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<title>Financial Services RSS Feed</title>
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<description>The financial industry meltdown has been the worst since the great depression. BNET Financial provides daily industry trends and news coverage with insights for managers and executives about the major financial services companies in the banking and finance sector. In addition to detailed company profiles, we bring you industry analysis on new mergers, partnerships, financial products, rates, investments, capital, and a host of other critical factors of success in the finance business.</description>
<category>Financial Services</category>
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<lastBuildDate>Sat, 07 Nov 2009 16:59:06 PST</lastBuildDate>
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<item>
	<title><![CDATA[U.S. Regulators Close Gateway Bank, Prosperan Bank]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/regulators-gateway-bank-prosperan-bank/19435/</link>
	<description><![CDATA[
	WASHINGTON (Reuters) - Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year. The Federal Deposit Insurance Corp said Gateway Bank of St Louis had $27.7 million in assets and...
				<ul>
					<li><a class="source" href="http://feeds.reuters.com/~r/reuters/businessNews/~3/EHCOdGFxUlI/idUSTRE5A600Y20091107">Reuters</a> - Regulators close Gateway Bank, Prosperan Bank</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/regulators-gateway-bank-prosperan-bank/19435/</guid>
	<dc:creator>Reuters</dc:creator>
	<pubDate>Fri, 06 Nov 2009 17:00:10 PST</pubDate>
</item>
<item>
	<title><![CDATA[Insider trading net entangles further suspects]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/insider-trading-net-entangles-suspects/19411/</link>
	<description><![CDATA[
	When federal agents arrested Raj Rajaratnam, founder of the Galleon Group, in October, hedge fund managers across the US sat up and took notice. US prosecutors accused Mr Rajaratnam and five others of operating a $20m (£12m) insider-trading ring, and the investigation appeared initially to focus...
				<ul>
					<li><a class="source" href="http://lawprofessors.typepad.com/securities/2009/11/government-charges-14-defendants-with-insider-trading.html">Securities Law Prof Blog</a> - Government Charges 14 Defendants with Insider Trading</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/insider-trading-net-entangles-suspects/19411/</guid>
	<dc:creator>Financial Times</dc:creator>
	<pubDate>Fri, 06 Nov 2009 15:43:47 PST</pubDate>
</item>
<item>
	<title><![CDATA[Need to know: Segro sells site ... L'Oreal prettier ... Skype pact]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/segro-sells-site-loreal-prettier/19420/</link>
	<description><![CDATA[
	View video and Need to Know interactive heatmap Economics Inflation: Annual input price inflation for British manufacturers rose at an annual rate of 0.1 per cent in October, the first rise since February. Factory gate inflation also picked up, rising 1.7 per cent on the year in October, up from...
				<ul>
					<li><a class="source" href="http://www.timesonline.co.uk/tol/business/markets/article6907155.ece#cid=OTC-RSS&attr=2876277">Times Online</a> - Investors do not follow Leed Petroleum</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/segro-sells-site-loreal-prettier/19420/</guid>
	<dc:creator>Times Online</dc:creator>
	<pubDate>Fri, 06 Nov 2009 16:01:00 PST</pubDate>
</item>
<item>
	<title><![CDATA[AIG Posts Second Straight Profit]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/aig-posts-straight-profit/19389/</link>
	<description><![CDATA[
	By Lilla Zuill NEW YORK (Reuters) - AIG, the giant insurer bailed out by the U.S. government, posted its second straight quarterly profit on Friday, helped by recovery in the value of its investments. American International Group Inc (AIG) shares, which rallied on Thursday ahead of the earnings...
				<ul>
					<li><a class="source" href="http://feeds.reuters.com/~r/reuters/businessNews/~3/wIFmGCE-EJc/idUSTRE5A51WG20091106">Reuters</a> - AIG posts second consecutive quarterly profit</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/aig-posts-straight-profit/19389/</guid>
	<dc:creator>Reuters</dc:creator>
	<pubDate>Fri, 06 Nov 2009 13:00:16 PST</pubDate>
</item>
<item>
	<title><![CDATA[Blackstone Profit Tops View; Sees More Deals Ahead]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/blackstone-profit-tops-view-sees/19388/</link>
	<description><![CDATA[
	By Megan Davies NEW YORK (Reuters) - Private equity firm Blackstone Group LP (BX) posted a forecast-beating quarterly profit on Friday and said it is gearing up for more deals and IPOs as the lending and equity markets recover. The company, which has immense real estate and private equity assets,...
				<ul>
					<li><a class="source" href="http://feeds.reuters.com/~r/reuters/businessNews/~3/0wCN9npnE8I/idUSTRE5A52L320091106">Reuters</a> - Blackstone posts profit; sees more deals ahead</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/blackstone-profit-tops-view-sees/19388/</guid>
	<dc:creator>Reuters</dc:creator>
	<pubDate>Fri, 06 Nov 2009 13:00:21 PST</pubDate>
</item>
<item>
	<title><![CDATA[Fannie Mae Posts $18.9 Billion Loss]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/fannie-mae-posts-189-billion/19306/</link>
	<description><![CDATA[
	
				<ul>
					<li><a class="source" href="http://www.bnet.com/2407-14037_23-361595.html">Reuters</a> - Fannie Mae Posts $18.9 Billion Q3 Loss, Taps Treasury</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/fannie-mae-posts-189-billion/19306/</guid>
	<dc:creator>New York Times</dc:creator>
	<pubDate>Fri, 06 Nov 2009 02:34:42 PST</pubDate>
</item>
<item>
	<title><![CDATA[Wayne Swan takes aim at high income earners through super tax reform]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/wayne-swan-takes-aim-income/19265/</link>
	<description><![CDATA[
	In a speech delivered yesterday, Swan noted a number of tax reforms that could take place as a result of the review, including a number of "unpopular choices" regarding super tax breaks for high-income earners. Swan said Australians must look to their sense of fairness when it comes to...
				<ul>
					<li><a class="source" href="http://www.finance.news.com.au/story/0,10166,26312331-5017676,00.html?from=public_rss">news.com.au</a> - Simpler tax system that targets the rich</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/wayne-swan-takes-aim-income/19265/</guid>
	<dc:creator>SmartCompany</dc:creator>
	<pubDate>Thu, 05 Nov 2009 15:57:28 PST</pubDate>
</item>
<item>
	<title><![CDATA[Need to know: BP biofuel plant ... Emirates profits up ... Aramark acquisition ...]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/pbiofuel-plant-emirates-profits-aramark/19258/</link>
	<description><![CDATA[
	View video and Need to Know interactive heatmap Economics Quantitative easing: The Bank of England voted to increase its quantitative easing programme by £25 billion, taking it to £200 billion, and to leave interest rates unchanged at 0.5 per cent. Manufacturing output: Official figures showed...
				<ul>
					<li><a class="source" href="http://feeds.reuters.com/~r/reuters/businessNews/~3/tikem-ya9ns/idUSTRE5A35LV20091104">Reuters</a> - Prudential swings to 3rd-quarter profit</li>
					<li><a class="source" href="http://www.timesonline.co.uk/tol/business/industry_sectors/need_to_know/article6903647.ece#cid=OTC-RSS&attr=2876277">Times Online</a> - Need to know: Ultrasis profit ... Haven investment ... WSP trading update ...</li>
					<li><a class="source" href="http://traxfer.ft.com/cms/s/0/c9580512-c927-11de-b551-00144feabdc0.html?o=%2Frss%2Fmarkets">Financial Times</a> - Cars and banks lead Europe higher</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/pbiofuel-plant-emirates-profits-aramark/19258/</guid>
	<dc:creator>Times Online</dc:creator>
	<pubDate>Thu, 05 Nov 2009 16:01:00 PST</pubDate>
</item>
<item>
	<title><![CDATA[Wall St charges highlight legal role]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/wall-st-charges-highlight-legal/19232/</link>
	<description><![CDATA[
	The inclusion of two lawyers among the 14 new people facing criminal charges in the hedge fund insider trading ring highlights the crucial role played by the legal profession in Wall Street dealmaking. Arthur J. Cutillo was on Thursday charged with criminal conspiracy and securities fraud for...
				<ul>
					<li><a class="source" href="http://www.forbes.com/2009/11/05/octopussy-insider-trading-business-wall-street-galleon.html?feed=rss_business">Forbes</a> - At Center Of Insider Case: 'The Octopussy'</li>
					<li><a class="source" href="http://feeds.ziffdavis.com/~r/ziffdavis/pcmag/breakingnews/~3/inHxazuAfGU/0,2817,2355482,00.asp">PC Magazine</a> - Insider Trading Scandal Nails 14 More</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/wall-st-charges-highlight-legal/19232/</guid>
	<dc:creator>Financial Times</dc:creator>
	<pubDate>Thu, 05 Nov 2009 13:14:21 PST</pubDate>
</item>
<item>
	<title><![CDATA[UK experiment raises prospect of new asset class]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/uk-experiment-raises-prospect-asset/19208/</link>
	<description><![CDATA[
	UK regulators have embarked on an experiment that could redefine the way banks are financed. As part of a £21bn capital raising, Lloyds Banking Group, in which the government has a 43 per cent stake, launched an offer for holders of about £16bn of outstanding hybrid debt to exchange into new...
				<ul>
					<li><a class="source" href="http://traxfer.ft.com/cms/s/0/833b6f8e-ca34-11de-a3a3-00144feabdc0.html?o=%2Frss%2Fmarkets">Financial Times</a> - Stability concerns over Coco bonds</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/uk-experiment-raises-prospect-asset/19208/</guid>
	<dc:creator>Financial Times</dc:creator>
	<pubDate>Thu, 05 Nov 2009 11:21:11 PST</pubDate>
</item>
<item>
	<title><![CDATA[How high will bonuses be this year?]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/bonuses/19196/</link>
	<description><![CDATA[
	We all know bonuses at non-TARP banks will be higher. But how much? Johnson Associates projects employees at Wall Street banks will see between a 30 percent and 40 percent rise compared with last year. Bonuses will still lag 2007 levels, however.  Article
				<ul>
					<li><a class="source" href="http://feeds.reuters.com/~r/reuters/businessNews/~3/mNhCXSNjkVs/idUSTRE5A41IR20091105">Reuters</a> - Wall Street bonuses seen up 40 percent in '09: report</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/bonuses/19196/</guid>
	<dc:creator>FierceFinance</dc:creator>
	<pubDate>Thu, 05 Nov 2009 10:39:54 PST</pubDate>
</item>
<item>
	<title><![CDATA[Insider Trading Probe Ensnares 14 More]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/insider-trading-probe-ensnares-14/19193/</link>
	<description><![CDATA[
	By Matthew Goldstein and Jonathan Stempel NEW YORK (Reuters) - Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers. In complaints that...
				<ul>
					<li><a class="source" href="http://www.forbes.com/2009/11/05/galleon-insider-trading-ropes-gray-personal-finance-lawyers.html?feed=rss_news">Forbes</a> - FedsNew Insider Trading Target: Lawyers</li>
					<li><a class="source" href="http://www.fiercefinance.com/story/galleon-scandal-expands/2009-11-05?utm_medium=rss&amp;utm_source=rss&amp;cmp-id=OTC-RSS-FF0">FierceFinance</a> - Galleon scandal expands</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/insider-trading-probe-ensnares-14/19193/</guid>
	<dc:creator>Reuters</dc:creator>
	<pubDate>Thu, 05 Nov 2009 11:45:35 PST</pubDate>
</item>
<item>
	<title><![CDATA[Supreme Court Hears Oral Argument in Excessive Mutual Fund Fees Case]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/supreme-court-hears-oral-argument/19166/</link>
	<description><![CDATA[
	« Value Line Settles SEC Charges of Bogus Brokerage Commissions | Main The U.S. Supreme Court heard oral argument Monday in Jones v. Harris Associates, a case that could impact the amount of managerial fees that millions of mutual fund investors pay fund advisers.  The Court must decide what...
				<ul>
					<li><a class="source" href="http://feedproxy.google.com/~r/cs_financial_services/~3/X4rDxqeHrfY/supreme-court-seems-inclined-to-leave-mutual-fund-fees-alone-2009-11">Clusterstock</a> - Supreme Court Inclined To Let Mutual Funds Keep Gouging Clueless Investors</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/supreme-court-hears-oral-argument/19166/</guid>
	<dc:creator>Securities Law Prof Blog</dc:creator>
	<pubDate>Thu, 05 Nov 2009 09:33:52 PST</pubDate>
</item>
<item>
	<title><![CDATA[FBI makes more arrests in Galleon case]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/fbi-arrests-galleon/19163/</link>
	<description><![CDATA[
	The investigation into the alleged insider trading scheme involving billionaire Raj Rajaratnam escalated on Thursday with federal prosecutors filing criminal charges against 14 individuals, including attorneys and Wall Street professionals. A press conference is expected to be held later on...
				<ul>
					<li><a class="source" href="http://feeds.nytimes.com/click.phdo?i=ab35f0e9b3dae43f316077fbe9bea025">New York Times</a> - More Individuals to Be Charged With Insider Trading</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/fbi-arrests-galleon/19163/</guid>
	<dc:creator>Financial Times</dc:creator>
	<pubDate>Thu, 05 Nov 2009 06:54:33 PST</pubDate>
</item>
<item>
	<title><![CDATA[House Financial Services Committee Passes Investor Protection Legislation]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/house-financial-services-committee-passes/19152/</link>
	<description><![CDATA[
	« Merge Healthcare and Two Former Officers Settle SEC Accounting Fraud Charges | Main The House Financial Services Committee voted (41-28) on Nov. 4 to recommend the Investor Protection Act of 2009(Download H.R.3817) that has a variety of measures intended to improve  investor protection and...
				<ul>
					<li><a class="source" href="http://feedproxy.google.com/~r/InvestmentAdvisor/~3/T_x9aSWwC2g/As-Deadline-Looms-for-Investor-Protection-Act-Advisor-Groups-Urge-Congress-to-Include-a-Real-Fiduciary-Standard.aspx">Investment Advisor</a> - As Deadline Looms for Investor Protection Act, Advisor Groups Urge Congress to Include a Real Fiduciary Standard</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/house-financial-services-committee-passes/19152/</guid>
	<dc:creator>Securities Law Prof Blog</dc:creator>
	<pubDate>Thu, 05 Nov 2009 08:51:08 PST</pubDate>
</item>
<item>
	<title><![CDATA[New arrests in Galleon insider-trading case: sources]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/arrests-galleon-insider-trading-sources/19129/</link>
	<description><![CDATA[
	Reuters BOSTON - Eight more people have been arrested in connection with the Galleon insider-trading scandal, sources familiar with the matter said. Federal and state authorities plan to announce charges against 14 new defendants, including the eight arrested, the sources said. The authorities...
				<ul>
					<li><a class="source" href="http://feeds.reuters.com/~r/reuters/businessNews/~3/SHLenjCeSP0/idUSTRE5A42XF20091105">Reuters</a> - More arrests in Galleon insider-trading case: sources</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/arrests-galleon-insider-trading-sources/19129/</guid>
	<dc:creator>Business Spectator</dc:creator>
	<pubDate>Thu, 05 Nov 2009 07:25:00 PST</pubDate>
</item>
<item>
	<title><![CDATA[Myer first quarter beats out rival]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/myer-quarter-beats-rival/19067/</link>
	<description><![CDATA[
	TWO of Australia's biggest department store retailers--David Jones and newly listed Myer Holdings--said today they're seeing sales momentum going into the key Christmas period, and expressed cautious optimism about holiday trade. Melbourne-based Myer, which made its stock market debut on Monday...
				<ul>
					<li><a class="source" href="http://www.finance.news.com.au/story/0,10166,26308034-5017676,00.html?from=public_rss">news.com.au</a> - David Jones sales up in first quarter</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/myer-quarter-beats-rival/19067/</guid>
	<dc:creator>The Australian</dc:creator>
	<pubDate>Wed, 04 Nov 2009 20:34:39 PST</pubDate>
</item>
<item>
	<title><![CDATA[Myer and David Jones release sales results, shares flat: Economy Roundup]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/myer-david-jones-release-sales/19057/</link>
	<description><![CDATA[
	Myer announced total sales growth of 5.2% to $717.1 million for the three months to October, while like-for-like sales grew by 2.9%. The results come after the company recently finished a $2.2 billion float on the ASX. The company also announced it is on track to meet prospectus pro forma...
				<ul>
					<li><a class="source" href="http://theaustralian.news.com.au/business/story/0,,26308077-5017996,00.html?from=public_rss">The Australian</a> - Leighton revenue up 10pc, outlook firm</li>
					<li><a class="source" href="http://feeds.smartcompany.com.au/~r/smartcompanynews/~3/H0zD6mIkMV8/index.php">SmartCompany</a> - Retail sales down, building approvals up: Economy Roundup</li>
					<li><a class="source" href="http://theaustralian.news.com.au/business/story/0,,26301349-5017996,00.html?from=public_rss">The Australian</a> - Myer holders eye data as shares rise</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/myer-david-jones-release-sales/19057/</guid>
	<dc:creator>SmartCompany</dc:creator>
	<pubDate>Wed, 04 Nov 2009 16:16:26 PST</pubDate>
</item>
<item>
	<title><![CDATA[iiNet defends free content offer in Federal Court copyright case]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/iinet-defends-free-content-offer/19247/</link>
	<description><![CDATA[
	The defense came on the thirteenth day of the case between the company and the Australian Federation Against Copyright Theft, which if successful has significant ramifications for the way in which ISPs deal with digital pirates. iiNet's Freezone contains a number of sites and servers made...
				<ul>
					<li><a class="source" href="http://feeds.smartcompany.com.au/~r/smartcompanynews/~3/QHtXHLrOEQE/index.php">SmartCompany</a> - iiNet denies it has the ability to block The Pirate Bay site</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/iinet-defends-free-content-offer/19247/</guid>
	<dc:creator>SmartCompany</dc:creator>
	<pubDate>Wed, 04 Nov 2009 13:56:04 PST</pubDate>
</item>
<item>
	<title><![CDATA[China's mineral tariffs challenged]]></title>
	<link>http://industry.bnet.com/financial-services/news-analysis/chinas-mineral-tariffs-challenged/19022/</link>
	<description><![CDATA[
	THE US and European Union filed a formal complaint at the World Trade Organisation over China's steep export tariffs on strategic raw materials, further building pressure on Beijing's trade policy
				<ul>
					<li><a class="source" href="http://online.wsj.com/article/SB125735513658728453.html?mod=rss_economy">The Wall Street Journal</a> - U.S., EU File China Trade Complaint</li>
				</ul><!-- /stories -->
		]]></description>
	<guid>http://industry.bnet.com/financial-services/news-analysis/chinas-mineral-tariffs-challenged/19022/</guid>
	<dc:creator>The Australian</dc:creator>
	<pubDate>Wed, 04 Nov 2009 14:55:00 PST</pubDate>
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