TOKYO, Nov 6 (Reuters) - Sumitomo Trust and Banking (8403.T) and Chuo Mitsui Trust Holdings (8309.T) said they plan to merge, creating Japan's largest trust bank and gaining scale to better compete in a crowded asset management industry.
The two banks aim to complete the merger by April 2012, they said in a statement. (Reporting by David Dolan)
WASHINGTON (Reuters) - The Federal Reserve could begin pulling back its unprecedented stimulus for the U.S. economy by first removing some cash from the financial system and then raising interest rates, Fed Chairman Ben Bernanke said on Wednesday.
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