October 29th, 2008
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The European Commission on Wednesday backed a call by the region's carmakers for €40 billion in low-interest loans to help develop cars which meet toughening European Union carbon dioxide emissions targets.
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The EU supports granting carmakers loans at attractive rates as the global downturn bites.
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The European Union backs the idea of granting carmakers loans at attractive rates in the wake of global downturn.
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BUDAPEST, Hungary, Oct. 29 (UPI) -- Hungary is close to securing loans totaling $25.1 billion intended to put its strained financial system back on its feet, the International Monetary Fund said.
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As credit streams from troubled Western banks dry up in the financial crisis, Russian oil companies, The New York Times’s Andrew E. Kramer writes, are negotiating multibillion-dollar loans from a more reliable source: the cash-rich Chinese government.
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Oct. 29 (Bloomberg) -- Sumitomo Mitsui Financial Group Inc. , Japan's third-biggest bank by revenue, cut its profit forecast 63 percent after credit market losses and bad loans triggered a plunge in first-half earnings.
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WASHINGTON — An impatient White House prodded banks and other financial companies Tuesday to quit hoarding billions of dollars flowing into their vaults from Washington and start making more loans.
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Sun Bancorp Inc. of Vineland said its net income in the third quarter declined nearly 31 percent, in part because it had to set aside more money for nonperforming loans.
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WASHINGTON (AP) — An impatient White House prodded banks and other financial companies Tuesday to quit hoarding billions of dollars flowing into their vaults from Washington and start making more loans. Wall Street soared nearly 900 points on bargain-hunting and hopes of a hefty interest rate cut by the Federal Reserve.
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