We live in interesting times.
Where has all the money gone?
Dubai?
China?
Abu Dhabi?
India?
Parked Offshore?
You could write a good thriller or conspiracy theory on Arab/islamic Economic Imperialism with all this couldn't you?
Of course they learnt from the masters of this type of war- the USA.
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ZURICH (Reuters) - Shares in Swiss-based bank UBS AG powered higher on Wednesday on speculation that Asian or Gulf-based investors may target European banks whose stock has weakened in the wake of the subprime crisis.
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Citigroup to sell $7.5 billion stake to Abu Dhabi Reuters - Tue Nov 27, 4:16 PM ET
NEW YORK/DUBAI (Reuters) - Citigroup Inc is selling up to 4.9 percent of itself for $7.5 billion to the Gulf Arab emirate of Abu Dhabi, giving the largest U.S. bank fresh capital as it wrestles with the subprime mortgage crisis and a search for a new chief executive.
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Citigroup board spurns Bank America overture: report Reuters - 1 hour, 23 minutes ago
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NEW YORK (Reuters) - Citigroup Inc got a call from a prominent investment banker suggesting a merger with Bank of America Corp as it was dealing with billions of dollars in mortgage-related losses and the departure of Chief Executive Charles Prince, the Wall Street Journal reported Wednesday in its online edition.
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CHICAGO (Reuters) - Two Federal Reserve Bank officials hinted strongly on Tuesday that they would not support an interest rate cut in December, contending that the Fed has provided enough insurance against financial turmoil and would risk opening the door to higher inflation.
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OPEC powers alarmed by oil price, but coy on policy Reuters - Wed Nov 28, 2:09 AM ET
SINGAPORE (Reuters) - Top Gulf OPEC officials expressed alarm on Wednesday at oil prices threatening to top $100, but reiterated that markets were well supplied and steered clear of saying whether OPEC would raise output next week.
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Most Viewed Business News on Yahoo! News
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US
Fed acts to calm jitters, ease pressure on banks as credit crisis deepens - Greg Ip (WSJ)
Ip writing about the comments yesterday that the Fed would extend loans for longer-than-usual terms to dealers.EUROPE
ECB's Noyer said subprime losses are seen around USD 250bln, which is significant but bearable (RTRS)** Noyer urged all the central banks to ensure there is ample liquidity in financial markets to alleviate tensions.
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Forums - Ransquawk Overnight News Summary 27/11/07
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Bank of China shares skid after Temasek trims stake
By Tony Munroe of Reuters
HONG KONG -- Bank of China's shares have fallen as much as 9.4 per cent after Temasek Holdings sold a million stake amid market worries over the lender's exposure to the US subprime mortgage crisis.
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Business Spectator - Bank of China shares skid after Temasek trims stake
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1 Wolseley feels US crunch with 12% crash
(28 November 2007)
Wolseley today said profits crashed 12% in the last quarter as the American housing market juddered to a halt
News » Columnists
3 10m Britons falling into black hole of debt
(28 November 2007)
More than ten million adults are facing financial dire straits because they cannot cope with rising mortgage payments and other debts
Companies & markets » Tips and tactics.
4 Market report: Wednesday latest
(28 November 2007)
11.30: Britain's High Street banks are still having to come to terms with the fallout from the subprime mortgage meltdown as brokers continue to downgrade
7 Debt wrapped in an enigma
(27 November 2007)
The disclosure that HSBC has decided to bail-out two investment funds to the tune of up to £17bn shows how little we know about the commitments of the big financial groups
8 Yesterday's trading: Bears feed on credit fears
(27 November 2007)
Overweight bears continue to picnic as the sub-prime crisis shows no signs of abating
9 Brokers offering 'unaffordable' mortgages
(26 November 2007)
Mortgage brokers have been accused of pushing through unaffordable homeloans and implausible earnings information, in a report by the financial watchdog
10 HSBC shores up funds with £17bn boost
26 November 2007)
Britain's biggest bank today moved to shore up the two structured investment vehicles which it manages by providing them with up to $35bn (£17bn) of liquidity
11 Top economist warns of more pain to come
(26 November 2007)
Bank of England chief economist Charlie Bean today warned of further pain for banks and other finance houses in the wake of the credit crunch
13 Global growth to stall in 2008
(26 November 2007)
The turmoil battering financial markets will push global economic growth down to levels last seen in the aftermath of the September 11 terrorist attacks, according to an economic think tank
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