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Middle Eastern governments are demonstrating their clout in global financial markets as oil prices soar.
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HSBC Holdings said it will stop making subrpime mortgages through brokers in the U.S., as the big British bank continues to clean up its U.S. home-lending business after its aggressive move into the market earlier this decade went sour.
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Prime Minister Gordon Brown's open investment policy runs counter to more protectionist stances in the U.S. and much of Europe. Backers credit it with spurring growth, but critics question the long-term cost.
The dollar recouped some of its recent losses against the yen Friday, bolstered by rising stock prices, but remained under pressure against other major counterparts due to interest rate differentials.
Goldman Sachs's earnings topped analysts' expectations by an amazing 41% this summer. Trouble is, these stunning results don't just put its competitors to shame. They also embarrass the firm's flagship hedge fund.
South Korea and Taiwan remain designated emerging-market destinations after FTSE's latest review, but money managers need to start preparing for upgrades to developed-market status.
The fallout from the crisis that began in the U.S. subprime mortgage market could be an opportunity for Australia's big four banks to snatch market share from more vulnerable competitors or buy smaller players cheaply.
Armour & Co. has decided to switch to a rigid plastic container from its former tin plate can in the national marketing of its Chiffon liquid dishwashing detergent. The switch followed successful trials in Chicago and Milwaukee.
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