Dublin to take on Irish bank bad debts (Headlines)
The Irish state will pay ?54bn to take over bank debt worth ?77bn to cleanse the sector??s toxic assets and encourage renewed lending to businesses, according to Brian Lenihan, the finance minister.
The US lost its number one spot to Switzerland in the WEF report on global competitiveness, partly because of ??particular concerns on the part of the business community about the government??s ability to maintain arms-length relationships with the private sector and in the perception that the government spends its resources wastefully?.
Deutsche Bank cited a ??regulatory event? to explain why it will redeem $425m in its PowerShares DB Crude Oil Double Long exchange traded notes, namely that the product pushed against the limits on crude oil holdings on the New York Mercantile Exchange.
The head of the FSA, Britain??s top banking watchdog, supports the idea of new global taxes on financial transactions, warning that a ??swollen? financial sector paying excessive salaries has grown too big for society.