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Goldman Sachs fears risks if rivals BNP Paribas and Credit Suisse plead guilty to violating sanctions, abetting tax evasion

The head of US bank Goldman Sachs has warned that guilty pleas from rivals BNP Paribas and Credit Suisse, under legal proceedings in the United States, could hurt the financial system. The two European banks, under probes for violating US sanctions……

U.S. seeking multi-billion dollar settlement with France’s biggest bank: report

US authorities are seeking several billion dollars from BNP Paribas to settle a probe into whether it violated US sanctions on several countries, the Wall Street Journal reported late Wednesday. The total would be higher than what had been estimated in press reports said far. The bank has told the…

Economist survey: Obama plan would halt recession, add or keep 275,000 jobs

In a recent survey of 34 economists, Bloomberg News found that most agreed with less-than-optimistic predictions about President Barack Obama’s jobs plan, saying it would essentially halt the recession and push the unemployment rate down, but just slightly. The $447 billion plan, achieved mostly through reforming the tax code to…

World stocks surge on eurozone debt hopes

Global stocks rallied for a second day with a strong advance in Europe and Asia on Tuesday on signs that EU and world leaders are preparing a blockbuster response to the eurozone debt crisis. The euro steadied against the dollar as Greek Prime Minister George Papandreou headed for talks with…

European stocks fall on Greek crisis

European equities and the euro fell on Wednesday on fresh concerns over banks’ exposure to indebted Greece, but losses were capped by expectations of more stimulus measures from the US Federal Reserve. London’s FTSE 100 index of leading shares slid 0.34 percent to 5,345.76 points in morning deals, Frankfurt’s DAX…

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