Prudential Financial to Close Research Unit
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About 420 people will be laid off, with most of the cuts coming in New York. International offices will also close.
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Citigroup Inc. said Monday it will close down its trust banking unit in Japan within a year, after Japanese authorities ordered the US financial services giant to suspend its private banking business.
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Mortgage giant Freddie Mac announced Monday that it is shutting down some operations of its debt-securities sales division and transferring others - moves that experts said should tighten the company's internal controls after an accounting scandal.
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Princeton is closing down its parapsychology unit but ESP researchers can continue their studies at a few reputable universities. In Bodyhack.
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As the First Albany Companies closes the sale of a controlling stake in itself, the investment bank is expected to rename itself and broaden its focus.
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The UK's investment watchdog shuts down a property investment firm that took Â£10m from 180 customers.
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Morgan Stanley  on Tuesday said it will spin off its Discover division, ending its foray into credit cards, as the parent company capped a record year with better-than-expected quarterly results.
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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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Ameriquest Mortgage Co, the largest  U.S. subprime lender as recently as 2005, is closing, the  latest home loan provider to shut down amid the nation&#39;s  housing market slump.
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The Blue Bell, Pa.-based company said it will close some of its facilities and reduce its employee head count.
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UBS , the biggest European  casualty of the U.S. subprime crisis, said it was shrinking its  investment banking business, cutting staff and drastically  scaling down its exposure to risky investments.
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Freddie Mac (FRE.N: Quote, Profile, Research) , the No. 2 US mortgage finance company, on Monday said it will shutter its broker-dealer business unit in a step
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A Treasury-backed plan to stabilize a vital segment of the credit markets has been shelved, the banks involved said yesterday.
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Citigroup Inc., the world&#39;s largest bank, was forced to close its private banking operations in Japan after the nation&#39;s financial regulator reported it had found &quot;serious&quot; breaches.
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By Eve Hightower, The Modesto Bee, Calif.  Dec. 19--RIVERBANK -- The public comment per-iod for the environmental impact report of Riverbank's general plan update has closed.
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Morgan Stanley said it will close its business in Britain that issues home loans and significantly curb its mortgage business in the United States.
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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 $945 million in charges and write-downs, because the business is no longer sustainable.