INVESTMENT

BNP plays down subprime hit, France seeks answers

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France's biggest listed bank BNP Paribas said its exposure to subprime risk was limited and manageable as it moved to reassure investors a week after rattling markets by freezing three of its funds.

Yen hits 14-month high vs dollar on credit fears

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The yen had its biggest rise against the dollar in six months in volatile trading on Thursday as investors fearing a global credit crisis exited risky trades financed by borrowing the Japanese currency.
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Global stocks skid, yen gains as credit fears grip

Japan's Nikkei plumbed a 2007 low and other Asian stock markets fell as much as 6 percent on Wednesday as investors shunned risky trades amid growing credit jitters, pushing the yen to a 4 and a half month high. The nervous sentiment is set to hit Europe, where financial bookmakers are calling for falls of half a percent or more for major indexes.
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UBS profit overshadowed by market turbulence worry

Swiss bank UBS, the world's largest wealth manager, beat forecasts with record second-quarter profits on Tuesday but warned market turmoil was likely to hit its investment banking business in the second half of the year.
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A double take at annuities

Annuities are (a) a great way to make your money last as long as you do; (b) fee-laden, lousy investments pushed by greedy commission-hoarding salesmen; (c) so complicated they make your head hurt.
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Bonds rise as markets brace for protracted crisis

U.S. Treasuries climbed on Tuesday after several Canadian investment trusts had trouble repaying short-term loans, further evidence that a crisis that began in mortgages has led to a wider credit crunch.
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Oil up on storm concerns

Oil prices rose on Tuesday as concerns about a newly formed tropical storm in the Atlantic countered fresh troubles in credit markets.
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Citi, Lehman, others start trading platform

Five banks, including Citigroup, Lehman Brothers Holdings Inc., and Merrill Lynch & Co. Inc., said on Tuesday they were setting up a trading platform for privately offered stocks, seeking to tap the growing market for non-public shares.
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UBS CFO says market needs more subprime info

Intervention by central banks has staved off a crisis, but investors need to know more about the true state of U.S. mortgage markets before calm can be restored to markets, a top manager at UBS said.
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Prudential's subprime exposure bears watching: Citi

Prudential Financial Inc. has the riskiest investment portfolio, including subprime exposure, among life insurers, while MetLife Inc. and Genworth Financial Inc. should be closely monitored, Citigroup analyst Colin Devine said in a report on Monday.
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Dealmaking halts amid credit crunch

The tightening of the credit markets and fears of a global liquidity crunch have turned a normal summer slowdown in mergers and acquisitions into a deep freeze.
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Blackstone finds new deals tougher

Blackstone Group LP is finding it more difficult to find new deals as credit markets tighten, which will affect near-term results, President Hamilton James said on Monday.
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Stocks edge up as financials lose steam

Stocks edged higher on Monday after central banks pumped more cash into the global financial system and a report showed U.S. consumers spent more freely than expected last month.
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Goldman, others investing $3 billion in hedge fund

Investment bank Goldman Sachs Group said on Monday it and outside investors would pour $3 billion of new capital into Goldman's Global Equity Opportunities fund, a long-short quantitative hedge fund hurt by recent market volatility. In the statement, Goldman acknowledged for the first time that market conditions had led to fund losses.
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Volatile but valuable

On the heels of a crisis, investment bank shares are looking cheap. Some say it's a great time to buy.
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Retail investors take gyrations in stride

Wall Street's roller-coaster ride, triggered by the meltdown in subprime mortgage lending, is spreading pain through financial markets -- but has not hit Main Street yet.
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Yen firm and high-yielders down

The yen firmed broadly on Friday as continued turbulence in global financial markets caused investors to shun risk, cutting their exposure to carry trades.
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Man Group delays U.S. hedge fund IPO: source

Man Group Plc, slated to become the first firm to list a hedge fund on the New York Stock Exchange this autumn, will delay the public offering as market conditions have deteriorated dramatically, a source familiar with the company's plans said on Thursday.

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