Finance News
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MF Global Holdings Ltd., the holding company for the broker-dealer run by ex-Goldman Sachs Group Inc. co-chairman Jon Corzine, filed for bankruptcy protection as it seeks to reorganize after making bets on European sovereign debt. Its broker-dealer unit, MF Global Inc., faces liquidation.
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Barclays Plc, Britain’s second- biggest bank by assets, reported a quarterly profit that beat estimates as earnings at the U.K. consumer bank more than doubled and investment bank revenue declined by less than European peers.
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MF Global Holdings Ltd.’s bankruptcy filing may prompt the U.S. Federal Reserve to “rethink” the definition of systemically important firms and to expand its oversight, according to bank analyst Richard Bove.
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Europe’s largest banks may raise just a tenth of the total capital shortfall estimated by regulators, fueling concern policy makers’ plans to bolster the region’s lenders could fail.
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