Finance news

In its second round of venture funding, APT Pharmaceuticals Inc. raised $32 million.
The Burlingame company seeks inhaled drugs for lung diseases.
Three Arch Partners led this round and put Bill Harrington, M.D., on APT’s board of directors. InterWest Partners and Pinnacle Ventures — both new investors — also gave money and put Nina Kjellson and David […]

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U.K. mortgage approvals slid in August to the lowest since at least 1999 as the global credit squeeze prompted banks and building societies to curtail credit.
Lenders approved 32,000 loans for house purchase, down from 33,000 in July, the lowest since comparable data began nine years ago, the Bank of England said. The value […]

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German business confidence probably declined to the lowest level in more than three years in September as the worsening financial crisis in the U.S. damped the outlook for global economic growth, a survey of economists shows.
The Ifo institute's business climate index declined to 94.3 from 94.8 in August, according to the median of […]

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General Growth Properties Inc., owner of Harborplace and the Gallery in downtown Baltimore, said Monday it is considering a range of options — including selling off some of its holdings — to boost the value of its stock price and refinance its debt.
General Growth (NYSE: GGP) also said it is developing “a comprehensive, strategic plan […]

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Sweden's budget surplus will narrow next year as the government steps up spending and cuts taxes to cushion the economic slowdown.
The surplus will shrink to 1.1 percent of gross domestic product in 2009 and 1.6 percent in 2010 from an estimated 2.8 percent this year, according to an advance copy of the government […]

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The biggest bet on the Las Vegas Strip has not paid off yet.
Private equity firms Apollo Global Management and TPG Capital LP TPG.UL bought Harrah’s Entertainment, which operates nearly 40 casinos across the United States, for $31 billion in January.
It was the peak of a leveraged buyout bubble that moved companies like […]

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Glen Terry is quitting as president and CEO of Tri-Valley Bank in San Ramon.
“I regret the brevity of my tenure,” Terry said in a statement from the bank — he took the top job there in May, following interim CEO John Rockwell, who took over when Bill Nethercott left for SF Commerce Bank in San […]

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The monthly premium for the elderly and disabled participating in Medicare will hold steady at $96.40 next year. It’s the first time since 2000 that the charge for health coverage is not increasing.
Premiums usually go up to reflect higher costs and demand for care that are projected in the coming year. Such increases will […]

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Morgan Stanley is considering a merger with Wachovia Corp., according to The New York Times and The Wall Street Journal. The newspapers cite individuals briefed on the matter.
Wachovia is Central Florida’s third-largest bank, with $4.8 billion in deposits, 63 branches and market share of 15.51 percent.
According to the Times, Morgan Stanley Chief Executive John Mack […]

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Australia's central bank pumped extra liquidity into the banking system and Prime Minister Kevin Rudd said the nation's regulations are strong enough to give customers “certainty'' after lenders' shares plunged.
Rudd said Australia is aiming to ensure “the liquidity of the financial system,'' just as the U.S. government's takeover of American International Group Inc. […]

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