Financial Service News Archives

NBC Universal's parent, General Electric Co., is expected to sell a controlling stake in the company to Comcast Corp.

Chelsea Clinton and then-childhood friend Marc Mezvinsky in South Carolina in 1996.

Nov. 30 -- Larry Hatheway, chief economist and global head of asset allocation at UBS Investment Bank, talks with Bloomberg's Francine Lacqua about the Dubai debt crisis and its impact on investor strategies.

Dan Pylas London - The Associated Press Published on Monday, Nov. 30, 2009 6:57AM EST C onsumer prices in the 16 countries that use the euro rose by 0.6 per cent in the year to November, the first annual increase since April, official figures showed Monday.

Bank of Ireland and Allied Irish Banks may receive a combined 28.2bn for the toxic property loans they are selling to the National Asset Management Agency .

Originally published November 29, 2009 at 3:42 p.m., updated November 29, 2009 at 11:05 p.m. PITTSBURGH a ' Making one's true love happy will cost a whopping $87,403 this year, a minuscule increase from last year, according to the latest cost analysis of the items in the carol "The Twelve Days of Christmas." That's the grand total for the single ...

Eds: APNewsNow. Moving on financial and sports services. AKRON, Ohio An Ohio bank is stepping up pressure on the financially strapped All-American Soap Box Derby to repay a loan.

Now the financiers are starting to headline newspapers in a new way a ' as the owners.

THE future of one of the biggest employers in north Suffolk is in doubt after the appointment of administrators.

THE head of the European Central Bank said here on Sunday that a revaluation of the yuan currency would be 'appropriate' after talks with China's Premier Wen Jiabao.

DOTHAN - This may have been the best Thanksgiving 11-year-old Aaron Royer ever had.

Nov. 27 -- Jonathan Finger, managing partner at Finger Interests Number One Ltd., talks with Bloomberg's Erik Schatzker about Bank of America Corp.'s search for a new chief executive officer to replace Kenneth Lewis, who is stepping down Dec.

MUMBAI: The Dubai debt crisis is unlikely to have any major impact on the country's banking sector as Indian banks have an insignificant exposure to the Gulf region, top bankers said.

Chief Financial Officer Joe. L. Price and mortgage unit President Barbara J. Desoer will earn less salary in 2009 than they did last year following approval by the officer of the special master for TARP Executive Compensation, Bank of America said in papers filing with the Securities and Exchange Commission.

Authorities in Florida were searching Saturday for a man police said opened fire on his family after Thanksgiving dinner and killed four people, including his pregnant sister and a 6-year-old cousin who was sleeping in her bed.

The United States, China and other commercial powers will spearhead a new attempt next week to find ways to revive world trade and pull the global economy out of recession.

Regulators have ordered an Atlanta bank to immediately raise capital levels or find a buyer or merger partner.

Nov. 27 -- David Bloom, global head of currency strategy at HSBC Treasury & Capital Markets, talks with Bloomberg's Judith Bogner about the impact of Dubai's debt woes on financial markets.

Onex Corp. said Wednesday it has sold part of its interest in Emergency Medical Services Corp.

Dubai's debt crisis rattled world financial markets Friday, raising concerns that some banks could further tighten lending and hamper the global economic recovery.

Canwest Global Communications struck back at Wall Street titan Goldman Sachs Wednesday, telling a court that a move to dissolve its joint specialty-TV venture prior to its creditor-protection filing was the only way to prevent a forced sale of the media company's most profitable assets.

FDIC: Nevada-based banks lost money in 3rd quarter LAS VEGAS - Federal regulators say banks with Nevada charters continued to struggle in the third quarter.

General Electric Co. may be closer to selling control of NBC Universal to Comcast Corp.

Nov. 26 -- John Purcell, managing director of executive search firm Purcell & Company, talks with Bloomberg's Mark Barton about changes to U.K. bank bonus rules proposed by David Walker in a government-commissioned report.

It's one Forbes list where none would want to figure, but Ramalinga Raju, the founder-chairman Satyam Computers , has managed the feat of being among the world's 10 most outrageous CEOs.

Tower Australia full-year profit declined by 32 per cent as the life insurer's investments were hit by volatile markets and a higher amortisations charge.

The estimated $3.5 billion remaining assets of the Reserve Primary Fund should be distributed on a prorated basis to shareholders, a federal judge ruled on Wednesday in response to lawsuits filed after the fund's value dropped below $1 a share in September 2008.

Bank of America is having such a hard time finding a new CEO that some analysts are wondering if Ken Lewis might have to stay past his planned Dec.

The two sued for breach of contract. Deutsche Bank said Bank of America failed to secure $1.25 billion in cash and mortgage loans on its behalf.

Nov. 25 -- Dennis Stattman, a fund manager for BlackRock Inc., talks with Bloomberg's Margaret Brennan about his investing strategy for emerging markets, particularly Asia.

Bank of Ireland does not foresee the need for further state bailouts according to the restructuring plan submitted to the European Union, though it said the state would remain a substantial owner.

The Federal Reserve on Wednesday tightened the conflict of interest restrictions governing the boards of directors of its 12 regional banks.

An "evil" US con man who portrayed himself as a "Hanoi Hilton" prisoner of war survivor to scam victims in New Zealand, Australia and the US out of almost US$4 million has been jailed.

The economy is growing modestly, with consumers too wary about spending to invigorate the recovery.

In this April 16, 2009 file photo, a sign at the Citigroup Center is shown in New York.

Nov. 24 -- Jason Tyler, senior vice president of portfolio management at Ariel Investments LLC, talks with Bloomberg's Peter Cook about Federal Deposit Insurance Corp.

Emergency loans to Royal Bank of Scotland and HBOS peaked at 61.6 billion at the height of the financial crisis, the Bank of England has said.

The government agency that backs bank deposits announced today that the recent flood of bank failures plunged the insurance fund into the red in late September and more banks are now on the brink of collapse than at any point in the last 16 years.

After more than a year of searching for an acquisition, People's United Financial has pulled the trigger on a deal.

Kinder Morgan Energy Partners LP said Monday that it expects to pay out an annual cash dividend of $4.40 per unit in 2010, up from $4.20 in 2009.

Major stock indexes soared more than 1 percent, including the Dow Jones industrials, which rose 133 points to a 13-month high.

The attorney general of Ohio filed a lawsuit against Standard & Poor's, Moody's Corp.

The newspaper said JPMorgan , Goldman Sachs and Morgan Stanley that received approval to buy back government stake worth $68 billion earlier this year are among the firms seeking operational efficiencies by outsourcing non-core IT and back-office projects to India Monday, November 23, 2009 MUMBAI, INDIA: Leading Indian outsourcers such as Tata ...

Student loan company Nelnet Inc. says it plans to hire more than 250 people to expand its Lincoln work force.

Canadaa s biggest banks are expected to report a relatively strong finish to the financial year when they start reporting fourth-quarter earnings Tuesday, but their capital markets divisions could leave investors jittery about the future.

A New York Times editorial slammed Goldman Sachs for its role in the financial crisis and said that instead of paying big bonuses to its employees it should make a multibillion-dollar gift to help reduce the U.S. national debt.

Just over two years ago, a Morgan Stanley investment fund acquired Fort Worth-based Crescent Real Estate Equities for $6.5 billion at what turned out to be the top of the market.

By Gerri Peev Westminster Editor HOUSE prices are predicted to fall next year as one of the country's biggest lenders warned of a rising unemployment prolonging the recession.

Bank of America Corp. won a court bid to appoint a receiver for Chicago's Block 37 shopping mall after the developer defaulted, taking control of one of the city's largest projects.

Bank of America Corp Chief Executive Kenneth Lewis has said he would consider postponing his retirement if directors need more time to find a successor or smooth the transition to the next CEO, the Wall Street Journal reported on Friday.

Things have been pretty dark for Dick Bove ever since her man, the " brilliant " Ken Lewis was essentially forced out of his job .

MOSCOW: Russia has the world's most fraudulent economy and attempts to stamp out white-collar crime have done little to stop its spread during the global financial downturn, PricewaterhouseCoopers said in a survey.

The owners of a Lexington ethanol plant and their insurer are suing a subsidiary of a Houston-based natural gas provider they say is responsible for an explosion and fire that shut down the plant for weeks.

Agrium Inc.'s reluctant U.S. takeover target, CF Industries Holdings Inc. , is making headway in a hostile bid of its own.

Media and entertainment conglomerate Vivendi SA is nearing a decision on whether to sell its stake in NBC Universal and clear the way for the creation of one of the most powerful media companies in the world.

Florida banking regulators have shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults.

The number of meals is 10 times as many as last year and come at a time when more and more Americans are struggling to put food on the table.

Nov. 20 -- Robert Doll, chief investment officer for global equities at BlackRock Inc., talks with Bloomberg's Pimm Fox about his investment strategy.

Major shareholders in Goldman Sachs are reported to have pressed the bank's board to lower the amount it will dole out in pay and bonuses in order to increase returns to investors.

Stocks are set to continue their slide when the market opens Friday as the dollar strengthens further, and after a week of mixed economic reports.

European stock markets rose Friday despite a drop in Asia as investors recouped some of the previous day's hefty losses ahead of a key speech from European Central Bank president Jean-Claude Trichet.

Timothy Geithner, U.S. treasury secretary, testifies at a joint Economic Committee hearing on financial regulatory overhaul in Washington, D.C., U.S., on Thursday, Nov.

In this May 19, 2009 file photo, an office tower known as 1Chase Manhattan Plaza, occupied by JPMorgan Chase & Co., is shown in New York.

Nov. 19 -- Larry Kramer, an adviser to Polaris Venture Partners, talks with Bloomberg's Betty Liu about plans by General Electric Co.

Blackstone Group's Pinnacle Brands Corp is likely to buy U.S. frozen vegetable company Birds Eye Foods for more than $1.3 billion, the Wall Street Journal said, citing people familiar with the matter.

Trade Financial Corp. shares surged late Wednesday after media reports fed speculation that rival online broker TD Ameritrade Holding Corp.

US investment bank JP Morgan Chase today announced a deal to take full control of Cazenove, a 190-year-old London stockbroker with Britain's Queen Elizabeth II among its clients.

The agency that manages Wisconsin's pension fund has tightened its travel policy to discourage employees from taking expensive business-class flights, a practice that had become routine in recent years.

In this Dec. 14, 2007, file photo, a traveler uses a Delta Airlines credit card to buy an airline e-ticket at the Bob Hope Airport in Burbank, Calif.

Nov. 18 -- Larry Kantor, head of research at Barclays Capital Inc., talks with Bloomberg's Betty Liu, Adam Johnson and Jon Erlichman about the outlook for job growth in the U.S. Kantor, speaking from London, also discusses the prospects for a double-dip recession, productiviand the impact of China's growth on the U.S.

American Express today announced its $300 million purchase of Revolution Money , a PayPal competitor backed, among others, by former AOL CEO Steve Case.

Wells Fargo Investments LLC will repay about $1.3 billion to clients whose funds were frozen in the auction-rate securities market in the latest of a series of settlements with state securities regulators, an industry association said on Wednesday.

In this Feb. 11, 2009 file photo, Citigroup Chief Executive Officer Vikram Pandit, right, accompanied by Morgan Stanley Chairman and Chief Executive Officer John Mack, testifies on Capitol Hill in Washington.

In this undated theater publicity image released by Center Theatre Group , Julia Stiles, left, and Bill Pullman are shown in a scene from the Los Angeles production of "Oleanna." The Broadway revival of David Mamet's "Oleanna" is folding after a 97-performance run.

Goldman Sachs Group Inc. is teaming with billionaire investor Warren Buffett to invest $500 million to provide thousands of small business owners across America with college scholarships and boost their access to capital.

Nov. 17 -- William Cohan, author of "House of Cards" and a Bloomberg Television contributing editor, talks with Erik Schatzker and Deirdre Bolton about Bank of America Corp.'s search for a new chief executive officer to replace departing chief Kenneth Lewis.

Lazard Ltd. on Tuesday appointed Kenneth M. Jacobs as CEO and chairman, choosing a longtime executive at the investment advisory firm to fill vacancies from last month's sudden death of Chairman and CEO Bruce Wasserstein.

UBS tax disclosure criteria unveiled to U.S. UBS REUTERS Those who hid more than one million Swiss francs in undeclared bank accounts with UBS could have details turned over to U.S. government Balz Bruppacher Bern, Switzerland - Published on Tuesday, Nov.

In this Jan. 25, 2009 file photo, a Bank of America branch office is shown in New York.

Microsoft Corp. co-founder and billionaire investor Paul Allen has been diagnosed with non-Hodgkin's lymphoma and is undergoing chemotherapy.

Officials managing the multibillion dollar bailout of insurance giant American International Group Inc.

Nov. 16 -- James Paulsen, chief investment strategist at Wells Capital Management, talks with Bloomberg's Carol Massar, Jon Erlichman and Adam Johnson about the outlook for the U.S. stock market.

Consumer prices in the 16 countries that use the euro fell by 0.1 percent in the year to October, official figures confirmed Monday.

A software firm could create up to 200 jobs at a new Scottish operation, the company has said.

Central banks will be net buyers of gold this year as they diversify away from the U.S. dollar, global commodities investment fund BlackRock said on Monday in comments that helped drive bullion to fresh record highs.

Westpac Banking Corp paid $A6.4 million to buy the Auckland home of former Westpac NZ chief executive Brad Cooper.

Leaders of a congressional commission investigating the causes of the recent financial crisis are threatening to publicly identify any company or government agency that stalls in voluntarily producing requested documents.

In this Jan. 12, 2009 file photo, Citigroup headquarters is seen in New York. Citigroup Inc.

Federal regulators on Friday ordered Orion Bank to take immediate action that includes firing Jerry Williams, the bank's founder, chairman, president and chief executive officer.The order, released by the Federal Reserve late Friday afternoon, also pushed the bank into a forced sale.As of Saturday, all 23 Orion branches will reopen as IberiaBank, ...

In continuance of its agitation for the cause of sons of soil, Raj Thackeraya s MNS has written to State Bank of India for considering locals for the new positions.

Eight decades after pioneering the concept of broadcasting, NBC is on the verge of a startling move that illustrates broadcast television's decline.

CF Industries Holdings Inc. said Friday that the RiskMetrics proxy advisory firm supports its nominees for the board of Terra Industries, which is fighting a CF takeover attempt.

Nov. 13 -- Michael Cuggino, who helps oversee more than $4 billion at Pacific Heights Asset Management LLC in San Francisco, talks with Bloomberg's Matt Miller and Carol Massar about the U.S. economy and fund holdings.

Wal-Mart Stores, the world's biggest retailer, is offering its clothing vendors a faster way to get paid that could change how struggling retailers and vendors do business together.

A strong debut by Dollar General in its first day of trading may signal a warmer reception for public offerings, a market that nearly froze last year and has had a fitful recovery.

A U.S. District judge's lax oversight of more than $30 million tied to the late Philippines President Ferdinand Marcos is "curious," a federal appeals court said in an opinion issued Friday.

Lessons learned from the global economic crisis will be the topic of an address by Federal Reserve Bank of New York President William Dudley at Princeton University.

Orion Bank, Naples, Florida, was closed Friday by the Florida Office of Financial Regulation.

Nov. 13 -- Robert Khuzami, enforcement director at the U.S. Securities and Exchange Commission, discusses insider-trading cases involving hedge funds.

Two former computer programmers for Bernard Madoff's investment firm were arrested Friday on charges they helped cover up the disgraced money manager's massive fraud for more than 15 years.

Kenneth Feinberg , the Obama administrationa s special master for executive compensation, said he is a oevery concerneda about the possibility his pay cuts may drive talent away from companies bailed out by U.S. taxpayers.

In this Oct. 16, 2009 file photo, customers use ATMs at a Bank of America branch office, Friday, Oct 16, 2009 in Boston .

Bank of America Chairman and Chief Executive Officer Ken Lewis, left, testifies before the House Financial Services CommitteeA in February.

Would you buy stock in a company that has assets of $1.5 billion, liabilities of $35 billion and only $60,000 in revenue in 2 1/2 months? Those were figures reported Thursday by Motors Liquidation Co., the company formed from the unwanted factories and massive debt left behind by General Motors Co.

Nov. 12 -- Roel Campos, a partner at Cooley Godward Kronish LLP and former commissioner at the U.S. Securities and Exchange Commission, discusses Senator Christopher Dodd's draft legislation for financial regulations that would set up a framework for self-funding at the SEC.

U.S. banks will prepay about $45 billion in premiums to replenish a federal deposit insurance fund now in the red, under a plan adopted by federal regulators.

Conglomerate posts $180-million loss in third quarter; revenue falls to $6.1-billion from $7.1-billion Toronto - Diversified investment company Onex Corp.

Close You asked. We're building it. Commercial property values sink BURLINGTON, ONT- 06/03/09 - Images for a business story on the amount of office space that is currently available for lease.

Adobe is to cut 9% of its workforce, or roughly 680 staff, as part of a company restructuring that follows a year in which its principal customers a ' in large corporations, and especially publishing a ' have been struggling to generate cash.

AKRON, Ohio - FirstMerit Corp. said Wednesday that it will enter the Chicago-area banking market by buying 24 branches and $1.2 billion in deposits from First Bank for about $42 million.

Jeff Zucker Inexplicably To Lead Comcast/NBC Venture Nov. 11, 2009, 1:00 PM 309 Jeff Zucker is a lucky man.

The head of the Federal Deposit Insurance Corp. said Tuesday she's "very worried" that the nation's biggest banks aren't lending enough and warned the economy could take another turn for the worse without increased access to credit.

American Express Co. said Tuesday that spending on its credit cards increased in October for the first time this year, an encouraging sign that consumers may be feeling more confident about the economy.

In this Oct. 14, 2009, file photo, former Bear Stearns hedge fund manager Matthew Tannin enters Brooklyn federal court in New York.

The Federal Agricultural Mortgage Corporation reported third quarter earnings of a dollar 74 per share, up from its loss in Q3 of 2008 of ten dollars and 55 cents per share.

The European Commission has objected to Oracle Corp's acquisition of computer maker Sun Microsystems Inc, throwing the $7 billion deal into question.

Unemployment likely will remain high for the next several years because the economic recovery won't be strong enough to spur robust hiring, Federal Reserve officials warned Tuesday.

Barclays bank has reported A 4.5bn in pre-tax profits for the last nine months. Bankers at Barclays are set to enjoy large bonuses this year Strong peformance from the bank's investment sector led to the large profit.

Bank of America Corp. said Monday that it extended nearly $184 billion in credit during the third quarter, as households and communities remain under financial strain.

T. Rowe Price will buy a 26 percent stake in UTI Asset Management Co. Ltd . and UTI Trustee Co.

Fannie Mae is evaluating whether it will have to write down the value of its low-income housing tax credits after the U.S. Treasury Department rejected a plan to sell them, the mortgage-finance company said today.

Nov. 9 -- Bloomberg's Sara Eisen reports on the outlook for the euro. A decade after the euro replaced the deutsche mark, Germany's export-driven recovery is undermining European Central Bank President Jean-Claude Trichet's efforts to slow the currency's record rise.

General Electric Co. and Comcast Corp. have agreed on a $30 billion valuation of NBC Universal , according to a Reuters report.

One in ten Scots say they are planning to apply for more credit over the next three months despite the ongoing recession, according to research.

Northrop Grumman said Sunday it agreed to sell its advisory services business TASC Inc.

ASB performed well in the first quarter but operating conditions remain difficult in New Zealand, parent Commonwealth Bank of Australia said today.

SOUTH Korea's state-funded KDB Financial Group Inc is seeking to buy Southeast Asian banks, instead of merging with Korea Exchange Bank , as the market expected, the group's chief said on Sunday.

Lloyd Blankfein, the chairman and chief executive, of Goldman Sachs, has claimed that bankers do "God's work". Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs Photo: BLOOMBERG Mr Blankfein , the son of a Brooklyn postal worker, believes that banks serve a "social purpose" and argues that the return of big profits and bonuses ...

Even as Washington tries to rein in Wall Street pay, bankers are likely to make unusually large gains on the stock grants and options they received after shares in their companies fell sharply during the financial meltdown, The New York Times's Louise Story reports.

Gateway Bank of St. Louis, St. Louis, Missouri, was closed Friday by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation as receiver.

Nov. 6 -- Michael Yoshikami, chief investment strategist at YCMNet Advisors, and Dan Brady, an options trader at Entropy Capital, talk with Bloomberg's Carol Massar and Matt Miller about the U.S. economy, stock market and their investment advice.

In our last episode of "Willie Aames Confidential," the onetime star of TV's "Eight Is Enough" and "Charles in Charge" was holding a yard sale in front of his foreclosed home in Olathe.

Billionaire investor Warren Buffett's Berkshire Hathaway Inc. said third-quarter profit tripled as stock markets advanced and the cost of compensating insurance customers for storm damage dropped.

Over the last year it's become abundantly clear that the stock market can devastate even seemingly healthy retirement accounts.

John S. Reed , who helped engineer the merger that created Citigroup Inc. , apologized for his role in building a company that has taken $45 billion in direct U.S. aid and said banks that big should be divided into separate parts.

The Alabama National Guard has identified the soldier who was injured in the shooting rampage at Fort Hood, Texas.

Nov. 6 -- Jan Hatzius, chief U.S. economist at Goldman Sachs Group Inc., talks with Bloomberg's Deidre Bolton and Erik Schatzker about his outlook for the economy, labor market and Federal Reserve monetary policy.

Regulators have shut small banks in Georgia and Michigan, bringing the number of bank failures this year to 117 amid the struggling economy and a cascade of defaults on loans.

CF Industries Holdings Inc. rejected rival fertilizer producer Agrium Inc.a s increased $4.52 billion takeover offer, saying it a oesubstantiallya undervalues the company.

Oil prices climbed toward $80 a barrel Friday, catching up with a surge in global stock markets and assisted by a slightly weaker dollar which made crude more attractive to international investors.

NEW YORK - Big bonuses could be back in store for some top executives and traders on Wall Street as profitability returned to the investment banking industry in 2009, according to a new study released today.

Some of New York's biggest companies, including Wall Street giants Goldman Sachs and Citigroup, received doses of swine flu vaccine for at-risk employees, drawing criticism that the hard-to-find vaccine is going first to the privileged.

Nov. 5 -- Michael Morris, an analyst with UBS AG, talks with Bloomberg's Carol Massar, Adam Johnson and Jon Erlichman about the outlook for CBS Corp.'s earnings.

WASHINGTON - Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced today.

Criminal charges have been filed against 14 people, including attorneys and Wall Street professionals, in a widening $53 million insider trading case that has already snared one of the richest men in America, federal prosecutors said Thursday.

The European Central Bank and the Bank of England kept interest rates at record lows Thursday as their economies struggle to emerge from recession.

A A A' With the recession apparently over, the Federal Reserve held a key interest rate at a record low and again pledged to keep it there for an "extended period" to foster the fragile economic recovery.

Wall Street's top trading firm saw $100 million-plus in revenue more days than not last quarter, comfortably bankrolling an 80% hike in average pay for its 31,700-strong work force.

Nov. 4 -- David Resler, chief economist at Nomura Securities International Inc., talks with Bloomberg's Carol Massar and Erik Schatzker about today's report from ADP Employer Services which says companies in the U.S. cut an estimated 203,000 jobs in October.

GOLDMAN Sachs has agreed to sell half of its holding in Shineway Group, China's top meat processor, to a Chinese fund for about US$150 million, earning roughly five times its investment from the landmark 2006 deal, sources with direct knowledge of the matter said yesterday.

Bank of Ireland has suffered almost a 1bn losses in six months this year, it revealed today.

Goldman Sachs was one of the last Wall Street giants to enter the subprime lending world, but when it did, it quickly climbed into bed with profligate, highflying firms - companies such as New Century Financial Corp.

The head of Rhode Island-based Citizens Financial Group says it won't be sold by its parent company, the Royal Bank of Scotland, as a condition of the British government pouring billions of dollars into the firm.

Warren Buffett leads a simple life. But when the revered business legend buys a train set, its a $34 billion mega-deal.Coming along just as the economy has begun to recover, Buffetts bid on Tuesday to buy the Burlington Northern Santa Fe Corp.

Nov. 3 -- Christopher Brendler, an analyst at Stifel Nicolaus & Co., comments on the outlook for MasterCard Inc.

MasterCard Inc. said Tuesday its third-quarter profit was bolstered by continued cost-cutting measures and an increase in the number of transactions it processed.

Fiji has ordered envoys from New Zealand and Australia, its two biggest neighbours, to return home within 24 hours, accusing them of interfering in its internal affairs.

Australia's central bank raised its key interest rate Tuesday by a quarter percentage point for the second month in a row, declaring the global downturn over and warning that inflation was set to rise.

General Motors Co. said it has received permission to use $2.8 billion of its government aid to help buy part of troubled auto parts supplier Delphi Corp., the automaker's former parts division.

The government's "pay czar" expects compensation plans for additional employees at the seven companies getting the biggest bailouts to be in place by year's end, while the Federal Reserve will soon start its own work on banks' pay practices.

In what may become the most wide-ranging insider stock trading scheme to be uncovered this decade, evidence uncovered last month by the US Securities and Exchange Commission led to the indictment last week of IBM Senior Vice President Robert Moffat, believed to have been the next-in-line for the CEO post.

Nov. 2 -- David Tice, chief portfolio strategist for bear markets at Federated Investors Inc., talks with Bloomberg's Deirdre Bolton about the outlook for the S&P 500 Index.

Passersby are reflected on an electronic stock indicator in Tokyo. Asian stock markets fell today after grim news about American consumers sowed more doubts about the strength of the U.S. economic recovery and sent Wall Street tumbling last week.

Concerns over the way New Zealand officials handled a visa application for a Fijian judge with a sick child have led to a diplomatic tiff in Suva.

Goldman Sachs Group Inc is in talks to buy millions of dollars of tax credits from Fannie Mae, but the U.S. Treasury could block the deal, The Wall Street Journal reported on Sunday.

Terra Industries Inc. today confirmed receipt of a revised proposal from CF Industries Holdings, Inc.

In this July 20, 2009 file photo, the logo of the CIT Group is seen in New York.

Move over Switzerland. The tiny state of Delaware beats the Alpine country in a contest for the most secretive financial jurisdiction, a tax justice rights group said on Saturday.

Madoff documents reveal incredulous, unfocused SEC Sat Oct 31, 2009 4:47pm EDT - Accused swindler Bernard Madoff enters the Manhattan federal court house in New York, March 12, 2009.

U.S. Bank of Minneapolis, a division of U.S. Bancorp, on Saturday assumed the deposits and assets of California National Bank of Los Angeles and eight smaller related banks shut down by federal regulators.

In 2006 and 2007, Goldman Sachs Group Inc. peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages but never told the buyers that it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.