Lloyds bank mulls raising funds

LONDON – LLOYDS Banking Group’s share price dropped here on Monday after reports said the state-controlled British lender planned raising 15 billion pounds (S$36 billion).
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The Greenback advances as Lloyds bank posts a huge loss and investors look for safety

Banks in Britain and in the euro-zone probably still have a lot of bad loans, so this is a big risk to long positions
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The Greenback advances as Lloyds bank posts a huge loss and investors look for safety

Banks in Britain and in the euro-zone probably still have a lot of bad loans, so this is a big risk to long positions
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German bank HRE axes 1,000

BERLIN – GERMAN bank Hypo Real Estate said on Monday it would cut 1,000 jobs and expected to lose hundreds of millions of euros in the second quarter of 2009 due to the world economic crisis.

‘In two steps, the personnel will be reduced by about 1,000 employees in total’ by 2013, the bank (HRE) said in a statement.

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Chinese bank may finance plane

PARIS – AIRBUS said on Monday it had signed a draft deal with China’s ICBC bank under which the bank could provide 3.0 billion dollars (S$4.38 billion) to finance the acquisition of Airbus aircraft by Chinese carriers.
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New EU bank regulator chief

BRUSSELS – THE European Union’s 27 central banks will choose the head of the region’s new economy watchdog, member states said on Friday – avoiding a row with Britain, which had opposed letting the European Central Bank chief take the key role in monitoring threats to EU economies.
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New UBS bank chief

ZURICH – UBS AG surprisingly replaced Jerker Johansson as the head of its investment bank on Monday with two of its senior executives.
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Obama to meet bank CEOs

WASHINGTON – US President Barack Obama will meet the CEOs of some of the country’s largest banks on Friday and impress on them the need to look beyond their own narrow interests, a White House official said on Tuesday.

‘President Obama will … reiterate his belief that getting the economy back on track will require an understanding that each of us must look beyond our own short-term interests to the wider set of obligations we have to each other in order for America to succeed,’ the official said.
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The Euro maybe sold all the way to $1.15 says Royal bank of Scotland

the euro will drop to $1.15 and end the trade if the European currency strengthens above $1.309
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‘Bad bank’ plans scrapped

SYDNEY – THE US Treasury has dropped plans to establish a ‘bad bank’ to buy distressed assets from commercial banks as part of a financial rescue package, CNBC reported on its website.

‘The Obama administration’s wide-ranging plan to stabilise the financial system no longer includes creating a ‘bad bank’ but will still contain measures to buy up toxic assets from financial institutions,’ CNBC reported on Monday New York time, citing a source familiar with the plan.
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