David Baker News
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China Railway Construction Corp. is seeking a $100 million to $200 million loan from Chinese banks for a property development in Nevada, a precondition for it to win a contract to build part of the project, said three people with direct knowledge of the matter.
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Gold rose as two weeks of declines attracted buying from physical users and investors, with holdings in exchange-traded products backed by the metal gaining to an all-time high. Silver also increased.
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In Illinois, you’re never too big or too small to get stiffed by the state, which is $4 billion behind in its bills.
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Money manager Kenneth I. Starr, facing a criminal trial on charges he defrauded his celebrity clients of at least $59 million, was conditionally granted $10 million bail two months after his arrest.
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Northern Rock Asset Management Plc’s Chief Financial Officer David Jones left the company in the face of a regulatory probe into disclosures about mortgages sold before the bank was nationalized by the U.K. government.
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A battle between Asian buyers last night pushed a Qianlong-dynasty vase to a price of 51.6 million pounds ($83.2 million), an auction record for Chinese art.
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Baker Steel Capital Managers LLP , a London-based firm managing about $1.7 billion, plans a new gold fund, predicting another year of record prices for the metal.
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Eldorado Gold Corp. , Canada’s fifth- largest producer by market value, offered C$3.4 billion ($3.2 billion) in stock for Australia’s Andean Resources Ltd. , which said it’s in talks for a rival transaction.
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Former Northern Rock Plc Chief Financial Officer David Jones became the third executive of the bank banned from working in the industry in the wake of the mortgage lender’s near collapse during the credit crisis.
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Gold climbed in New York on concern that Europe’s financial crisis will be prolonged, spurring demand for the precious metal to protect wealth.
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