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Latest Business News: UKFI Hires UBS Banker to Run Down 'bad Bank' Loans

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Latest Business News: UKFI Hires UBS Banker to Run Down 'bad Bank' Loans

Latest Business News: UKFI Hires UBS Banker to Run Down 'bad Bank' Loans
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Latest Business News: UKFI Hires UBS Banker to Run Down 'bad Bank' Loans

Wochit 1:13 mins

The body charged with handling Britain's stakes in lenders has hired a senior banker from UBS to manage its holdings in the 'bad bank' books of Northern Rock and Bradford & Bingley. U.S. stock market futures pushed higher, extending gains from late last week as investors readied for the start of second-quarter earnings season. Data showed the U.S. added 195,000 new jobs last month and employment gains in the prior two months came in stronger than originally reported, which triggered sizable gains for Wall Street. Dow Jones Industrial Average futures rose 73 points, the S&P 500 futures rose 10 points,and Nasdaq-100 futures added 19 points. Japan's Olympus Corp said it will raise up to $1.17 billion in a new share issue to expand its medical equipment business and rebuild its financial health, after an accounting scandal plunged the company into the red. Olympus, which counts Sony Corp (6758.T) as its largest shareholder, is marketing its shares to foreigners. The shares will be offered to overseas investors, mainly in the United States and Europe.

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