MARKETS / FINANCE

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Silicon Valley Bank parent eyes India, China

California-based SVB Financial , the parent of Silicon Valley Bank, is eyeing banking licenses in China and India, Asia's No.1 and No.3 economies, as part of its international expansion, its chief executive told Reuters.

ECB expected to signal July rate increase

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The European Central Bank is likely to signal a July interest rate rise on Thursday while continuing to provide banks with unlimited amounts of cash to help weaker lenders hit by the euro zone debt crisis.
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S&P 500 seen testing April lows, Apple eyed

Wall Street was set for a volatile open on Monday, with the S&P 500 hovering near its April low after signs of a slowing economy pushed the index to five weeks of losses.
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Greece to start austerity drive as nation seethes

Greek Prime Minister George Papandreou starts a campaign on Monday to secure a new international bailout by imposing years of austerity on a nation already seething over corruption and economic mismanagement.
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Goldman may release papers to counter report: report

Goldman Sachs Group Inc could release documents to counter a Senate subcommittee report that said the bank misled clients about mortgage-linked securities, the Wall Street Journal reported, citing people familiar with the matter.
Apple Inc. CEO Steve Jobs gives a wave at the conclusion of the launch of the iPad 2 on stage during an Apple event in San Francisco, California March 2, 2011.

What Does iCloud Mean to Apple?

Technology giant Apple is expected to unveil iCloud, the company's upcoming cloud services offering, at its annual Worldwide Developers Conference (WWDC).
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Diamond says will withdraw as Fed nominee

Nobel Prize winner Peter Diamond said on Sunday he planned to withdraw as a nominee for Federal Reserve governor, after his nomination was repeatedly attacked by Republicans.
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Greece to tackle austerity plan to win new bailout

Greece's cabinet is about to consider an economic plan imposing yet more austerity on an angry population, as the price of a second bailout partly funded by European taxpayers who have yet to be told the final cost.
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Egypt seals $3 billion IMF accord

The International Monetary Fund agreed to a $3 billion financing deal with Egypt on Sunday and praised the policies of an interim government struggling to stabilize the economy after the popular uprising.
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Iraq seeks bank head's arrest, denies witchhunt

Iraqi authorities have issued an arrest warrant for the head of one of the nation's biggest banks, which is under investigation for alleged irregularities, a government source and the bank's lawyer said on Sunday.
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Greece to ask banks to boost capital ratios: report

The Bank of Greece, the country's central bank, plans to ask banks to boost their capital adequacy ratio to ease market fears over the impact of a haircut on Greek government bonds they hold, a Greek newspaper said on Sunday.
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Former UBS banker facing fraud charges: paper

A former client advisor for Spanish customers at Swiss bank UBS is facing criminal charges after allegedly cheating wealthy clients out of around 20 million Swiss francs ($23.99 million), a Swiss newspaper said on Sunday.
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Lagarde likely to be next IMF chief: report

French Finance Minister Christine Lagarde will likely become the next head of the International Monetary Fund , with backing of the United States and Japan, the Nikkei financial daily reported on Sunday, citing unidentified global financial industry sources in Washington.
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CS to pool Lehman products and sell to third parties

Credit Suisse is offering clients that had invested in Lehman Brothers products the opportunity to bundle their capital and sell this to third parties, the bank said on Saturday, confirming a Swiss newspaper report.
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UAW trust not planning quick Chrysler exit: sources

A United Auto Workers trust fund will retain its shares of Chrysler Group LLC in a bid to maximize returns for retiree healthcare costs rather than follow the Obama administration in a quick exit of its investment, two people familiar with the fund's strategy said.
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Short seller's report clobbers Sino-Forest

A damning short-seller's report accusing Sino-Forest Corp of theft and fraud put the skids under the Canadian-listed company on Friday, even as it denied there was a problem.

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