Barclays exits Indian BPO joint venture
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Barclays Bank is selling off its stake in Intelenet Global Services, a business process outsourcing (BPO) services provider that it owns jointly with India's Housing Development Finance Corp. (HDFC).
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Cazenove and JP Morgan have agreed a joint venture that effectively ends 181 years of independence for the UK stockbroker. The new venture, to be called JP Morgan Cazenove
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HSBC Holdings Plc , Europe's biggest bank, said on Friday that it would close its U.S. subprime mortgage unit, cutting 750 jobs and taking an $880 million writedown, because the business is no longer sustainable.
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Barclays Capital, the investment   banking arm of British lender Barclays Plc. BARC.L, is   counting on Asian revenue growth of at least 25 percent a year,   Chief Executive Bob Diamond said on Sunday, as the bank's   overseas businesses now make up about half of its total   profits.
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British bank Barclays sweetened its takeover bid for Dutch rival ABN Amro on Monday by including a cash element as part of a revised informal offer worth 67.5 billion euros (93.3 billion dollars).
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London equities fell on Tuesday after news of increased full-year writedowns at Barclays (NYSE:BCS) took the shine off banking stocks. There was further pressure in the sector after surprise news of fresh $2.85bn losses at Credit Suisse (NYSE:CS).
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Dexia said Sunday that it had decided to formally terminate its plans to form an alliance with the Italian bank Sanpaolo IMI. The board of the French-Belgian bank &quot;has noted unanimously that the conditions
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A consortium led by British insurer Prudential PLC has dropped its bid for a major South Korean state asset managing company, officials said.
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Barclays, the third-biggest British bank, has said that net profit surged by 33 percent to a record 4.571 billion pounds (6.782 billion euros, 8.906 billion dollars) in 2006, lifted by its investment banking arm.
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Barclays said it had struck a deal with the China Development Bank and Temasek Holdings of Singapore.
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Britain's Barclays Plc  said on  Friday a U.S. court had dismissed claims against the bank in a  class action suit relating to fallen energy giant Enron.
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Canadian Imperial Bank of Commerce sold its last retail banking operation in the United States yesterday, ending a brief, but tumultuous, foray south of the border.
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British bank Barclays said Tuesday that it plans to cut 630 call-centre jobs at Barclaycard, its struggling credit card division, and move some of the work to India.
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UBS, shaken by the mortgage crisis, said that it was walking away from a proposed takeover of Standard Chartered Bank of India.
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Europe's biggest bank HSBC Holdings  has ousted the head of its North American operations, Bobby Mehta, in the wake of this month's shock profit warning from its troubled U.S. mortgage business.
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BT Group has extended an existing human resources outsourcing deal with Accenture with a new 10-year contract valued at Â£306 million ($576 million), the companies announced Wednesday. The deal will begin in August and will cover BT's HR functions in 38 countries for all of its 97,000 employees and 180,000 BT pensioners. The previous five-year outsourcing contract only covered employees in the U.K. Accenture will provide services such as customer contact, recruitment, pension administration, payroll, and benefits administration. The business process outsourcing (BPO) contract with London-based BT also has a consulting, or what companies like IBM are increasingly calling "transformation," element to it. As part of its consulting role, Accenture will create a "transition program" with BT before the August roll-out of the contract.
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QRS, a provider of commerce technology to retail companies, has terminated a merger pact with JDA Software Group to accept a more lucrative $116 million offer from Inovis International.