Pandit sees revival of Citi’s fortunes
Vikram Pandit, Citigroup’s chief executive, will raise the prospect of the US bank earning as much as $20bn from its core business within a few years, a big increase from current levels that would mark a sharp revival in Citi’s fortunes
US suspended BAE Systems’ licences
Washington is likely to allow the US subsidiary of the UK defence company to obtain export licences as before, following the group’s $400m plea agreement over bribery allegations
Mexico’s Slim heads Forbes rich list
Carlos Slim, the Mexican telecommunications billionaire with a net worth of $53.5bn, has been crowned the world’s richest person by Forbes magazine – the first time in 16 years the post has been held by a non-American.
Senate Passes $149 Billion Bill for Jobless Aid, Tax Breaks
The U.S. Senate Wednesday approved a $149 billion package of jobless aid and tax breaks as Democrats continued efforts to bring down the 9.7 percent unemployment rate before the November congressional elections.
Geithner warns of rift over regulation
Tim Geithner, US Treasury secretary, has delivered a blunt warning to the European Commission that its plans to regulate the hedge fund and private equity industries could cause a transatlantic rift by discriminating against US groups
Fears of China property bubble grow
Chinese real estate prices accelerated last month, rising by their fastest pace in two years despite government efforts to cool the market amid fears of a looming property bubble
Stocks edge higher on hopes for global economy
Global Markets Overview: FTSE All-World index remains becalmed near six-week highs, with stock investors reluctant to push riskier assets higher without a fresh catalyst
Allen takes over helm at EMI Music
The former chief executive of ITV is to take over as executive chairman as the music group, owned by private equity house Terra Firma, seeks to raise £120m in new funds
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