World Business Briefs At 10: Bank of England; National City Corp
Monday, Apr 21 - Round-up of global economies and business
ECONOMY
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BANK OF ENGLAND will today announce a plan to swap about 50 bln sterling
(3.99 trln rupees) of government bonds for mortgage-backed securities to
lower credit costs.
COMPANIES
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NATIONAL CITY CORP, the largest bank in the U.S.' Ohio state, may receive $6 bln-$7 bln (239-278.98 bln rupees) from a group led by Corsair Capital
LLC to help the company cope with losses from sub-prime loans. Talks about
the investment are nearing completion.
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BANK OF AMERICA CORP is planning to sell part of its 9% stake in China
Construction Bank as it seeks to raise capital to shore up its balance sheet
in the wake of mortgage-related write-downs, according to reports. (MarketWatch)
BANK OF AMERICA CORP is planning to sell part of its 9% stake in China
Construction Bank as it seeks to raise capital to shore up its balance sheet
in the wake of mortgage-related write-downs, according to reports. (MarketWatch)
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GENERAL MOTORS CORP plans to introduce a hybrid car in China to help
keep its sales lead. The company is battling to remain ahead of Volkswagen AG
as the largest overseas vehicle maker in China. (various)
GENERAL MOTORS CORP plans to introduce a hybrid car in China to help
keep its sales lead. The company is battling to remain ahead of Volkswagen AG
as the largest overseas vehicle maker in China. (various)
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CHINA RAILWAY GROUP LTD, Asia's biggest construction company, won a
1.84-bln- yuan (10.47 bln rupees) contract from the government to build a rail
line in southwest China's Yunnan province.
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