BBC NEWS: Investment banks 'to lose $30bn' (22bn euro)
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Investment banks 'to lose 22bn euro
World investment banks are set to reveal they have lost about $30bn (22bn euro) from bad debts linked to the global credit crunch, a report says.Analysts are predicting the firms - many of which report quarterly results this week - will have to write-off 10% of the $300bn loans they have agreed. In some cases profits will be almost wiped out, the Sunday Times said.
Labels: Economic Crises, US Economy
