Morgan Stanley eyes India wealth
Morgan Stanley is unleashing a major drive to tap India's domestic wealth next year, hiring 100 private bankers in a bid to manage $1 billion in assets by the end of 2010.
BNP Paribas builds up Asia onshore private banking
BNP Paribas, France's biggest bank, is building up its onshore private banking presence in China, India and Taiwan and expects total assets under management in Asia to grow by 20 percent a year in the next few years, the head of its Asia private banking operation said.
Citigroup to help N.Rock stay independent: reports
Investment bank Citigroup is planning to help keep Northern Rock independent by arranging a consortium of bidders to bail it out, or by directly offering it a loan, according to conflicting weekend newspaper reports.
China's Minsheng Bank to buy into UCBH
Minsheng Banking Corp will buy 9.9 percent of San Francisco-based UCBH Holdings for more than $200 million in the first strategic investment by a mainland Chinese bank in a U.S. bank.
RBS trio to seal ABN win, big integration task now
A Royal Bank of Scotland-led consortium is set to claim victory in the takeover battle for ABN AMRO on Monday, shifting investor and market attention to the unprecedented integration challenge ahead.
Disconnect on your vacation
In a world where e-mails follow people on vacation, the need for true chill-out travel has never been higher, sparking a boom in hotels and resorts dedicated to the quiet, and slow, life.
Indonesia seeks payout to save forests
Indonesia wants to be paid $5-$20 per hectare not to destroy its remaining forests, the environment minister said on Monday, for the first time giving an actual figure that he wants the world's rich countries to pay.
Costa Ricans narrowly back free trade with U.S.
Costa Ricans narrowly approved a free trade deal with the United States in a referendum on Sunday that has split the Central American nation like no other issue in decades.
U.S. and Japan at odds over rising military base costs
The United States and Japan are locked in a dispute over Washington's demand that Tokyo shoulder more costs for water supplies and utilities at U.S. military bases in Japan, media reports said on Monday.
Mexican President critiques U.S. border fence
Mexican President Felipe Calderon criticized the planned U.S. border fence designed to stem illegal immigration, saying countries should be "building bridges, not fences" in an interview broadcast on Monday.
Hedge funds eye minor metals
For years the preserve of globe-trotting merchants and secretive financiers, the trade in rare and valuable minerals known as minor metals is now on the radar of hedge funds searching for profits.
Goodbye cheap Bordeaux, hello Atlantic wine
The new 'Atlantic' label was created by the French government to counter foreign competition in the wine industry.
Microsoft eyes bigger share of IT business in India
Microsoft Corp plans to increase its share of the technology business in India as retail and small- and medium-sized firms step up investment in a booming economy, the chairman of its Indian unit said on Monday.
Boeing says 787 on track for May 2008 delivery
Plane maker Boeing Co said on Monday it still expected to deliver its first lightweight 787 Dreamliner aircraft on time by May 2008, despite delays to its test flight schedule.
Futures flat in light holiday trade
Stock futures were little changed on Monday as investors paused after major indexes hit record highs on Friday and before the start of the quarterly earnings reporting season.
"Designer mice" pioneers win Nobel for medicine
The researchers who pioneered the creation of "designer mice" to track the role of different genes in human development and disease have won the 2007 Nobel medicine prize, Sweden's Karolinska Institute said on Monday.
JPM and BAC to write down $3 billion in loans: report
JPMorgan Chase and Bank of America are expected to disclose losses of about $3 billion in mortgage securities and leveraged loans when they report earnings this month, the Financial Times reported, citing an analyst.
Pro gamers spurn geek stereotype as they go mainstream
Geoff Robinson does not fit the stereotype of a hardcore geek gamer. The Oregon State University student is sociable, an avid weight lifter, studies English and history -- not computer science -- and wants to be a high school teacher.
IAEA chief arrives in India amid raging nuclear row
His trip to India on Monday has turned into a political flashpoint as a nuclear energy deal with the United States threatens to spark snap elections.
Asian stocks hit lifetime peaks as dollar sags
Asian stocks outside of Japan hit record highs on Monday, but the dollar headed lower after a solid U.S. jobs report failed to dampen expectations for a further cut in interest rates. European markets were also expected to rise. European stock markets were set to open slightly higher, extending five straight days of gains, but with Japanese markets closed and no major economic data expected out of the United States due to the Columbus Day holiday, trade was expected to be light.
'Mega-Trends' to drive growth in global banking
Beyond the ongoing 'short-term' subprime crisis, the 'mega trends' that will shape banking and its growth in the long term will be globalization, the growth of capital markets and global asset growth and its impact on how it's managed, said Deutsche Bank's top corporate and investment banker.
World moves into the ecological red
The world moved into 'ecological overdraft' - the point where consumption exceeds the ability of the earth to sustain it.
Eight tickets to paradise
These autos will get you there in style
Don't want an iPod?
Apple's overwhelming popularity encourages some to look for alternate MP3 brands.
Federal Deficit Shrinks to $161 Bln.
The U.S. federal budget deficit fell to $161 billion in fiscal 2007 from $248 billion the prior year as growth in tax receipts, fueled by capital gains and other non-withheld income, outstripped spending growth, the Congressional Budget Office said on Friday.
U.S. employers added 110,000 jobs
U.S. employers added 110,000 jobs in September and August's job losses were revised into a gain in a Labor Department report on Friday that lifted some worry about a recession in the near term.
German Bund Spread Rises
The yield advantage of the two-year Treasury note over the comparable-maturity German bund increased 5.6 basis points to 6.2 basis points today. The bund yielded 12 basis points more than the Treasury note on Sept. 27. A basis point is 0.01 percentage point.
Services Employment Rise in September
The employment portion of the Institute for Supply Management's index of non-manufacturing businesses rose to 52.7 in September from 47.9 the prior month, the Tempe, Arizona-based group said Oct. 3. Services industries make up almost 90 percent of the U.S. economy.
The Dollar Jumps
The dollar posted the biggest weekly gain against the euro in more than a month on signs the economy is weathering the housing slump.
Holiday shoppers say toy recalls won't deter them
Safety concerns following a spate of recalls of toys made in China are unlikely to have a big impact on holiday shopping, according to a new survey.