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Nationwide lashes out at rescued banks
The head of Nationwide, Britain’s biggest building society, accuses government-backed companies of seriously distorting the savings market as its profits fall more than 60%
Block on Minsheng deal costs US $1.7bn
US authorities blocked Minsheng, the Chinese bank, from acquiring a Californian lender in a deal that could have saved almost $300m of taxpayers’ money and $1.4bn from an industry insurance fund, say people familiar with the matter.
Goldman boost from business aid fund
Goldman Sachs’ programme for US small businesses could help it meet some of its duties under a law aimed at aiding low-income communities – a sign of the demands created by its conversion to a bank holding company last year
ABN Amro and Fortis set for €4.4bn bail-out
The Dutch state plans to provide the two nationalised banks with further capital to keep their merger on track in what it says will be the groups’ final bail-out
Nationwide seeks help in new rash of acronyms
The building society sector, led by the leading operator, approaches regulators about a CoCo-based model that could buttress their stressed capital bases
Lex: Regulators inside banks
Self-sufficiency is becoming another victim of the crisis – whether in risk oversight, due diligence, or the wisdom of reading banks’ fine print
Trichet warns on bank bonuses
Jean-Claude Trichet, ECB president, has issued his strongest warning yet that banks must keep pay and bonuses ‘contained’ and prepare for withdrawal of emergency support
China’s banks face overseas pitfalls
Torture case brought in the US reveals the perils that could threaten the overseas’ expansion dreams of China’s government-owned entities
Lex: Minsheng IPO
The initial public offering of China’s eighth largest lender by assets has witnessed the largest haul by any local debutant this year
Ministers defend new FSA powers
The economy will not suffer if legislation allowing bankers’ bonus deals to be ripped up drives ‘reckless’ individuals from the City to other countries, says the government






