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Stanford clients sue insurance broker Willis Group (Reuters)

03-07-2009 16:48

Texas billionaire Allen Stanford gives members of the media a thumbs up as he leaves the Bob Casey Federal courthouse in the custody of U.S. Marshals in Houston June 29, 2009. REUTERS/ Steve CampbellReuters - Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd , contending it was a willing participant in a $7 billion fraud at the Texas-based investment company.

Dollar status unlikely to be in G8 communique: G8 source (Reuters)

03-07-2009 14:13

Reuters - The dollar's status as the top global reserve currency is unlikely to be mentioned explicitly in the final communique at next week's Group of Eight summit, a European G8 source involved in preparations for the meeting said on Friday.

Teck to sell 17 percent stake to China for C$1.7 billion (Reuters)

03-07-2009 13:39

Teck Resources President and Chief Executive Officer Donald Lindsay speaks to shareholders during the annual general meeting in Vancouver British Columbia April 26, 2006. REUTERS/Lyle StaffordReuters - Canada's Teck Resources (TCKb.TO) said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp in a deal that will help Teck pay down debt while expanding China's portfolio of commodity investments.

Medici lawyer says Kohn didn't get Madoff payments (Reuters)

03-07-2009 13:17

Reuters - Austrian fund manager Sonja Kohn did not receive any kickbacks from Bernard Madoff to steer Bank Medici customer funds to the swindler's investment business, a Medici lawyer said on Friday.

Dollar climbs after poor European retail sales (AFP)

03-07-2009 12:38

The dollar climbed against the euro Friday after eurozone retail figures slipped back into a rut and as fresh worries about the health of the US economy supported the AFP - The dollar climbed against the euro Friday after eurozone retail figures slipped back into a rut and as fresh worries about the health of the US economy supported the "safe-haven" greenback.

China moves on Opel with BAIC bid (Reuters)

03-07-2009 10:15

A view of the main entrance of the Opel assembly plant in Antwerp June 15, 2009. REUTERS/Thierry RogeReuters - A Chinese automaker has offered to buy a stake in General Motors unit Opel, challenging a deal from Canadian auto parts supplier Magna, sources said on Friday.

Oil brokerage PVM names rogue trader behind oil spike (Reuters)

03-07-2009 08:40

A motorist holds a fuel pump at a Gulf petrol station in London April 18, 2006. REUTERS/Luke MacGregorReuters - PVM Oil Futures Limited said on Friday Steve Perkins, a senior broker based at the firm's London office, was responsible for unauthorized trades earlier this week which landed the firm with a loss of nearly $10 million.

Global stocks dip as investors cautious on recovery (Reuters)

03-07-2009 07:22

Floor traders work at the Hong Kong Stock Exchange Friday, July 3, 2009 in Hong Kong. Asian stocks retreated Friday as a weaker-than-expected U.S. jobs report signaled more pain ahead for the world's largest economy. Losses across Asia were somewhat tame compared to Wall Street, where markets pulled sharply lower. Oil prices weakened further, while the dollar was little changed against the yen. (AP Photo/Kin Cheung)Reuters - World stocks fell on Friday after a disappointing U.S. jobs report and a sluggish euro zone services sector survey reinforced expectations that the process of recovery in the global economy would be long and slow.

Clearing key to making derivatives safer: EU (Reuters)

03-07-2009 06:22

Reuters - Derivatives pose risks on financial markets that central clearing of contracts would mitigate, the European Commission said on Friday, outlining plans that fall short of more radical U.S. steps.

CEOs use Obama visit to press Russia on rule of law (Reuters)

03-07-2009 05:51

Reuters - U.S. businessmen are expected to use a Russia-U.S. business summit on Tuesday to press Moscow to rein in corruption and improve conditions for western companies operating in the country.

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