Deutsche Bank USA failed 'stress test': US Fed Reserve, Photo AFP The Fed gave a "conditional" pass to Wall Street investment behemoths Goldman Sachs and Morgan Stanley, whose capital backstops sank below required levels due to one-time charges tied to December's tax cuts, officials said. But the Fed "objected to the capital plan of DB USA Corporation because of widespread and critical deficiencies across the firm's capital planning practices," according to the annual test results. Should DB hit hard times in an economic downturn or financial crisis, poor data capabilities and internal controls, bad forecasts for revenue and losses under stress, and substandard internal audits would leave the bank in danger, the Fed announced. The stinging rebuke for Deutsche Bank, Europe's second-largest lender, came as shareholders continue express serious doubts about the bank's health. The bank's shares on Wednesday hit a two-year low in Frankfurt. Deutsche Bank's US operations failed stress … [Read more...] about Deutsche Bank USA failed ‘stress test’: US Fed Reserve
Economic downturn usa
Hai Duong Shoes JSC exports over 400,000 pairs of shoes to US, EU
Despite difficulties due to the impact of the economic downturn, but with efforts to overcome hardships and find markets, Hai Duong Shoes JSC has maintained stability in production and business. In the first 4 months of the year, the company produced more than 400,000 pairs of export shoes, had a turnover of VND47 billion, accounting for 47% of the plan. The products were mainly exported to the USA and EU. The company has employed 1,000 workers with average income of VND4.5 million/ person/ month. VU UY … [Read more...] about Hai Duong Shoes JSC exports over 400,000 pairs of shoes to US, EU
No good sign yet
In the first three months of this year, the implementation of investment projects in the province had no many changes yet. Many projects did not implement or implemented slowly, rate of reimbursement of investment projects was low. Through inspections, inspecting the implementation of investment projects in the province of the authorities showed that some projects did not take land into use, some projects delayed in deployment. These cases were all projects allocated prior 2003. The provincial People's Committee recovered land area of the projects which did not put the land into use. The provincial inspectors also made a number of inspections for some projects including: Hai Thuan resort at Xuyen Moc district; Tay Son villa resort; Hong Quang resort; Long Hai resort at Long Dien district; Minh Dam resort; Thanh Binh resort project at Dat Do district. Thereby, it proposed to reclaim land of Thanh Binh resort project (as a result of undeployment for years, from 2001 to … [Read more...] about No good sign yet