Business news for Tue, 25 Dec 2007 & with word banks. 11 news.

GOLDMAN Sachs Group Inc Chief Executive Officer Lloyd Blankfein claimed a US$67.9-million bonus, the biggest ever awarded to the CEO of a Wall Street firm, after delivering a record profit amid the subprime market collapse. Blankfein, 53, received US$26.8 million in cash and US$41.1 million in restricted stock and options, the New York-based firm said in a December 21 regulatory filing, Bloomberg News reported. His payout rose 26 percent from 2006 while mortgage-related losses drove Morgan Stanley CEO John Mack and Bear Stearns Cos chief James "Jimmy" Cayne to forgo year-end awards. Goldman, the largest US securities firm, shattered Wall Street earnings records for the fourth-consecutive year even as banks and brokerages including Citigroup Inc and Merrill Lynch & Co were forced to take at least US$96 billion worth of writedowns. Blankfein's bonus amounts to about two days' profit at his company during the 12 months to November 30. "This year has really

BLUE chips led the market in Shanghai to end slightly lower yesterday and ended the longest winning streak in two months, although more than two thirds of stocks advanced. As the market was still under overvaluation pressure, cautious investors chose to cash out their gains from previous sessions, analysts said. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard currency B chips, shed 33.08 points, or 0.63 percent, to close at 5,201.18. The key index had risen for four consecutive sessions as of Monday. The A share index lost 0.64 percent against a 0.07 percent gain for the B share gauge. "Gains by the blue chips in previous sessions have cast a big pressure on the overall market, which still has high valuation concerns," said Wan Bing, an analyst with Guangfa Securities. Real estate, banks and security brokers were among the worst performing sectors yesterday. Shanghai Industrial Development Co dropped 3.93 percent to 40.33 yuan. Poly

Pr. George's Hotel Expects Thousands At Hiring Event With an 18-story atrium towering over the banks of the Potomac, Gaylord National Resort and Convention Center is reshaping the skyline of Prince George's County.

The number of mortgages approved in November by the country's High Street banks was down almost 44% on the same month last year, according to official data

FALLING blue chips in banking and real estate sectors sent Shanghai index lower today, ending a four-day rise. China Pacific Insurance (Group) Co surged on the first day of trading in Shanghai. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, fell 0.63 percent, or 33.08 points, to 5,201.18 at 3pm today. Winners in the Shanghai market outnumbered losers 238 to 225 and 83 were unchanged. But the Shenzhen Composite Index, which covers the smaller mainland stock market, gained 0.73 percent, or 10.23 points, to 1,409.81. Banks and real estate developers performed weak today. China Vanke, the nation's biggest listed property developer declined 2.93 percent, or 0.84 yuan (11 US cents), to 27.82 yuan. Gemdale Corp., a Chinese developer allied with ING Groep NV, dropped 4.08 percent, or 1.64 yuan, to 38.58 yuan. Industrial & Commercial Bank of China Ltd, the nation's biggest listed lender, fell 0.86 percent, or 0.07 yuan, to 8.08

SHANGHAI stocks fluctuated and fell slightly in the morning session today as blue chips in banking and property sectors dipped. China Pacific Insurance (Group) Co surged on the first day of trading in Shanghai. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, fell 0.23 percent, or 12.02 points, to 5,222.24 at 11:30am today. Winners in the Shanghai market outnumbered losers 499 to 254 and 93 were unchanged. But the Shenzhen Composite Index, which covers the smaller mainland stock market, gained 0.71 percent, or 9.98 points, to 1,409.56. Banks and real estate developers performed weak this morning. China Vanke, the nation's biggest listed property developer declined 2.83 percent, or 0.81 yuan (11 US cents), to 27.85 yuan. Industrial & Commercial Bank of China Ltd, the nation's biggest listed lender, fell 0.61 percent, or 0.05 yuan, to 8.10 yuan. Construction Bank of China lost 2.01 percent, or 0.20 yuan, to close the session

Japanese stocks rose Tuesday, with the benchmark Nikkei lifted by gains in banking shares such as Mitsubishi UFJ Financial Group, while shares of NTT DoCoMo Inc. jumped on reports the firm will announce a major tie up with Google Inc. Markets in Taiwan and Shanghai were mixed in a narrow range of trading.

Bank of Commerce Holdings, the parent of banks in Roseville, Yuba City and Redding, recently announced a stock buyback plan.

Outside investors inject cash into Merrill, and holiday sales hopes rise. The Dow gains 98. Stocks rose sharply Monday, boosted by news that another Wall Street firm was getting a multibillion-dollar capital injection and hopes of a stronger-than-expected holiday season for retailers. The Dow Jones industrial average rose nearly 100 points.

With an 18-story atrium towering over the banks of the Potomac, Gaylord National Resort and Convention Center is reshaping the skyline of Prince George's County.

An agreement has been reached on the sale of Cheyne Finance, a structured investment vehicle now known as S.I.V. Portfolio, to bidders including Goldman Sachs, the fund’s receivers, Deloitte & Touche said. The $7 billion S.I.V. Portfolio, managed by the hedge fund Cheyne Capital Management, went into receivership in September. The agreement comes after talks with a number of bidders over the last few weeks and consultation with the informal creditors’ committees, Deloitte said. Under the deal, certain reinvestment opportunities will be offered to some existing creditors of the company. S.I.V.’s, held by banks, hedge funds or other institutions, issue a mixture of short-term debt and capital and buy longer-term assets, which may pay more interest than the amount they pay on their notes. The vehicles encountered trouble in August when liquidity in the credit markets dried up as investors faced exposure to the subprime market.