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| | | | | | AFP - The International Monetary Fund on Friday agreed to release around 213 million dollars to Sri Lanka designed to top up the island's dwindling foreign reserves.
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| | | | | | AP - Two men have been charged with killing an Ohio real estate agent who was showing a vacant house for sale, the first of two agents killed in a week in the region, authorities said Friday.
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| | | | | | Reuters - Billionaire investor Len Blavatnik and his company Access Industries on Friday hit back at claims he knew the $12 billion 2007 leveraged buyout that created petrochemicals maker LyondellBasell would fail. | | | | | |
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| | | | | | AP - U.S. House Republican leader John Boehner is criticizing Democratic leaders in Congress for postponing a vote on extending Bush-era tax cuts until after the Nov. 2 election.
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| | | | | | Reuters - China's Sinochem Corp is in early talks with banks to finance its likely bid for all or part of Potash Corp of Canada , a newspaper reported on Saturday, in a sign that China is serious about derailing BHP Billiton Ltd's $39 billion hostile bid. | | | | | |
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| | | | | | Reuters - Stock investors will head into next week wondering if September will end as strongly as it began for the market, with manufacturing and personal income data among the top indicators on tap. | | | | | |
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| | | | | | Reuters - Two of the media industry's highest profile executives said on Friday they would leave NBC Universal and CNN, victims of a ratings war and chaotic shifts in the business. | | | | | |
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| | | | | | Investor's Business Daily - Orders for long-lasting goods improved in August while new-home sales were flat, according to separate reports Friday, the latest batch of mixed data suggesting that the economy has stabilized after a summer swoon. | | | | | |
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| | | | | | AP - California's attorney general wants GMAC Mortgage LLC to stop foreclosures in the state until it proves it is complying with a state law aimed at preventing foreclosures. | | | | | |
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| | | | | | Reuters - U.S. regulators seized three corporate credit unions on Friday and will repackage about $50 billion in troubled assets from these and previous seizures to sell on the open market. | | | | | |
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| | | | | | Reuters - Federal Reserve Chairman Ben Bernanke said on Friday it was unclear whether the U.S. economy would be relegated to the type of slow recovery that typically follows a financial crisis.
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| | | | | | AP - Federal regulators took over three key lenders to U.S. credit unions, after losses on mortgage investments threatened to topple them. The move was a reminder that parts of the financial system are still burdened by the toxic assets two years after the financial crisis peaked. | | | | | |
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| | | | | | Reuters - The United Auto Workers health care trust and the governments of Canada and Ontario may not participate in General Motors Co's upcoming IPO in order to avoid taking a cut on the price of their shares, three people with knowledge of the matter said on Friday.
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| | | | | | Reuters - Google, Apple, Adobe Systems, Intel, Intuit and Disney's Pixar reached a settlement with the Justice Department that bars the companies from agreeing to not poach each other's top employees, the department said on Friday. | | | | | |
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| | | | | | AP - Stocks reignite a rally as economic woes fade | | | | | |
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| | | | | | AFP - General Motors has recalled 20,000 Cadillac CTS vehicles in the United States due to increased risk of injury to short people who don't wear seatbelts, a spokesman said Friday.
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| | | | | | AP - Oil giant BP is working behind the scenes to formulate its own estimate for how much crude spewed from its well in the Gulf of Mexico, as it prepares for a potential legal fight with the U.S. government over fines. | | | | | |
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| | | | | | Reuters - The low U.S. inflation rate does not necessarily mean the economy is at high risk of a troubling downward price spiral, Richmond Federal Reserve Bank President Jeffrey Lacker said on Friday. | | | | | |
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| | | | | | AP - House Speaker Nancy Pelosi, under pressure to send Democrats home to campaign with the strongest possible closing argument, said Friday she is considering calling a vote on extending middle-class tax cuts next week.
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| | | | | | AFP - HSBC unveiled a huge boardroom shake-up on Friday as Europe's biggest bank looks to build on its recovery after the financial crisis as well as profiting from strong growth in Asia.
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| | | | | | Reuters - Congress is poised to extend next week increased loan limits on mortgages backed by Fannie Mae and Freddie Mac, which are set to expire at year end, Democratic aides said on Friday. | | | | | |
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| | | | | | Reuters - A commissioner at the U.S. Securities and Exchange Commission questioned on Friday the value of saddling high-frequency trading firms with tighter market-making rules, which has emerged as a key possible response to the May "flash crash." | | | | | |
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| | | | | | AP - The Internal Revenue Service is scaling back a new requirement that large corporations disclose on their tax returns whether they are taking tax breaks that might be unacceptable to the government. | | | | | |
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| | | | | | Reuters - New orders for a wide range of long-lasting U.S. manufactured goods rose in August and business spending plans rebounded strongly, the latest sign a sharp summer slowdown in the economy was abating.
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| | | | | | AP - Two men have been charged with killing an Ohio real estate agent who was showing a vacant house for sale, the first of two agents killed in a week in the region, authorities said Friday.
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| | | | | | AP - A look at economic developments and activity in major stock markets around the world Friday: | | | | | |
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| | | | | | Reuters - Citigroup Inc said on Friday its board of directors would raise Chief Executive Vikram Pandit's salary above the token $1 he has earned for the past two years.
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| | | | | | Reuters - U.S. regulators on Friday said they doubted financial companies would try to skirt new rules designed to crack down on risky pay practices, but lawmakers weren't so sure. | | | | | |
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| | | | | | The Motley Fool - Berkshire Hathaway (NYSE: BRK-A - News; NYSE: BRK-B - News) co-chairman and Warren Buffett's sidekick Charlie Munger gave a fantastic two-hour speech at the University of Michigan last week. Here are a few excerpts, lightly edited for clarity. | | | | | |
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| | | | | | AP - The chairman of the Vatican bank is questioning why Italian prosecutors seized euro23 million ($30 million) from a Vatican bank account for alleged violations of Italy's anti-money laundering laws. | | | | | |
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| | | | | | AP - Buoyant U.S. industrial figures helped shore up sentiment in the markets, sending stocks higher Friday while the impact of the Bank of Japan's latest apparent intervention to weaken the yen proved short-lived.
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| | | | | | AFP - London stocks were upbeat at the end of trade on Friday after sagging earlier in the session following a surprise gain in German business confidence, though fresh concerns were raised about the health of the US economy.
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| | | | | | Reuters - Delinquencies on U.S. home mortgages fell slightly in the three months through June, though the number of homeowners who lost their homes rose sharply from the first quarter, U.S. banking regulators said on Friday. | | | | | |
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| | | | | | AP - New homes sold at the second-slowest pace on record in August, signaling that the housing market will remain a drag on the economy.
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| | | | | | AP - European coastal nations agreed Friday to review rules for offshore drilling, but said each country should decide individually on how to improve safety oil rig safety to avoid disasters like the Gulf of Mexico spill. | | | | | |
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| | | | | | Reuters - New U.S. single-family home sales were flat in August, but the supply of houses on the market tumbled to the lowest level in 42 years, government data showed on Friday.
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| | | | | | AP - Spain unveiled an austere budget draft for 2011 as it fights to cut a bloated deficit that has rattled markets worried about the country's finances, slashing spending and throwing in a largely symbolic tax hike on the rich. | | | | | |
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| | | | | | Reuters - Treasury Secretary Timothy Geithner said on Friday that America's economy remained "very tough" and that key sectors such as construction were still struggling. | | | | | |
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| | | | | | AP - KB Home narrowed its fiscal third-quarter loss, helped by fewer charges and higher revenue. | | | | | |
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| | | | | | AP - Oil prices hovered above $75 a barrel Friday as an unexpected rise in German business confidence helped to shore up sentiment amid ongoing concerns about the pace of the U.S. economic recovery.
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| | | | | | BusinessWeek - Senate Republican leader Mitch McConnell has thrust small business to the center of the political fracas over extending the Bush era tax cuts. He says President Barack Obama's plan to limit future tax breaks to couples earning less than $250,000 would subject 50 percent of small business income to a tax increase, stalling the job creation engine. McConnell would renew all the cuts, even those for the highest-income U.S. households. The tax cuts expire on Dec. 31 unless Congress acts. | | | | | |
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| | | | | | BusinessWeek - Until it was banned in 1972, the pesticide DDT helped keep bedbugs in check. Increased international travel and other modern phenomena have contributed to a resurgence of the apple-seed-size insects, which feed on human blood. Outbreaks have hit several U.S. cities. In New York, stores including Niketown and Victoria's Secret have closed temporarily because of infestations. The pests are now attracting attention from scientists and entrepreneurs. On Sept. 21 and 22, the experts showed off their anti-insect weapons at the first-ever North American BedBug Summit in Chicago. | | | | | |
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| | | | | | AFP - Europe's main stock markets sagged on Friday as news of upbeat German business confidence was offset by lingering concerns about a global economic slowdown.
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| | | | | | AP - Switzerland's finance minister has sparked hilarity in the Alpine nation by collapsing into giggles while answering a parliamentary question about imports of cured meats. | | | | | |
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| | | | | | AFP - Countries bordering the north-east Atlantic rejected a ban proposal on deep-sea offshore drilling destined to avoid an environmental disaster comparable to the Gulf of Mexico oil spill, Norway said Friday.
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| | | | | | Reuters - LONDON (Reuters) Stock index futures signaled a slightly higher open for Wall Street on Friday, with shares set to rebound from Thursday's falls.
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| | | | | | Reuters - A dramatic upheaval among HSBC's (0005.HK) top management after a boardroom row has left the bank scrambling to limit damage to its reputation but unlikely to alter its increasing focus on Asia.
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| | | | | | AP - HSBC's chief executive has lost his bid to move up to chairman and will leave the bank by the end of the year, the Financial Times reported Friday. | | | | | |
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| | | | | | Reuters - President Barack Obama urged Chinese Premier Wen Jiabao on Thursday to take rapid steps to address a dispute over the value of China's currency and made clear the United States would protect its economic interests.
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| | | | | | Reuters - The dollar jumped against the yen on Friday on talk Japanese authorities intervened in markets for the second time in just over a week to weaken a currency they fear is undermining the economic recovery. | | | | | |
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| | | | | | Reuters - BHP Billiton cleared the first regulatory hurdle in its bid for Canada's Potash Corp but the miner still has a long way to go to pass the deal with Canadian authorities and the target's shareholders. | | | | | |
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| | | | | | Reuters - The yen dropped on Friday, driven by rumors Japan was intervening for the second time this month to weaken it, while Japanese equities cut their losses on strength in exporter stocks.
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| | | | | | AFP - Senate Democrats ruled out any vote on extending controversial tax cuts until after the November 2 legislative elections, drawing fire from Republicans who want to keep the cuts.
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| | | | | | AP - The exploration and production of Brazil's massive offshore oil reserves is the driving force behind the globe's biggest share offering ever, as the South American nation's state-run energy company raised $70 billion.
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| | | | | | Reuters - Brazilian state oil company Petrobras raised $70 billion on Thursday in the world's biggest share offering, giving the company the financial muscle it needs to tap vast offshore oil reserves. | | | | | |
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| | | | | | Reuters - The Senate will not vote on renewing Bush-era tax cuts before the November 2 elections, a spokesman for the Majority leader said on Thursday, as Democrats face internal divisions and potential Republican obstacles.
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| | | | | | AP - Oil is expected to resume flowing early next week through an underground pipeline that ruptured nearly two months ago and spilled at least 820,000 gallons of crude oil into a southern Michigan waterway, the pipeline owner said Thursday.
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| | | | | | AP - A bill that would require pipeline operators to report oil spills, gas leaks and other incidents within one hour doesn't provide enough time, energy industry officials said Thursday. | | | | | |
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| | | | | | Reuters - Nike Inc reported stronger than expected orders and quarterly profit as consumer demand remained resilient in its key markets, suggesting a solid holiday season and sendings its shares up 5 percent. | | | | | |
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| | | | | | Reuters - BHP Billiton has cleared the first regulatory hurdle in its bid for Canada's Potash Corp, but any potential deal still faces major regulatory obstacles, especially within Canada. | | | | | |
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| | | | | | AP - A Florida man was being sought Thursday in the fatal shooting of an Ohio real estate agent whose body was found in a vacant home he was trying to sell, and police looked for clues in the strangling of another agent and robbery of a third.
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| | | | | | Reuters - President Barack Obama urged Chinese Premier Wen Jiabao on Thursday to take rapid steps to address a dispute over the value of China's currency and made clear the United States would protect its economic interests.
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| | | | | | AP - Billionaire Warren Buffett says the economy remains in a recession, by his definition, because most people and businesses still aren't doing as well as they were before the financial crisis. | | | | | |
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| | | | | | Reuters - A senior Credit Suisse commodity executive and a team of traders have left the bank to set up a hedge fund backed by Blackstone Group, the latest shake-up resulting from tough financial reform. | | | | | |
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| | | | | | Reuters - Lawmakers voted on Thursday to repeal a provision in their landmark Wall Street reform bill that exempted securities regulators from complying with some requests for information from the public. | | | | | |
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| | | | | | AP - U.S. auto dealers have been seeing stronger new-vehicle sales in September after a tumultuous summer, J.D. Power and Associates said Thursday. | | | | | |
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| | | | | | AP - WEAK HOME SALES: This year's home sales are shaping up to be as dismal as last year, despite cheap home prices and mortgage rates that have fallen to the lowest levels in decades. | | | | | |
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| | | | | | AP - A growing number of Senate Democrats say they probably won't consider President Barack Obama's call to preserve middle class tax cuts until after voters choose their congressmen and senators on Nov. 2. | | | | | |
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| | | | | | AP - Growing demand and strong margins helped to drive Nike Inc.'s first-quarter net income up 9 percent, the company said Thursday. | | | | | |
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| | | | | | Reuters - The 50 some venues where U.S. stocks can now trade are due for a pruning, industry executives said on Thursday, citing both free market forces and new rules expected in the wake of the May "flash crash." | | | | | |
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| | | | | | AP - Louisiana Sen. Mary Landrieu said Thursday she will block a Senate vote to confirm the nominee to a key White House economic office to protest the six-month moratorium on deepwater oil and gas drilling in the Gulf. | | | | | |
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| | | | | | Reuters - Paul Volcker, special adviser to President Barack Obama, said on Thursday that while the Federal Reserve's purchases of long-term Treasuries are "understandable," the central bank must be careful not to set the stage for future inflation. | | | | | |
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| | | | | | AP - This year's home sales are shaping up to be as dismal as last year, despite cheap home prices and mortgage rates that have fallen to the lowest levels in decades.
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| | | | | | AP - GOLD HITS RECORD: Gold prices hit a record high Wednesday, settling at $1,292.10 after a rally that started late Tuesday. That's up 80 percent from October 2008, just after the financial crisis. | | | | | |
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| | | | | | Reuters - A $30 billion small business lending bill cleared Congress on Thursday, giving President Barack Obama's embattled Democrats a hard-won victory just weeks before the November elections. | | | | | |
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| | | | | | AP - CLAIMS RISE: Applications for unemployment benefits rose for the first time in five weeks, suggesting hiring is weak amid sluggish economic growth. First-time claims increased by 12,000 to 465,000, the government said Thursday. | | | | | |
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| | | | | | Reuters - Who says the U.S. recession is over? Not Treasury Secretary Timothy Geithner. And not legendary investor Warren Buffett.
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| | | | | | Reuters - Researchers weighed in on the controversial question of how much oil poured into the Gulf of Mexico during the BP Plc spill and said on Thursday the total amount was around 4.4 million barrels. | | | | | |
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| | | | | | AP - WEAK FORECAST: A gauge of future economic activity rose a modest 0.3 percent in August, which predicts that slow economic growth will continue this winter. | | | | | |
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| | | | | | AP - General Motors on Thursday altered the expected range that its Chevrolet Volt electric car can travel on battery power alone. | | | | | |
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| | | | | | AP - California regulators voted Thursday to form an independent panel to investigate the San Bruno gas line explosion that killed seven people and torched a San Francisco suburban neighborhood.
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| | | | | | AFP - The German luxury carmaker Audi will invest 900 million euros (1.2 billion dollars) in its Hungarian plant by 2013, Prime Minister Viktor Orban and Audi chief Rupert Stadler said on Thursday.
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| | | | | | AFP - Labor and religious leaders in Detroit announced plans Thursday to withdraw hundreds of millions of dollars from JPMorgan Chase to protest the bank's refusal to freeze foreclosures in Michigan.
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| | | | | | CQPolitics.com - Senate Democrats signalled Thursday that they are unlikely to schedule a vote on extending the expiring 2001 and 2003 tax cuts before Congress leaves for the campaign trail. | | | | | |
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| | | | | | AP - A look at economic developments and activity in major stock markets around the world Thursday: | | | | | |
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| | | | | | U.S. News & World Report - Retirement is one of the most important financial goals you will ever set. But it's hard to know how to start planning for something that might be 30 or more years away, especially when you have other pressing financial obligations, such as student loans, a new family, or saving for a home. | | | | | |
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| | | | | | U.S. News & World Report - "Once I had fame, oh I was full of pride, had lots of friends, always here right by my side, well my fame oh it died, now my friends all try to hide, everybody loves a winner ... but when you lose, you lose alone." -- William Bell, "Everybody Loves A Winner" | | | | | |
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| | | | | | AFP - London stocks were weaker at the end of trade on Thursday as poor economic data from the eurozone and a spike in US jobs figures hit investor sentiment.
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| | | | | | AP - Oil-producing countries on Thursday rejected a German proposal for a moratorium on deep-water drilling in the Northeast Atlantic that reflected environmental concerns after the BP Gulf of Mexico oil spill. | | | | | |
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| | | | | | Reuters - Democrats cannot decide whether to hold a vote on extending tax cuts, as some lawmakers fear the issue could hurt their re-election chances in November. | | | | | |
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| | | | | | Reuters - New claims for jobless benefits rose unexpectedly last week, but existing home sales in August rose from a 13-year low, suggesting the economy was stabilizing after a sharp summer slowdown.
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| | | | | | AP - Most people don't buy big, heavy, luxury sedans for their gasoline mileage. There are many other vehicles - lower-priced, too - that excel at fuel economy.
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| | | | | | AFP - US home sales rose in August for the first time in four months, an industry group said, as the moribund housing sector showed the slightest signs of life.
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| | | | | | Reuters - Billionaire investor Warren Buffett said the U.S. economy remains in recession, disputing this week's assessment by a leading arbiter of economic activity that the downturn ended more than a year ago.
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| | | | (AP) | | | September 23, 2010 at 10:21 PM | | | | AP - Obama: Israel should extend freeze on West Bank construction; peace talks must press on. | | | | | |
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| | | | | | AP - Rates on 30-year mortgages this week were unchanged from the previous week, staying slightly above the lowest level in decades. | | | | | |
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| | | | | | AFP - The number of Americans asking for unemployment payments rose more than expected last week the government said, ending a four-week decline and cementing doubts about the health of the job market.
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| | | | | | AP - The new council of top regulators charged with spotting early warning signs of a developing financial crisis will hold its first meeting on Oct. 1. | | | | | |
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