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’Japanese banks poised for more Wall St bail-outs
The three wealthiest Japanese finance houses are set to step into the worsening sub-prime carnage as the “silent investment partners” of Wall Street and Europe’s stricken banking titans, reports The Times,
Citi, Merrill, and then, the world: SWFs go shopping
If you think you’ve heard enough about sovereign wealth funds taking over the western financial world, then there’s nowhere to go but into the wild. There has already been a deluge of coverage and commentary,
Sushi for Merrill in the banks’ global dating game
Is it payback time?
The latest capital care package for a beleagured US bank could be coming from Japan. The WSJ reports that a unit of Mizuho Financial intends to pour up to Y120bn, or $1.3bn, into Merrill Lynch.
Mizuho strengthens securities business
Mizuho, Japan’s second largest bank, is injecting Y150bn ($1.4bn) into Mizuho Securities to shore up its capital base after the division said it expected to suffer a Y92bn loss this year due to US subprime-related investments.
The curse of the fat-fingered trader
Have you heard of the curse of the Fat Finger? Fat finger trades are orders made erroneously by careless traders that cost their employer an arm and a leg, reports eFinancial News. These trades continue to cause problems,
More deals needed among Japan’s brokers
The Japanese financial landscape looks remarkably similar, 10 years on from the country’s Big Bang, says Lex.
But now the megabanks, rich in assets but low on growth prospects are taking up the baton,