NEW YORK: Call it Overbanked of America. News that Bank of America Corp plans to shut some of its 6,109 branches may mark a turning point in what analysts have long deemed a nationwide glut in bank branches, as more customers favor banking from their computers and phones. The changes c…

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LONDON (AP) — The British economy contracted by twice as much as economists had forecast in the second quarter, leaving it mired in recession and dashing recent hopes of an imminent recovery as premature. Official figures released on Friday showed that the economy shrank by 0.8 per…

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NEW YORK (AP) — The Dow Jones industrials rose back above 9,000 for the first time since early January. Investors snapped up a broad range of stocks Thursday, sending major indexes up more than 2 percent, after existing home sales jumped for the third straight month in June. The 3…

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Adani Power, a flagship company of Adani Group, has fixed IPO (initial public offering) price band at Rs 90-100/share. The minimum IPO bid slot set at 65 shares, reports CNBC-TV18. A power project development company, promoted by Adani Enterprises Limited, with total revenues of Rs 196 b…

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DUBAI: Emaar Properties is still considering an initial public offering for its India MGF joint venture, in line with its strategy announced last year, the Dubai-based developer said on Thursday. Emaar, which is building the world’s tallest tower, said that while an IPO is being …

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NEW YORK (AP) — Morgan Stanley said Wednesday it lost more than $1.2 billion in the second quarter as it took charges to cover continuing losses in its real estate investments and its repayment of government bailout money. The investment bank said Wednesday it was also hurt for a s…

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Results today: BHEL, HDFC, Wipro, Tech Mahindra, Mastek, Piramal Healthcare, IFCI, India Cements, Hindustan Zinc, Ansal Housing, Aventis Pharma, Canara Bank, Finolex Cables, GTL, Jindal Drilling, Kale Consultants, Kalindee Rail, Lakshmi Energy, Maharashtra Seamless, NDTV, Spice Communicat…

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The Reserve Bank of India (RBI) released quarterly statistics on deposits and credit of scheduled commercial banks for March 2009, revealed that aggregate deposits of top hundred centres increased by 21% in March 2009 over March 2008 compared to a growth of 25.7% a year ago. Growth rate …

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Mumbai: Dalal Street is agog with talks of an imminent revival of the initial public offer (IPO) market. The newfound enthusiasm in the secondary market and the successful listing of a recent IPO have prodded stock market gurus to predict the resurrection of the segment, which has been c…

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The recession facing the global economy would last 24 months and — after having started in December 2007 — would be over by the end of this year, Nouriel Roubini, Chairman, RGEMonitor.com, said. In an interview to CNBC, Roubini, recognized as one of the few people who foresaw the fina…

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