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...South Korea's government announced it would guarantee external borrowing by Korean banks through June up to a total of $100 billion and to inject a further $30 billion into financial markets. The steps are aimed at alleviating growing difficulties Korean banks have faced getting U.S. dollar financing from skittish international banks. Korea's move followed the lead of other Asian governments. Last week, Hong Kong, Singapore and Malaysia guaranteed all bank deposits, part of a larger effort to rebuild confidence in financial markets. A half dozen Asian central banks, including China's, have cut interest rates in recent weeks...
...Despite Monday's mostly rosier mood, there were developments that could have given markets as much to choke on than cheer about. Over the weekend the heads of French savings bank Caisses d'Epargne were forced to resign following revelations that unauthorized derivatives trading last week produced a $810 million loss. On Sunday, meanwhile, the Netherlands said it would inject a further $13.5 billion into troubled finance company ING - another indication that European banks may not yet have entirely accounted for all the toxic debt they assumed...
Citibank, the consumer and corporate banking arm of Citigroup, terminated its custom loan program with international graduate students at Harvard earlier this month, according to University officials. The bank is also canceling similar agreements with international students at schools including MIT and the University of Michigan, financial aid officers at those schools said...
...Dubai's proposed kilometer-high skyscraper near Jebel Ali airport, recently announced that it is reassessing its overall staffing needs in line with "predictions of a downturn in the global economy." Boardrooms and coffee shops alike are buzzing with talk about the coming fall. The Cairo-based investment bank EFG-Hermes recently predicted that Dubai property values could tumble as much as 20% in the next three years. Share prices of Emaar, a public Dubai company that has become one of the biggest real estate developers in the world, have fallen by two-thirds since January...
Typosquatters usually target Web sites aimed at children, such as cartoonnetwork.com, or the Web sites of companies with names that are easily misspelled. But highly-trafficked sites, such as that of Bank of America, are also often targeted...