Japanese bank Sumitomo Mitsui Financial Group may invest about $926 million in Britain’s Barclays PLC, to help replenish Barclays depleted capital. Barclays, Britain’s No. 3 bank, has lost more than $5 billion in the mortgage and credit meltdowns. SMFG, Japan’s third-largest bank, is also reportedly considering a business alliance in Asia with Barclays. (Reuters)
The Bottom Line
June 20, 2008
Try 4 Risk-Free Issues of The Week magazine.
of The Week magazine.