China Financial Daily

January 13, 2009

Citigroup

Filed under: Financial News — Tags: , — Nancy @ 10:44 pm -0800

Contraction of the U.S. headquarters, but denied the closure of Citigroup Private Bank in China
Yesterday, there was a rumor that Citigroup might shut down China’s private banking sector, which customers to be integrated into the bank’s retail business sector. Citibank (China) Co., Ltd. yesterday to the Beijing Morning News related reporter clarfied, this rumor was completely untrue, Citigroup in China’s private banking sector would not be closed, but in the future would continue to increase input.

Citigroup Private Banking Department with the closure so the road in China was fog enveloped
Outcry gone. Citigroup was discovered a few days ago the biggest annual loss in the history, which information surfaced, then in the group subsidiaries in mainland China – Citibank (China) had a negative news. Market sources said yesterday, in order to reduce the scale of business, Citigroup will close a private banking department set up in mainland China for three years, and related businesses into the retail banking division.

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Market of commodity and stock

Filed under: Financial News — Tags: , , — Nancy @ 10:39 am -0800

Before the springs stock welcome the Ox Year
Looking back over the stock market in the years before and after the Spring Festival, we can find such a law: before the Spring Festival, the stock market are mostly stable; after the Spring Festival, prone to up or fall situation. Also to the Spring Festival, the recent market mentality of keeping stable prevailed, the trend of heavyweight stock relatively calm, large-scale capital movements less.

The two major U.S. financial giants to build the world’s largest brokerage
According to the U.S. “Wall Street Journal” reported on the 12th, on the same day Citigroup board of directors would vote on the deal, and the two sides could come as early as this week to announce an agreement. According to the current negotiations to disclose the terms of Morgan Stanley, Citigroup will pay about 2.5 billion U.S. dollars, with Citigroup’s Smith Barney subsidiary to form joint venture. Morgan Stanley is expected to hold the newly formed management company with 51 percent stake.

Serious deterioration of the economic situation to suppress global commodity prices
NEW YORK, on January 12nd Xinhua: world economic situation as a result of the deteriorating, appeared a decrease in demand for raw materials, global commodity prices contindue to drop, while crude oil and agricultural prices to bear the brunt. According to Bloomberg news agency it was reported, reflecting the 19 kinds of commodities futures prices, on the 12th Reuters CRB index fell 4.1%. On the New York crude prices fell below 38 U.S. dollars a barrel, in New York the price of gold hit six weeks to record the largest decline.

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September 29, 2008

Financial Crisis Effect

Filed under: Financial News — Tags: , , , — Nancy @ 7:31 pm -0700

Asian foreign exchange markets in early trading on the 30th U.S. dollar are against Japanese yen, hitting the lowest in four months
Comprehensive news coverage on September 30: 30 Asian foreign exchange markets in early trading, the dollar is against the yen after touching 103.53 yen, the lowest since the end of May. In the United States 700,000,000,000 U.S. dollars rescue from the House of Representatives is rejected by the accident, leading to the eve of the U.S. stock market. Investors sell off any high-risk site.

After the Day it will continue rebound
Brokerage believes that the performance of listed companies and the growth is important to choose stocks based on. Recently, the policy has been warmer. Since the Ministry of Finance and the SASAC encouraged the controlling shareholders of listed companies stock holdings, there are more and more holdings of the controlling shareholder of the increasing number of cases and high enthusiasm.

Citigroup Will Buy Wachovia
Citigroup will buy Wachovia and assume operational 312,000,000,000 U.S. dollars in loans of a maximum of 42,000,000,000 U.S. dollars loss. Comprehensive Beijing newspaper reported on Monday night that the U.S. Federal Deposit Insurance Corporation (FDIC) said that Citigroup will acquire the Wachovia Bank in a difficult situation.

Sinopec 4,300,000,000 shares will be post-banned, accounting for more than half of the percentage of outstanding shares
A China Petrochemical will post-ban on October 10 the sale of shares 4,300,000,000 shares limited, representing the proportion of the outstanding shares of 51.01 percent of the total capital ratio of 5%.Southwest Securities based on recently released data, and reported in October the restrictions limit the sale of shares in China’s petrochemical monopoly 43,091,000,000 yuan, for a total 50.22 percent of 85,800,000,000 yuan.

Curing the financial crisis, China and Integrated Traditional and Western Medicine has a good effect
CBRC Chairman Liu Mingkang of Tianjin in Tianjin attended the 2008 Davos Forum, said: “The current in the United States since the Great Depression, is the worst financial crisis in the world, but it is still monitoring the local, international cooperation which should be strengthened . “He strengthened international cooperation against high expectations of the financial crisis.

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