Landesbank Berlin News
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Landesbank Berlin AG, a German regional lender, became the sixth bank this year to stop contributing to the panel setting Euribor, adding to an exodus that includes UBS AG and Rabobank Groep.
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Slovenia’s credit rating was cut to junk by Moody’s Investors Service, forcing the government to delay its first international bond sale this year, intended to to ease a financing crunch and avoid an international bailout.
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Slovenia’s six-day-old government is being urged to prevent the nation becoming the euro region’s next bailout battleground.
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Egypt’s priority is meeting the basic needs of its population and curbing inflation, the central bank’s governor said, as demonstrators targeted the country’s economic managers.
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Dekabank, the asset manager for Germany’s savings banks, will acquire Landesbank Berlin Holding AG’s fund business as the lender focuses on consumer banking in the country’s capital to cut costs.
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Slovenia’s Citizens’ List party will decide today whether to join Prime Minister Alenka Bratusek’s caretaker government as she strives to avoid early elections and an international bailout.
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“We do know what we’re doing,” UBS AG Chief Executive Officer Oswald Gruebel told investors last year about plans to step up risk-taking to boost profit. “Risk is our business.”
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Deutsche Bank AG, adding assets as other lenders trim their balance sheets, leapfrogged France’s BNP Paribas SA to reclaim the title of Europe’s largest bank.
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Landesbank Berlin Holding AG said operating profit this year may match the level achieved in 2009. Six-month net income fell to 110 million euros from 189 million euros, the Berlin-based lender said in a statement today.
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When the leader of the Orthodox Church in Cyprus requested financial assistance for the ailing country last week, he turned east, not west.
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