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Silver State joins the banking casualties in the US
Silver State, the Nevada-based bank that had John McCain's son on its board
until July, has become the eleventh bank in the United States to fail this
year after losses from souring house loans and land forced regulators to
shut it down.
Categories: Business and financial news
Merkel calls Papandreou’s bluff over aid plan from EU
Germany hardened its stance against a European bailout of Greece last night by effectively calling the bluff of its Prime Minister after he suggested that Athens could seek emergency cash funds from the International Monetary Fund.
Categories: Business and financial news
Former Anglo Irish chairman arrested in fraud investigation
Irish police yesterday arrested Sean FitzPatrick, the former chairman of Anglo Irish Bank, as part of a fraud inquiry that is seen as vital to Ireland’s efforts to win back investor confidence.
Categories: Business and financial news
ITV proves generous payer after surging back from big losses
ITV's new chief executive will pocket £16.8 million if he hits all his performance targets by 2015, according to the broadcaster's annual report released today.
Categories: Business and financial news
BA talks continue into the night
Talks between British Airways and the Unite union aimed at averting strike action have continued into the night.
Categories: Business and financial news
Viacom accuses YouTube of deliberately using pirated TV clips
Viacom's bitter dispute with YouTube has escalated with the allegation that the pirated use of copyrighted television clips was central to the website's business model.
Categories: Business and financial news
Deutsche Bahn confirms Arriva bid
Deutsche Bahn, the German national rail company, has confirmed that it has tabled a bid for Arriva, the UK transport group.
Categories: Business and financial news
GW Pharmaceuticals expects approval for MS drug derived from cannabis
GW Pharmaceuticals, which makes drugs derived from cannabis, is due to have its first medicine on the market within months.
Categories: Business and financial news
Drugs giant Teva buys Ratiopharm
Israeli generic drugs giant Teva buys German firm Ratiopharm for 3.6bn euros (£3.2bn, $4.9bn).
Categories: Business and financial news
Online index tracks value of high-tech private companies
A publicly available index has been launched to shed light on the value of some of Silicon Valley's most high-profile private companies, as the technology sector struggles with a sluggish market for initial public offerings.
Categories: Business and financial news
M&S boss Rose to take 25% pay cut
Marks and Spencer's chief executive and chairman Sir Stuart Rose will give up his executive role in July and take a 25% pay cut.
Categories: Business and financial news
Cartel Client Review closed down
One of the biggest claims management companies, Cartel Client Review, has been shut down by the Ministry of Justice.
Categories: Business and financial news
US consumer prices show no rise
US consumer prices showed no increase between January and February, according to Labor Department figures.
Categories: Business and financial news
MBNA to stop credit card cheques
The biggest issuer of credit card cheques in the UK - MBNA - is to stop issuing them to customers from 31 March.
Categories: Business and financial news
Unilever veteran quits after missing top job
Vindi Banga, president of global foods, home and personal care at Unilever and the man many credit with leading the company's performance in emerging markets, will step down at the end of May.
Categories: Business and financial news
Barclaycard confirms job losses
Barclaycard confirms its decision to relocate its loan centre in Glasgow, which employs about 350 staff, to other UK sites.
Categories: Business and financial news
McLaren aims to set pace with its 200mph supercar, the MP4-12C
Lewis Hamilton and Jenson Button unveiled McLaren’s first volume-production sports car today as the Formula One team showed its intention to challenge on the roads as well as the racing track.
Categories: Business and financial news
Pru chief abandons place on SocGen board
Tidjane Thiam, the chief executive of Prudential, has abandoned his controversial proposed second directorship at Société Générale, the French bank, to head off a deep rift with shareholders.
Categories: Business and financial news
Lending to business drops sharply
UK business lending weakened in January, giving a record annual fall of 9.3%, according to the latest Bank of England survey.
Categories: Business and financial news
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