| In Briefs
HCM CITY � Asia Commercial Bank signed a memorandum of understanding yesterday with US-based AIG General Insurance Viet Nam to distribute its insurance products. ACB customers will initially be offered travel and personal accident insurance, before more personal and corporate insurance products are added. AIG began operations in Viet Nam in 2006, offering products to both individual and corporate customers. ANZ launches deposit-free credit card service HA NOI � ANZ Bank today launches its Visa Credit Card in Viet Nam. Owners of the new card will receive interest-free credit for up to 45 days, with the ability to shop online and over the phone. Card applicants are not required to have an account with the bank and the card will be offered without the need for a deposit, ANZ general manager of personal banking, Philip Crouch, said.
Wachovia boosts online offerings for small biz
Wachovia Corp. is expanding its online product offerings to include electronic deposits and bad-check recovery. The Charlotte, N.C.-based bank -- Central Florida's third-largest financial institution -- says the service will provide small businesses with cash-management services comparable to those available to most large businesses. With online deposits, small business owners can scan paper checks from their desktops and electronically send the images to Wachovia for deposit. Wachovia says the Internet-based application eliminates the need for software installation. To qualify, customers must have been in business for at least one year and have a Wachovia deposit account. In addition, Wachovia (NYSE: WB) has hired Federal Automated Recovery Systems, a subsidiary of Infinity Business Group Inc., to manage the electronic re-presentment of checks that have been returned for insufficient funds.
Debix raises money from pair of high-profile business executives
Austin startup targeting identity theft to expand marketing, products and service providers. By Lori HawkinsAMERICAN-STATESMAN STAFF Tuesday, November 20, 2007 An Austin startup targeting identity theft said Monday it has raised financing from investors, including two high-profile business executives. Debix Inc., founded two years ago by Austin entrepreneur Bo Holland, received the money from investors including Gideon Yu, the former chief financial officer of YouTube Inc. and the current chief financial officer of Facebook Inc., and Launny Steffens, a former vice chairman of Merrill Lynch & Co. .
Stocks fall sharply as dollar sinks to fresh lows
Investors worldwide grow skittish over prospect of substantial economic slowdown in the United States. By Michael M. Grynbaum , Peter S. GoodmanTHE NEW YORK TIMES Thursday, November 08, 2007 Stock markets plummeted and the dollar sank to a record low against the euro Wednesday as investors worldwide grew skittish over rising oil prices and the prospect of a substantial economic slowdown in the United States. The Dow Jones industrial average fell 360 points and the broader stock market dropped nearly 3 percent, driven down by fear that the troubles in housing are likely to continue well into next year, contributing to further losses in credit markets and spreading pain to the rest of the economy. After a relatively strong summer, consumer spending is expected to tighten and business profits slow in the months ahead, analysts said.
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