-needed cash into the credit-tight financial markets.

Sensex, Nifty close at life-time highs

The Bombay Stock Exchange (BSE) benchmark 30-share sensitivity index, the Sensex crossed the psychological 20,000-mark for the second time on Tuesday, Dec. 11 and closed at a record high, riding on a flurry of buying by investors who were expecting a rate cut by the US Federal Reserve.

Gold Up Ahead of Fed Interest Cut Announcement

Gold prices rose on Tuesday as investors anticipate a third cut in U.S. interest cuts for the year at the Federal Reserve's meeting taking place today which will likely send the dollar lower and boost appeal in precious metals.

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Lloyds TSB profits on track, takes $405 mln hit

Lloyds TSB said its underlying profits are on track to grow 11 percent this year but the British bank will take a 200 million pound ($405 million) hit from exposure to credit market problems.

China raises foreign investment cap to $30 billion

The ceiling on foreign investment in Chinese securities will be raised to $30 billion from $10 billion, Beijing's foreign exchange regulator said on Sunday ahead of cabinet-level talks with the United States.

Global stocks erase losses, dollar firm as Fed looms

Global stocks erased early losses on Monday, dollar money market tensions eased and the U.S. currency held near one-month highs against the yen ahead of an expected Federal Reserve interest rate cut this week.

Wall Street set for higher open on banks, Fed

Stocks headed for a higher open on Monday, with financial shares set to lead gains after news of the latest large capital injection into a major bank by wealthy investors.

Blackstone plans bid for Rio with Chinese: report

Investment group Blackstone is planning a counterbid for Rio Tinto Ltd/Plc with a consortium believed to include China's sovereign wealth fund, Britain's Daily Telegraph newspaper said on Monday.

UBS writes down $10 bln, Singapore injects capital

UBS revealed a $10 billion writedown and an emergency injection of funds from Singapore and the Middle East, making it the biggest victim of the U.S. subprime crisis to date among major European banks.

U.S. Stocks Up Ahead of Mortgage Resuce Plan

U.S. stocks rose steadily for a second day on Thursday, with financial shares climbing on expectations that government plan to be unveiled today may help banksâ€™ profits by limiting subprime mortgage defaults.

Japan's Dai-Ichi Mutual plans $9 bln IPO in 2010

Dai-Ichi Mutual Life Insurance Co aims to list its shares in 2010 and sell more than $9 billion worth of them in what is likely to be Japan's third-largest initial public offering.

Pimco's Gross says Fed may need to cut below 3 percent

The Federal Reserve could be forced to lower interest rates below 3 percent to avoid a recession, Bill Gross, the manager of the world's biggest bond fund, said on Wednesday.

U.S Stocks Drop as Credit Markets Deteriorate

U.S Stocks fell for a second day Tuesday, as major stocks fell on news of deteriorating credit markets.

Singapore's Temasek Eyes Western Bank Stakes

Singapore's Temasek, Asia's pioneer sovereign wealth fund with stakes in Barclays and Standard Chartered, looks to be calling the top of the China stock boom and is scouting for cheaper targets in the West.

Market falls on dim outlook for financials

Stocks fell on Tuesday after a brokerage cut its earnings outlook for major Wall Street companies and as uncertainty about the outlook for a credit crisis recovery mounted.

Merrill Hires NYSE CFO

Merrill Lynch & Co named the NYSE Euronext Chief Financial Officer, Nelson Chai, as its own CFO today, replacing Jeffrey Edwards.

Citigroup's Top CEO Option is Vikram Pandit: Report

The leading internal candidate to fill the vacant CEO position at Citigroup is Vikram Pandit, the head of the bankâ€™s investment banking division, but no final decision has been made according to reports on Monday.

Merrill Lynch Hires new CFO frm NYSE Euronext

Merrill Lynch & Co named the NYSE Euronext Chief Financial Officer, Nelson Chai, as its own CFO today, replacing Jeffrey Edwards.

China Railway up 69 pct on Shanghai debut

Shares in China Railway Group 601390.SS, the world's third-largest construction contractor, rose 69 percent on their Shanghai debut on Monday, calming investor fears that big Chinese listings could be running out of steam.

MetLife sees higher 4th-quarter

MetLife Inc, the largest U.S. life insurer, said on Monday it expects operating profit to increase for the fourth quarter and full year, helped by unusually strong investment results.

Nasdaq opens in Beijing, eyes more China listings

Nasdaq opened an office in Beijing on Monday, a move that will let it step up efforts to attract more Chinese firms to list on the exchange.

E*Trade's Firesale Seen Hurting Wall St

E*Trade's firesale of its mortgage-backed assets may be banks' new worst case scenario.

Dow, S&P 500 gain on housing plan as Nasdaq dips

The Dow and S&P 500 rose on Friday, capping a dismal November with a four-day rally, as financial stocks rallied on optimism over a proposed rescue for struggling homeowners and on heightened expectations for more interest-rate cuts.

Stocks Rise; Banks up on Fed Comments, Dell Drags S&P

Dell, the worldâ€™s second-largest personal-computer maker, decreased $3.80 to $24.33, being viewed as the biggest drag on the S&P 500.

CIBC could have C$10B US subprime exposure-report

Canadian Imperial Bank of Commerce could have up to C$10 billion ($10 billion) in hedged exposure to the U.S. subprime mortgage sector, a newspaper said on Friday.

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