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February 28, 2009 | Henry Chu
Amid growing public and political clamor, British Prime Minister Gordon Brown said Friday that he would seek ways to block a nearly $1-million-a-year pension awarded to a banking executive whose stewardship plunged one of the country's biggest financial institutions into ruin. Former Royal Bank of Scotland chief Fred Goodwin has insisted that the retirement package provided by the company is rightfully his.
May 10, 2006 | From Bloomberg News
Credit Suisse Group, Switzerland's second-biggest bank, agreed to pay $90 million to Enron Corp. to settle a lawsuit related to the energy company's bankruptcy. Under the settlement, Credit Suisse will forgo $337 million in claims that it was seeking in the bankruptcy case, Houston-based Enron said Tuesday. Claims in the case were worth from 18 cents to 20 cents on the dollar.
April 26, 2007 | From the Associated Press and Bloomberg News
Bidding for one of the largest takeovers in corporate history escalated Wednesday as a group led by Royal Bank of Scotland said it planned a bid worth almost $100 billion for ABN Amro that tops Barclays' offer by more than 10%. Shareholders immediately pressured ABN to commit to accepting the highest bid, ahead of the Dutch bank's annual shareholders' meeting today, and analysts said the key battleground was LaSalle Bank Corp. in the U.S.
January 28, 2003 | From Associated Press
George Younger, a Conservative Party lawmaker who was defense secretary in the government of former Prime Minister Margaret Thatcher, has died. He was 71. Younger died Sunday at the family compound in Scotland, former colleagues said. A spokesman for the Royal Bank of Scotland, where Younger was once chairman, said the cause of death was cancer.
May 4, 2007 | From the Associated Press
Eager to fill one of the few holes in its coast-to-coast business, Bank of America Corp. hinted Thursday that it wasn't likely to back down without a fight after a Dutch court blocked its purchase of LaSalle Bank Corp.
December 12, 2012 | By David Pierson, Los Angeles Times
BEIJING - For millions of Chinese, the difference between a life of struggle and one of opportunity comes down to a little red booklet known as the hukou . Introduced 54 years ago under Mao Tse-tung as a means of social control, this household registration permit limits where China's 1.3 billion citizens can live, work and go to school by splitting them into two categories - urban and rural. Today, the hukou , inspired by family registers from centuries ago, has created a modern economic chasm between city dwellers and peasants that threatens China's economic future as a powerhouse world economy.
July 18, 2001 | Associated Press
Mellon Financial Corp. said it's selling its retail banking business to Citizens Financial Group, the U.S. arm of Royal Bank of Scotland Group, for $2.1 billion in cash. The sale will return Mellon to its roots as a private bank, managing money for individuals and corporations, Chief Executive Martin G. McGuinn said. The deal, which includes operations in Pennsylvania, Delaware, New Jersey and Virginia with total assets of $16.
January 21, 2009 | ASSOCIATED PRESS
The financial crisis has raised questions about the solvency of Britain's banks that may lead the Bank of England to buy up assets from them within "weeks, not months," the central bank's governor, Mervyn King, said Tuesday.
March 28, 2008 | From the Associated Press
A Texas judge issued a restraining order that in effect bars the banks that promised to finance the $19.5-billion buyout of Clear Channel Communications Inc. from backing out yet. Bexar County Judge John D. Gabriel issued a temporary restraining order just four hours after Clear Channel and the private equity buyers, led by Bain Capital and Thomas H. Lee Partners, sued Wednesday in Texas and New York.
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