Nikkei Reverses Gains, Down by Up to 3%
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From the FOMC Minutes, to an unexpected weak report on manufacturing in China, what has changed about investing strategy? CNBC's Maria Bartiromo shares her observation.
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NEW YORK, May 23- For the past few months, the U.S. The Fed's evolving stance was made apparent by Federal Reserve chairman Ben Bernanke's remarks to Congress Wednesday, where he laid out the conditions that might cause the Fed to reduce its $85 billion a month buying of Treasuries and mortgage-backed bonds.
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LONDON, May 23- The euro zone is more stable than a year ago but economic conditions remain challenging and governments must push on with reforms and banking union plans, European Central Bank President Mario Draghi said on Thursday.
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From the FOMC Minutes, to an unexpected weak report on manufacturing in China, what has changed about investing strategy? CNBC's Maria Bartiromo shares her observation.
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SALT LAKE City, May 23- After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc CEO Lloyd Blankfein claimed success in putting his bank and his legacy back on track.
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NEW YORK, May 23- Investors' hair-trigger reaction to Federal Reserve Chairman Ben Bernanke's testimony on Wednesday marks a delicate new policy phase for the U.S. central bank in which communication is paramount.
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May 23- On Wednesday in Washington, Federal Reserve Chairman Ben Bernanke presented congressional testimony that repeated, virtually word for word, statements about U.S. monetary policy he has been making since last September. The speculation spread to Tokyo Thursday.
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NEW YORK, May 23- U.S. The bond market was on another roller-coaster ride on heavy volume, a day after remarks by Federal Reserve Chairman Ben Bernanke about the U.S. central bank's bond purchase program prompted a massive sell-off in Treasuries.
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SALT LAKE City, May 23- After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs CEO Lloyd Blankfein is claiming a victory in getting his bank, and his legacy, back on track.
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VIENNA, May 23- Austria's central bank is to investigate personal property deals by Raiffeisen Bank International's chief executive after media reports he had made use of front companies.
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Goldman Sachs raises its S&P year-end price target to 1,750 after its prior target is met. David Kostin, Goldman Sachs, explains.
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*Earned C $1.90 a share, vs analysts' forecast of C $1.91. TORONTO, May 23- Toronto-Dominion Bank reported a 2 percent increase in quarterly earnings as higher trading, business lending and U.S. banking income offset slowing loan growth in its core Canadian market.
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*Hikes size to $465 mln from $350 mln. DUBAI, May 23- National Bank of Abu Dhabi, the UAE's largest lender by market value, has increased its convertible bond offering to $465 million following high demand from investors for a rare convertible from the Gulf region. NBAD shares closed on Thursday at 12.05 dirhams.
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LONDON, May 23- Gold rose on Thursday as the dollar remained under pressure after falling U.S. weekly jobless claims and as a senior Federal Reserve official said the central bank is in no hurry to start winding down its economic stimulus.
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David Cote, Honeywell International and JPMorgan board member, and Robert Nardelli, Cerberus Capital, discuss lessons learned from the fight about splitting Jamie Dimon's role.
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LONDON, May 23- A top U.S. central bank official sought to reassure financial markets that the Federal Reserve was not in a hurry to start winding down its economic stimulus as investors worried about comments by its chairman Ben Bernanke.
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*Praet says ECB could expand its instruments. PARIS/ WASHINGTON, May 23- The European Central Bank is looking into expanding its range of policy tools, while the U.S. central bank is mulling scaling back its support measures, highlighting the contrasting fortunes between the world's two biggest economic blocs.
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*Earnings of C $1.90 per share vs analysts' forecast of C $1.91. TORONTO, May 23- Toronto-Dominion Bank reported a 2 percent increase in quarterly earnings, driven by stronger trading-related revenue and higher income from its U.S. retail banking unit.
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*Jeering protesters gather outside AGM venue. FRANKFURT, May 23- Deutsche Bank's bosses tried to convince sceptical shareholders at a lively annual meeting on Thursday that the bank was on the right track again after facing a host of legal problems.
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TORONTO, May 23- Toronto-Dominion Bank's quarterly profit rose 2 percent, driven by stronger wholesale banking income, the bank said on Thursday. The bank, Canada's second-largest, said it had earned a net C $1.72 billion, or C1.78 a share, in the second quarter ended April 30. That compared with a year-earlier profit of C $1.69 billion, or C $1.78 a share.
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The attention this week on the ability of Apple and other prominent American corporations to avoid corporate taxes through offshore tax arrangements obscures a perhaps more significant development, highlighted by Luxembourg's abrupt retreat from banking secrecy, the NYT reports.