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Prosecutors ask to meet Jung in Avon bribe probe: report

Top Finance News - Sun, 07/29/2012 - 10:55pm
Federal prosecutors looking into possible bribery of foreign officials by Avon Products Inc have asked to speak to Andrea Jung, the former chief executive and current full-time chairman, the Wall Street ...

Asian shares extend gains on stimulus hopes

Top Finance News - Sun, 07/29/2012 - 9:25pm
Asian shares extended their gains on Monday, supported by expectations the Federal Reserve and the European Central Bank will deliver new measures to underpin their fragile economies. MSCI's broadest index ...

HSBC faces U.S. compliance issues, Libor scrutiny

Top Finance News - Sun, 07/29/2012 - 8:25pm
The threat that HSBC faces a big U.S. fine for lax controls in its anti-money laundering systems and the risk it will be pulled deeper into an interest rate manipulation probe are set to overshadow strong ...

GM's global marketing chief departs-source

Top Finance News - Sun, 07/29/2012 - 6:55pm
The head of General Motors' global marketing group Joel Ewanick has left the company, a source familiar with the situation said on Sunday. GM was expected late Sunday to make an official announcement about ...

As markets turn bearish on yuan, Beijing becomes the bull

Top Finance News - Sun, 07/29/2012 - 6:55pm
Market forces are mostly to blame for the yuan's unprecedented fall against the dollar in recent months, market participants say, with Chinese regulators now busy propping up the currency, marking a major ...

British bank RBS braced for Libor rigging fine: CEO

Top Finance News - Sun, 07/29/2012 - 5:30pm
British bank RBS is braced to be punished over its role in the interest-rate rigging scandal that has rocked the industry, Chief Executive Stephen Hester said in an interview with The Guardian newspaper. ...

Juncker: Euro zone leaders, ECB to act on euro - paper

Top Finance News - Sun, 07/29/2012 - 4:10pm
The euro zone is at a decisive point and leaders will work with the European Central Bank to demonstrate their commitment to the stability of the single currency, Eurogroup head Jean-Claude Juncker said ...

O'Donnell ruled out of Barclays chairman role: paper

Top Finance News - Sun, 07/29/2012 - 2:55pm
Gus O'Donnell, widely seen as a front runner to become chairman at scandal-hit bank Barclays , is out of the running for the job after senior bankers raised concerns about the former top civil servant's ...

Bafin widens scrutiny of German banks amid Libor: sources

Top Finance News - Sun, 07/29/2012 - 2:55pm
Markets regulator Bafin has extended its scrutiny of German banks by investigating more lenders following a global interest rate rigging scandal, sources have told Reuters. Eight German banks, which participate ...

Enbridge races to clean up Wisconsin oil spill, restart line

Top Finance News - Sun, 07/29/2012 - 2:55pm
Canada's Enbridge Inc. on Sunday raced to repair a major pipeline that spilled more than 1,000 barrels of oil in a Wisconsin field, provoking fresh ire from Washington over the latest in a series of leaks. ...

Boeing, NTSB investigate Dreamliner engine issue

Top Finance News - Sun, 07/29/2012 - 2:55pm
Boeing Co said on Sunday The National Transportation Safety Board is investigating an issue with an engine on a 787 Dreamliner following an incident at Charleston International Airport during a preflight ...

Analysis: A decade on, is Sarbanes-Oxley working?

Top Finance News - Sun, 07/29/2012 - 1:00pm
When Peregrine Financial collapsed earlier this month, a nagging question resurfaced. As in the implosion of Lehman Brothers, the fall of Bernard Madoff and other cases in recent years, many asked: Where ...

Insight: As scandal grew, Nomura chairman pushed for shake-up

Top Finance News - Sun, 07/29/2012 - 10:50am
The biggest management shake-up at Nomura Holdings in a decade and a half was orchestrated by the bank's chairman with the secrecy and precision of a military operation. The closely guarded timing of Thursday's ...

Greek leaders agree bulk of austerity cuts: source

Top Finance News - Sun, 07/29/2012 - 5:55am
Political leaders in Greece have agreed on most of the austerity measures demanded by its creditors and are now eyeing pension and wage cuts to find the final 1.5 billion euros of savings still needed, ...

Credit Suisse scales back Mideast private banking research: sources

Top Finance News - Sun, 07/29/2012 - 5:55am
Credit Suisse has moved the head of its Middle East private banking equity research division to Geneva, two sources told Reuters on Sunday, the latest European bank to scale back research roles in the ...

Data of 8.7 million KT subscribers hacked in South Korea

Top Finance News - Sun, 07/29/2012 - 1:00am
KT Corp., South Korea's No. 2 wireless service provider, apologized on Sunday after personal data of millions of mobile phone subscribers was hacked. It is the latest in a string of large-scale personal ...

Italy business lobby sees urgent need for euro bank union

Top Finance News - Sat, 07/28/2012 - 1:10pm
Italy's biggest business lobby called on Saturday for quick implementation of a European Union summit decision last month to create a banking union, as credit in Italy and other peripheral euro-zone countries ...

SEC alleges insider trading ahead of CNOOC-Nexen deal

Top Finance News - Sat, 07/28/2012 - 5:25am
The U.S. securities regulator filed a complaint in court on Friday against a firm controlled by a Chinese billionaire and other traders, accusing them of making over $13 million from insider trading ahead ...

Insight: At least three banks seen central to Libor rigging

Top Finance News - Sat, 07/28/2012 - 4:00am
New details from court documents and sources close to the Libor scandal investigation suggest that groups of traders working at three major European banks were heavily involved in rigging global benchmark ...

Reliance may invest nearly $1 billion in aerospace business: paper

Top Finance News - Sat, 07/28/2012 - 4:00am
Reliance Industries , India's third-most valuable company, is expected to invest close to $1 billion over the next few years in its aerospace division, the Economic Times reported on Saturday, citing unnamed ...

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