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How American cities could cause the next financial crisis

Thursday, 30th September 2010

When it comes to bankrupt or near-bankrupt states, the focus right now is all on Europe. We've got Ireland figuring out what to do about Anglo-Irish Bank, with the final bill put at €29.3bn this morning (although it could hit €34bn in a 'severe hypothetical stress scenario'). And we've got the usual rumblings about Greece and Portugal and all the rest just waiting in the wings.

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Auditors face probe over client assets

Tuesday, 5th October 2010

Two of the big four audit firms are under investigation by the industry's disciplinary body as a result of a wide-ranging Financial Services Authority crackdown on the protection of client assets. The Accountancy & Actuarial Discipline Board (AADB) yesterday said it had begun a second probe into Ernst & Young's role as auditor to Lehman Brothers International (Europe) – the bank whose collapse in September 2008 triggered a global financial meltdown.

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Investment insider: London stock market is a good bet when UK economy is slow

Sunday 19th September 2010

The outlook for the UK economy is far from rosy. The Organisation for Economic Co-operation and Development and the European Commission reckon that growth will slow next year.

And many of Britain's directors are not confident about the outlook for their businesses.

It seems that speculation over the severity of the Government's austerity measures has spooked them. So, as businesses invest less, scale back expansion and curtail hiring new staff, the UK economy could quickly lose momentum.

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World economy: The billion-pound punt

Frday 24th September 2010

The way some economists talk about it, you might think that the future of the world economy rests on a cruise ship. But the QE2 getting central bankers and City types excited will not be setting sail from Southampton any time soon. No, what they're referring to is another round of quantitative easing, or pumping billions into financial markets in order to jumpstart an economy stuck in a rut.

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Banking commission promises to ask 'hard questions'

Friday, 24th September 2010

Sir John Vickers today outlined plans for a much deeper and wider investigation into the UK banking business than had been anticipated, setting out a wide range of options that could force big banks to split in two and separate their "casino" arms and high street businesses or cause banks such as Lloyds to be dismantled.

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