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Banking and Credit

by Banking News
Westpac goes after St George

"Both organisations are strong businesses, with iconic brands, strong and highly complementary cultures and long track records of delivering for customers, employees, shareholders and the community"

Westpac seeks merger with St George Both banks' shares in trading halt Sort out your own finances with our Money section WESTPAC Banking Corporation is in merger discussions with St George Bank to create ...

Won leads drop in Asian currencies

Asian currencies fell this week, led by South Korea s won, on speculation record oil prices will damp the region s economic growth and the US Federal Reserve may have finished cutting interest rates. via Taipei Times

Citigroup's action plan

NEW YORK: Citigroup Inc announced a series of measures aimed at shedding $400 billion worth of assets over the next three years and increasing revenue by 10 percent per year. via Daily Times

Oil prices top $126 a barrel, gas hits $3.67 a gallon

Oil rose above $126 a barrel for the first time yesterday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports ... ...

Sovereign: No talks with Santander

"They cannot increase their shareholdings without the company asking to go forward, and we have not asked."

The chairman of Sovereign Bancorp Inc. on Thursday said the company has not been in talks with its largest shareholder about an increase in its stake in the Wyomissing financial-services firm.

Haiti's PM nominee sees no quick fixes

"I told (Preval) not to put my name forward if my chances were not at least good"

An international banker nominated to be Haiti's next prime minister said Friday that Haiti must concentrate on long-term strategies to help the millions pushed deeper into misery by higher food prices.

In an interview with The Associated Press, Ericq Pierre promised to back President Rene Preval's far-reaching plans to address soaring prices, increase national food production and...

Europe Markets: Shares in Europe drop after AIG losses, $124 crude

"We remain vigilant about the economic environment and rising food prices"

European shares declined on Friday morning, with financials under pressure after American International Group unveiled plans to raise more capital after a steep quarterly loss and as Citigroup may unveil a plan ...

Citigroup unveils turnaround plan

Citigroup's new CEO Vikram Pandit said the company will shed $400 billion in assets as he moves to lead America's largest bank back to profitability. via Reuters

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