Business news
Watchdogs to drag shadow banks into the light
LONDON (Reuters) - Beyond the reach of regulators, and about half the size of the world's banking industry, a thriving breed of "shadow banks" is emerging that could trigger the next chapter in the global financial crisis. Spurred by this concern, the watchdogs are turning their attention to the fringes of the global financial system, where hedge funds and money market funds are filling the gaps left by retreating banks. ... ...more
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- Swedish PM wants people to work until... 28 minutes ago
Swedish Prime Minister Fredrik Reinfeldt wants Swedes to consider working until the age of 75 and to be ready to switch careers after 50, he said in an interview published in daily Dagens Nyheter on Tuesday ...more
- Lloyds to axe 990 jobs, part of earlier... 45 minutes ago
LONDON (Reuters) - Lloyds Banking Group announced 990 job cuts on Tuesday, which the part-nationalised British bank said formed part of last year's broader plans to axe 15,000 jobs across the company. ...more
- GSK's R&D engine cranks up investment... 47 minutes ago
LONDON (Reuters) - GlaxoSmithKline is getting more bang for its buck in drug research following an overhaul of the way it hunts for new medicines that has lifted financial returns from its labs to an ...more
- S. Africa rules out mines nationalisation... 2 hours ago
Nationalising South Africa's mines is not a viable option for the country's key sector and has been ruled out by the ruling party, the mines minister said on Tuesday, in a move welcomed by industry. ...more
- France posts record trade deficit of... 2 hours ago
France suffered a record trade deficit of 69.59 billion euros ($91.4 billion) last year, up 33 percent from the 2010 deficit of 51.52 billion euros, the customs service reported on Tuesday. ...more
- Anglo CEO says shareholders supportive... 2 hours ago
CAPE TOWN (Reuters) - Anglo American's shareholders are "very supportive" of the company in its legal battle against copper producing giant Codelco in Chile over its assets in the country's south, Chief ...more
- Air France to axe long-haul flights... 2 hours ago
French flag-carrier Air France warned it would cancel up to half of its long-haul flights Tuesday as employees pursued a strike against plans to require them to give 48 hours notice of a walk-out. ...more
- EU watchdog to assess bank recapitalisation... 3 hours ago
LONDON (Reuters) - European banking regulators pore over plans this week from 31 lenders to plug a 115 billion euro (94 billion pounds) hole in their capital cushions and help restore investor confidence shattered by the euro zone debt crisis. The European Banking Authority (EBA) will review recapitalisation blueprints from top names like Deutsche Bank and UniCredit . The 31 were singled out in a healthcheck of 71 lenders last year as needing extra capital to lift core ratios to 9 percent by June... ...more
- Exclusive - Indonesia investors confident... 3 hours ago
JAKARTA (Reuters) - The Indonesian major shareholders of Bumi Plc are confident of winning approval for a shake-up of the coal miner's board that would remove co-chairman Nat Rothschild, investor Samin ...more
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