What you could buy with the billions UBS lost

April 1, 2008 on 9:32 pm | In Business News | No Comments

LONDON (Reuters) - The $37 billion (18.7 billion pounds) written off by UBS is not only more than the GDP of most African countries, it would buy over 4000 tonnes of the world’s finest caviar and pay for two Olympic games.

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What you could buy with the billions UBS lost

Fed approves JP Morgan purchase of Bear Stearns bank

April 1, 2008 on 9:14 pm | In Business News | No Comments

WASHINGTON (Reuters) - The Federal Reserve Board on Tuesday formally gave its approval to JP Morgan Chase to purchase a banking unit of Bear Stearns .

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Fed approves JP Morgan purchase of Bear Stearns bank

Egypt shrugs off slowdown but faces inflation risk

April 1, 2008 on 8:18 pm | In Business News | No Comments

CAIRO (Reuters) - At Cairo’s largest shopping mall, Egyptians watch films from La-Z-Boy reclining chairs, shop for Escada handbags and sip coffees at Starbucks.

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Egypt shrugs off slowdown but faces inflation risk

Palestinian businesses look east to China

April 1, 2008 on 8:16 pm | In Business News | No Comments

HEBRON, West Bank (Reuters) - Faced with Israeli trade and travel restrictions, a stagnant economy and a flood of cheap imports from Asia, Palestinian businessmen are increasingly seeking their fortunes in China.

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Palestinian businesses look east to China

Costly food? Investors only partly to blame

April 1, 2008 on 7:14 pm | In Business News | No Comments

NEW YORK (Reuters) - High food prices around the world? Blame — at least in part — the investors who moved their money into commodities in the past five years, looking for better returns than they were getting from stocks and bonds.

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Costly food? Investors only partly to blame

Business confidence picks up in March

April 1, 2008 on 7:06 pm | In Business News | No Comments

LONDON (Reuters) - Business confidence picked up last month to its highest level since the credit squeeze began, despite persistent fears about the economic outlook, a survey showed on Wednesday.

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Business confidence picks up in March

Lehman raises 2 bln pounds of capital to hush critics

April 1, 2008 on 3:42 pm | In Business News | No Comments

NEW YORK (Reuters) - Lehman Brothers Holdings Inc raised $4 billion (2 billion pounds) of capital on Tuesday by selling convertible preferred stock in a deal designed to stop questions about the Wall Street investment bank’s stability.

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Lehman raises 2 bln pounds of capital to hush critics

G7 market crisis response planning moves up gear

April 1, 2008 on 1:41 pm | In Business News | No Comments

PARIS (Reuters) - As banks revealed further losses from toxic assets on Tuesday, the idea that the G7 powers might launch a big mop-up operation to fix rotten financial markets with public money started to look increasingly plausible.

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G7 market crisis response planning moves up gear

UBS, Deutsche losses mount, but bank fog clearing

April 1, 2008 on 1:26 pm | In Business News | No Comments

LONDON (Reuters) - UBS and Deutsche Bank took a $23 billion hit on their risky assets and the Swiss bank asked investors for more cash on Tuesday, but Europe’s bank shares rallied on hopes that the end of another torrid quarter could mark a turning point.

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UBS, Deutsche losses mount, but bank fog clearing

FTSE adds 2.6 pct on writedown relief rally

April 1, 2008 on 12:36 pm | In Business News | No Comments

LONDON (Reuters) - The top share index ended sharply higher on Tuesday, entering the second quarter in buoyant mood as financials jumped on hopes that European bank writedowns signalled that the worst was over for the sector.

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FTSE adds 2.6 pct on writedown relief rally

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