Bank of England's Jenkinson Warns on Weaknesses Shown by Subprime Fallout

(Bloomberg) -- The U.S. subprime lending crisis has
shown weaknesses in risk controls which could affect the whole
financial system in the event of a bigger shock to deeper markets
such as corporate credit, a Bank of England official said.

``Recent distress in the U.S. subprime lending market'' has
``exposed weaknesses in risk management,'' Nigel Jenkinson, the
bank's executive director for financial stability, said today.
``In a more severe stress scenario, perhaps in a more significant
market such as corporate credit,'' the effect ``could have more
serious consequences for the financial system.''


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TREASURIES-Bond prices edge up ahead of inflation data

(Reuters) - "People yesterday were a bit concerned about the PCE
deflator that is coming out this morning," said Doug Roberts,
chief investment strategist at Channel Capital Research in
Shrewsbury, New Jersey.




"Now they are realizing the Fed probably wouldn't have
moderated their statement if they thought the PCE was going to
come in somewhat ... massively different from what they
anticipated. Although it might not come out on target, probably
it will come in pretty close."


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Talbots names Liz Claiborne president as CEO

(Reuters) - Liz Claiborne, which is in the process of restructuring, said it plans to eliminate the position of president and that it is almost finished searching for an executive vice president for its newly formed "partnered brands" division, which includes the Liz Claiborne, Dana Buchman and Ellen Tracy brands.




The company's namesake, designer Liz Claiborne, died in New York on Tuesday at the age of 78.


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U.K. Stocks Retreat, Paced by Segro, Liberty; Shares of Drax Group Slide

(Bloomberg) -- U.K. stocks declined, paced by Segro
Plc as HSBC Holdings Plc recommended investors reduce their
stakes in the property company. Liberty International Plc and
Hammerson Plc also fell. Standard Life Plc and Prudential Plc led
insurers lower.

Drax Group Plc declined after the utility said it sold
electricity at cheaper prices.


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Intertape Polymer shareholders reject plan to sell co

(Reuters) - The company also said Eric Baker was appointed Chairman, after shareholders elected Baker, Melbourne Yull and Dale McSween to its board at an annual shareholder meeting.






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Symetra Financial files for $750 mln IPO

(Reuters) - In addition to the affiliates of White Mountains Insurance
Group Ltd. and Berkshire Hathaway Inc., who led the investor
group that formed Symetra, others from the original investor
group may participate in this offering as selling stockholders.




The Bellevue, Washington-based company, which has applied
for a New York Stock Exchange listing under the symbol "SYA,"
told the U.S Securities and Exchange Commission in a
preliminary prospectus that Merrill Lynch & Co. and Goldman,
Sachs & Co., among others, were underwriting the IPO.



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US STOCKS-Futures fall with inflation data on tap

(Reuters) - In earnings news, Research In Motion Ltd. may give
a lift to the Nasdaq after the maker of the Blackberry reported
results that beat analysts' estimates. For details, see
[ID:nN28384123]




Research in Motion stock jumped 8.1 percent to $179 in
electronic trading.


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