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Banks shuttered in Fla., Ill., Md., Utah

Thursday, March 17th, 2011

Regulators on Friday shuttered banks in Florida, Illinois, Maryland and Utah, boosting to 26 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.

European stocks edge ahead as investors await data

Thursday, March 17th, 2011

Europe’s leading stock markets nudged higher on Wednesday as traders awaited key US economic data and assessed the latest batch of company results.

Franco-German spat fuels EU economic debate

Thursday, March 17th, 2011

An economic policy  dispute between France  and Germany threatens to distract the eurozone as it faces fierce competition from Asian rivals, analysts and German media warned Tuesday.

BofA to start reducing mortgage principal

Thursday, March 17th, 2011

Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure.

Fed’s Evans: Monetary policy not effective for pricking bubbles

Thursday, March 17th, 2011

Monetary policy  is not an effective tool for pricking asset bubbles, but central banks without authority to supervise banks may have no alternative, Chicago Federal Reserve President Charles Evans said Tuesday.

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