U.S. loses status as top World Bank donor to Britain The United States lost its status as the largest donor to the World Bank, the lender said on Friday, as Britain pledged more in the latest funding round which secured a record amount for around 80 poor countries. 15 Dec 2007
Lehman earnings fall amid $830 million writedown Lehman Brothers Holdings Inc said on Thursday fourth-quarter earnings fell 11 percent, as the credit market crisis triggered write-downs, and the company said further write-downs were possible. 14 Dec 2007
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Northern Rock takes $574 million credit market hit, names new CEO Northern Rock said it had taken a 281 million pound ($574 million) hit, or two-thirds of its market value, from its exposure to the credit crisis, adding to its woes as it brought in a new chief executive. 13 Dec 2007
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Fed move seen restoring credibility The Federal Reserve's move to join with other central banks to ease the global credit crunch could help restore its credibility after stock investors criticized its latest rate action, a senior portfolio manager said on Wednesday. 13 Dec 2007
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Cerberus drops out of race for Northern Rock: Report U.S. private equity firm Cerberus has dropped out of the race for beleaguered British mortgage bank Northern Rock, the Times newspaper reported. 12 Dec 2007
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Pandit, in Citigroup's hot seat, has task cut out Vikram Pandit, Citigroup Inc's new chief executive, has taken on one of the toughest jobs in corporate America. Whether he is up to running the largest U.S. bank and fixing its many problems remains to be seen. 12 Dec 2007
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Citigroup names Pandit CEO, Bischoff chairman Citigroup Inc named investment banking head Vikram Pandit as chief executive and acting CEO Win Bischoff as chairman on Tuesday, disappointing investors who wanted a big-name outsider to overhaul the bank. 12 Dec 2007
World Bank launches forest carbon fund The World Bank on Tuesday launched plans for a $300 million fund to fend off global warming by preserving forests, but protesters said it risked turning homes of indigenous people into an asset for the rich. 11 Dec 2007
