(BUAT KALANGAN SENDIRI, YA...)
STORY:++France Bank- NEW French bank reveals huge loss, finance min presser, voxpops DATELINE: Paris - 17 Oct 2008 STORYLINE: French bank Caisse d'Epargne said on Friday it lost 600 (m) million euros (810 (m) million US Dollars) trading derivatives as stock markets collapsed last week, prompting France's finance minister to order a probe of all French banks. The mutual bank said in a statement that the loss occurred in equity-derivatives trading for its own account and was triggered by the "extreme market volatility" and the market crash during the week of October 6. The Paris-based bank said the loss will not affect its financial solidity because it has capital of more than 20 (b) billion euros (27 (b) billion US Dollars) and significant liquidity. The bank said it had sanctioned those responsible and notified regulators, without elaborating. Several calls by The Associated Press to the bank seeking further details were not immediately returned. French Finance Minister Christine Lagarde has asked the banking regulator to investigate Caisse d'Epargne's trading operations and to verify that all banks are complying with rules on overseeing their market operations, although she was relieved the loss didn't affect the solidity of the bank itself. Caisse d'Epargne customers were worried by the news with some even wondering if they would have been better off keeping their money at home rather than depositing it in the bank. Caisse d'Epargne and another French mutual bank, Banque Populaire, announced last week plans to combine. The tie-up would make the company one of France's biggest banking groups, with a total of 480 (b) billion euros (659 (b) billion US dollars) in savings deposits and more than six (m) million customers. The banks already jointly control investment bank Natixis, which has been among those hardest hit in France by the meltdown in United States subprime mortgage markets. It was recently forced to raise 3.7 (b) billion euros (5 (b) billion US Dollars) in fresh capital. ================ AP-APTN-1530: US Markets AP-APTN-1530: US MarketsFriday, 17 October 2008 DATELINE: New York City - 17 Oct 2008 STORYLINE: Wall Street declined in erratic trading on Friday after the government said new home construction dropped by more than expected last month to the lowest pace since early 1991. The Dow Jones industrial average fell more than 250 points shortly after the open before paring its losses. Housing starts fell more than 6 percent in September to an annual rate of 817-thousand units, the Commerce Department reported. That figure is lower than the 880-thousand units forecast by Wall Street economists surveyed by Thomson/IFR. Building permits also sank. The report was yet another piece of evidence that the nation is struggling with a weak economy that, if the financial crisis is not solved, could dive into a sustained downturn. President George W. Bush on Friday said in a speech that the credit markets - where many companies find funding for their operations - will take a while to thaw but that Americans should be confident that it will. Investors appeared to look past a reading on October consumer sentiment, perhaps because it was expected after a stream of other negative data on consumers. A weaker-than-expected report on retail sales Wednesday made clear that consumers nervous about the economy and the faltering stock market are less willing to pull out their wallets. It's been an erratic week on Wall Street, with the Dow soaring 936 points on Monday, slipping moderately Tuesday, sinking 733 points Wednesday, and then rallying 401 Thursday. The volatility is not providing investors with much relief, but it is a welcome change from last week's relentless plunge, during which the Dow logged its worst week ever and Wall Street lost about 2.4 (tr) trillion US dollars in shareholder wealth. In midmorning trading, the Dow Jones industrial average fell 108.01, or 1.20 percent, to 8,871.25, after being down 261 points and briefly edging higher. Broader stock indicators also fell. The Standard &amp; Poor's 500 index declined 5.07, or 0.54 percent, to 941.36, and the Nasdaq composite index fell 8.74, or 0.51 percent, to 1,708.97. Send instant messages to your online friends http://uk.messenger.yahoo.com ------------------------------------ -------------------------------------------------- Ikatan Alumni SMA Negeri 1 Bekasi, forum untuk menambah teman, saudara, sahabat, dan [.....]. Jika ingin berhenti menerima email dari sma1bks, kirim email ke [EMAIL PROTECTED] Ingin menerima email dari sma1bks, kirim email ke [EMAIL PROTECTED] Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/sma1bks/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/sma1bks/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
