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John Gutfreund, 1980s ‘King of Wall Street’, dies at 86

Bloomberg John Gutfreund, who was proclaimed the “King of Wall Street” in 1985 for harnessing the egos and fiefdoms of Salomon Brothers into one of the most profitable investment-banking firms, only to be deposed after a 1991 trading scandal, has died. He was 86. He died on Wednesday at New York Presbyterian/Weill Cornell Medical Center in New York after suffering ...

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China consumer inflation accelerates to 2.3 percent

Beijing / AFP China’s consumer inflation jumped to 2.3 percent in February, its highest in nearly two years, official data showed on Thursday, in a positive sign for demand in the world’s second-largest economy. Food prices surged during the annual Lunar New Year holiday, with vegetable prices jumping 30.6 percent year-on. The rise in the consumer price index (CPI) released ...

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India vows to recover US$1.34bn from Kingfisher chief

New Delhi / AFP India’s finance minister vowed on Thursday to recover more than $1 billion from heavily indebted Vijay Mallya, as a political row erupted over the flamboyant businessman’s surprise departure from the country. Arun Jaitley told parliament that Mallya’s grounded Kingfisher Airlines owed a group of mostly state-run banks some 90 billion rupees ($1.34 billion) in unpaid loans. ...

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