BNP Paribas hit by mortgage delinquencies ... stocks tumble
LONDON (Reuters):World stocks tumbled yesterday after BNP Paribas became the latest bank to be hit by mortgage credit problems and shortage of cash in money markets prompted the European Central Bank to add emergency liquidity.
United States Fed Reserve's money market larger than usual
NEW YORK (Reuters):The United States Federal Reserve's daily money market operations yesterday were larger than usual, but were not injections of liquidity similar to those made earlier in the day by the European Central Bank, analysts said.The Fed's...
Barneys sold to Dubai-based equity firm Istithmar
TOKYO (Reuters):Dubai-based Istithmar is set to buy Jones Apparel Group Inc.'s Barneys New York for US$942.3 million after Japanese casual-clothing retailer Fast Retailing Co.
Yen surges as United States credit sector woes bite hard
NEW YORK (Reuters):The yen surged yesterday as signs the United States credit sector woes are starting to hurt European banks prompted investors to reduce their exposure to risky trades financed in the Japanese currency.
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