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Oct 23 2009
US to limit 'bailout' executive pay
Economy
By Agencies   
Obama said that the limits on executive pay at firms holding bailout money are justified [AFP]
Obama said that the limits on executive pay at firms holding bailout money are justified [AFP]
The US treasury has ordered seven companies that received multi-billion dollar bailout packages at the height of the US financial crisis to halve their overall compensation payments to senior executives.

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Tags:  Kenneth Feinberg US treasury
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Morgan Stanley returns to profit
Economy
By Agencies   

Morgan Stanley is one of a handful of major US financial companies to return to profit [AFP]
Morgan Stanley is one of a handful of major US financial companies to return to profit [AFP]
Morgan Stanley, a US finanacial services firm, has reported a net profit of $498m for the third quarter on the back of a stronger than expected performance in its investment banking operations.

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Tags:  Morgan Stanley
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Brown in rift with UK central bank
Economy
By Agencies   
King called for a fundamental rethink of how the banking sector is structured and regulated [EPA]
King called for a fundamental rethink of how the banking sector is structured and regulated [EPA]
Gordon Brown, the British prime minister, has dismissed suggestions that large banks should be broken up to prevent future financial collapses, putting him at odds with Mervyn King, the governor of the Bank of England.

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Tags:  Brown UK central bank
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US treasury faces bonds lawsuit
Economy
By Agencies   

The US treasury issued the 'war' bonds - which have a 40-year maturity period - until 1980 [AP]
The US treasury issued the 'war' bonds - which have a 40-year maturity period - until 1980 [AP]
The US federal government is facing a lawsuit over $16bn in unclaimed bonds going back as far as World War II, with six states arguing that the US treasury department should pay them out.

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Tags:  US treasury
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Medvedev backs major Serbia loan
Economy
By Agencies   
Medvedev, left, is the first Russian president to visit Serbia where he held talks with Tadic, right [EPA]
Medvedev, left, is the first Russian president to visit Serbia where he held talks with Tadic, right [EPA]
Dmitry Medvedev has become the first ever Russian president to visit Serbia during a one-day trip to Belgrade, the capital, where he approved a major loan and discussed energy deals with Boris Tadic, his Serbian counterpart.

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Tags:  Medvedev Serbia
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