AP - Spain’s three top banks said Tuesday they will set aside an additional euro6.1 billion ($8 billion) to meet a new government demand for all banks to boost their buffers against troubled real estate assets. Read Original Post Here
Reuters - The underperforming global economy should not be allowed to delay financial system reforms, a senior official at the Financial Stability Board (FSB), a global watchdog set up by the Group of 20 nations, said on Tuesday, adding that the FSB will propose new rules on so-called shadow banking by year-end. Read Original Post Here
Reuters - Wal-Mart Stores Inc has named an industry veteran, but a relative newcomer to China, to run what is a strategically crucial business for the world’s biggest retailer as it faces tougher competition in the fastest growing major economy. Read Original Post Here
Reuters - The underperforming global economy should not be allowed to delay financial system reforms, a senior official at the Financial Stability Board (FSB), a global watchdog set up by the Group of 20 nations, said on Tuesday, adding that the FSB will propose new rules on so-called shadow banking by year-end. Read Original Post Here
Reuters - Wal-Mart Stores Inc has named an industry veteran, but a relative newcomer to China, to run what is a strategically crucial business for the world’s biggest retailer as it faces tougher competition in the fastest growing major economy. Read Original Post Here
Reuters - D.Boerse CEO eyes new allies as NYSE deal crumbles Deutsche Boerse (DB1Gn.DE) does not believe it can survive in the long term without a new partner despite the collapse of its proposed $7.4 billion merger with NYSE Euronext , its chief executive told a German newspaper. Read Original Post Here
Reuters - The euro and European stock markets edged higher on Tuesday as traders grew hopeful a resolution could be found to enable a second bailout deal for Greece, although poor results for some top European firms rekindled fears about the impact of the crisis.
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AP - Gov. Jerry Brown’s appointee to head the department that oversees banking, financial and consumer regulations in California led a trade association that fought against tighter lending restrictions before the subprime mortgage crisis exploded and was an executive with Washington Mutual when the now-failed bank was among the most aggressive marketers of loans to high-risk borrowers. Read Original Post Here
Reuters - Commodities trader Glencore agreed an all-share takeover of mining group Xstrata worth $90 billion on Tuesday in the industry’s largest ever deal, creating a powerhouse spanning mining, agriculture and trading. Read Original Post Here
AP - BP PLC has raised its quarterly dividend by 14 percent after posting double-digit gains in profit and revenue in the last three months of 2011.
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