Asian shares drop on concern over bank earnings

Bank stocks like Mitsubishi UFJ and Macquarie Group were among the biggest decliners following the bank downgrades, a profit warning from Deutsche Bank and comments from European central bankers that there was no end in sight to the global credit crunch.

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1. Britain's financial regulator to hire more supervisors data: 27.03.08
The Financial Services Authority issued a report that found its supervision of Northern Rock was inadequate.

2. American Airlines cancels 300 flights for inspections data: 27.03.08
Delta Air Lines began similar checks on 133 planes and said some cancellations were to be expected.

3. For bargain-basement America, foreign investment no panacea data: 07.04.08
Americans often have an ambivalent relationship with the global economy, which has been coming into focus amid a surge of European and Asian acquisitions of U.S. companies

4. Americans begin to face the pain of an overvalued house data: 27.03.08
Homeowners sometimes lose sight of the fact that their home is only a house to most buyers, especially when prices are falling.

5. EU moves toward allowing in-flight cellphone calls data: 07.04.08
The new regulations, to be released Monday, will remove a major obstacle for companies that want to sell the service.

6. Ford closes sale of Jaguar and Land Rover to Tata of India data: 27.03.08
Tata Motors said Wednesday it would buy the luxury brands Jaguar and Land Rover from Ford Motor for about $2.3 billion in cash, less than half the price that Ford paid for the two companies.

7. BP and ConocoPhillips to build gas pipeline to United States and Canada data: 10.04.08
BP and Conoco will initially spend $600 million in the next three years to drum up support for the Alaska project, which they said would be the largest-ever private-sector construction project in North America.

8. Accounting firm under fire in collapse of subprime lender data: 27.03.08
A sweeping investigation found that KPMG enabled New Century Financial's "improper and imprudent practices."

9. 'Green collars' becoming a force in U.S. economy data: 27.03.08
The United States may have 8.5 million jobs in renewable-energy or energy-efficient industries now, with up to 5 million to be added over the next 10 years.

10. Open skies, cheaper fares – at least for now data: 07.04.08
The first phase of the open-skies agreement has added 20 percent more seats across the Atlantic than were available last April, bringing down prices.



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