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All submissions from bloomberg.com sorted by current popularity
19
votes
Citigroup Said to Raise Salary for Employees by as Much as 50%
submitted by rodeox 31 months ago, from bloomberg.com
Citigroup Inc., the bank that got $45 billion in U.S. rescue funds, will raise base salaries by as much as 50 percent to help compensate for a reduction in annual bonuses, a person familiar with the plan said. More
18
votes
Tehran Protesters Rally Against Ahmadinejad Victory
submitted by trippie48 32 months ago, from bloomberg.com
Hundreds of thousands of people marched through Tehran to protest Iranian President Mahmoud Ahmadinejad’s re-election, as the nation’s supreme leader said opposition allegations of vote-rigging should be investigated. More
18
votes
U.S. Said to Plan Approving 10 Banks to Repay TARP
submitted by riverdrops 32 months ago, from bloomberg.com
The Treasury is preparing to announce tomorrow it will let 10 banks buy back government shares, people familiar with the matter said, signaling confidence some of the largest U.S. lenders won’t again need a taxpayer rescue. More
13
votes
Government Bonds Fall as Economic Stimulus Fails to Reduce Borrowing Costs
submitted by eooties 32 months ago, from bloomberg.com
European and Japanese government bonds fell, after Treasuries had their biggest rout in four months yesterday, on concern central bank efforts to revive the global economy by driving down borrowing costs are failing. More
21
votes
Bank of America Raises $13.5 Billion Selling Shares
submitted by agabriel 33 months ago, from bloomberg.com
Bank of America Corp., the biggest U.S. bank by assets, raised about $13.5 billion in a sale of common stock after U.S. regulators determined it needed more cash to weather an extended recession. Lewis, told by regulators he needs to raise $33.9 billion after stress tests, seized on a 40 percent... More
18
votes
Fed Is Said to Seek Capital for at Least Six Banks After Tests
submitted by agabriel 33 months ago, from bloomberg.com
At least six of the 19 largest U.S. banks require additional capital, according to preliminary results of government stress tests, people briefed on the matter said. While some of the lenders may need extra cash injections from the government, most of the capital is likely to come from converting... More
19
votes
Obama Said to Find Bankruptcy Likely for GM, Chrysler
submitted by bafficio 34 months ago, from bloomberg.com
President Barack Obama believes a quick, negotiated bankruptcy is the most likely way for General Motors Corp. to restructure and become a competitive automaker, people familiar with the matter said. Obama also is prepared to let Chrysler LLC go bankrupt and be sold off piecemeal if the... More
21
votes
Obama Plans to Boost U.S. Forces in Afghanistan, Set Benchmarks
submitted by eooties 34 months ago, from bloomberg.com
President Barack Obama plans to send 4,000 more U.S. troops to Afghanistan to train local forces and set benchmarks for progress in battling militants there and in Pakistan, administration officials said. The president’s new strategy for turning the corner in the eight-year-old war... More
23
votes
Geithner to Seek Power Over Large U.S. Hedge Funds, Derivatives
submitted by bafficio 34 months ago, from bloomberg.com
Treasury Secretary Timothy Geithner will ask Congress to bring large hedge funds, private- equity firms and derivatives markets under federal supervision for the first time as part of a revamp of U.S. financial rules. The Treasury chief will present his proposed framework at a House Financial... More
21
votes
Bernanke Says 'Biggest Risk' Is Shortage of 'Political Will'
submitted by grandie4 35 months ago, from bloomberg.com
Federal Reserve Chairman Ben S. Bernanke said the biggest risk to an economic recovery is a shortage of “political will,” using his first televised interview since taking office to stress the need to revive U.S. banking. “The biggest risk is that, you know, we don’t have the political will,”... More
16
votes
Obama Will Require Banks to Expand Lending as Condition for Aid
submitted by trippie48 36 months ago, from bloomberg.com
President Barack Obama will require banks to boost lending to consumers and companies in return for taxpayer aid from the $700 billion bailout fund, in a departure from Bush administration policy, a key lawmaker said. “You’re going to see the Obama administration,” learning lessons from the first.. More
13
votes
Biden, Summers Sound Warnings on Economy, Push Stimulus Plan
submitted by eooties 36 months ago, from bloomberg.com
White House officials sounded warnings on the U.S. economic outlook as they sought to ensure rapid Congressional approval of President Barack Obama’s $825 billion stimulus package. Vice President Joe Biden told the CBS’s “Face the Nation” program yesterday that “it’s worse, quite frankly, than... More
13
votes
U.S. ‘Black Friday’ Sales Rise 3%, ShopperTrak Says
submitted by agabriel 38 months ago, from bloomberg.com
U.S. consumers spent $10.6 billion on holiday purchases yesterday as shoppers anxious for bargains flocked to stores. Sales rose 3 percent from the same day last year, Chicago- based research firm ShopperTrak RCT Corp. said today in a statement. The increase was highest in the South, with a gain... More
17
votes
Geithner Is Said to Be Obama’s Pick for U.S. Treasury Secretary
submitted by eooties 39 months ago, from bloomberg.com
President-elect Barack Obama picked Timothy Geithner, head of the Federal Reserve Bank of New York, to be his Treasury secretary, with Lawrence Summers getting a senior White House role, a Democratic aide said. Summers, former President Bill Clinton’s last Treasury chief, would be positioned to... More
13
votes
AIG, U.S. May Expand Bailout to $150 Billion, Cut Interest Rate
submitted by agabriel 39 months ago, from bloomberg.com
American International Group Inc., the insurer bailed out by the U.S., may get an expanded government rescue package valued at more than $150 billion that includes lower interest rates and more time to repay the debt. The U.S. will cut the original $85 billion loan that saved.. More
