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‘Stormy 2008’ expected for financial services

LONDON – THE financial services industry should expect ‘turbulent conditions for 2008 and beyond’ and may report an additional US$300 billion (S$429.8 billion) in losses related to the United States sub-prime crisis, according to a study by consulting firm Oliver Wyman. ‘We expect a stormy 2008,’ Oliver Wyman said in its State Of The Financial […]

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SUB-PRIME HITS: Bank of China may post 2007 loss on write-down

SCMP report heightens concerns about China’s exposure to crisis (BEIJING) Bank of China might post a 2007 loss because of a big write-down on billions of dollars of US subprime related investments, a newspaper reported yesterday, sending shares in the lender tumbling. Quoting unidentified sources, the South China Morning Post said that Chinese banking regulators […]

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