Monthly Archives: March 2011

Geithner: inflexible currencies are biggest monetary problem (Reuters)

Written on March 31, 2011 by Editor - Business News

NANJING, China (Reuters) – Tightly controlled exchange rate regimes are the main flaw in the international monetary system and the solution is simple, U.S. Treasury Secretary Timothy Geithner told a G20 meeting on Thursday. In a thinly veiled swipe at … Continue reading →

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Ex-Goldman trader launching $1 billion-plus fund: sources (Reuters)

Written on March 31, 2011 by Editor - Business News

HONG KONG (Reuters) – Former Goldman Sachs trader Morgan Sze is set to launch his highly anticipated $1 billion-plus hedge fund in Hong Kong on Friday, three sources familiar with the plan told Reuters. Sze’s Azentus Capital has received commitments … Continue reading →

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Currency call starts Nanjing G20

Written on March 31, 2011 by Editor - Top News Stories

31 March 2011 Last updated at 00:38 ET China is accused of keeping its currency artificially undervalued US Treasury Secretary Timothy Geithner has kicked off the G20 meeting in Nanjing with a call for more consistency in international currency exchange … Continue reading →

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U.S. drives global equity fundraising in Q1 (Reuters)

Written on March 31, 2011 by Editor - Business News

LONDON/NEW YORK (Reuters) – The United States drove global equity issuance in the first three months of the year, stealing Asia’s crown, after a spate of blockbuster U.S. IPOs backed by private equity firms. Despite a tumultuous final few weeks … Continue reading →

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Ex-Berkshire exec Sokol: I did nothing wrong (Reuters)

Written on March 31, 2011 by Editor - Business News

NEW YORK (Reuters) – Former Berkshire Hathaway (BRKa.N) executive David Sokol on Thursday said he did nothing wrong in buying stock in a company that he then suggested Berkshire acquire. Sokol, who was seen as the most likely successor to … Continue reading →

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H&M Q1 profit drops 30 pct on high cotton prices

Written on March 31, 2011 by Editor - Finance Top Stories

STOCKHOLM (AP) — Swedish fashion retailer Hennes Mauritz AB said Thursday that its profit fell 30 percent in the first quarter of the year as a result of higher cotton prices and negative currency exchange effects. The Stockholm-based company said … Continue reading →

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Stocks pause for breath as payrolls loom

Written on March 31, 2011 by Editor - Finance Top Stories

FILE – In this file photo taken March 17, 2011, traders gather at a post on the floor of the New York Stock Exchange. World stocks fell Tuesday, March 29, on more bad news from Japan, where authorities raced to … Continue reading →

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Irish prepare to learn full cost of banking crisis

Written on March 31, 2011 by Editor - Finance Top Stories

FILE – This is a Thursday, Nov. 4 2010 file photo of a Bank of Ireland building in Dublin, Ireland. Bank of Ireland shares fell 7 percent Wednesday March 30, 2011. (AP Photo/Peter Morrison, File) SymbolPriceChangeAIB2.570.00{“s” : “aib”,”k” : “a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00″,”o” … Continue reading →

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Portugal deficit rises, worsening debt woes

Written on March 31, 2011 by Editor - Finance Top Stories

LISBON, Portugal (AP) — Portugal’s National Statistics Institute estimates the debt-stressed country’s national budget deficit last year was 8.6 percent — way above the government’s target of 7.3 percent. The estimate published Thursday was another severe setback for Portugal’s attempts … Continue reading →

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G20 meeting highlights conflicts over currency

Written on March 31, 2011 by Editor - Finance Top Stories

French President Nicolas Sarkozy gestures as he speaks at a G20 financial seminar on the International Monetary System held in Nanjing, eastern China’s Jiangsu province, Thursday, March 31, 2011. Conflicts over exchange rate policy and other economic strategies are surfacing … Continue reading →

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