U.S. banks

China Banks Post Record Profits as Rivals Stumble

Bloomberg reports that China’s largest banks posted impressive profits while their European and American counterparts posted losses: Industrial & Commercial Bank of China (601398) Ltd. posted a 29 percent increase in...

Morgan Stanley Posts Loss, Sells Stake to China – Reuters

Reuters reports on China’s recent bailout of U.S. investment bank Morgan Stanley: China has agreed to pump $5 billion into Morgan Stanley as the U.S. investment bank reported a stunning fourth-quarter loss fueled by $9.4 billion of losses in subprime mortgages and other assets. China’s investment, which could translate into as much as a 9.9 […]

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