New York - Discover Financial Services Tuesday settled an 18-billion-dollar antitrust lawsuit at the last minute against its larger competitors Visa Inc and MasterCard Inc over charges the two companies had blocked banks from issuing its cards.
The deal, the terms of which were not announced, was sealed as jury selection was set to begin in Manhattan federal court.
Bloomberg financial news service quoted UBS AG analyst Adam Frisch as saying the case settled for about 2.8 billion dollars.
Amsterdam - Fortis will disappear as a brand name from the Netherlands, the chairman of the bank's board told Dutch BNR News Radio on Tuesday.
"We will have to let go of the brand name Fortis", Jan van Rutte told the broadcaster, noting the name now has a negative association, which might affect the bank adversely.
Van Rutte did not say whether Fortis will continue under the name of ABN Amro.
Two weeks ago the Dutch government nationalized Fortis Netherlands in a joint action with the Belgian government and French bank BNP Paribas in order to prevent Fortis' collapse.
Stockholm - Sweden is set to establish a fund to help banks that run into problems in future, Financial Markets Minister Mats Odell said Tuesday.
The Swedish National Debt Office was to manage the fund that was to be financed by the state and banking sector. The aim was to "stabilize" the bank sector and ensure lower mortgage rates, Odell told reporters.
London - Britain's nationalized mortgage lender Northern Rock said Tuesday it was "well ahead" of its government loan repayment target, having paid back more than half of the 26 billion pounds (45 billion dollars) in emergency loans from the Bank of England.
Government-appointed Northern Rock chief executive Ron Sandler said that, as at September 30, the sum of 11.4 billion pounds was still outstanding.
Since nationalization of Britain's fifth-biggest mortgage lender in February, Sandler's strategy has involved halving the balance sheet to 50 billion pounds by the end of
2011 by stopping all business lending and accelerating mortgage redemptions for existing customers.
Dubai - Amid the global financial crisis, Dubai ruler Sheikh Mohamed bin Rashid al-Maktoum ordered a further 19 billion dollars to be pumped into the national banking sector to boost liquidity, the Emirates news agency WAM reported on Tuesday.
The decision raised the amount of money that has been pumped into the banking sector to 32.7 billion dollars over the last month.
The UAE Central bank, along with the Ministry of Finance, are to inject the money into the national banking sector.
New York - Discover Financial Services Tuesday settled an 18-billion-dollar antitrust lawsuit at the last minute against its larger competitors Visa Inc and MasterCard Inc over charges the two companies had blocked banks from issuing its cards.
Amsterdam - Fortis will disappear as a brand name from the Netherlands, the chairman of the bank's board told Dutch BNR News Radio on Tuesday.
Stockholm - Sweden is set to establish a fund to help banks that run into problems in future, Financial Markets Minister Mats Odell said Tuesday.
Mumbai, Oct 14 : The Reserve Bank of India (RBI) on Tuesday decided to inject Rs.
