Wells Fargo Bank (WFC) and CIBC (CM) have been named the Best Internet Banks for U.S. and Canada respectively for 2009 by Global Finance magazine. The winners were selected based on the following criteria: “strength of strategy for attracting and servicing online customers, success in getting clients to use web offerings, growth of online customers, …
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Source: National Institute of Economic and Social Research The above chart compares the current recession in U.K. to past economic slumps.
In the U.S., the pension plans of state and local governments have a large portion of their assets in equities. Due to this high exposure to equities, the plans suffered severe losses as the markets fell hard until March this year. The average asset allocation of U.S. Define Benefit (DB) plan has 60% in equities, …
Today the Office for National Statistics announced that GDP shrank at a rate of 0.8% between in the second quarter. This is higher than the 0.3% economists had predicted.The GDP has contracted for the fifth consecutive quarter and is approaching the levels of 1980s recession. On July 16th, IMF released the Staff Report for UK. …
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The Best Banks of Russia in different categories for 2009 as per Global Finance magazine are as follows: Domestic -Â Â Â VTB Foreign -Â Â Â Citi (C) Regional -Â Â Â UralSib Domestic Investment – Â Â Â Troika Dialog Foreign Investment – Â Â Â Credit Suisse (CS) Commercial -Â Â Â Sberbank Consumer -Â Â Â Raiffeisen (RAIFF.PK) Foreign Exchange -Â Â Â VTB Domestic Trade Finance …