17
votes
submitted by grandie4 5 months ago, from google.com
China sought Sunday to deflate rising pressure from the U.S. and other powers over Chinese economic policies and growing assertiveness in world affairs, with its prime minister promising cooperation to bolster the global recovery. Premier Wen Jiabao took on critics in the West who say Chinese... More
17
votes
submitted by agabriel 5 months ago, from reuters.com
The measure, approved by a vote of 62 to 36, now heads to the House of Representatives, where many Democrats have pushed for more aggressive job-creation measures in the face of the worst U.S. economic downturn since the 1930s. Democrats say job creation is their top priority this year as they... More
17
votes
submitted by trippie48 6 months ago, from google.com
Henry Paulson, the former Treasury chief, and billionaire Warren Buffett said taxpayers will recover every cent paid out to banks during the economic meltdown and may even turn a profit. The staunch Democrat investor and the Treasury secretary under President George W. Bush spoke onstage Tuesday... More
19
votes
submitted by chiasma 7 months ago, from nytimes.com
President Obama said Wednesday night that leaders in Washington face a “deficit of trust,” as he used his first State of the Union address to try to restore public confidence in his administration and to convince the American people that he is intensely focused on the issues that concern them... More
14
votes
submitted by grandie4 14 months ago, from nytimes.com
Signaling that California is slipping deeper into financial crisis, the state’s controller said Wednesday that his office would soon be forced to issue i.o.u.’s to scores of the state’s creditors, as lawmakers failed at their first attempt as a body to close the state’s multibillion-dollar shortfall More
19
votes
submitted by rodeox 14 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
20
votes
submitted by agabriel 14 months ago, from news.bbc.co.uk
The US government has announced a major reform of banking regulation to prevent future financial crises. The overhaul will require big banks to put more money aside against future losses to curb excessive risk taking. More
18
votes
submitted by riverdrops 15 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
17
votes
submitted by riverdrops 15 months ago, from washingtonpost.com
The rush of capital into the banking industry over the past month is allowing firms to postpone the painful process of selling devalued mortgages and other troubled assets, a step many financial experts still consider necessary to fully revive lending. More
18
votes
submitted by grandie4 15 months ago, from latimes.com
President Obama's push for healthcare reforms gets a boost today from a new study by Harvard University researchers that shows a sizable increase over six years in bankruptcies caused in part by ever-higher medical expenses. The study found that medical bills, plus related problems such as lost... More
13
votes
submitted by eooties 15 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
submitted by agabriel 15 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
16
votes
submitted by bafficio 15 months ago, from nytimes.com
President Obama has lately begun pointing to optimistic signs for the economy, but the continuing crisis still bedevils his budget projections and his domestic agenda. The administration, in final budget and tax details released Monday, disclosed a double wallop of bad news from government... More
16
votes
submitted by grandie4 16 months ago, from online.wsj.com
The Federal Reserve significantly scaled back the size of the capital hole facing some of the nation's biggest banks shortly before concluding its stress tests, following two weeks of intense bargaining. In addition, according to bank and government officials, the Fed used a different measurement... More
20
votes
submitted by agabriel 16 months ago, from latimes.com
The nation's biggest banks are regaining their health, but some need to replenish their coffers to withstand any new difficulties, the government said in an upbeat report Thursday. The Federal Reserve's highly anticipated "stress tests" found that 10 of the 19 largest banks needed to bolster their.. More
