World Business Briefs at 4: Euro zone M3; Lloyd's of London; WaMu
NewsWire18, Thursday, Sep 25 - Round-up of global economies and
business
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ECONOMY
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EURO ZONE M3 money supply growth slowed to an annual rate of 8.8% in
August,
the European Central Bank reported today, down from 9.1% in July, and
slightly below expectations of 8.9% growth. Annual M3 growth over Jun-
Aug
declined to 9.2% in the 15-nation zone from 9.6% in May-Jul.
(MarketWatch)
+++
JAPAN'S TRADE BALANCE showed a deficit in August for the first time
since
January, as export growth slowed. The monthly trade balance had a
deficit of
324 bln yen (141.1 bln rupees), with exports inching up 0.3%, and
imports up
17.3%, according to data released by ministry of finance.
(MarketWatch)
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COMPANIES
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LLOYD'S OF LONDON, world's biggest insurance market, recorded low
profits due
to falling investment income, and rising cost of claims. Pre-tax
profit for
Jan-Jun fell to 949 mln sterling (81.55 bln rupees), down from 1.8 bln
sterling (154.65 bln rupees) in 2007. (BBC)
+++
WASHINGTON MUTUAL INC has approached private equity firms for a
potential
takeover after listed firms showed reluctance. Carlyle Group and
Blackstone
Group LP will team up with Texas billionaire and investor Gerald J.
Ford, are
among private equity firms considering a possible deal. (various)
+++
DAIMLER said it is in talks with private equity group Cerberus to sell
its remaining 19.9% in US carmaker Chrysler. Cerberus bought 80.1% of
the
firm in May 2007 for $7.4 bln (341.73 bln rupees). The value of
Daimler's
current stake is unknown. (BBC)
+++
BANK OF EAST ASIA has recovered from a run on its deposits, on cash
injection
from the government. Hong Kong's central bank added an estimated HK
$3.9 bln
(23.17 bln rupees) to the territory's banking system. Government also
repeated the bank's assurances that it is sound. (BBC) End
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