Thu May 10, 2012

Trying To Avoid Bailout, Spain Takes On Ailing Banks

Originally published on Thu May 10, 2012 8:50 pm

The Spanish government took a controlling stake in Bankia, the country's fourth-largest bank and largest real estate lender, on Wednesday.
Paul Hanna Reuters /Landov

Spain nationalized its largest real estate lender Wednesday night and plans to announce an overhaul of the country's entire banking system Friday.

The country is scrambling to prevent its troubled banks — weighed down by property debts — from sabotaging the whole economy. The Spanish government has only to look northward to Ireland to see what could happen if it fails.

Lessons From Ireland

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Mon May 7, 2012
The Two-Way

Exxon Back At No. 1 On 'Fortune 500' List; Wal-Mart Knocked To No. 2

Originally published on Mon May 7, 2012 7:04 am

At an Exxon Mobil gas station in Chicago; July 29, 2010.
John Gress Getty Images

After two years in second place, Exxon Mobil is back on top of the Fortune 500.

With 2011 revenues of $452.9 billion, the oil and energy giant edged out Wal-Mart Stores, which brought in $447 billion, Fortune magazine just reported.

Wal-Mart took the top spot from Exxon Mobil two years ago and held on to it again last year. Soaring oil prices are a major factor in Exxon's move back to No. 1.

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Wed May 2, 2012

Business news

Originally published on Wed May 2, 2012 5:59 am



NPR's business news starts with falling profits for UBS.


GREENE: Suisse Bank UBS announced today that their profits fell 54 percent in the first quarter of this year. The drop is blamed on a decrease in investment banking income, and also because of an accounting charge on its debt.

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Fri April 27, 2012

Dilemma For European Banks: Clean Books Or Lend?

Originally published on Fri April 27, 2012 7:35 am

Many of the most troubled European banks, like the French-Belgian Dexia, lost money in subprime mortgages and Greek bonds.
Yves Logghe AP

The walls of the Clock Shop in downtown Frankfurt, Germany, are lined with timepieces of every kind, from cuckoo clocks to digital watches. It's a testament to the store's 55-year history as a functioning business.

One of the things that has remained constant for much of that time is the store's relationship with its bank, owner Basia Szlomowicz says.

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Wed April 25, 2012

Activists Disrupt Wells Fargo Shareholders Meeting

Originally published on Wed April 25, 2012 4:33 pm



And there were protests and arrests at the Wells Fargo annual shareholders meeting in San Francisco yesterday. The demonstration - led by the Occupy Movement - was over the bank's foreclosure and lending policies. Hundreds of protesters bought bank shares so they could attend the meeting and disrupt proceedings. [POST-BROADCAST CORRECTION: While hundreds sought to disrupt the meeting, several dozen people representing community groups had purchased stock.]

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