Britain gives impetus to global tax on banks
November 7, 2009
ST ANDREWS, Scotland (Reuters) - World governments should consider urgently a levy on banks to fund future bailouts, British Prime Minister Gordon Brown said on Saturday, departing from London's longstanding resistance to a global tax.
November 7, 2009
ST ANDREWS, Scotland (Reuters) - World governments should consider urgently a levy on banks to fund future bailouts, British Prime Minister Gordon Brown said on Saturday, departing from London's longstanding resistance to a global tax.
Freddie Mac posts $5 billion loss
November 6, 2009
NEW YORK (Reuters) - Freddie Mac, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.
November 6, 2009
NEW YORK (Reuters) - Freddie Mac, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.
U.S. regulators close Gateway Bank, Prosperan Bank
November 6, 2009
WASHINGTON (Reuters) - Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.
November 6, 2009
WASHINGTON (Reuters) - Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.
Stocks eye retailers as jobless ranks swell
November 6, 2009
NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer.
November 6, 2009
NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer.
Berkshire Hathaway’s net income triples
November 6, 2009
NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.
November 6, 2009
NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.
U.S. closes Home Federal Savings in Detroit
November 6, 2009
WASHINGTON (Reuters) - Bank regulators closed Home Federal Savings Bank, of Detroit, on Friday, the 117th U.S. bank to fail this year as deteriorating loans continue to take their toll on financial institutions.
November 6, 2009
WASHINGTON (Reuters) - Bank regulators closed Home Federal Savings Bank, of Detroit, on Friday, the 117th U.S. bank to fail this year as deteriorating loans continue to take their toll on financial institutions.
Freddie Mac posts $5 billion loss
November 6, 2009
NEW YORK (Reuters) - Freddie Mac , the second largest provider of U.S. residential mortgage funding, said on Friday it lost $5 billion in the third quarter and predicted it would require further support from the Treasury amid a "prolonged deterioration" in housing.
November 6, 2009
NEW YORK (Reuters) - Freddie Mac , the second largest provider of U.S. residential mortgage funding, said on Friday it lost $5 billion in the third quarter and predicted it would require further support from the Treasury amid a "prolonged deterioration" in housing.
Sun Micro sales fall, Oracle deal delay stings
November 6, 2009
NEW YORK (Reuters) - Computer maker Sun Microsystems Inc suffered a 25 percent fall in quarterly revenue, as uncertainty over its delayed sale to Oracle Corp hurt its business.
November 6, 2009
NEW YORK (Reuters) - Computer maker Sun Microsystems Inc suffered a 25 percent fall in quarterly revenue, as uncertainty over its delayed sale to Oracle Corp hurt its business.
AIG posts second straight profit
November 6, 2009
NEW YORK (Reuters) - AIG, the giant insurer bailed out by the U.S. government, posted its second straight quarterly profit, helped by recovery in the value of its investments, but its underlying business remained weak and its shares fell.
November 6, 2009
NEW YORK (Reuters) - AIG, the giant insurer bailed out by the U.S. government, posted its second straight quarterly profit, helped by recovery in the value of its investments, but its underlying business remained weak and its shares fell.
U.S. jobless rate surges to 10.2 percent
November 6, 2009
WASHINGTON (Reuters) - The U.S. jobless rate unexpectedly jumped to 10.2 percent last month, a 26-1/2-year high, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.
November 6, 2009
WASHINGTON (Reuters) - The U.S. jobless rate unexpectedly jumped to 10.2 percent last month, a 26-1/2-year high, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.
Wall St. rises 3 percent for week on Friday’s slim gain
November 6, 2009
NEW YORK (Reuters) - U.S. stocks rose 3 percent for the week after ending Friday's session slightly higher, shrugging off government data showing the unemployment rate hit 10.2 percent -- the highest in 26-1/2 years.
November 6, 2009
NEW YORK (Reuters) - U.S. stocks rose 3 percent for the week after ending Friday's session slightly higher, shrugging off government data showing the unemployment rate hit 10.2 percent -- the highest in 26-1/2 years.
Opel chief leaves following failed deal
November 6, 2009
FRANKFURT (Reuters) - General Motors Co said on Friday the head of its European operations, Carl-Peter Forster, is leaving, three days after the automaker's decision to scrap a planned sale of its Opel unit.
November 6, 2009
FRANKFURT (Reuters) - General Motors Co said on Friday the head of its European operations, Carl-Peter Forster, is leaving, three days after the automaker's decision to scrap a planned sale of its Opel unit.
Harvard biz grads send neutral signal on stocks
November 6, 2009
NEW YORK (Reuters) - Harvard Business School is sending 28 percent of its 2009 graduating class onto careers in finance, a mildly bullish sign for the economy, said Ray Soifer, an independent bank consultant.
November 6, 2009
NEW YORK (Reuters) - Harvard Business School is sending 28 percent of its 2009 graduating class onto careers in finance, a mildly bullish sign for the economy, said Ray Soifer, an independent bank consultant.
SEC sees evolution in insider trading
November 6, 2009
NEW YORK (Reuters) - A top U.S. securities regulator said some funds may now view insider trading as a central tenet of their business models, rather than as a one-time opportunity for big rewards as sometimes happened in the 1980s.
November 6, 2009
NEW YORK (Reuters) - A top U.S. securities regulator said some funds may now view insider trading as a central tenet of their business models, rather than as a one-time opportunity for big rewards as sometimes happened in the 1980s.
Blackstone profit tops view; sees more deals ahead
November 6, 2009
NEW YORK (Reuters) - Private equity firm Blackstone Group LP posted a forecast-beating quarterly profit on Friday and said it is gearing up for more deals and IPOs as the lending and equity markets recover.
November 6, 2009
NEW YORK (Reuters) - Private equity firm Blackstone Group LP posted a forecast-beating quarterly profit on Friday and said it is gearing up for more deals and IPOs as the lending and equity markets recover.
IMF warns G20 of cutting economic support
November 6, 2009
ST ANDREWS, Scotland (Reuters) - The International Monetary Fund warned global financial leaders on Friday not to repeat the mistakes of the Great Depression and choke off emergency support for their economies too quickly.
November 6, 2009
ST ANDREWS, Scotland (Reuters) - The International Monetary Fund warned global financial leaders on Friday not to repeat the mistakes of the Great Depression and choke off emergency support for their economies too quickly.
BA hints worst over for business travel
November 6, 2009
LONDON (Reuters) - British Airways signaled business is stabilizing, eclipsing news of a worse than expected first half loss and a prediction that revenue would slump by 1 billion pounds ($1.7 billion) this year.
November 6, 2009
LONDON (Reuters) - British Airways signaled business is stabilizing, eclipsing news of a worse than expected first half loss and a prediction that revenue would slump by 1 billion pounds ($1.7 billion) this year.
RBS’s loss halves, more bad debts to come
November 6, 2009
LONDON (Reuters) - Royal Bank of Scotland more than halved its operating losses to 1.5 billion pounds ($2.5 billion) in the third quarter as impairments fell, but less favorable trading battered investment banking profits.
November 6, 2009
LONDON (Reuters) - Royal Bank of Scotland more than halved its operating losses to 1.5 billion pounds ($2.5 billion) in the third quarter as impairments fell, but less favorable trading battered investment banking profits.
Calpers knew in 2003 about forex trading hits
November 6, 2009
(Reuters) - California Public Employees' Retirement System, knew it was paying uncompetitive rates on foreign-exchange trades as early as 2003, the Wall Street Journal said, citing a consultant who advised the largest U.S. public pension fund.
November 6, 2009
(Reuters) - California Public Employees' Retirement System, knew it was paying uncompetitive rates on foreign-exchange trades as early as 2003, the Wall Street Journal said, citing a consultant who advised the largest U.S. public pension fund.