Europe News
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Barclays Plc, the U.K.’s second- largest bank by assets, will sell its entire $6.1 billion stake in BlackRock Inc. before the latest round of Basel rules stops it from counting the holding as capital.
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European stocks climbed, rebounding from last week’s biggest selloff since September, as China’s pledge to boost growth outweighed concern that Greece may be forced to leave the euro area.
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Greece may have to exit the 17-nation euro and the monetary union should plan for it to ensure stability, according to Pacific Investment Management Co.’s Mohamed El-Erian.
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JPMorgan Chase & Co. may face even bigger losses on faulty bets in credit markets if Europe’s debt crisis worsens, according to one of the hedge funds that took the other side of the trades.
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