Financial Service NewsFinancial Services news continually updated from thousands of sources around the net.SKorea court overturns Lone Star verdict- June 24, 2008 A South Korean appeals court on Tuesday overturned a guilty verdict against U.S. private equity group Lone Star Funds, which had been accused of stock manipulation in a case that has been closely watched as a gauge of the country's treatment of foreign investors.Lone Star and the head of its Korean operation, Paul Yoo, were found guilty in February for manipulating stock prices ahead of the group acquiring a stake in Korea Exchange Bank. But Judge Ko Yue-young at the Seoul High Court overturned.http://www.topix.net/business/financial-services/2008/06/skorea-court-overturns-lone-star-... World's Wealthy Growing In Number, Resources- June 24, 2008 The world's millionaires club is getting bigger - and its members decidedly richer. The number of people around the globe with at least $1 million in assets swelled by 6 percent last year to 10.1 million, according to the 12th annual World Wealth Report released Tuesday by Merrill Lynch & Co. and Capgemini Group, a consulting firm. That means an additional 600,000 people became millionaires or richer even as problems tied to the U.S. credit crisis spread in the second half of the year.http://www.topix.net/business/financial-services/2008/06/worlds-wealthy-growing-in-number-... Media Industry Growth Led by Digital Revolution- June 24, 2008 062408 A new study by PriceWaterhouseCoopers shows the Media industry will grow by $2.2 trillion, through strength in the new digital revolution and growing alliances.http://www.topix.net/business/financial-services/2008/06/media-industry-growth-led-by-digi... Cowdery targets Bradford & Bingley- June 24, 2008 Major City investors in Bradford & Bingley have joined forces with financier Clive Cowdery to take over beleaguered buy-to-let lender Bradford & Bingley .http://www.topix.net/business/financial-services/2008/06/cowdery-targets-bradford-bingley?... Central bankers battle desperate times with desperate measures- June 24, 2008 PARIS : Inflation, the curse of the 1970s, is making a comeback, led by sky-high oil prices.http://www.topix.net/business/financial-services/2008/06/central-bankers-battle-desperate-... Dodd repeats denial of mortgage wrongdoing- June 23, 2008 Connecticut Sen. Christopher Dodd says the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown.http://www.topix.net/business/financial-services/2008/06/dodd-repeats-denial-of-mortgage-w... Lloyds TSB eyes Dresdner- June 23, 2008 Lloyds TSB is in talks to buy Germany's Dresdner Bank to capitalise on its relatively strong position, according to a report.http://www.topix.net/business/financial-services/2008/06/lloyds-tsb-eyes-dresdner?fromrss=... Oil rises despite Saudi output pledge- June 23, 2008 Traders again shrugged off a pledge by Saudi Arabia to increase its oil production if needed and oil prices rose Monday, with the focus on disruptions to Nigerian supply and heightened Middle East tensions.Saudi Arabia said Sunday it would produce more crude oil this year if the market needs it. The kingdom announced a 300,000 barrel per day production increase in May and said before the start of the meeting in Jeddah that it would add another 200,000 barrels per day in July, raising total...http://www.topix.net/business/financial-services/2008/06/oil-rises-despite-saudi-output-pl... Housing rescue a final chance for bargaining- June 23, 2008 President Bush and Congress have settled their differences on terrorist surveillance and Iraq war money. Now attention turns to a potential housing rescue, probably the last major initiative with any chance of passing before lawmakers scatter to campaign for re-election.Bush has threatened a veto. But lawmakers in both parties say the housing legislation is a political imperative, and negotiators see the makings of a summertime bargain.For one, the measure contains elements that Bush long has...http://www.topix.net/business/financial-services/2008/06/housing-rescue-a-final-chance-for... Report: Citigroup to slash investment-banking jobs- June 23, 2008 Citigroup is preparing fire thousands from its worldwide investment-banking division, The Wall Street Journal reported on Sunday.The Journal, citing people familiar with the matter, said the layoffs are part of a plan to cut about 10 percent of the staff of the 65,000-member investment-banking group.Messages left with Citigroup spokesmen on Sunday were not immediately returned. The Journal said the fired employees could be notified as early as Monday.The New York-basked global bank, along with..http://www.topix.net/business/financial-services/2008/06/report-citigroup-to-slash-investm... |