American International Group Inc. agreed to sell a division to MetLife Inc. for $15.5 billion in the bailed-out company’s second divestiture of a non-U.S. life insurance unit this month.
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Fannie Mae and Freddie Mac may force lenders including Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. to buy back $21 billion of home loans this year as part of a crackdown on faulty mortgages.
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As 2009 began, the world’s banks and brokers were in a deep hole. They had recorded some $1 trillion in credit losses and writedowns of their mortgage holdings in the financial crisis of 2007 and 2008, and markets were still reeling. To recapitalize, they issued stock -- a lot of
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Federal Reserve Bank of Dallas President Richard Fisher called for an international pact to break up banks whose collapse would threaten the financial system, a position that goes beyond other Fed officials.
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Prudential Plc Chief Executive Officer Tidjane Thiam knows about taking risks.
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Billionaire Warren Buffett said the U.S. residential real estate slump will end by about 2011, predicting that’s how long it will take demand for homes to catch up with the supply.
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Sales of previously owned U.S. homes unexpectedly dropped 7.2 percent in January to a seven-month low, indicating a lack of job growth is undermining government incentives to bolster the housing market.
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Coca-Cola Co., the world’s biggest soda maker, agreed to buy the North American operations of bottler Coca-Cola Enterprises Inc. in a deal valued at $12.3 billion, more than six months after PepsiCo Inc. moved to bring its bottlers in-house to cut costs.
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Carlyle Group will set up a yuan- denominated fund with Fosun Group, a Chinese privately owned company whose businesses span steel, mining and property.
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Confidence among U.S. consumers fell more than anticipated in February to the lowest level since April 2009 as the outlook for jobs diminished, a sign spending may be slow to gain traction as the economy recovers.
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