In keeping with the spirit of the title of this thread, here is more good news for Jay............
Three Chinese institutions were among the world's top four banks at the end of 2007 at a time when the market capitalisation of Western banks was suffering from a global financial crisis, a study showed Wednesday.
The number one spot in the rankings, compiled by the Boston Consulting Group, was occupied by the Industrial and Commercial Bank of China, with market capitalisation of nearly 340 billion dollars (218 billion euros).
In second place was China Construction Bank, followed by HSBC of Britain, Bank of China, Bank of America and Citigroup of the United States.
The study found that banks in North America and Western Europe had suffered a loss of 695 billion dollars in market capitalisation at the end of 2007 while their counterparts in emerging market countries Brazil, Russia, China and India had seen their market capitalisation increase by 753 billion dollars.
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Three Chinese banks in world's top four: study
Citigroup Increases Stock Offering to $4.5 Billion
April 30 (Bloomberg) -- Citigroup Inc., under pressure to bolster capital depleted by mounting losses, sold $4.5 billion of stock, 50 percent more than it planned.
Citigroup fell 4 percent in New York trading after the biggest U.S. bank said in a statement that it priced 178.1 million shares at $25.27 each, a discount to yesterday's closing price of $26.32. The sale represents about 3 percent of the bank's shares outstanding as of March 31.
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Bloomberg.com: Worldwide EU bails out German bank for $7.8 billion: Financial News - Yahoo! Finance GM loses $3.3 billion in 1st quarter, lowers sales outlook