The Office

French banks hit as SocGen ditches assets - Yahoo! News

PARIS (Reuters) - Societe Generale said it would cut costs and sell assets to free up 4 billion euros in fresh capital on Monday, although the surprise move failed to stem a sell-off in French bank shares, driven by fears of a Greek debt default.

A rapid decline in French bank stock prices since the beginning of the summer has led to speculation that the French state may have to intervene and recapitalize its banks, in the same way as the British and other governments were forced to during the first wave of the financial crisis.

BNP Paribas led the falls, with its shares down 13.5 percent, while SocGen and Credit Agricole were both more than 9 percent lower at 1224 GMT. They are trading at levels not seen since at least early 2009, when recession stalked much of the developed world.

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U.S. has tax statistics from 10 Swiss banks: report - Yahoo! News

ZURICH (Reuters) - U.S. authorities now have statistical data from the ten Swiss banks being investigated by the United States for helping U.S. clients to dodge taxes, Swiss newspaper Neue Zuercher Zeitung reported on Saturday.

TagesAnzeiger, another Swiss newspaper, reported that the Swiss banks now had until Sept 23 to hand over more specific client data.

Credit Suisse , which is one of the banks under investigation, had already handed over data earlier in the week, while the nine other banks had handed over the data through an intermediary on Friday, NZZ said without citing any sources.

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Photos of victims inspire 'Texas Killing Fields' - Yahoo! News

VENICE, Italy (AP) — American Ami Canaan Mann says she was inspired to direct her second film after seeing photos of nearly 60 female murder victims pinned to a map indicating where they had died just outside the Houston area.

"Texas Killing Fields" was screened Friday at the Venice Film Festival.

Canaan Mann delivers an elegant crime thriller drawing on actual crimes haunting the fields near a small Texas town where the bodies of the victims — of all ages and from all social classes — were found over several decades.

Her father, director Michael Mann whose works include the 1992 film "The Last of the Mohicans," produced "Texas Killing Fields."

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New jobless claims rise, July trade gap narrows - Yahoo! News

WASHINGTON (Reuters) -The number of Americans filing new claims for jobless benefits rose unexpectedly last week, further evidence of a weak labor market just hours before President Barack Obama unveils a plan on job creation in a major address to Congress.

A separate report showed a considerably narrower trade deficit for July, a positive signal for growth in the third quarter after a sluggish first half of the year.

Applications for unemployment benefits rose to 414,000 in the week ending September 3 from an upwardly revised 412,000 the prior week, the Labor Department said on Thursday. Wall Street analysts had been looking for a dip to 405,000.

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Wall Street rebounds as concerns ease over Europe - Yahoo! News

NEW YORK (Reuters) - Stocks rose on Wednesday, reversing three days of losses on hopes the European debt crisis might ease after Germany's top court smoothed the way for Berlin's participation in bailout packages.

All three major stock indexes gained more than 1 percent in early trading, and all ten of the S&P sector indexes were higher.

European stocks bounced back from a two-year low after the court rejected lawsuits aimed at blocking the country's participation in aid to Greece and other nations.

But the court said the government must first get approval from a parliamentary committee, which could further slow a response. The FTSEurofirst 300 index of top European shares increased 2.8 percent.

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Al Pacino honored in Venice, presents new film - Yahoo! News

VENICE, Italy (Reuters) - Hollywood veteran Al Pacino is honoured by the Venice film festival on Sunday with a special prize and the presentation of his latest directorial project "Wilde Salome."

Even at such a star-studded festival, where the likes of George Clooney, Gwyneth Paltrow and Madonna have walked the red carpet this year, Pacino drew large crowds of screaming fans and autograph hunters to the Lido island.

He receives the Jaeger Lecoultre Glory to the Filmmaker Award at a gala awards ceremony.

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Comedy club announces Jerry Lewis Award, Web-athon - Yahoo! News

LOS ANGELES (AP) — Comedians who think Jerry Lewis was unceremoniously dumped from his post as chairman of the Muscular Dystrophy Association and face of its annual telethon are holding a Web-athon of their own.

Laugh Factory owner Jamie Masada said his club will hold a fundraiser on Monday featuring comedians such as Norm Crosby and Dave Chappelle. Fans can watch the performances online and make donations.

Proceeds of the event will be presented to those working toward a cure for muscular dystrophy as the Jerry Lewis Award. Masada said the event will be held annually on Labor Day until a cure is found.

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Lawyer: Rapper T.I. back in federal custody - Yahoo! News

ATLANTA (AP) — Grammy-winning rapper T.I., who was freed after months in prison, was back in federal custody Thursday because of a flap over his use of a luxury bus to report to a halfway house, his lawyer said.

Steve Sadow told The Associated Press that the Federal Bureau of Prisons "has moved T.I. to a different facility" because of an issue involving the rapper's 375-mile trip Wednesday from the Arkansas lockup to Atlanta in a gleaming motor coach.

He did not elaborate on the exact nature of the problem federal authorities had, but said it was not drug-related. He said they are trying to resolve the problem.

T.I., whose real name is Clifford Harris, traveled with an entourage to check into the halfway house, stepping off the bus clad in a red and blue striped polo shirt and white shirts.

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Oscar De La Hoya says recently hit "rock bottom" - Yahoo! News

LOS ANGELES (Reuters) - Former boxing champ and Olympic gold medalist Oscar De La Hoya says he is battling addictions to cocaine and alcohol and seeking to rebuild his relationship with his wife after being unfaithful.

De La Hoya, in his first interview since leaving a Malibu rehabilitation clinic, told the Spanish-language network Univision in a broadcast on Tuesday that his life was "a big mess."

"Rock bottom was recently, within a couple of years. Just, thinking, 'Is my life even worth it?,'" De La Hoya said.

The 38-year-old former boxer, who won a gold medal in the 1992 Olympic games in Barcelona, said he thought about committing suicide, but does not "have the courage" to take his own life.

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