The financial world continues to grab headlines with two European groups bailed out over the weekend: Fortis, Belgium’s largest insurance company, was saved with an €11.2 billion package from The Netherlands, Belgium and Luxembourg, although the ripple effect of losses at Fortis are reaching the Hong Kong stock market, with shares in Ping An, China’s second largest insurance company with a stake in Fortis, falling by more than 9%. Bloomberg In the UK, lender Bradford & Bingley’s mortgage business has been nationalized and its savings business bought by Spanish Santander bank’s subsidiary Abbey. BBC

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