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FT.com - Financial Services
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FT.com - Financial Services
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El-Erian to take sole charge at Pimco
Mohamed El-Erian is to become sole chief executive of Pimco after the world's biggest bond fund manager said that Bill Thompson, his current co-chief, would retire at the end of this year
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Kookmin Bank cleared to start holding company
Kookmin Bank won approval to push ahead with its plan to set up a holding company, a move that will help South Korea's largest retail lender use its capital more effectively for further acquisitions
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Beijing's caution scuppered bank bid
China Development Bank's plan to bid for Dresdner failed in large part because Chinese leaders refused to agree to the deal in time
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B&B defends A$106m bill
Babcock & Brown, the Australian investment group, charged a satellite fund A$106m (US$87.9m) in fees in its past financial year, which exceeds that fund's market value
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RAB co-founder steps down as chief
Philip Richards , co-founder of the hedge fund group, has lost his business management role, which will be taken on by Stephen Couttie
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Heavy discount on Natixis rights issue
French bank hard-hit by the US subprime crisis prices its ?3.7bn rights issue at a lower-than-expected 60 per cent market discount
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Marubeni consortium wins Senoko auction
A consortium led by Japanese trading house Marubeni Corp won an auction to buy Singapore's Temasek-owned Senoko Power in a deal valued at $2.8bn
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ECB and the banks
The central bank has tweaked the rules governing what collateral it will accept from banks seeking funds ? cue the screaming
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Mortgages arrears show sharp rise
Moody's report on the performance of more than 14 mortgage securitisations suggests that home loans are worsening even among borrowers with good credit records
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UBS hires Kengeter to fill key vacancy
Carsten Kengeter from Goldman Sachs is the latest outsider drafted by UBS to revamp its investment banking division, which was largely responsible for the bank's losses
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ECB moves to cut lending risk
Markets were taken by surprise when the European Central Bank radically altered the way it provides liquidity
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China halts foreign financial acquisitions
Beijing has turned cautious and has yet to approve any big offshore investment by China's financial sector this year
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Kamco in talks to buy non-performing loans
Kamco plans to spend about $886m on US non-performing loans, including the possible purchase of Merrill Lynch's non-performing loans, but the talks have stalled amid disagreements over pricing
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A bid for trust
Recipient countries should draw a line at strategic and state-owned companies. But transparent and passive funds should not face discrimination
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The Bank must act to end the euro's wild rise
The European Central Bank managed to sell a minimalist interpretation of its mandate. In this view, the ECB is only responsible for price stability, says Paul De Grauwe
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