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814 Business News - General Resources
Aflac
Aflac Profit Jumps 20%, Boosted By Stronger Yen
Aflac Inc. on Wednesday reported a first-quarter profit of $569 million, or $1.22 a share, up from $474 million, or 98 cents a share, a year ago. Total revenue rose to $4.8 billion from $4.3 billion thanks in part to beneficial dollar/yen exchange rate.
Open Open Tab April 29, 2009 Provides Information
AIG
Treasury Considered Letting AIG File for Bankruptcy
In late January and early February, government officials considered allowing AIG to file for bankruptcy as they struggled with whether to provide additional support for the failed insurance giant, according to documents obtained by FOX Business.
Open Open Tab June 26, 2009 Provides Information
AIG says former top exec plundered retirement plan
The former top executive of American International Group Inc. plundered an AIG retirement program of billions of dollars because he was angry at being forced out of the company, a lawyer for AIG told jurors Monday at the start of a civil trial.
Open Open Tab June 15, 2009 Provides Information
Temasek, Li May Join AIG Investment Bid
Temasek Holdings Pte. Ltd. of Singapore and Richard Li's Pacific Century Group may join a group led by Franklin Resources Inc.'s Franklin Templeton Investments unit to buy American International Group Inc.'s Investments unit, The Wall Street Journal reported Tuesday on its Web site, citing people familiar with the matter.
Open Open Tab June 2, 2009 Provides Information
AIG Launches IPO Process for Asian Crown Jewel
American International Group announced Sunday it was speeding up plans to spin off Asian subsidiary American International Assurance Company, and would seek a public listing for AIA on an Asian stock exchange.
    May 18, 2009 Provides Information
AIG Is Just Trying to Pay Back the Taxpayer, CEO Says
American International Group is now simply trying to pay back the taxpayer after its massive bailout, CEO Edward Liddy said -- and while he said there could be more problems ahead if the economy continues to deteriorate, he feels there’s a good chance the company can pay everything back.
Open Open Tab May 16, 2009 Provides Information
AIG CEO: Insurance Giant Remains Toxic After $180B Bailout
AIG CEO Edward Liddy said the crippled firm is selling many of its foreign assets to repay U.S. taxpayers, but lawmakers questioned whether the plan makes sense.
Open Open Tab May 13, 2009 Provides Information
AIG Reports $1.98 a Share Loss In First Quarter
American International Group late Thursday reported a first-quarter net loss of $4.35 billion, or $1.98 a share, narrowing from a net loss of $7.81 billion, or $3.09 a share, in the same quarter last year.
Open Open Tab May 7, 2009 Provides Information
AIG Expects $5 Bln First-quarter Loss
American International Group is expected to report a net loss of about $5 billion in the first quarter, the Wall Street Journal reported on its web site Wednesday.
Open Open Tab May 6, 2009 Provides Information
AIG's 2008 Bonus Total Nearly Quadruples to $454 Million in Latest Revision
AIG now says it doled out more than $454 million in bonuses to its employees for work performed in 2008, an increase from the $120 million it claimed to have paid out in March.
Open Open Tab May 5, 2009 Provides Information
AIG Names Matthew Winter Vice Chairman
 
Open Open Tab April 25, 2009 Provides Information
Treasury Gives Nearly $30B More to AIG Rescue Plan
The Treasury Department also says it added Bank of America Corp. and Countrywide Home Loans Servicing to its mortgage relief program.
Open Open Tab April 21, 2009 Provides Information
We Must Prevent Another AIG
America in the late 1800s was faced with a new and menacing challenge to its financial well-being. We needed at that time, new laws to stop and prevent a single company from owning or controlling all or nearly all of the market of a product or service, thereby creating a monopoly.
Open Open Tab April 6, 2009 Provides Information
Former AIG CEO Assails Successors, Bailout
In his first testimony since the government stepped in with the first of four bailouts for AIG, Maurice "Hank" Greenberg told the House Oversight and Government Reform Committee Thursday that his leadership team had "nothing to do" with failures that so far have cost taxpayers more than $182 billion.
Open Open Tab April 2, 2009 Provides Information
Former AIG CEO criticizes successors, bailout
The man who built insurance giant American International Group Inc. from a startup to a global behemoth said he didn't mismanage the company — but the government did.
Open Open Tab April 2, 2009 Provides Information
Airlines
800 BA workers set to work unpaid
British Airways has said 800 workers have volunteered to work for nothing for up to a month, following the airline's request to cut costs.
Open Open Tab June 25, 2009 Provides Information
787 Dreamliner's First Flight Delayed Yet Again
Structural reinforcement for a side-of-body panel is the latest hold-up
Open Open Tab June 23, 2009 Provides Information
Foreign Carriers Lead Airline Sector Lower
Brazilian airlines Gol Linhas Aereas and Tam SA along with Ireland's Ryanair all saw their shares drop about 5% early Monday, following the broader market into the red even as oil prices dipped. The NYSE Arca Index lost 3.3% to 16.76 points with all 13 components moving lower.
Open Open Tab June 22, 2009 Provides Information
Boeing Sells Two 737-800 Jets For $153 Million
Boeing Co. said Wednesday it has finalized an order with MC Aviation Partners for two next-generation 737-800 jetliners for about $153 million. The order represents the Japanese aircraft lessors first airplanes from Boeing. The new planes will be leased to Skymark Airlines Inc. in Japan. MCAP manages 60 planes.
Open Open Tab June 17, 2009 Provides Information
AirAsia X Orders 10 A350s From Airbus
Malaysian low-cost carrier AirAsia X placed a firm order for 10 Airbus A350 XWB aircraft, with options for five more. The carrier had previously ordered 10 A330s.
Open Open Tab June 16, 2009 Provides Information
Airlines Catch Lift As Oil Turns Back Toward $70
Airline stocks caught a lift from falling oil prices early Thursday, with Alaska Air Group and U.S. Airways Group leading the advance. The NYSE Arca Airline Index edged up fractionally to 17.42 points, bucking the broader market's decline. Crude oil fell $1.09, or 1.5%, to $71.59 a barrel.
Open Open Tab June 12, 2009 Provides Information
Boeing: Demand For New Planes At 29,000 By 2028
Boeing on Thursday estimated the market for new commercial airplanes over the next 20 years at $3.2 trillion and expected demand for planes to reach 29,000 by 2028, slightly down from 29,400 jets it projected in 2008.
Open Open Tab June 11, 2009 Provides Information
Airlines First-quarter Perfomance Best In 15 Years
U.S. airlines have been posting some of their best on-time performance numbers in 15 years as airlines wind down their capacity in wake of the recession. In a Tuesday release, the U.S. Bureau of Transportation said the industry's on-time performance for the first three months of 2009 was its the third best since the agency started keeping track.
Open Open Tab June 9, 2009 Provides Information
American Airlines, American Eagle May Traffic Down
AMR Corp. said late Wednesday that May traffic declined at both American Airlines and regional carrier American Eagle. May traffic at American Airlines fell 11.7% to 10.38 billion revenue passenger miles, and traffic at American Eagle declined 14.3% to 622.9 million revenue passenger miles from a year ago.
Open Open Tab June 3, 2009 Provides Information
United Airlines Reports 12% Drop In May Traffic
United Airlines parent UAL Corp. reported late Wednesday overall traffic, measured in revenue passenger miles, fell 12.3% in May from the same month a year ago.
Open Open Tab June 3, 2009 Provides Information
Air France-KLM's Quarterly Operating Loss Widens
Air France-KLM , Europe's largest airline, said its fourth-quarter operating loss widened to 574 million euros from 37 million euros in the year-earlier quarter. Revenue fell 12% to 5.01 billion euros as the impact of the economic crisis "deepened further."
Open Open Tab May 19, 2009 Provides Information
People Flying On US Airlines Fell 12% In February
The number of people flying on U.S. airlines plunged 12% in February from a year ago, the largest single-month decline in about seven years, the Department of Transportation said Thursday.
Open Open Tab May 14, 2009 Provides Information
Continental Cuts 500 Reservation Jobs In Tampa
Continental Airlines Inc. said Wednesday it intends to close its Tampa, Fla., reservation center and eliminate about 500 jobs as more customers purchase their tickets online.
Open Open Tab May 13, 2009 Provides Information
Alaska Air Trims 37% From Its Mexico Routes
Alaska Air said Wednesday it would reduce its summer and fall flying to Mexico by 37% beginning July 2 through fewer flights.
Open Open Tab May 6, 2009 Provides Information
American Airlines' Traffic Down 4.7% In April
AMR Corp. said late Monday that April traffic at its American Airlines unit fell 4.7% to 10.28 billion revenue passenger miles from 10.79 billion revenue passenger miles a year ago. A revenue passenger mile is equal to one passenger flown one mile.
Open Open Tab May 4, 2009 Provides Information
Boeing sends 787 Dreamliner to the flight line
After what must seem to Boeing executives, not to mention aviation industry observers, like never-ending delays, the aircraft giant said on Monday that it has moved its much anticipated 787 Dreamliner to the flight line for final testing.
Open Open Tab May 4, 2009 Provides Information
United Air April Traffic Falls, Load Factor Flat
UAL Corp. said late Monday that April traffic fell 8.7% to 9.39 billion revenue passenger miles from 10.28 billion a year ago.
Open Open Tab May 4, 2009 Provides Information
United Airlines To Curtail Mexico Flights
United Airlines will temporarily cut the number of weekly flights between Mexico and the United States to 24 from 61 starting on May 5 and to 52 from 90 in June, the airline said Friday. The move follows 156 reported cases of the H1N1 flu in Mexico with at least nine deaths.
Open Open Tab May 1, 2009 Provides Information
Transportation Secretary Hints at Aid for Airlines
LaHood said he thinks the Obama administration will seek financial aid for airlines to pay for equipment onboard planes that will be needed to move to a satellite-based air traffic control system.
Open Open Tab April 30, 2009 Provides Information
EDS, an HP Company, to Help Continental Airlines Transform Flight Operations
EDS, an HP company, today announced an agreement with Continental Airlines to enhance its EDS Flight Planning Services in order to reduce flight operating expenses and create efficiencies for Continental by automating some aspects of flight planning.
Open Open Tab April 28, 2009 Provides Information
Airline Sales In 2Q Looks Worse Than Expected -UBS
UBS downgraded shares of AMR Corp. , Continental , US Airways , and UAL Corp. to neutral from buy on Monday, saying the industry is facing even worse revenue trends in the second quarter than first expected.
Open Open Tab April 27, 2009 Provides Information
The Airlines: Fly The Empty Skies
The industry cut costs, and profits are up. Now to get some passengers.
Open Open Tab April 23, 2009 Provides Information
Boeing BCA Saw About 60 Delivery Deferrals In 1Q
Boeing Co. said Wednesday it saw about 60 delivery deferrals for its commercial aircraft in the first quarter, pushing new delivery dates from 2010 and 2011 to future periods.
Open Open Tab April 22, 2009 Provides Information
Delta CEO: Revenue Collapse Appears To Have 'bottomed Out'
Delta Air Lines Inc. Chief Executive Richard Anderson said Tuesday that the deterioration in revenue appears to have bottomed out in the first quarter. "We've seen some signs of stabilization as the revenue environment appears to have bottomed out," Anderson said in a post-earnings call.
Open Open Tab April 21, 2009 Provides Information
Southwest Swings to a First-Quarter Loss
Southwest Airlines reported a much larger than expected first-quarter loss Thursday as the carrier’s chief executive described the current environment as the toughest ever for his company.
Open Open Tab April 16, 2009 Provides Information
AMR Says Federal Stimulus Plan Important To Helping Airlines
In a letter to employees, AMR Corp. Chairman and Chief Executive Gerard Arpey blamed the carrier's first-quartet loss on the worst economic environment since 1982, and praised federal stimulus programs designed to stabilize the banking system.
Open Open Tab April 15, 2009 Provides Information
AMR Sees Slower Booking Erosion In Q2, More Yield Pressure
AMR Corp. said Wednesday bookings to date in the second-quarter were showing less erosion when compared to the first quarter. "Our mainline booked load factor for the remainder of the second quarter is down by about two points," said Chairman and Chief Executive Gerard Arpey on a post-earnings call with analysts.
Open Open Tab April 15, 2009 Provides Information
United To Begin Charging Very Obese For Second Seat
Under the new guidelines, passengers who are unable to fit into a single seat in the ticketed cabin; unable to properly buckle the seatbelt using a single seat-belt extender; or unable to put the seat's armrests down when seated will have to buy a second ticket.
Open Open Tab April 15, 2009 Provides Information
U.S. Airlines Paid $1.58 Billion For Jet Fuel In February
U.S. airlines paid out about $1.58 billion for jet fuel in February, down significantly from $2.6 billion in the same month last year, according to data released from the Department of Transportation. For February, airlines jet fuel consumption fell 17% to 847.9 million gallons, the agency said.
Open Open Tab April 14, 2009 Provides Information
Boeing To Cut 777 Production; Delay Increases Of 747s, 767s
Boeing Co. said late Thursday it is curbing produciton of twin-aisle commercial jets, a move that will result in a sizable hit to first-quarter earnings. Boeing said it will cut production of 777s to five airplanes a month from seven beginning in June 2010, and will delay plans to modestly increase 747-8 and 767 production.
Open Open Tab April 9, 2009 Provides Information
Continental Gets Tentative Approval To Join Star Alliance
Continental Airlines Inc. said Tuesday the U.S. Department of Transportation approved tentative antitrust immunity for it to join an alliance between United Airlines and eight other Star Alliance member carriers.
Open Open Tab April 7, 2009 Provides Information
Airlines Have Best Performance in 4 Years, Report Says
In the face of a down economy, airlines experienced their best performance in four years in 2008, according to a study by the Airline Quarterly Rating, AQR. This is especially good news for travelers given that 2007 brought the most complaints in over 10 years.
Open Open Tab April 6, 2009 Provides Information
Decrease in Passenger Flights Improves Airline Performance Overall
Fewer flights will create greater congestion on planes -- and drive up prices -- but will also provide a leaner and meaner airline industry, a top researcher said Monday.
Open Open Tab April 6, 2009 Provides Information
Delta Air Lines March Traffic, Capacity Decline
Delta Air Lines Inc. said Monday that March traffic at Delta and Northwest operations combined fell 12.6% to 15.6 billion revenue passenger miles from 17.86 billion a year ago. A revenue passenger mile represents one passenger flown one mile.
Open Open Tab April 6, 2009 Provides Information
Ryanair Reports 5% Passenger Traffic Rise
Ryanair Holdings , the largest of the so-called budget airlines, said March traffic improved 5% to 4.7 million passengers. However, its load factor fell to 77% from 79%. Load factor is a measure of traffic to available seats. Load factors in March were impacted by the switch of Easter from March to April, Ryanair said.
Open Open Tab April 3, 2009 Provides Information
AMM Online
The international news service of American Metal Market, the daily newspaper of the metals and recycling industries.
Open Open Tab   Provides Information
Alcoa
Alcoa Swings To Loss As Aluminum Prices Plunge
Alcoa Inc. on Tuesday reported a first-quarter loss $497 million, or 61 cents a share, vs. a profit of $303 million, or 37 cents a share a year ago. Excluding discontinued operations, Alcoa would have posted a loss of 59 cents a share.
Open Open Tab April 7, 2009 Provides Information
Bankruptcies
Bankruptcy rates reflect policy, not people
What do high bankruptcy rates in states like Tennessee and Utah tell us about the people that live in those places? Not much, according to a new 50-state bankruptcy study published in the latest issue of the Journal of Law and Economics.
Open Open Tab June 22, 2009 Provides Information
Eddie Bauer Filing For Bankruptcy Wednesday
Eddie Bauer Holdings Inc. plans to file for Chapter 11 bankruptcy protection by the end of the day, The Wall Street Journal reported Wednesday on its Web site, citing an unidentified source familiar with the matter.
Open Open Tab June 17, 2009 Provides Information
GOP: Bankruptcy Key To Unwinding Mega-institutions
Regulators should rely on the bankruptcy process to unwind large systemically significant financial institutions rather than allowing government bailout dollars to help resolve insolvent mega-banks, according to a broad regulatory reform proposal introduced by House Republican lawmakers on Thursday.
Open Open Tab June 11, 2009 Provides Information
Eddie Bauer Shares Drop On Rumored Bankruptcy
Shares of Eddie Bauer Holdings Inc. dropped sharply Tuesday following a Bloomberg News report citing five unidentified sources that the outdoor-clothing retailer may file for bankruptcy protection as early as this week. Shares of Eddie Bauer plummeted 44.8% to 26 cents in recent trading.
Open Open Tab June 9, 2009 Provides Information
Delphi Reaches Agreement To Emerge From Bankruptcy
Delphi Corp. said Monday it has reached agreements to allow the bankrupt auto parts maker to emerge from its Chapter 11 reorganization.
Open Open Tab June 1, 2009 Provides Information
BankUnited Financial Files Chapter 11 Bankruptcy
BankUnited Financial Corp. said late Friday it filed for Chapter 11 bankruptcy. BankUnited Financial is the former holding company for BankUnited FSB, which was closed Thursday and placed in receivership. The company said that it is unlikely it will be entitled to any distribution from the Federal Deposit Insurance Corporation given the bank's financial condition.
Open Open Tab May 21, 2009 Provides Information
Honeywell TV maker files for bankruptcy protection
The rough seas of the consumer electronics business has caused yet another smaller boat to capsize. Soyo, the maker of Honeywell TVs, has filed for Chapter 7 bankruptcy protection.
Open Open Tab May 21, 2009 Provides Information
Filene's Basement Files For Chapter 11 Protection
Filene’s Basement filed for bankruptcy protection on Monday, just weeks after the struggling retailer has been purchased by an affiliate of liquidation specialist Buxbaum Group.
Open Open Tab May 4, 2009 Provides Information
GM CEO says bankruptcy probable but not preferred
General Motors Corp. Chief Executive Fritz Henderson said Friday that a bankruptcy filing is "probable" because of the restructuring goals GM must meet to get more government loans, but that isn't the company's preferred option.
Open Open Tab April 17, 2009 Provides Information
Private equity firms win battle for bankrupt Polaroid
Bankrupt Polaroid Corp. has been bought by a pair of private equity firms after a judge threw out the acquisition of the iconic inventor of instant photography by another investor.
Open Open Tab April 17, 2009 Provides Information
General Growth Properties Ranks As Year's Biggest Bankruptcy
General Growth Properties' bankruptcy filing Thursday outflanked the year's other U.S. corporate filings by pre-petition assets, according to BankruptcyData.com.
Open Open Tab April 16, 2009 Provides Information
Bankruptcies surge despite law meant to help
Nearly 1.2 million debtors filed for bankruptcy in the past 12 months
Open Open Tab April 13, 2009 Provides Information
Blockbuster May Shut Retail Stores
Once Goliath to Netlflix's David, Blockbuster appears on the defensive in an effort to stay relevant to movie fans and viable as a business. In a filing with the U.S. Securities and Exchange Committee Monday, Blockbuster stated it may have to permanently close its retail stores. The company recently took out a $250 million loan -- on top of its $780.9 million debt -- and does not know if it can meet the conditions of the loan.
Open Open Tab April 7, 2009 Provides Information
Banks - Banking - Bank Bailouts - TARP - Toxic Assets - Treasury (The)
Hartford Financial Gets $3.4 Billion In TARP Funds
Hartford Financial Services Group Inc. said Friday it received $3.4 billion in funds from the U.S. Treasury's Troubled Asset Relief Program. Under its agreement with the Treasury, Hartford sold non-voting senior preferred shares with a 5% annual dividend for the first five years and 9% dividend thereafter. Treasury also received warrants to buy common stock equal to 15% of the preferred investment, or $510 million. The exercise price of the warrants is $9.79 a share, Hartford said.
Open Open Tab June 26, 2009 Provides Information
B. Of A. Says It Has Raised Over $33.9 Bln
Bank of America Corp. said late Thursday that it completed offers to exchange preferred stock for new common stock, helping the lender exceed a government-imposed target of raising at least $33.9 billion in new equity capital.
Open Open Tab June 25, 2009 Provides Information
Bernanke denies Fed threatened BofA over Merrill deal
Federal Reserve Chairman Ben Bernanke, facing his toughest grilling yet by U.S. lawmakers, said on Thursday he had never threatened to fire Bank of America's management if they pulled the plug on a planned merger with Merrill Lynch.
Open Open Tab June 25, 2009 Provides Information
Fed Funds Show Rate Hike Likely By December
Investors in interest-rate futures see a good chance that the Federal Reserve will raise its target interest rate by the end of the year and are closely eyeing what policy makers say when they conclude a two-day meeting later Wednesday.
Open Open Tab June 24, 2009 Provides Information
New TARP Chief Sees Positive Economic Signs
In prepared testimony for a congressionally appointed panel, Herbert Allison said Wednesday it is critical for the government to remain vigilant and "press ahead" with recovery efforts.
Open Open Tab June 24, 2009 Provides Information
Treasury Pays Most In 7 Months To Sell 2-year Debt
Bidders offered $3.19 for every dollar of debt being sold, the highest in at least 17 months and well above the average of $2.74 at the last five sales of the same amount. Indirect bidders, a class of investors that includes foreign central banks, bought 68.7%, also by far the highest since January 2008 and more than the 39.8% on average.
Open Open Tab June 23, 2009 Provides Information
Fed Buys $7.5 Billion In Treasurys
The Federal Reserve Bank of New York bought $7.5 billion in Treasurys maturing between 2016 and 2019 on Monday, the first of two operations this week. Dealers offered $20.7 billion to be purchased. The last two times the central bank made purchases from this maturity range, it bought about $7.5 billion.
Open Open Tab June 22, 2009 Provides Information
World Bank cuts forecasts
Corporate sentiment surveys from Germany and Japan showed glimmers of hope on Monday, contrasting with grim global outlooks from the World Bank and Organization for Economic Cooperation and Development.
Open Open Tab June 22, 2009 Provides Information
Bank Failures In Ga., N.C. Bring 2009 Tally To 39
Bank failures in Georgia and North Carolina have brought the number of failures in 2009 to 39, according to the Federal Deposit Insurance Corp. late Friday. Southern Community Bank of Fayetteville, Ga., was the year's seventh bank failure in that state and United Community Bank of Blairsville, Ga., will assume all of the deposits. As of May 29, Southern Community Bank had total assets of $377 million and total deposits of approximately $307 million. United Community Bank will buy about $364 million in assets.
Open Open Tab June 19, 2009 Provides Information
J.P. Morgan TARP Payback Will Cost 27 Cts/share
J.P. Morgan Chase & Co. said on Friday that its repayment of a $25 billion government investment in the company will cot it 27 cents a share in second quarter earnings. The company said the total cost of the non-cash charge for the payback would be about $1.10 billion.
Open Open Tab June 19, 2009 Provides Information
10 Banks Plan to Repay $68B in TARP Funds
The Treasury Department last week gave the 10 banks permission to repay the funds, which they received under the $700 billion bailout plan, known as the Troubled Asset Relief Program.
Open Open Tab June 17, 2009 Provides Information
Capital One Pays Back $3.57 Billion To TARP
Capital One Financial Corp. said it paid back about $3.57 billion to the U.S. Treasury's Troubled Asset Relief Program, according to a Securities and Exchange Commission filing Wednesday. The buyback, which included principal and accrued dividends, involved 3.6 million of Capital One preferred shares.
Open Open Tab June 17, 2009 Provides Information
Goldman Sachs Repays About $10 Bln In TARP Funds
Goldman Sachs Group said Wednesday it has bought back 10 million preferred shares issued to the Treasury earlier for about $10.04 billion.
Open Open Tab June 17, 2009 Provides Information
J.P. Morgan Chase Repays $25 Billion In TARP Funds
J.P. Morgan Chase & Co. said Wednesday that it has repaid the $25 billion it received under the U.S. Treasury's Troubled Asset Relief Program. In addition to the principal, the bank said it paid $795.1 million in dividends on preferred stock held by the Treasury.
Open Open Tab June 17, 2009 Provides Information
Morgan Stanley Repays $10 Bln To TARP
Morgan Stanley said Wednesday it repaid $10 billion in Troubled Asset Relief Program funds to the Treasury. It did not provide details on dividend payments but said it will continue to work with the Obama administration and Congress to ensure soundness in the banking system and the strength and stability of the financial system.
Open Open Tab June 17, 2009 Provides Information
Treas: $3.1 Billion In TARP Go To Alter Mortgages
Seven mortgage servicers received $3.1 billion in additional bank bailout funds to use as part of a Treasury program seeking to modify mortgages, according to an agency report released Tuesday. The report, which identifies fund allocations as part of the government's Troubled Asset Relief Program, also identifies seven banks, including OneFinancial Corp. and River Valley Bancorporation Inc., which received a cumulative $39 million in TARP funds.
Open Open Tab June 16, 2009 Provides Information
Morgan Stanley To Start Repaying TARP Wed: Report
Morgan Stanley is expected on Wednesday to begin repaying billions of dollars in bailout funds received from the U.S. Treasury, CNBC reported Tuesday, citing an unidentified person familiar with the situation.
Open Open Tab June 16, 2009 Provides Information
Bernanke Invited To Testify On Merrill Deal
A key congressional panel is inviting Federal Reserve Chairman Ben Bernanke to testify on June 25 about allegations by Bank of America Chief Executive Kenneth Lewis that government officials pressed him to buy Merrill Lynch & Co. after he became aware of major losses at the investment bank.
Open Open Tab June 16, 2009 Provides Information
Citi's Parsons Says No TARP Repay Timetable
Citigroup Inc. Chairman Richard Parsons on Monday said the company plans to pay back the $45 billion it has borrowed under the Troubled Asset Relief Program, but there is no timetable for doing so, according to a published report.
Open Open Tab June 15, 2009 Provides Information
Treasurys Perk Up After Lukewarm Housing Data
Treasury note , which move inversely to prices, fell 7 points to 3.7162%. Yields on the 2-year note slid 4 basis points to 1.2276%. Government bonds had rallied earlier as investors took advantage of recently higher rates and looked ahead to a week free of new Treasury sales.
Open Open Tab June 15, 2009 Provides Information
Summers Defends Government Bailouts as Necessities
The president's National Economic Council director says the financial system breaks down on average every three years so it's no surprise the public would want government intervention.
Open Open Tab June 12, 2009 Provides Information
Banks Expected To Start Repaying TARP Soon
J.P. Morgan Chase & Co. , Morgan Stanley and American Express Co. are expected to start repaying money from the U.S. Treasury's Troubled Asset Relief Program Wednesday, The Wall Street Journal reported on its Web site late Thursday, citing people familiar with the matter.
Open Open Tab June 11, 2009 Provides Information
Bank of America CEO: Feds Pressured Bank to Buy Merrill Lynch
Bank of America Chief Executive Officer Kenneth Lewis testified that the federal government threatened to remove board members at his bank if it reneged on a promise to acquire Merrill Lynch, despite Merrill Lynch's crumbling financial state.
Open Open Tab June 11, 2009 Provides Information
BofA CEO Defends Risky Purchase of Merrill
Bank of America Chief Executive Kenneth Lewis on Thursday defended his decision to move ahead with the purchase of Merrill Lynch late last year despite grave concerns for the financial health of the giant brokerage firm.
Open Open Tab June 11, 2009 Provides Information
Frank: Pay Caps on TARP-Funded Firms Will Be Strict
Rep. Barney Frank, Chairman of the House Financial Services Committee, said on Thursday there needed to be more controls on companies that took bailout money, and outlined how financial-services regulation might be changing in the near future.
Open Open Tab June 11, 2009 Provides Information
Treasury Appoints Pay Czar To Oversee TARP Banks
The Obama administration announced the appointment of Washington attorney Kenneth Feinberg as a new compensation czar for corporations that receive a significant amount of funds from the government's bailout program, said White House spokesman Robert Gibbs.
Open Open Tab June 10, 2009 Provides Information
Treasury: Golden Parachutes Blocked For TARP Banks
The Treasury Department released new pay rules Wednesday for banks that have received money from the government's bailout program, including new golden-parachute regulations, claw-back rules and additional disclosure of perks.
Open Open Tab June 10, 2009 Provides Information
READ Interim Final Rule on TARP Standards for Compensation and Corporate Governance
 
Open Open Tab June 10, 2009 Provides Information
House Panel to Subpoena Fed Over B of A-Merrill
A House committee Tuesday said it would subpoena the Federal Reserve to force the central bank to surrender documents regarding its role in Bank of America's takeover of Merrill Lynch last year.
Open Open Tab June 9, 2009 Provides Information
Treasury Sells 3-year Notes At 1.96%
The Treasury Department sold $35 billion in 3-year notes on Tuesday to yield 1.96%. The amount sold matches the amount of the last two monthly sales as the largest on record. Investors bid for 2.82 times the amount of debt auctioned.
Open Open Tab June 9, 2009 Provides Information
U.S. clears 10 big banks to repay bailout funds
The U.S. Treasury Department said on Tuesday that 10 of the nation's biggest banks were approved to pay back a combined $68 billion of taxpayer money pumped into them last year to combat the credit crisis.
Open Open Tab June 9, 2009 Provides Information
Exit From TARP No End To Troubles
Some worry banks not allowed to pay the government back will be marked as ''losers,'' but all face tighter oversight and risks ahead.
Open Open Tab June 8, 2009 Provides Information
Fed: Ten Banks Submitted Sufficient Capital Plans
A group of 10 large financial institutions submitted capital raising and governance plans to the Federal Reserve that would meet the agency's goal of having the banks capitalized to survive an adverse future economic scenario, according to a Federal Reserve statement on Monday.
Open Open Tab June 8, 2009 Provides Information
House Republican Moves to 'Terminate the TARP'
Rep. Jeb Hensarling introduced a bill Monday that will set a Dec. 31 deadline for the Treasury Department to lend money to troubled financial institutions.
Open Open Tab June 8, 2009 Provides Information
B. Of A. Says It Elects Four New Outside Directors
Bank of America Corp. said late Friday its board elected four new directors. The independent directors are Susan Bies, 62, a former member of the Board of Governors of the Federal Reserve System; William Boardman, 67, a former Bank One Corp. and Visa International Inc. executive; D. Paul Jones, 66, former chairman and chief executive of Compass Bancshares Inc.; and Donald Powell, 67, former Federal Deposit Insurance Corp. chairman.
Open Open Tab June 5, 2009 Provides Information
Fed Buys $7.49 Billion In Treasurys
The Federal Reserve Bank of New York bought $7.494 billion in Treasurys maturing between 2011 and 2012 on Thursday, the second operation this week and the latest in the central bank's attempts to keep a lid on borrowing costs and spur economic activity.
Open Open Tab June 4, 2009 Provides Information
Morgan Stanley Seen Among First to Exit TARP
Morgan Stanley is likely to be part of the first wave of major banks to exit the U.S. government's bank bailout program after recently selling more than $2 billion of shares, research analysts said on Wednesday.
Open Open Tab June 3, 2009 Provides Information
J.P. Morgan Plans To Raise $5 Bln In Common Equity
J.P. Morgan Chase said late Monday that it plans to raise $5 billion in common equity as the giant lender tries to repay $25 billion in government money it got last year.
Open Open Tab June 1, 2009 Provides Information
The Fed Puts Out Rules For Banks Returning Funds
Large financial institutions that have received capital from the Treasury's bank bailout program can pay back the funds if they show that they can issue a significant amount of long-term unsecured debt that is not backed by Federal Deposit Insurance Corp. guarantees, the Federal Reserve announced on Monday.
Open Open Tab June 1, 2009 Provides Information
Treasury: TARP Bank Consumer Loans Decreased 0.5%
Consumer and commercial loans from banks that received funds from the $700 billion bank bailout fund decreased by 0.8% in March, compared to February, according to a Treasury report on Monday. Commercial loans from financial institutions went down, on average, 1.5%, during that period, while lending to consumers decreased by 0.5%.
Open Open Tab June 1, 2009 Provides Information
FDIC Tweaks Rule For Banks' Interest Rates
The Federal Deposit Insurance Corp. on Friday changed a rule related to the interest rates that banks that are less than well capitalized can offer on deposits.
Open Open Tab May 29, 2009 Provides Information
Idea of Single Banking Regulator Being Mulled on Capitol Hill
Some Washington policy makers appear to be considering creating a single banking regulator, though a dual-track structure appears to be the idea with the most momentum among top officials right now.
Open Open Tab May 28, 2009 Provides Information
Banks Earn $7.6 Billion in First Quarter After Record Loss in Fourth Quarter
The Federal Deposit Insurance Corp. says higher trading revenues at big banks helped the industry earn a $7.6 billion profit in the January-March period, compared with a record loss of $36.9 billion in the fourth quarter
Open Open Tab May 27, 2009 Provides Information
Fed Buys $6 Billion In Treasurys
The Federal Reserve Bank of New York bought $6 billion in Treasurys maturing between 2012 and 2013 on Wednesday, the latest in the central bank's program to keep borrowing costs lower and spur economic activity.
Open Open Tab May 27, 2009 Provides Information
Treasury Sells 5-year Notes At 2.31%
The Treasury Department sold $35 billion in 5-year notes Wednesday to yield 2.310%. Investors offered $2.32 for every dollar of debt sold, compared with an average of $2.11 in the last four auctions.
Open Open Tab May 27, 2009 Provides Information
Fed: TARP Injection Is High-level Capital
The Federal Reserve on Friday adopted a rule that will allow banks receiving capital from the bank bailout fund to consider some of the financial injections they have received to be a high-level of capital.
Open Open Tab May 22, 2009 Provides Information
Second Illinois Bank Is Closed By Regulators
Macomb, Ill.-based Citizens National Bank was closed by regulators, the 36th bank failure of the year and the second Illinois closure announced on Friday, according to the the Federal Deposit Insurance Corp. Morton, Ill.-based Morton Community Bank has agreed to assume the failed bank's deposits, the FDIC said. Citizens National had roughly $400 million in deposits as of May 13, and $437 million in assets, the FDIC said.
Open Open Tab May 21, 2009 Provides Information
TARP Recipients' Asset Sales May Hurt Taxpayers
U.S. taxpayers were told they would likely make money, when all is said and done, from the Troubled Asset Relief Program, but the actions companies are taking to repay that money may be hurting themselves and the federal coffers in the long run.
Open Open Tab May 22, 2009 Provides Information
Geithner: Private-Public Bank Help to Begin in 6 Weeks
Treasury Secretary Timothy Geithner is telling senators that consumers and investors need protections against manipulation and deception in financial services.
Open Open Tab May 20, 2009 Provides Information
US banks expected to repay $25bn
US financial institutions will repay $25bn of bail-out funds over the next year, the US Treasury says.
Open Open Tab May 20, 2009 Provides Information
B. Of A. Prices Offering Of 825 Mln Shares: CNBC
Bank of America priced a secondary offering of 825 million new shares at $10 each, CNBC's David Faber reported late Tuesday.
Open Open Tab May 19, 2009 Provides Information
Banks talking to U.S. about TARP repayments: official
U.S. banking supervisors have received requests from several major banks to repay emergency government investments, a Federal Reserve spokesperson said on Tuesday.
Open Open Tab May 19, 2009 Provides Information
Several Big Banks Seek to Repay TARP
JPMorgan Chase, Goldman Sachs and Morgan Stanley have petitioned the government to begin repaying their funds from the Troubled Asset Relief Program, a person familiar with the matter said Tuesday.
Open Open Tab May 19, 2009 Provides Information
Faster Payments hits £53.5bn in first year
Faster Payments, the system designed to speed up the movement of money between banks, has now seen £53.5bn in transactions since its launch a year ago.
Open Open Tab May 18, 2009 Provides Information
Fed Buys $3.18 Billion In Treasurys
The Federal Reserve Bank of New York bought $3.18 billion in Treasurys maturing between 2019 and 2026 on Monday, the latest in the central bank's program to keep borrowing costs lower and spur economic activity.
Open Open Tab May 18, 2009 Provides Information
Life Insurers Start to Get Approval for TARP Funds
Insurers are finally getting approval to receive money from the Troubled Asset Relief Program, which is likely welcome relief for a sector that has been struggling, but continues to raise questions about how the government draws the line in terms of which companies it’s bailing out.
Open Open Tab May 15, 2009 Provides Information
Principal Financial Get Preliminary TARP Approval
Principal Financial Group Inc. said Friday the U.S. Treasury gave the insurer preliminary approval for Troubled Asset Relief Program funds. Principal Financial said it applied for $2 billion in funds.
Open Open Tab May 15, 2009 Provides Information
Banks, investment firms draw less from Fed
Banks and investment firms trimmed their borrowing over the past week from the Federal Reserve's emergency lending program, a hopeful sign that some credit problems are easing.
Open Open Tab May 14, 2009 Provides Information
Wells Fargo To Pay $312.5 Mln TARP Dividend
Wells Fargo & Co. said Thursday it will pay $312.5 million in preferred stock dividends on funds received from the U.S. Treasury. The $12,500-a-share dividend is payable Friday. Wells Fargo also said it extended $225 billion in credit to U.S. taxpayers since October.
Open Open Tab May 14, 2009 Provides Information
Administration Claims Bailout Repayments Will Broaden Program
The Obama administration says it will use bailout money repaid by large banks to support additional capital infusions for smaller banks.
Open Open Tab May 13, 2009 Provides Information
Banks Suing MBIA Over Business Split
Several U.S. and foreign financial institutions sued MBIA Inc. , alleging the bond insurer's decision to split its businesses was fraudulent, the Wall Street Journal reported Wednesday in its online edition.
Open Open Tab May 13, 2009 Provides Information
Treasury: Derivatives Must Trade In Clearinghouses
The vast majority of complex and opaque over-the-counter derivatives must be traded on centralized clearinghouses, the Treasury Department reported on Wednesday as part of its regulatory reform effort for exotic financial products.
Open Open Tab May 13, 2009 Provides Information
Report: Citi Using Most of TARP Capital to Make Loans
Citigroup Inc said on Tuesday that the committee overseeing its use of $45 billion of taxpayer money had approved the use of nearly all of that sum to make loans.
    May 12, 2009 Provides Information
Bank Of America Wants To Repay TARP In Months
Bank of America Chief Executive Ken Lewis said on Monday that the bank wants to repay government investments under the Troubled Asset Recovery Program (TARP) within months. "My hope is it's months, not years," Lewis said in a conference call hosted by CLSA analyst Mike Mayo.
Open Open Tab May 11, 2009 Provides Information
Bank Of New York Offering $1 Billion In Shares
Bank of New York Mellon Corp. said late Monday it will offer $1 billion in common shares in a secondary offering.
Open Open Tab May 11, 2009 Provides Information
Fed Says Stress Test Results Should Bolster American Confidence in Banks
Bernanke hopes that the public and investors will take comfort from the fact that financial institutions have been evaluated in a comprehensive and rigorous fashion.
Open Open Tab May 11, 2009 Provides Information
US Listened To Bank, Did Not Negotiate: Lewis
Bank of America Chief Executive Ken Lewis said government regulators running the stress tests on the nation's largest banks recently listened to the bank's own assumptions on some criteria, but they did not have a traditional negotiation with them.
Open Open Tab May 11, 2009 Provides Information
B. Of A. Prices Stock Offering At $8.79 a Share
Bank of America Corp. on Friday said it plans to offer 1.25 billion shares of common stock at a proposed maximum offering price of $8.79 a share.
Open Open Tab May 8, 2009 Provides Information
Wells Fargo Raises $8.6 Bln Via Stock Offering
Wells Fargo & Co. said Friday it raised about $8.6 billion through the offering of 392.15 million shares after underwriters fully exercised their option to purchase an additional 51.15 million shares. The offering, which priced Friday, will be settled on Wednesday.
Open Open Tab May 8, 2009 Provides Information
10 Banks Asked to Raise Nearly $75B, Per Stress Tests
There were few surprises contained in the anxiously awaited results of the bank stress tests released by the government on Thursday -- and that’s probably just how they wanted it.
Open Open Tab May 7, 2009 Provides Information
Bank stress tests show some banks need more funds
Some of the nation's largest banks will be scrambling to demonstrate that they can raise capital after results of government stress tests leaked out, showing many need more funds. The Treasury Department will officially release results later Thursday.
Open Open Tab May 7, 2009 Provides Information
Bernanke Calls for Revamped Oversight of Banking System
Regulators must examine the financial system as a whole to detect risks that could endanger the normal flow of credit, market operations and commerce -- critical elements to the smooth functioning of the U.S. economy, Ben Bernanke said in prepared remarks.
Open Open Tab May 7, 2009 Provides Information
Bernanke: Fed Able To Wean Markets Off Support
Federal Reserve Board Chairman Ben Bernanke said Thursday he was confident that the central bank could "wean" markets off government support before inflation spikes. In a question-and-answer session after a speech to a Chicago Fed Bank conference, Bernanke said the central bank had all the tools it needed to accomplish the task.
Open Open Tab May 7, 2009 Provides Information
B. Of A. To Sell 1.25 Billion Common Shares
Bank of America Chief Financial Officer Joe Price said late Thursday that the company will sell 1.25 billion new common shares as the lender tries to raise capital to meet requirements from the government's stress test.
Open Open Tab May 7, 2009 Provides Information
Morgan Stanley To Sell $2 Bln In New Common Stock
Morgan Stanley said late Thursday that it's selling $2 billion in new common stock to help the investment bank meet capital requirements from the government's so-called stress test. Morgan Stanley also said it plans to sell roughly $3 billion of senior notes in a public offering that will not be guaranteed by the Federal Deposit Insurance Corporation.
Open Open Tab May 7, 2009 Provides Information
Banks returning bailouts will face conditions
Banks that want to pay back their federal bailout funds and free themselves from government restrictions on compensation and dividends will have to sever their ties to another financial assistance program.
Open Open Tab May 6, 2009 Provides Information
BofA shares rise amid reports of $34B shortfall
Bank of America Corp. stock rose Wednesday as investors appeared comforted by reports that the bank has the means to cover a potential $34 billion shortfall in capital.
Open Open Tab May 6, 2009 Provides Information
Fed: Banks Have 30 Days To Produce Capital Plan
The 19 financial institutions undergoing federal stress tests must have grade A Tier 1 capital of at least 6% and will be required to have a significant amount of their total equity in common shares, according to a statement Wednesday by the Federal Reserve and other regulators.
Open Open Tab May 6, 2009 Provides Information
Wells Fargo Needs $15 Bln In New Capital
Wells Fargo & Co. will need about $15 billion in capital following a U.S. government-led stress test, Bloomberg reported Wednesday on its Web site, citing a person familiar with the matter.
Open Open Tab May 6, 2009 Provides Information
Banks Must Meet Conditions To Repay TARP
Banks that want to repay Troubled Asset Relief Program funds will have to meet certain conditions, including demonstrating their ability to raise funds on their own, The Wall Street Journal reported late Tuesday in its online edition.
Open Open Tab May 5, 2009 Provides Information
Bernanke Contradicts BoA's Lewis On Merrill
Federal Reserve Board chairman Ben Bernanke denied that he urged Bank of America chief executive Kenneth Lewis to hold back disclosure on the true extent of Merrill Lynch's coming fourth-quarter losses until after shareholders approved the bank's purchase of the troubled brokerage.
Open Open Tab May 5, 2009 Provides Information
Bank of America Says No Plans to Raise $10B in Stock
Bank of America on Monday contradicted a report saying it was planning to raise $10 billion in capital.
    May 4, 2009 Provides Information
Dimon Says Morgan Lending $2 Billion a Day
J.P. Morgan Chase Chief Executive Jamie Dimon said on Monday that the bank is lending $2 billion a day. "One of the great misconceptions out there is that banks aren't lending. If you look at bank lending the last couple of quarters, it is up.
Open Open Tab May 4, 2009 Provides Information
Wells Fargo asked to raise money after stress test
Regulators have told Wells Fargo & Co. it may need to shore up its finances after government "stress tests" showed the bank would have trouble surviving a deeper recession.
Open Open Tab May 4, 2009 Provides Information
Citizens Community Bank Fails, 31st Closure Of '09
Citizens Community Bank of Ridgewood, N.J. was closed by the New Jersey Department of Banking and Insurance on Friday, the Federal Deposit Insurance Corporation said, making it the 31st bank failure of 2009 and the 56th since the beginning of financial crisis.
Open Open Tab May 1, 2009 Provides Information
Regulators Seize Silverton Commercial Bank
U.S. banking regulators seized Silverton Bank of Atlanta on Friday, a bank that provided services to other banks, the biggest bank failure so far this year.
    May 1, 2009 Provides Information
Results of Bank 'Stress Tests' to Be Released on Thursday
Results from stress tests into the health of the largest 19 U.S. banks are expected to be released late in the afternoon on Thursday, May 7, a government source said on Friday.
Open Open Tab May 1, 2009 Provides Information
Fed Bought $3.025 Billion In Short-term Treasurys
The Federal Reserve Bank of New York bought $3.025 billion in Treasurys maturing in 2019 and 2026 on Thursday, its latest operation to support the bond market and keep yields low to encourage borrowing.
Open Open Tab April 30, 2009 Provides Information
GOP: Congress Should Review B. Of A. Deal
Lawmakers in Congress should hold hearings examining allegations that the Federal Reserve pressed Bank of America Chief Executive Ken Lewis to remain quiet or risk losing his job as bank regulators examined the mega-institution's acquisition of Merrill Lynch, according to a key Republican.
Open Open Tab April 29, 2009 Provides Information
Over 100 Private Funds Want To Buy Toxic Assets
Over 100 private institutions have sought government approval to join the Treasury's program to clear $1 trillion in so-called toxic mortgages and other assets from banks.
Open Open Tab April 29, 2009 Provides Information
Calpers To Vote Against B. Of A. Board Re-election
The California Public Employees' Retirement System, or Calpers, said Tuesday it will vote against re-electing all 18 Bank of America Corp. board members, including Chief Executive Officer and Chairman Ken Lewis
Open Open Tab April 28, 2009 Provides Information
Shares of BofA, Citi drop on stress test concerns
Citigroup Inc. and Bank of America Corp. will need to raise more capital if they can't convince regulators that "stress test" results were mistaken, according to two people familiar with the matter.
Open Open Tab April 28, 2009 Provides Information
Treasurys Turn Lower After Confidence Data
Treasury prices turned lower Tuesday, pushing yields up, after the Conference Board said its index of consumer confidence improved to 39.2 this month, much higher than expected. Two-year note yields rose 1 basis point to 0.93%.
Open Open Tab April 28, 2009 Provides Information
Union: Remove Ballot Stuffing Votes At B. Of A.
A group of labor unions wants Bank of America Corp. to prohibit brokers from casting director-election votes on behalf of investors that don't vote themselves, when shareholders consider the election of the mega-bank's chief executive Ken Lewis on Wednesday.
Open Open Tab April 28, 2009 Provides Information
Bank Industry to Hear Results of 'Stress Tests'
Regulators trying to stabilize the financial system also will release the test methodology they used, which could provide clues about which banks may be in trouble -- but also could unwittingly roil the industry.
Open Open Tab April 24, 2009 Provides Information
Banking After The Stress Tests
When Uncle Sam tells the country's largest 19 banks today whether they have passed government-run "stress tests," much of the focus will be on capital requirements and which banks are the loudest about the results.
Open Open Tab April 24, 2009 Provides Information
B. Of A. Says Gov't Threatened Management
Bank of America Chief Executive Ken Lewis said that the Treasury and the Federal Reserve threatened to remove him and the firm's board of directors if the company did not go through with a planned acquisition of Merrill Lynch late last year.
Open Open Tab April 23, 2009 Provides Information
New York AG Questions TARP Disclosure
New York Attorney General Andrew Cuomo on Thursday released a letter he sent to Congressional leaders and federal regulators saying that an ongoing investigation has raised questions about transparency at Treasury's TARP program, as well as disclosure matters at Bank of America .
Open Open Tab April 23, 2009 Provides Information
TARP Panel: More Than 250 Firms Withrew Applications for Funding
A report by the Financial Stability Oversight Board says that as of March 27, more than 250 institutions that had received such preliminary approval subsequently withdrew their applications for money from the Capital Purchase Program.
Open Open Tab April 23, 2009 Provides Information
U.S. May Have Encouraged BofA Silence on Merrill Deal
Bank of America Chairman and CEO Ken Lewis testified in February that he felt Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke were encouraging his firm not to discuss its increasingly troubled plan to buy Merrill Lynch as it was coming together late last year, documents released Thursday show.
    April 23, 2009 Provides Information
What Are Bank Stress Tests?
 
Open Open Tab April 23, 2009 Provides Information
Bank Bailout Exposes Government to Massive Losses, Fraud
A report by the Treasury inspector general for Congress says the Obama administration's Troubled Asset Relief Program leans toward the private sector at a risk to taxpayers.
Open Open Tab April 21, 2009 Provides Information
Banking Behemoths Should Be Be Broken Up, Stiglitz Says
Banks and other financial institutions that are so big that their failure poses risks to the economy should be broken up, economist Joseph Stiglitz told lawmakers Tuesday.
Open Open Tab April 21, 2009 Provides Information
Geithner defends bank rescue program amid warnings
Treasury Secretary Timothy Geithner defended the bank rescue program devised by the Obama administration Tuesday as the International Monetary Fund predicted U.S. financial institutions could lose $2.7 trillion from the global credit crisis.
Open Open Tab April 21, 2009 Provides Information
Geithner: Hard to Set Prices on Toxic Assets
Treasury Secretary Timothy Geithner said on Tuesday that most U.S. banks have enough capital to keep lending but a pile of bad debts is fostering doubts about their health and slowing a recovery.
    April 21, 2009 Provides Information
Bank loss fears hit global shares
US and European shares have fallen sharply after the biggest bank in the US reported a big increase in the amount it needed to cover bad debt.
Open Open Tab April 20, 2009 Provides Information
Bank of America Beats the Street, Earns $4.25B
Bank of America on Monday became the latest financial firm to blow earnings expectations out of the water, though numerous caveats remain in its balance sheets.
Open Open Tab April 20, 2009 Provides Information
Treasury May Convert Some TARP Shares Into Common
Converting the government's preferred Troubled Asset Relief Program shares into common stock remains an option if stress tests determine that certain banks need more capital, a Treasury Department spokesperson said Monday.
Open Open Tab April 20, 2009 Provides Information
American Bankers Association Fed Up With TARP
The American Bankers Association, a banking advocacy group, is protesting the requirements imposed upon banks who want to return TARP money they received under the Capital Purchase Program.
Open Open Tab April 17, 2009 Provides Information
Banks race to repay aid, cling to other lifelines
Some financial firms see bailout money from Treasury as a ‘scarlet letter’
    April 17, 2009 Provides Information
BB&T Doesn't Want "Destructive" TARP Cash
BB&T, a large Southeast U.S. regional bank, said Friday it plans to repay its TARP funds as soon as possible, citing the negative perception and conditions that comes along with the bailout cash.
Open Open Tab April 17, 2009 Provides Information
Fannie Mae chief tapped to head U.S. bank rescue
Herb Allison, who has been chief executive of Fannie Mae since it was seized by the government last September, has been tapped to oversee the $700 billion financial rescue fund conceived to restore rattled markets, the White House said on Friday.
Open Open Tab April 17, 2009 Provides Information
Obama Nominates Allison To Head Key Treasury Office
President Barack Obama on Friday nominated Herbert Allison to be assistant secretary for financial stability at the Treasury Department. Allison would replace Neel Kashkari, the Bush administration's pick to head this post, a key position at the Treasury Department. Allison will be Treasury Secretary Timothy Geithner's point man on the government's bank bailout effort and other responses to the financial crisis.
Open Open Tab April 17, 2009 Provides Information
Risk Returns To Wall Street
First-quarter results show big banks getting back to business as usual. For now, at least.
Open Open Tab April 17, 2009 Provides Information
Fed Buys $1.5 Billion In Treasurys
The Federal Reserve Bank of New York bought $1.5 billion in Treasurys on Thursday, part of a program to improve conditions in private credit markets and spur lending. The debt bought included Treasury Inflation Protected Securities maturing between 2010 and 2032.
Open Open Tab April 16, 2009 Provides Information
Mall giant files for bankruptcy protection
General Growth Properties has stake in 200 shopping centers in 44 states
Open Open Tab April 16, 2009 Provides Information
Trapped In The TARP
Blunt as always, JPMorgan's Jamie Dimon says his bank is ready to be done with help from Uncle Sam.
Open Open Tab April 16, 2009 Provides Information
Swiss bank UBS to cut 8,700 jobs
Switzerland's biggest bank, UBS, has said it will seek to cut costs by shedding 8,700 jobs by next year.
Open Open Tab April 15, 2009 Provides Information
Treasurys Remain Down Slightly After Fed's Beige Book
Treasurys remained under slight pressure in mid-afternoon trade Wednesday, with their yields rising, after the Federal Reserve scattered signs that the pace of decline in the economy lessened in some regions in April. Yields on 30-year bonds rose 2 basis points to 3.675%, while those on benchmark 10-year notes were unchanged at 2.783%.
Open Open Tab April 15, 2009 Provides Information
Treasury Says Bank Lending Mostly Flat In February
The U.S. Treasury said on Wednesday that the biggest 21 banks in the country that are receiving government funds under the Capital Purchase Program made about as many loans in February as they did in January.
Open Open Tab April 15, 2009 Provides Information
U.S. to release bank stress data in May
Banks had been asked not to share results for fear of market turmoil
    April 15, 2009 Provides Information
Bank Of England Reverse Gilt Auction Attracts More Sellers
Sellers were more in abundance Tuesday as the Bank of England conducted another reverse auction of British government bonds, or gilts, as part of its quantitative easing program. Sellers offered a total of 9.426 billion pounds ($13.9 billion) worth of gilts, with the BOE purchasing just under 3 billion pounds, for a coverage ratio of 3.14 to 1, up from a coverage ratio of 1.87 to 1 in an auction of 3.5 billion pounds worth of gilts last week.
Open Open Tab April 14, 2009 Provides Information
Downturn Reaches Latin American Banks
But despite a tough economy, the region's biggest banks are set to report decent profits this year.
Open Open Tab April 14, 2009 Provides Information
Goldman Beats, Wants to Use Share Sale to Repay TARP
The guarded investment firm Goldman Sachs, now armed with the momentum of first-quarter results that solidly beat the Street’s expectations, may now have the ability to repay its $10 billion in TARP funds and return to its preferred place: out of the public’s spotlight.
Open Open Tab April 14, 2009 Provides Information
Signs of Economic Recovery Fuel Debate Over Federal Bailout Program
Some believe a normal business cycle accounts for the strong profit forecast from Wells Fargo and Goldman Sachs, a drop in unemployment benefit filings and several retailers predicting solid April sales.
Open Open Tab April 14, 2009 Provides Information
Goldman to Pay Back TARP Warrants; Other Banks Not So Lucky
Goldman Sachs on Monday said amid its earnings announcement that it wants to repay bailout money to the government -- and it may be in a better position than many other companies to do so, particularly as regards the warrants for preferred shares.
Open Open Tab April 13, 2009 Provides Information
Alliance Bank Seeks Standstill After It Stops Debt Payments
Alliance Bank , one of Kazakhstan's largest banks, said Monday that it is seeking a three-month standstill agreement with creditors after it stopped paying them because it found $1.1 billion of liabilities on its balance sheet that hadn't been properly recorded.
Open Open Tab April 13, 2009 Provides Information
Bailed-Out Banks Face Probe Over Fee Hikes
Banks bolstered by capital infusions from the government face intensified scrutiny from TARP's oversight committee following complaints about higher interest rates and fees to consumers.
Open Open Tab April 13, 2009 Provides Information
Bank Dies on Good Friday
Regulators closed the eight-branch bank Friday, which had deposits of $403 million and assets of $492 million. The bank’s deposits have been taken on by the Charleston, S.C.-based First Federal Savings and Loan Association of Charleston, which has also promised to purchase $468 million of Cape Fear’s assets.
Open Open Tab April 10, 2009 Provides Information
Boom Times For Bankers
Traditional lending helps Wells Fargo rake it in. Watch out for rising loan defaults.
Open Open Tab April 9, 2009 Provides Information
Wells Fargo expects record profit
US bank Wells Fargo has surprised investors by bucking the recession, saying it expects a record net profit.
Open Open Tab April 9, 2009 Provides Information
Fed Minutes: Need Asset Buys to Halt Economic Slide
The Federal Reserve was looking at no expected recovery this year and higher unemployment as it dramatically increased its intervention in financial markets last month, according to the minutes of its March 17 and 18 meeting released Wednesday.
    April 8, 2009 Provides Information
Life Insurers Could Get Aid From Treasury Bailout Program
The Treasury Department says only life insurers that own banks or saving and loans qualify for assistance.
Open Open Tab April 8, 2009 Provides Information
Treasurys Mixed, Fed Minutes Show Debate Over Amount To Buy
Ten-year note yields fell 3 basis points to 2.87%. Bond strategists had said they were interested in why the Fed opted to surprise markets after the March 18 meeting by saying, months before most expected, it would buy $300 billion in Treasurys in the next six months.
Open Open Tab April 8, 2009 Provides Information
Treasury says some insurers qualify for TARP
The U.S. Treasury said on Wednesday some life insurers have met requirements for government capital investments under an existing rescue plan, and their applications for funds are now being considered.
Open Open Tab April 8, 2009 Provides Information
RBS to cut a further 9,000 jobs
The Royal Bank of Scotland is to shed a further 9,000 jobs, half of them in the UK.
Open Open Tab April 7, 2009 Provides Information
Treasury Sells $6 Billion In Inflation-linked Debt At 1.589%
The Treasury Department sold $6 billion in Treasury Inflation Protected Securities, or TIPS, on Tuesday, at a yield of 1.589%. The sale garnered bids for $2.25 for every dollar available, compared to $2.48 at the last auction of 10-year TIPS in January. Indirect bidders, a class of investors that includes foreign central banks, bought 26.1% of the sale, compared to 47.2% at the last sale.
Open Open Tab April 7, 2009 Provides Information
Fed Buys $2.5 Billion In Long-term Treasurys
The Federal Reserve Bank of New York bought $2.5 billion in Treasurys on Monday, part of a program to improve conditions in private credit markets and spur lending. The debt bought included notes maturing between 2019 and 2026.
Open Open Tab April 6, 2009 Provides Information
Treasury Loosens Criteria for Toxic Asset Program
The Treasury Department relaxes a requirement that companies have at least $10 billion in capital under management in order to participate, and extends an application deadline.
Open Open Tab April 6, 2009 Provides Information
Bank bailout cost nearly doubles, agency says
Congressional Budget Office: Taxpayers will pay $1.67 billion more
Open Open Tab April 5, 2009 Provides Information
Bank Of America Pays $713 Million In TARP Dividends
Bank of America Corp. said Friday its board authorized the payment of $713 million in preferred share dividends to the U.S. Treasury's Troubled Asset Relief Program. In February, the bank paid out $402 million in dividends to the TARP.
Open Open Tab April 3, 2009 Provides Information
Bernanke: Fed 'Extremely Uncomfortable' About Bailouts
In remarks to a Fed conference in North Carolina, Ben Bernanke says the Fed was forced to take action because the collapse of those companies would have dealt a serious blow to the financial system and the broader economy.
Open Open Tab April 3, 2009 Provides Information
Senate Votes for Transparency of Fed Bailout Recipients
The amendment by Vermont Independent Bernie Sanders is nonbinding but calls for future legislation to force the Fed to reveal the names of the entities it has lent money to, how much they've received and what they are doing with the money.
Open Open Tab April 2, 2009 Provides Information
FDIC Head Says New Borrowing Authority Will Be a Big Help
Legislation that would allow the Federal Deposit Insurance Corp. to temporarily borrow as much as $500 billion for the agency's deposit insurance fund is likely to be approved shortly after a congressional break that ends April 20, said a key bank regulator on Wednesday.
Open Open Tab April 1, 2009 Provides Information
Fed Buys $6 Billion In Treasury Securities
Dealers submitted $16.95 billion in debt to be purchased. The Fed's next batch of purchases, of debt maturing between 2013 and 2016, will take place on Thursday, as it continues plans to buy $300 billion in Treasury securities over the next six months. Two-year note yields were little changed at 0.81% after the Fed released its results.
Open Open Tab April 1, 2009 Provides Information
House Passes Bill To Limit Bank Bailout CEO Pay Packages
The House on Tuesday approved legislation that would limit payments to executives at financial institutions receiving money from the government's $700 billion financial bailout package. The legislation was approved 236-175. Key Senate leadership has indicated they will study the house bills and contemplate whether they will approve this legislation or something similar.
Open Open Tab April 1, 2009 Provides Information
TARP Auditor: Taxpayers On the Hook for $3 Trillion So Far
Banks that have received federal aid are using the money as they see fit, in some cases providing new loans to customers, retiring debt or buying mortgage-backed securities, a chief investigator told Congress on Tuesday.
Open Open Tab April 1, 2009 Provides Information
Treasurys Reverse Gains After Fed Buys $6 Billion In U.S. De
Treasurys declined Wednesday, reversing earlier gains, after U.S. equities turned higher and the Federal Reserve bought $6 billion in U.S. securities. Ten-year note yields rose 1 basis point to 2.68%. Treasurys gave up the earlier small gains after a pair of economic reports showed manufacturing and pending home sales were a little better than some expected.
Open Open Tab April 1, 2009 Provides Information
Why some banks returned rescue money
TARP money comes with tight restrictions, so some banks are balking
Open Open Tab April 1, 2009 Provides Information
Bernie Madoff
Madoff Sentenced to 150 Years in Prison
Historic swindler Bernard Madoff was sentenced to 150 years in prison Monday for a fraud so extensive that the judge said he needed to send a symbolic message to potential imitators and to victims who demanded harsh punishment.
Open Open Tab June 29, 2009 Provides Information
U.S. prosecutors seek life term for Madoff
Swindler Bernard Madoff should receive a sentence that ensures he will spend the rest of his life in prison for running Wall Street's biggest investment fraud, U.S. prosecutors argued on Friday.
Open Open Tab June 26, 2009 Provides Information
Pain continues for cash-strapped Madoff victims
Bernard Madoff will learn Monday whether he will spend the rest of his life in prison.
Open Open Tab June 28, 2009 Provides Information
Madoff Lawyer Asks for Leniency
Bernard L. Madoff’s lawyer has asked the judge who will sentence the jailed Ponzi scheme mastermind to show leniency.
Open Open Tab June 23, 2009 Provides Information
Madoff's Little Helpers
SEC charges execs of feeder firm and L.A. broker with fraud for funneling investors' money into Ponzi scheme.
Open Open Tab June 22, 2009 Provides Information
Ex-Billionaire Madoff Victim Seeks Funds From Goldman
Stanley Chais, a former billionaire who fell victim to Bernard Madoff’s Ponzi scheme, has written a letter accusing Goldman Sachs (GS: 142.92, 3.38, 2.42%) of failing to comply with agreements to release funds.
Open Open Tab June 18, 2009 Provides Information
SEC Pores Over How it Missed the Madoff Fraud
An investigation by the inspector general of the Securities and Exchange Commission into how the SEC missed Bernie Madoff’s $65 billion ponzi scheme has reached deep into the agency, a new report shows.
Open Open Tab June 1, 2009 Provides Information
Trustee Announces $235M Settlement With Madoff's Assets
The trustee overseeing liquidation of Bernard L. Madoff’s assets announced a $235 million settlement Tuesday with an investment firm that did business with the jailed Ponzi scheme mastermind.
Open Open Tab May 26, 2009 Provides Information
Court Filing Offers Window Into Madoff's Life of Luxury
Convicted fraudster Bernard Madoff turned his investment firm into his personal “piggy bank,” spending millions in client money to bankroll shopping sprees, real estate purchases and country club memberships for his family and close friends.
Open Open Tab May 8, 2009 Provides Information
Madoff’s Market-Making Firm Sold
The remnants of Bernard L. Madoff’s legitimate market-making firm have been sold for an amount that could reach $25.5 million.
Open Open Tab April 28, 2009 Provides Information
How Bernie Madoff did it
Madoff is behind bars and isn't talking. But a Fortune investigation uncovers secrets of his massive swindle.
Open Open Tab April 24, 2009 Provides Information
More Bidders Emerge for Madoff Trading Firm
The court-appointed trustee overseeing the liquidation of Bernard L. Madoff’s assets has received three additional bids for the jailed Ponzi schemer’s shuttered market-making business.
Open Open Tab April 23, 2009 Provides Information
Progress Is Made in Recovering Madoff Assets
Authorities charged with recovering assets from Bernard L. Madoff’s collapsed pyramid scheme were at work on two fronts Monday.
Open Open Tab April 20, 2009 Provides Information
Merkin Was Warned About Madoff in the Early 1990s
Documents released by a judge on Friday related to New York University’s lawsuit against financier J. Ezra Merkin show that Merkin was warned as far back as 1992 that Bernard L. Madoff might not be what he appeared.
Open Open Tab April 17, 2009 Provides Information
Connecticut Town Sues Madoff to Recoup Pension Fund Losses
The town of Fairfield, Conn., on Monday took significant legal strides toward recouping at least some of the $42 million it lost to Bernard L. Madoff’s massive Ponzi scheme.
Open Open Tab April 13, 2009 Provides Information
Madoff's Mets Tickets Up for Grabs
New York Mets season ticket holder Bernard L. Madoff is in jail and won’t be able to make it to the team’s home opener on April 13 at brand new Citi Field.
Open Open Tab April 8, 2009 Provides Information
Madoff trading division close to being sold
About $15 million for a division Madoff valued at $700 million
Open Open Tab April 7, 2009 Provides Information
Merkin Charged With Fraud for Steering Money Into Madoff's Scheme
Financier J. Ezra Merkin was charged Monday with fraud by the New York Attorney General’s Office for his role in steering billions of dollars of investors’ funds into Bernard L. Madoff’s massive Ponzi scheme.
Open Open Tab April 6, 2009 Provides Information
Best Buy
Best Buy Names Brian Dunn Chief Executive
Best Buy Co. said Wednesday it officially named Brian Dunn chief executive. Dunn, 49, was also appointed to the board. The 24-year Best Buy veteran was formerly president and chief operating officer.
Open Open Tab June 24, 2009 Provides Information
Best Buy Reduces UK Retail Plans to 80 Stores
Big-box retailer's joint venture with Carphone Warehouse originally called for "a hundred or so" stores in the UK by 2013.
Open Open Tab May 13, 2009 Provides Information
Best Buy Cut To Sell By Pali Capital
Best Buy Co. was cut to sell from neutral by Pali Capital on Tuesday. Analyst Stacey Widlitz said March consumer electronics sales, after showing an improving trend in January and February, were the worst since December.
Open Open Tab April 14, 2009 Provides Information
Bonds and Treasury Notes
Treasury Sells $27 Billion In 7-yr Debt At 3.329%
The Treasury Department sold $27 billion in 7-year notes on Thursday at a yield of 3.329%. Bidders offered $2.82 for every dollar of debt sold, compared to an average of $2.29 in the last four sales of the securities. Indirect bidders bought 67.2%, compared to an average of 33.2% of the last four sales.
Open Open Tab June 25, 2009 Provides Information
Treasury Sells 5-year Notes At 2.70%
The Treasury Department sold a record $37 billion in 5-year notes on Wednesday at a yield of 2.70%. Bidders offered $2.58 for every dollar of debt being sold, compared to the average of $2.19 at the last four sales. Indirect bidders, a class of investors that includes foreign central banks, bought 62.8%, compared to an average of 38.5%. Analysts are closely watched the government's three sales this week for signals of whether investors are still willing to buy U.S. debt.
Open Open Tab June 24, 2009 Provides Information
Capital One Selling $1.5 Billion In Bonds
Capital One Financial is expected to sell $1.5 billion in bonds on Thursday, according to Informa Global Markets. The bank holding company is selling 10-year notes, which may price at 5 percentage points above benchmark Treasurys of the same maturity .
Open Open Tab June 18, 2009 Provides Information
Treasury To Sell $104 Billion In Notes Next Week
The Treasury Department said Thursday it plans to sell $104 billion in short- and medium-term debt next week. It will auction $40 billion 2-year notes on Tuesday and $37 billion in 5-year notes the following day. Finally, $27 billion in 7-year notes will end the note auctions on Thursday.
Open Open Tab June 18, 2009 Provides Information
Fed Buys $7 Billion In Treasurys
The Federal Reserve Bank of New York bought $7 billion in Treasurys maturing between 2016 and 2019 on Wednesday, the last of two operations this week. Dealers offered $26.2 billion to be purchased. Traders expected the central bank to buy between $6.5 billion and $7 billion, in line with past purchases in this maturity range.
Open Open Tab June 17, 2009 Provides Information
Freddie Mac Prices New Five-year Reference Notes
Freddie Mac said Wednesday it priced $3 billion in five-year Reference Notes at a yield of 3.054%. The issue priced at 99.743, or 41.3 basis points more than five-year U.S. Treasury notes.
Open Open Tab June 17, 2009 Provides Information
Fed Buys $6.45 Billion In Treasurys
The Federal Reserve Bank of New York bought $6.45 billion in Treasurys maturing between 2012 and 2103 on Tuesday, the first of two operations this week. Dealers offered $31.316 billion to be purchased.
Open Open Tab June 16, 2009 Provides Information
Treasury Sells 30-year Bonds At 4.72%
The Treasury Department sold $11 billion in 30-year notes on Thursday to yield 4.72%. The auction is a reopening, meaning the debt sold will mature on the same date and carry the same coupon as the previous sale.
Open Open Tab June 11, 2009 Provides Information
Fed Buys $3.5 Billion In Treasurys
The Federal Reserve Bank of New York bought $3.5 billion in Treasurys maturing between 2019 and 2026 on Wednesday, the second operation this week and the latest in the central bank's attempts to keep a lid on borrowing costs and spur economic activity. Dealers offered $10.979 billion to be purchased.
Open Open Tab June 10, 2009 Provides Information
Treasury Sells $40 Billion In 2-year Notes At 0.94
The Treasury Department sold $40 billion in 2-year notes on Tuesday to yield 0.940%, marking the first of three large note auctions this week totaling $101 billion.
Open Open Tab May 26, 2009 Provides Information
Fed Buys $1.55 Billion In Treasurys
The Federal Reserve Bank of New York bought $1.55 billion in Treasury Inflation Protected Securities maturing between 2010 and 2032 on Tuesday, the latest in the central bank's program to keep borrowing costs lower and spur economic activity.
Open Open Tab May 26, 2009 Provides Information
Fed Buys $7.699 Billion In Treasurys
The Federal Reserve Bank of New York bought $7.699 billion in Treasurys maturing between 2016 and 2019 on Wednesday, the latest in the central bank's program to keep borrowing costs lower and spur economic activity.
Open Open Tab May 20, 2009 Provides Information
State Street Prices $500 Mln In Notes
State Street expects proceeds of $498 million from the offering of 4.30% senior notes due May 30, 2014.
Open Open Tab May 19, 2009 Provides Information
Fed Buys $2.975 Billion In Treasurys
The Federal Reserve Bank of New York bought $2.975 billion in Treasurys maturing between 2010 and 2011 on Thursday.
Open Open Tab May 14, 2009 Provides Information
Fed Buys $6 Billion In Treasurys
The Federal Reserve Bank of New York bought $6.007 billion in Treasurys maturing between 2012 and 2013 on Tuesday.
Open Open Tab May 12, 2009 Provides Information
Fed Buys $3.51 Billion In Treasurys
The Federal Reserve Bank of New York bought $3.51 billion in Treasurys maturing between 2026 and 2039 on Monday.
Open Open Tab May 11, 2009 Provides Information
Congress Considers Federal Insurance on Muni Bonds
Congressional Democrats are working on measures to offer government insurance for municipal bonds and may introduce a bill as early as next week, people familiar with the situation tell FOX Business.
Open Open Tab May 8, 2009 Provides Information
Fed Buys $6.95 Billion In Treasurys
The Federal Reserve Bank of New York bought $6.948 billion in Treasurys on Wednesday, part of its program aimed at improving conditions in private credit markets and spurring lending. The debt bought included notes maturing between 2011 and 2012.
Open Open Tab May 6, 2009 Provides Information
Fed Buys $8.5 Billion In Treasurys
The Federal Reserve Bank of New York bought $8.5 billion in Treasurys on Monday, its biggest purchase to date under its program aimed at improving conditions in private credit markets and spurring lending. The debt bought included notes maturing between 2016 and 2019.
Open Open Tab May 4, 2009 Provides Information
Treasurys Slip After Housing Data
Treasury prices headed lower Monday, as a private group said pending home sales rose 3.2% in March, higher than some analysts expected and buoying hopes that the housing downturn may be ending.
Open Open Tab May 4, 2009 Provides Information
Treasury Sells 7-year Notes At 2.630%
The Treasury Department sold $26 billion in 7-year securities on Wednesday to yield 2.630%. The government began reissuing 7-year notes in February, after a 16-year hiatus.
Open Open Tab April 29, 2009 Provides Information
Fed Bought $7.025 Billion In Short-term Treasurys
The Federal Reserve Bank of New York bought $7.025 billion in Treasurys maturing in 2013 and 2016 on Monday, its latest operation to support the bond market and keep yields low to encourage borrowing. Dealers submitted $23.39 billion to be purchased.
Open Open Tab April 27, 2009 Provides Information
Treasury To Sell $361 Billion In Current Quarter
The U.S. Treasury Department said Monday it expects to issue $361 billion in debt in its second quarter, almost double what it estimated three months ago. The increase is due to continued financing for the Federal Reserve's multiple programs to ease strains in the credit markets, government spending to spur economic growth, and lower tax receipts.
Open Open Tab April 27, 2009 Provides Information
Fed Bought $7 Billion In Short-term Treasurys
The Federal Reserve Bank of New York bought $7 billion in Treasurys maturing in 2012 and 2013 on Thursday, its latest operation to support the bond market and keep yields low to encourage borrowing. Dealers submitted $15.99 billion to be purchased.
Open Open Tab April 23, 2009 Provides Information
Treasury To Sell $101 Billion In Bonds Next Week
 
Open Open Tab April 23, 2009 Provides Information
J.P. Morgan Sells First Bonds With No U.S. Aid Since June
J.P. Morgan Chase & Co. on Thursday sold $3 billion in 10-year senior notes with no guarantee from the FDIC, the first time since June that the banking company has issued dollar-denominated bonds without backing from a government program designed to help banks sell their debt.
Open Open Tab April 16, 2009 Provides Information
Fed Buys $7 Billion In Treasurys
The Federal Reserve Bank of New York bought $7 billion in Treasurys on Tuesday, part of a program aimed at improving conditions in private credit markets and spurring lending. The debt bought included notes maturing between 2016 and 2019.
Open Open Tab April 21, 2009 Provides Information
Fed Buys $7.3 Billion In Treasury Bonds
The Federal Reserve Bank of New York bought $7.3 billion in Treasurys on Tuesday, part of a program to improve conditions in private credit markets and spur lending. The debt bought included notes maturing between 2013 and 2016.
Open Open Tab April 14, 2009 Provides Information
Fed Buys $7.37 Billion In Treasurys
The Federal Reserve Bank of New York bought $7.37 billion in Treasurys on Monday, part of a program to improve conditions in private credit markets and spur lending. The debt bought included notes maturing between 2011 and 2012. Dealers submitted $26.6 billion in debt to be purchased.
Open Open Tab April 13, 2009 Provides Information
Treasury Sells $18 Billion In 10-year Notes At 2.950%
The Treasury Department sold $18 billion in 10-year notes on Thursday at a yield of 2.950%. The sale garnered bids for $2.49 for every dollar available, compared to an average of $2.39 at the last five reopenings of 10-year notes , meaning the debt sold carries the same coupon and maturity as the original bonds, in this case issued in February.
Open Open Tab April 9, 2009 Provides Information
Fed Buys $2.9 Billion In Treasurys
Dealers submitted $31.3 billion in debt to be purchased. The Fed will continue its buybacks next week, heading towards purchasing $300 billion in Treasury securities over the next six months. Two-year note yields were little changed at 0.92%.
Open Open Tab April 8, 2009 Provides Information
Treasury Sells $35 Billion In 3-year Notes At 1.385%
The Treasury Department sold a record amount of $35 billion in 3-year notes on Wednesday at a yield of 1.385%. The sale garnered bids for $2.42 for every dollar available, compared to an average of $2.32 at the last four monthly auctions. Indirect bidders, a class of investors that includes foreign central banks, bought 38.5% of the sale, compared to 37.1% on average in the last four sales.
Open Open Tab April 8, 2009 Provides Information
Buyouts - Take Overs - Mergers - Sales
Barclays Accepts BlackRock Bid For BGI
British banking giant Barclays on Tuesday said its board has accepted BlackRock Inc.'s $13.5 billion offer to buy Barclays Global Investors. Barclays plans to recommend the transaction for shareholder approval at a general meeting to be held in early August.
Open Open Tab June 16, 2009 Provides Information
EMC Offers $1.8 Billion For Data Domain
EMC Corp. on Monday offered $1.8 billion to acquire Data Domain Inc. , trumping a May 20 offer by NetApp Inc. of $1.5 billion for the backup and disaster recovery systems company.
Open Open Tab June 1, 2009 Provides Information
Dow Chemical To Sell $935 Mln In Assets
Dow Chemical Co. said Wednesday it agreed to sell its calcium chloride business, and its joint-venture interest in Total Raffinaderij Nederland N.V., for about $935 million.
Open Open Tab May 20, 2009 Provides Information
Morgan Stanley Selling Remaining Stake In MSCI
Morgan Stanley said late Monday that it's selling its remaining stake in index firm MSCI Inc..
Open Open Tab May 18, 2009 Provides Information
AT&T to buy territories from Verizon for $2.35B
AT&T Inc. said Friday it will buy the assets of Verizon Wireless in 79 mainly rural areas for $2.35 billion, a deal that will affect more than 1 million subscribers.
Open Open Tab May 11, 2009 Provides Information
Disney Joins Hulu As Equity Partner
Walt Disney Co. has taken a stake in the increasingly popular streaming video Web site Hulu, and will make full-length episodes of such shows as "Lost," "Grey's Anatomy," and "Desperate Housewives" available for ad-supported viewing, the company said Thursday.
Open Open Tab April 30, 2009 Provides Information
Time Warner may or may not spin off AOL, says SEC filing
Despite reports this morning linking to more reports saying Time Warner said something, a review of the English language indicates otherwise.
Open Open Tab April 30, 2009 Provides Information
Can a Merger Make You Recession-Proof?
Mergers cut expenses and expand potential clientele, which is just what many integrators need right now.
Open Open Tab April 22, 2009 Provides Information
AIG selling car insurance unit for $1.9 billion
Sale to Zurich Financial is part of massive restructuring of bailed-out giant
Open Open Tab April 16, 2009 Provides Information
Total Raises Offer For UTS Energy To C$1.75 Cash Per Share
Total E&P Canada Ltd., a wholly-owned subsidiary of French oil giant Total S.A. , said Monday that it has increased its offer to acquire all of UTS Energy Corp. , a Canadian oil sands company, from C$1.30 cash per share to C$1.75 cash per share.
Open Open Tab April 13, 2009 Provides Information
Ariel Raises Gannett Stake To 12.5%
The shares were worth about $82.1 million based on Thursday's opening price of $2.85. The stock rose $1.06, or 40%, to close at $3.75 on Thursday. Gannett is the largest U.S. newspaper publisher. It also owns more than 20 television stations.
Open Open Tab April 9, 2009 Provides Information
Credit Cards
American Express Card Write-offs Hold Steady
American Express Co. in a filing Monday said its credit-card business saw net write-offs fall slightly in May to 10.3% from 10.4% the previous month. The company said during May, it sold to third parties certain cardmember loans that had been previously written off.
Open Open Tab June 15, 2009 Provides Information
Weak security enables credit card hacks
Every time you swipe your credit card and wait for the transaction to be approved, sensitive data including your name and account number are ferried from store to bank through computer networks, each step a potential opening for hackers.
Open Open Tab June 14, 2009 Provides Information
Consumer borrowing plunges by $15.7B in April
Borrowing by consumers fell by $15.7 billion in April as U.S. households continued to trim spending and put away their credit cards amid a severe recession.
Open Open Tab June 5, 2009 Provides Information
American Express Delinquencies Stabilizing:CEO
American Express Chief Executive Kenneth Chenault said Wednesday that the firm's card delinquencies are stabilizing in the second quarter, and that he expects less consumer demand for lending when the current credit crisis passes.
Open Open Tab June 3, 2009 Provides Information
Deducting Credit Card Theft Loss
My credit cards were stolen. I lost $14,841. Can I claim it as a deduction for income tax?
    June 3, 2009 Provides Information
JP Morgan Moving To Visa From MasterCard
MasterCard Inc. will lose half of its $59 billion U.S. debit-card portfolio as J.P. Morgan Chase & Co. seeks to shift more business to Visa Inc. , Bloomberg News reported Friday on its Web site, citing two sources familiar with the plans.
Open Open Tab May 22, 2009 Provides Information
Obama Set to Approve New Rules for Credit Cards
President plans to sign on Friday an overhaul of credit card regulations that he blames in part for the economic downturn.
Open Open Tab May 22, 2009 Provides Information
Obama to Sign U.S. Credit Card Crackdown Into Law
President Barack Obama was expected to sign into law Friday a package of sweeping new limits on credit card interest rates and fees that won final approval from the U.S. Congress on Wednesday.
    May 20, 2009 Provides Information
Senate Passes Credit-Card Reform Bill by Vote of 90-5
Credit card reform legislation aimed at protecting consumers passed overwhelmingly in the Senate on Tuesday.
Open Open Tab May 19, 2009 Provides Information
Obama continues push for credit card bill
President Barack Obama says changing the way credit card companies bill customers is critical to fixing the nation's ailing economy.
Open Open Tab May 14, 2009 Provides Information
Senators Reach Bipartisan Deal On Credit-card Bill
Senate leaders have reached a bipartisan compromise on credit-card-reform legislation that the full chamber could vote on this week.
Open Open Tab May 11, 2009 Provides Information
Obama Pushes Congress to Send Credit Card Legislation by Memorial Day
President says consumers have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all-too common
Open Open Tab May 9, 2009 Provides Information
DARPA to develop anti-Credit Crunch software
Ain't no more horses gettin' outa that stable
Open Open Tab May 7, 2009 Provides Information
Card Unit Most Stressed At J.P. Morgan: CEO Dimon
J.P. Morgan Chase Chief Executive Jamie Dimon said Monday that the firm's credit card operations are its most stressed business.
Open Open Tab May 4, 2009 Provides Information
Fed Asked To OK Emergency Credit-card Rate Freeze
Two leading Democratic senators asked federal regulators on Thursday to implement an emergency freeze on credit-card interest rates for existing balances.
Open Open Tab April 23, 2009 Provides Information
Obama hosting credit-card CEOs, pledges new rules
President Barack Obama is pushing to rein in costs for millions of Americans who use credit cards, an appeal to consumers as many struggle to pay their bills.
Open Open Tab April 23, 2009 Provides Information
Credit card bill tests Democrats' political will
A Congressional panel is expected to approve legislation on Wednesday that would curb high credit card fees and penalties assessed by many banks that have benefited from the federal government's financial bailout program.
Open Open Tab April 22, 2009 Provides Information
Credit Card Industry Called to White House Meeting
Concern about credit-card lending practices has led to plans by the Obama Administration for a meeting next Thursday, April 23, with top industry executives.
Open Open Tab April 16, 2009 Provides Information
Credit-card Stocks Getting Ahead Of Themselves: Stifel
Analysts at Stifel Nicolaus on Tuesday cut their ratings on a trio of credit-card stocks, saying the recent rally has been overdone and that the shares are overvalued. Stifel downgraded shares of American Express Co. to sell, while Capital One Financial Corp. and Discover Financial Services were lowered to hold.
Open Open Tab April 14, 2009 Provides Information
Credit-card Debt Shrinks At Fastest Pace In 31 Years
Total outstanding consumer credit, including both revolving and nonrevolving credit, fell at a 3.5% annual rate, or $7.5 billion to a seasonally adjusted $2.56 trillion, the Fed said. Credit expanded by a revised $8.1 billion, or 3.8%, in January.
Open Open Tab April 7, 2009 Provides Information
Credit Card Rules Moving Forward In Congress
A House panel moved Thursday to provide credit card holders with more relief from abusive rate and billing practices.
Open Open Tab April 2, 2009 Provides Information
Credit Markets
Bernanke sees 'tentative signs' of improvement
But Fed chief warns any lasting recovery depends on easing credit clog
Open Open Tab April 14, 2009 Provides Information
Credit Rating
Fitch Downgrades California To A-minus
Fitch Ratings downgraded the California's general obligation credit rating on Thursday to A-minus from A, based on the magnitude of the state's financial challenges and persistent weakening economy. The state's finances will continue to be strained through fiscal year 2010 and beyond regardless of any likely outcome to the current budget impasse, Fitch analysts said in a report.
Open Open Tab June 25, 2009 Provides Information
U.S. credit rating a "solid triple-A": Moody's
Moody's Investors Service said on Tuesday that the U.S. government's triple-A credit rating was safe but added that it could be at risk if Washington were unable to bring its public debt back to a downward trajectory.
Open Open Tab June 23, 2009 Provides Information
Moody's May Downgrade California 'A2' Rating
Moody's Investors Service said Friday it may downgrade California's debt ratings because of the state's ongoing budget crisis. Moody's has an 'A2' general obligation rating on the state.
Open Open Tab June 19, 2009 Provides Information
S&P Downgrades E-Trade Rating Further Into Junk
Standard & Poor's said Friday it downgraded E-Trade Financial Corp. further into junk territory because of a recently announced $400 million common equity offering and a debt exchange for two issues of long-term debt. S&P lowered E-Trade's long-term counterparty credit rating to CC from CCC-.
Open Open Tab June 19, 2009 Provides Information
S&P Downgrades Daimler On Auto-market Weakness
Standard & Poor's said Thursday it cut the long-term corporate credit rating on Daimler AG because of eroding sales. S&P downgraded Daimler's long-term corporate credit rating to BBB+ from A-, but affirmed the A-2 short-term rating. The outlook is negative.
Open Open Tab June 18, 2009 Provides Information
Moody's May Downgrade Sotheby's Ratings
Moody's Investors Service on Wednesday placed Sotheby's long-term ratings on review for possible downgrade, including its corporate family rating of Ba2.
Open Open Tab June 17, 2009 Provides Information
ConAgra Downgraded At Citigroup
ConAgra Foods Inc. , one of the biggest stock gainers in the food sector this year, was downgraded Monday at Citigroup. ConAgra shares fell 4% to $18.62 in midmorning trading. Analyst David Driscoll cut the stock to hold from buy due to the recent explosion at ConAgra's North Carolina plant that makes Slim Jim.
Open Open Tab June 15, 2009 Provides Information
Moody's May Downgrade UBS
Moody's Investors Service on Monday placed UBS Ag's long-term debt and deposit ratings on review for possible downgrade. Moody's also placed UBS' B- bank financial strength rating on review but affirmed its Prime-1 rating on the financial firm's short-term obligations.
Open Open Tab June 15, 2009 Provides Information
S&P Raises Lincoln National's Outlook To Stable
Standard & Poor's Ratings Services on Monday raised its outlook on Lincoln National Corp. and its insurance operations to stable from negative.
Open Open Tab June 15, 2009 Provides Information
S&P Cuts BlackRock Rating On Barclays Deal
Standard & Poor's said Friday it lowered its ratings on BlackRock Inc. following the firm's announced purchase of Barclays Global Investors for $13.5 billion in cash and stock. S&P cut BlackRock's counterparty credit rating to A+/A-1 from AA-/A-1+.
Open Open Tab June 12, 2009 Provides Information
S&P Lowers CIT Group Rating, May Cut Further
Standard & Poor's said Friday it lowered the counterparty credit rating of CIT Group Inc. to BB-/B from BBB-/A-3, and may downgrade it further. S&P also lowered CIT's hybrid capital instruments rating to CCC+ from B+.
Open Open Tab June 12, 2009 Provides Information
Moody's Upgrades GMAC To 'Ca'
Moody's Investors Service on Wednesday raised GMAC LLC's senior unsecured rating to Ca from C and placed its ratings on review for further possible upgrade.
Open Open Tab June 10, 2009 Provides Information
Moody's Revises Coca-Cola's Outlook To Stable
Moody's on Monday changed the outlook for Coca-Cola Co. and its guaranteed subsidiaries to stable from negative and affirmed its Aa3 rating. Moody's noted the revision reflects the relative stability of the company's results and credit metrics over the last several years and through the current turbulent economic period.
Open Open Tab June 8, 2009 Provides Information
S&P Puts Latvia's Ratings On Negative Credit Watch
Standard & Poor's placed Latvia's BB+ long-term rating on credit watch with negative implications on Monday, citing increased pressure on the sovereign's currency in the near term.
Open Open Tab June 8, 2009 Provides Information
S&P Cuts CBS Corp. Rating On Revenue Weakness
Standard & Poor's said Friday it downgraded CBS Corp.'s corporate credit rating to BBB- from BBB. The rating outlook is negative. "The ratings downgrade is based on our concern that the company's efforts thus far to rein in leverage through cost and dividend reductions have been more than offset by revenue weakness," said Heather Goodchild, an S&P credit analyst, in a statement.
Open Open Tab June 5, 2009 Provides Information
S&P May Upgrade Rio Tinto On Rights Issue
Standard & Poor's said Friday it may upgrade its rating on mining giant Rio Tinto PLC because it decided to pursue a $15 billion rights issue rather than sell an 18% stake to state-owneed Aluminum Corp. of China. S&P has BBB corporate credit and debt ratings on Rio Tinto.
Open Open Tab June 5, 2009 Provides Information
RUSNANO Gets International Credit Rating
At RUSNANO's request, Standard & Poor’s has issued international credit ratings for the Corporation. The Agency's Rating Service assigned a long-term BB+ credit rating, a ruAA+ Russian scale rating, and stated that the outlook is negative. Such a forecast for RUSNANO’s ratings reflects the outlook on Russia’s* sovereign rating and will depend on its dynamics in the future.
Open Open Tab June 4, 2009 Provides Information
Some Debts Stain Credit Report for Years
We went through bankruptcy, and we were told that items that were co-signed by my mom would no longer be in my name, just hers.
Open Open Tab June 2, 2009 Provides Information
Moody's Affirms US 'AAA' Rating Despite Rising Debt
Moody's Investors Service on Wednesday affirmed the AAA credit rating of the United States, assuaging fears about U.S. creditworthiness that have been creeping up in financial markets.
Open Open Tab May 27, 2009 Provides Information
Fitch Cuts McClatchy To 'C' On Debt Exchange Offer
Fitch Ratings on Thursday downgraded McClatchy Co.'s issuer default rating to C from CCC following the announcement of its debt exchange offer for $1.15 billion of unsecured debt.
Open Open Tab May 21, 2009 Provides Information
UK risks losing AAA rating
Britain risks losing its precious triple-A credit rating because of the danger that government debt may soar close to 100 percent of GDP, and uncertainty over policy before an election due by next year.
Open Open Tab May 21, 2009 Provides Information
Fitch Ups Boston Scientific Outlook On Improvement
Fitch Ratings said Tuesday that it raised its ratings outlook on heart devices maker Boston Scientific Corp. to positive from stable because of success in improving its core businesses.
Open Open Tab May 19, 2009 Provides Information
Moody's Raises Outlook For Teva, Mylan
Moody's Investors Service on Monday raised the ratings outlook of both Teva Pharmaceuticals Industries Ltd. and Mylan Laboratories Inc. to positive from stable because of strong performance from the makers of generic drugs.
Open Open Tab May 18, 2009 Provides Information
Fitch Lowers Ratings On AIG, Subsidiaries
Fitch Ratings said Friday it downgraded several American International Group Inc. ratings because of the firm's financial difficulties.
Open Open Tab May 15, 2009 Provides Information
Fitch May Downgrade Nine U.S. Banks
Fitch Ratings on Friday placed nine U.S. banks on Rating Watch Negative: BB&T Corp. , Discover Financial Services , Fifth Third Bancorp , KeyCorp , M&T Bank Corp. , Popular Inc. , Regions Financial Corp. , SunTrust Banks Inc. and Wells Fargo & Co. .
Open Open Tab May 15, 2009 Provides Information
Moody's Ups Wells Fargo's Preferred Stock Rating
Moody's Investors Service on Thursday upgraded Wells Fargo & Co.'s preferred stock rating to Ba3 from B2 and raised the bank financial strength rating on Wells Fargo's subsidiaries to C- from D+.
Open Open Tab May 14, 2009 Provides Information
Fitch Upgrades MGM To 'CCC'; S&P May Upgrade
Fitch Ratings said Wednesday it upgraded MGM Mirage's issuer default rating to CCC from C because the casino operator amended its credit facility and plans to raise capital. Separately, Standard & Poor's said that it may upgrade its CCC rating of MGM.
Open Open Tab May 13, 2009 Provides Information
Moody's Cuts Starbucks Rating To 'Baa3'
Moody's Investors Service on Wednesday lowered the rating on Starbucks Corp.'s $550 million senior unsecured notes to Baa3 from Baa2 and its short-term commercial paper rating to Prime-3 from Prime-2.
Open Open Tab May 13, 2009 Provides Information
Moody's May Cut Leggett & Platt's Rating
Moody's Investors Service on Tuesday placed Leggett & Platt's A3 long-term debt rating on review for possible downgrade due to the ongoing deterioration in consumer spending.
Open Open Tab May 12, 2009 Provides Information
S&P Lowers Outlook On Mexico To Negative
Standard & Poor's Ratings Services said late Monday it has revised its outlook on Mexico to negative from stable, citing deterioration of the country's fiscal and external positions.
Open Open Tab May 11, 2009 Provides Information
S&P Cuts British Airways To 'BB' On Weak Outlook
Standard & Poor's Ratings Services on Friday lowered British Airways PLC's long-term corporate credit rating to BB from BB+ due to expectations of a significant worsening in the trading outlook for the British airline.
Open Open Tab May 8, 2009 Provides Information
Fitch Removes Northern Trust From Rating Watch
Fitch Ratings on Tuesday removed the issuer default rating of Northern Trust Corp. from rating watch negative. Northern Trust "has raised sufficient sources of cash at the parent to provide a high level of financial flexibility to meet expected needs and allow for unexpected events," Fitch said in a statement.
Open Open Tab April 28, 2009 Provides Information
Fitch, S&P Downgrade CIT Group
Fitch Ratings and Standard & Poor's downgraded CIT Group Inc. on Friday because of weakening asset quality and poor earnings.
Open Open Tab April 24, 2009 Provides Information
Moody's Downgrades American Express On Revenue
Moody's Investors Service downgraded the long-term and short-term ratings of American Express Co. because of weaker revenue trends.
Open Open Tab April 24, 2009 Provides Information
Ford Shares Rally On Goldman Upgrade
Ford Motor Co. shares jumped more than 12% to $4.26 on Wednesday after Goldman Sachs upgraded the stock to buy from neutral with a price target of $6 a share.
Open Open Tab April 22, 2009 Provides Information
Fifth Third Shares Hit By Downgrade, Fine
Despite a higher open Tuesday, volatile shares of Fifth Third Bancorp traded sharply to the downside after the company was hit by a regulatory fine as well as a downgrade from Moody's Investors Service. The Financial Industry Regulatory Authority on Tuesday said it fined Fifth Third $1.75 million for violations related to variable annuity sales and exchanges.
Open Open Tab April 14, 2009 Provides Information
Moody's Cuts SocGen's Bank Financial Strength Rating
Moody's Investor Services on Tuesday lowered Societe Generale's bank financial strength rating to C+ from B- and affirmed its long-term debt and deposit ratings at Aa2. The downgrade of Societe Generale's bank financial strength rating reflects the reduction of the bank's operating efficiency and the volatility of its reported net profitability in line with market fluctuations.
Open Open Tab April 14, 2009 Provides Information
S&P Cuts Alliance Bank's Ratings To Selective Default
Standard & Poor's Ratings Services lowered on Tuesday its long- and short-term counterparty credit ratings on Kazakhstan-based Alliance Bank JSC to selective default (SD: 8.53, 0.03, 0.35%) from CC/C after the bank failed to make a payment on one of its financial obligations.
Open Open Tab April 14, 2009 Provides Information
S&P Raises Sirius XM Ratings On Near-term Liquidity
Standard & Poor's said late Tuesday it raised its corporate credit rating on Sirius XM Radio Inc. and XM Satellite Radio Holdings Inc. to CCC+ from CCC.
Open Open Tab April 14, 2009 Provides Information
Limited, Abercrombie Lead Sector Drops
Limited Brands Inc. and Abercrombie & Fitch Co. both declined Monday after their stocks were downgraded, leading drops in the retail sector. The S&P retail index fell 1% to 325.49.
Open Open Tab April 13, 2009 Provides Information
Moody's Downgrades Ambac On Risk, Increased Loss Estimates
Moody's Investors Service said late Monday it downgraded the insurance financial strength ratings of Ambac Inc.'s Ambac Assurance Corp. and Ambac Assurance UK Ltd. to junk status. Moody's cut the ratings to Ba3 from Baa1.
Open Open Tab April 13, 2009 Provides Information
S&P Raises Credit Rating on Ford
The rating agency Standard & Poor’s raised the credit rating of Ford Motor Co. (F: 4.26, 0.04, 0.95%) by one notch on Monday, saying that the company’s credit profile, while still very risky, was better than its nearly-bankrupt competitors.
Open Open Tab April 13, 2009 Provides Information
S&P May Downgrade Boeing On Curbed Production, Charge
Standard & Poor's said Friday it may downgrade its ratings on Boeing Co. and its financing arm Boeing Capital Corp. after the aircraft maker said it would curb production on some commercial jets and take a hefty first-quarter charge.
Open Open Tab April 10, 2009 Provides Information
S&P Downgrades Rating On GM Credit Facility
Standard & Poor's Ratings said Friday it lowered its issue-level rating on General Motors Corp.'s $4.5 billion senior secured revolving credit facility to CCC- from CCC. GM's corporate credit rating remains unchanged at CC on the likelihood that the automaker will default through a bankruptcy or a distressed debt exchange, S&P said.
Open Open Tab April 10, 2009 Provides Information
Fitch Downgrades Ireland's AAA Rating On Fiscal Risk
Fitch Ratings on Wednesday downgraded Ireland's sovereign rating to AA+ from AAA because the country's public finances and fiscal risk outlook no longer support the top rating.
Open Open Tab April 8, 2009 Provides Information
Moody's Cuts Berkshire Hathaway's Aaa Rating
Moody's Investors Service said late Wednesday that it cut the Aaa rating of Berkshire Hathaway because falling equity markets and a prolonged recession have dented the company's capital. The rating agency downgraded the long-term issuer rating of Berkshire to Aa2 from Aaa.
Open Open Tab April 8, 2009 Provides Information
Moody's Downgrades Dynegy On Projected Lower Power Prices
Moody's Investors Service downgraded on Wednesday the long-term ratings of Dynegy Holdings Inc. on projected lower power prices affecting credit metrics. Moody's cut the corporate family and probability of default ratings of the electricity utility to B2 from B1.
Open Open Tab April 8, 2009 Provides Information
Moody's Downgrades Mizuho On Tier I Pressure
Moody's Investors Service said Wednesday it downgraded Japan's Mizuho Financial Group Inc. and its units because the bank's Tier I capital ratio could come under short- to medium-term pressure.
Open Open Tab April 8, 2009 Provides Information
Moody's Downgrades R.R. Donnelley On Weak Sector
Moody's Investors Service on Wednesday downgraded R.R. Donnelley & Sons Co.'s on poor industry fundamentals. Moody's cut the senior unsecured debt ratings of the business services provider to Baa3 from Baa2, and downgraded its commercial paper rating to Prime-3 from Prime-2.
Open Open Tab April 8, 2009 Provides Information
Moody's May Downgrade Centex, Pulte Ratings On Merger
Moody's Investors Service on Wednesday placed the ratings of both Pulte Homes Inc. and Centex Corp. under review for possible downgrade after the companies announced a merger agreement. The all-stock deal would create the nation's largest home builder.
Open Open Tab April 8, 2009 Provides Information
Fitch Cuts Rating On Seagate Technology
Fitch Ratings on Tuesday cut its rating on Seagate Technology to BB from BB+. Fitch said it made the move due to what it sees as declining demand for hard-disk drives, especially those used in personal computers. Fitch said the worldwide economic slowdown is at the root of the weakness in hard-disk drive sales, and it expects demand to remain weak throughout 2009. Seagate shares fell 20 cents, or 3%, to $6.21.
Open Open Tab April 7, 2009 Provides Information
S P Cuts CBS Short-term Ratings, May Cut Long-term Ratings
Standard   Poor's said Monday it may downgrade the long-term ratings of CBS Corp. and cut short-term ratings because of expected weakness in advertising revenue. S&P has a BBB corporate credit rating on CBS.
Open Open Tab April 6, 2009 Provides Information
S P Cuts Ford Corporate Rating To Selective Default
Standard   Poor's on Monday cut the corporate credit rating of Ford Motor Co. to SD, or selective default, following the completion of tender offers for the auto maker's debt. S&P said it expects to issue a new corporate credit rating by mid-April after an assessment of the company's new capital structure and liquidity profile.
Open Open Tab April 6, 2009 Provides Information
S P Puts Sun Micro Ratings On 'watch Developing' Status
Standard   Poor's Ratings Service on Monday placed its ratings on Sun Microsystems Inc. on creditwatch with developing implications, indicating the possibility of an upward or downward rating movement. S&P said the move follows reports that talks about a $7 billion merger with International Business Machines have broken down.
Open Open Tab April 6, 2009 Provides Information
Lazard Downgrades Amylin To Hold On FDA Concerns
Analysts at Lazard Capital Markets lowered their rating of Amylin Pharmaceuticals on Friday to hold from buy, citing concerns that the company's drug candidate exenatide LAR might run into the same regulatory approval snags as Novo Nordisk A/S' liraglutide.
Open Open Tab April 3, 2009 Provides Information
Honeywell Upgraded To Buy At Standard   Poor's Equity
Honeywell International Inc. is oversold and poised to benefit from the eventual upturn in the economy, which appears ever closer amid new signs of business stability in the U.S., according to a Thursday research note from Standard   Poor's Equity.
Open Open Tab April 2, 2009 Provides Information
Moody's Downgrades J.C. Penney On Retail Challenges
Moody's Investors Service on Wednesday downgraded J.C. Penney Co. on challenges to the retail sector. Moody's cut J.C. Penney's senior unsecured notes to Ba1 from Baa3 and assigned a Baa1 to a proposed senior secured revolving credit facility due April 2012.
Open Open Tab April 1, 2009 Provides Information
Moody's Downgrades Macy's On Retail, Credit Woes
Moody's Investors Service said Wednesday it downgraded Macy's Inc. because of deteriorating credit and retail challenges. Moody's cut Macy's senior unsecured note rating to Ba2 from Baa3, and assigned a corporate family rating of Ba2.
Open Open Tab April 1, 2009 Provides Information
Dividends
General Mills Hikes Quarterly Dividend To 47 Cents
General Mills' board on Monday raised the quarterly dividend by 4 cents to 47 cents, bringing the annualized dividend rate to $1.88. The dividend will be paid Aug. 3 to shareholders of record on July 10.
Open Open Tab June 29, 2009 Provides Information
PetSmart Board Ups Dividend, OKs $350 Mln Buyback
PetSmart Inc. said late Tuesday its board raised the quarterly dividend and authorized a share buyback program. The pet supplies retailer said the board raised the quarterly dividend to 10 cents from 3 cents. The dividend is payable Aug. 14 to shareholders of record as of July 31.
Open Open Tab June 23, 2009 Provides Information
GE Declares Quarterly Dividend Of 10 Cents
General Electric's board on Friday authorized a quarterly dividend of 10 cents, unchanged from the previous quarter. The dividend will be paid July 27 to shareholders of record at the close of business on June 22.
Open Open Tab June 12, 2009 Provides Information
Vulcan Materials Cuts Dividend To 25 Cents
Vulcan Materials Co. said Wednesday it is cutting its third-quarter dividend to 25 cents from 49 cents. It will also offer 11.5 million common shares in a public offering.
Open Open Tab June 10, 2009 Provides Information
ACE Ltd. To Hike Annual Dividend By 7%
ACE Ltd. said Wednesday that shareholders voted to raise the annual dividend 7% to $1.24 from $1.16. The first quarterly dividend of 31 cents is payable Aug. 10 to shareholders of record as of July 28.
Open Open Tab May 20, 2009 Provides Information
Airgas Increases Quarterly Dividend 13%
Airgas Inc. said late Tuesday that its board increased the quarterly cash dividend 13% to 18 cents from 16 cents.
Open Open Tab May 19, 2009 Provides Information
Wells Fargo Declares Dividends On Preferred Stock
Wells Fargo & Co. on Friday declared dividends on two series of preferred stock. It declared a quarterly cash dividend of $20 on its 8.00% non-cumulative perpetual class A preferred stock, Series J.
Open Open Tab May 15, 2009 Provides Information
PepsiCo Board Hikes Dividend By 6%
PepsiCo Inc. said late Tuesday its board increased the company's dividend 6%. The hike increases Pepsi's annual dividend to $1.80 from $1.70. The new quarterly dividend of 45 cents is payable June 30 to shareholders of record as of June 5.
Open Open Tab May 5, 2009 Provides Information
Westpac Says Net Income Slips, Cuts Dividend
Westpac Banking Corp. said net income for the six months ended March 31 came in at A$2.175 billion, down slightly from a year earlier, when the Australian bank made A$2.202 billion.
Open Open Tab May 5, 2009 Provides Information
IBM boosts dividend 10 pct, adds $3B for buyback
IBM Corp. boosted its quarterly dividend by 10 percent Tuesday, a sign of the company's health when others are cutting their payments to shareholders, and announced plans for a handful of "analytics centers" that could employ up to 4,000 people.
    April 28, 2009 Provides Information
Kellogg To Hike Dividend 10% To 37.5 Cents
Kellogg Co. said Thursday it plans to increase the quarterly dividend 10% to 37.5 cents in the third quarter. For now, Kellogg said it will pay a dividend of 34 cents on June 16 to shareholders of record on June 1.
Open Open Tab April 23, 2009 Provides Information
H.B. Fuller Raises Quarterly Dividend To 6.8 Cents
Adhesive and sealant maker H.B. Fuller Co. said Thursday it raised its quarterly dividend to 6.8 cents from 6.6 cents. The dividend is payable May 14 to shareholders of record as of April 30.
Open Open Tab April 16, 2009 Provides Information
Qualcomm Declares Quarterly Cash Dividend
Qualcomm Incorporated today announced a quarterly cash dividend of $0.17 per common share, payable on June 26, 2009 to stockholders of record at the close of business on May 29, 2009.
Open Open Tab April 8, 2009 Provides Information
S&P: First Quarter Worst For Dividends Since 1955
The first quarter was the worst for dividend payouts since 1955, Standard & Poor's said Tuesday. A record 367 of the 7,000 U.S. companies tracked by S&P cut their dividend payments in the first quarter, for a total $77 billion cut in shareholder payouts.
Open Open Tab April 7, 2009 Provides Information
Dollar (The) and Foreign Currencies
Dollar's reserve status 'is safe'
The dollar has risen after Russian finance minister Alexei Kudrin said it would not be replaced as the world's reserve currency in the near future.
Open Open Tab June 15, 2009 Provides Information
Dollar Stays Up After Confidence Data
The dollar index , a measure of the greenback against a trade-weighted basket of currencies, rose to 80.353, up from 79.243 Thursday.
Open Open Tab June 12, 2009 Provides Information
Dollar Rallies Amid Concerns About Inflation
After hitting a six-month low earlier last week, the U.S. dollar traded higher on Monday, adding to a two-day rally, after a major rating agency lowered the credit rating on Ireland and investors braced for several big bond auctions later this week.
Open Open Tab June 8, 2009 Provides Information
Dollar Pares Gains After Confidence Data
The U.S. dollar pared gains Tuesday after a report showed consumer confidence surged ore than predicted this month
Open Open Tab May 26, 2009 Provides Information
U.S. Dollar Falls to 2009 Low on Ratings Worries
The dollar dropped to its lowest level this year Friday and was on track for its biggest weekly fall in two months on concerns about the AAA-rating status of the United States.
    May 22, 2009 Provides Information
Dollar Stays Down After ISM Services Data
The U.S. dollar remained lower Tuesday after the Institute of Supply Management's survey of non-manufacturing businesses showed that sector of the economy contracted at a slower pace last month.
Open Open Tab May 5, 2009 Provides Information
Dollar Up Versus Yen After Housing Data
The U.S. dollar stayed higher versus the Japanese yen Monday after a report showed U.S. pending home sales rose 3.2% in March, higher than some analysts expected and buoying hopes that the housing downturn may be ending.
Open Open Tab May 4, 2009 Provides Information
Dollar Lower As Home Sales Top Forecasts
The U.S. dollar stayed down Friday versus the euro and yen after a government report said sales of new homes fell 0.6% in March or a seasonally adjusted annual rate of 356,000.
Open Open Tab April 25, 2009 Provides Information
U.S. Dollar Falls Vs. Major Rivals
The euro rose 0.5% to $1.3062 and the British pound soared 1.1% to $1.4632.
Open Open Tab April 23, 2009 Provides Information
China Not Manipulating Its Currency, U.S. Treasury Says
The Chinese renminbi is undervalued, the U.S. Treasury said Wednesday, but China is not manipulating the value of its currency to gain an unfair trade advantage. Despite complaints from U.S. manufacturing and labor interests that Beijing has kept the value of its currency low to encourage its exports, the Treasury has never ruled against China officially in its semiannual currency report, which was released Wednesday.
Open Open Tab April 15, 2009 Provides Information
Dollar Extends Gains After Fed's Beige Book
The dollar index, a measure of the greenback against a trade-weighted basket of currencies, traded at 85.04 compared with 85.13 earlier. The euro was down 0.5% at $1.3198 and the dollar was up 0.4% at 99.21 Japanese yen.
Open Open Tab April 15, 2009 Provides Information
Russia May Borrow Abroad Next Year: Report
Russian Finance Minister Alexei Kudrin said Tuesday that Russia may tap the international debt markets next year for the first time in a decade to finance its budget deficit and make it easier for companies to borrow, the Wall Street Journal reported. Kudrin also said that it will take several years for Russia to get out of its current economic crisis, according to the report.
Open Open Tab April 14, 2009 Provides Information
Dollar Gains Slightly; Fed Minutes Show Little Easing Debate
The dollar was slightly higher Wednesday after the release of the minutes of the Federal Open Market Committee's March 18 policy meeting showed little debate among members on the question of buying longer-term Treasurys, with the major disagreement coming over how much to buy.
Open Open Tab April 8, 2009 Provides Information
Fed To Provide Foreign-currency Liquidity Via Central Banks
The world's leading central banks on Monday said they would set up swap arrangements that would allow the U.S. Federal Reserve to provide foreign-currency liquidity to U.S. financial institutions. If needed, euro, Japanese yen, British pounds and Swiss francs would be provided to the Fed through these additional swap arrangements with the relevant central bank, the Fed said in a news release.
Open Open Tab April 6, 2009 Provides Information
What if the world all used the same currency?
Also: Why have government workers been spared layoffs?
Open Open Tab April 6, 2009 Provides Information
Dollar Extends Losses After Brown Describes G20 Steps
The dollar extended losses against most major counterparts Thursday, in the wake of remarks from British Prime Minister Gordon Brown at the Group of 20 leaders meeting in London. Brown said total fiscal stimulus will amount to $5 trillion, and leaders agreed to provide a total of $1 trillion in resources to the International Monetary Fund.
Open Open Tab April 2, 2009 Provides Information
Dow Chemical
Dow Chemical Upped To Neutral At HSBC On Morton Salt Sale
Dow Chemical Co.'s better-than-expected selling price for Morton International to K+S has smoothed the way for its Rohm   Haas acquisition without additional credit downgrades, according to a Thursday note from HSBC Global Research.
Open Open Tab April 2, 2009 Provides Information
Dow Jones
Dow Jones Newswires North America
Provider of comprehensive real-time business, financial, and geopolitical news to financial professionals.
Open Open Tab   Provides Information
Economic Growth and/or Economic Contraction
Consumer Prices Edge Up 0.1% in May
Inflation remains way off in the horizon as a concern for consumers, based on a report by the U.S. Labor Department released Wednesday, which showed that consumer prices fell at an annual pace not seen in almost six decades.
Open Open Tab June 17, 2009 Provides Information
Americans' Net Worth Shrinks $1.33 Trillion in First Quarter
The Federal Reserve reported Thursday that household net worth fell to $50.38 trillion in the January-March quarter, the lowest level since the third quarter of 2004.
Open Open Tab June 11, 2009 Provides Information
April Trade Deficit Rises Slightly to $29.2 Billion
The Commerce Department says the deficit rose for a second straight month in April, climbing 2.2 percent to $29.2 billion. That was slightly higher than economists' expectations.
Open Open Tab June 10, 2009 Provides Information
Brazil Finance Minister Sees Mild Recovery In 2009
Brazilian Finance Minister Guido Mantega said Tuesday there are strong signs that the economy will be able to see a mild recovery by the end of 2009. Preliminary indicators for the service sector have been favorable during the second quarter, said Mantega during a conference call about the country's first-quarter gross domestic product report.
Open Open Tab June 9, 2009 Provides Information
Brazil's economy enters recession
Brazil has gone into recession after its economy contracted by 0.8% in the first three months of 2009.
Open Open Tab June 9, 2009 Provides Information
U.S. May ISM Factory Index Highest Since Sept.
The nation's manufacturers continued to cut back production in May, but not as rapidly as during the worst of the downturn, the Institute for Supply Management reported Monday. The ISM index rose to 42.8% in May from 40.1% in April.
Open Open Tab June 1, 2009 Provides Information
Economy Shrinks 5.7 Percent in First Quarter, Less Than Initial Estimate
The Commerce Department's updated reading on gross domestic product, released Friday, showed the economy's contraction from January to March was slightly less deep than the 6.1 percent annualized decline first estimated last month.
Open Open Tab May 29, 2009 Provides Information
Bangalore bashing: Recession gets nasty
Is Bangalore, India's globalisation hotspot and magnet for outsourced jobs from the West, caught in the eye of the global economic crisis?
Open Open Tab May 28, 2009 Provides Information
U.S. recession to end soon, modest recovery seen: poll
The U.S. recession is set to end "soon," but continued job losses and plunging house prices point to an economic recovery that will be more moderate than those experienced in previous downturns, a survey showed.
Open Open Tab May 27, 2009 Provides Information
California faces fresh problems funding huge deficit
California's struggle to fund its budget deficit faced fresh problems on Thursday, after U.S. Treasury Secretary Geithner refused to use bank bailout money to help state finances, and the state's fiscal watchdog objected to a plan to sell warrants to raise cash.
Open Open Tab May 21, 2009 Provides Information
Retail Sales Fall Unexpectedly in April
The Commerce Department says retail sales fell 0.4 percent last month, much worse than the flat reading economists expected.
Open Open Tab May 13, 2009 Provides Information
Bernanke Sees Tentative U.S. Recovery This Year
Federal Reserve Chairman Ben Bernanke on Tuesday was more upbeat about the U.S. economy than he has been in months.
    May 5, 2009 Provides Information
EU economy to shrink 4% in worst post-war slump
The EU economy will contract 4.0 percent this year as a worse-than-expected recession drives unemployment to levels not seen since World War II, the European Commission warned on Monday.
Open Open Tab May 4, 2009 Provides Information
Lithuania's economy shrinks 12%
The Lithuanian economy shrank by 12.6% in the first quarter of 2009 compared with the same period last year, the country's statistics office has said.
Open Open Tab April 28, 2009 Provides Information
Japan Says Regional Economies Worsening: Report
The Ministry of Finance on Wednesday downgraded its overall assessment of Japan's regional economies for the fifth straight quarter, saying that conditions worsened steadily in the January-March period, the Nikkei reported.
Open Open Tab April 22, 2009 Provides Information
CEOs Expect Fewer Sales, More Job Cuts
The nation’s top executives painted a grim picture of what the economic landscape will look like over the next six months, predicting declines in sales, capital spending and employment and a contraction of the overall U.S. economy, according to a survey released Tuesday.
Open Open Tab April 7, 2009 Provides Information
Eurozone's GDP revised downwards
The eurozone economy shrank more than previously estimated in the last three months of 2008, official figures say.
Open Open Tab April 7, 2009 Provides Information
Goldman Sachs CEO: Financial Industry to Take 'Years' to Rebuild
The head of one of the most prominent investment firms said Tuesday that the financial turmoil that overwhelmed much of the past year has destroyed public confidence in the industry and will take “years to rebuild.”
Open Open Tab April 7, 2009 Provides Information
Economic Indicators
May incomes surge, but savings outpace spending
Households pushed their savings rate to the highest level in more than 15 years in May as a big boost in incomes from the government's stimulus program was devoted more to bolstering nest eggs than increased spending.
Open Open Tab June 26, 2009 Provides Information
Data May Signal U.S. Recovery
Some risks remain, but the economy looks set for a fourth-quarter recovery.
Open Open Tab June 15, 2009 Provides Information
Consumer Sentiment Rises to 69 In June
U.S. consumer sentiment rose in June, but remained at relatively low levels, according to media reports of a survey released Friday by the University of Michigan and Reuters.
Open Open Tab June 12, 2009 Provides Information
Household Wealth Drops For 7th Straight Quarter
The net worth of U.S. households fell by $1.3 trillion in the first quarter, a seventh straight decline that has seen their wealth drop by nearly $14 trillion, the Federal Reserve reported Thursday.
Open Open Tab June 11, 2009 Provides Information
Progress Made On Reducing Bloated Inventories
U.S. businesses reduced their inventories for the eighth straight month in April and made some progress in paring their stocks of unsold goods, the Commerce Department reported Thursday. Business inventories fell 1.1%, compared with estimates of a 1% drop.
Open Open Tab June 11, 2009 Provides Information
Fed: Economy Deteriorated in April, May
The U.S. economy remained “weak or deteriorated further” from mid-April to May, according to an anecdotal Federal Reserve survey of its twelve regional banks, though some regions of the country did see the rate of deterioration moderating.
Open Open Tab June 10, 2009 Provides Information
Fed survey sees signs recession is easing
The economy's sharp downhill slide eased in the late spring and hopes for future business activity improved, suggesting that the worst of the recession has passed.
Open Open Tab June 10, 2009 Provides Information
US retailers report May sales declines
Although consumer confidence may be increasing, it's not showing up at the cash register yet. Many retailers posted disappointing May sales on Thursday, and food and necessities remained high on shoppers' lists.
Open Open Tab June 4, 2009 Provides Information
Service Sector, Factory Orders Grow Less Than Expected
A pair of economic reports released Wednesday on the U.S. service and manufacturing sectors provided further evidence the nation’s economy is slowly healing-- albeit at a slower pace than some economists had predicted.
Open Open Tab June 3, 2009 Provides Information
Consumer Spending Eases 0.1% as Savings Rate Rises
The U.S. Department of Commerce has released April’s personal income and spending figures, showing a surprisingly high savings rate and a decline in spending, as Americans battened down the hatches for the recession.Consumer spending fell 0.1% in April, while incomes rose 0.5%.
Open Open Tab June 1, 2009 Provides Information
GDP hints recession is moderating
The U.S. economy contracted slightly less than initially estimated in the first quarter, while corporate profits rebounded, according to a government report on Friday that pointed to moderation in the recession.
Open Open Tab May 29, 2009 Provides Information
Consumer Confidence Surges on Brighter Jobs Outlook
A reading on U.S. consumer confidence surged to 54.9 in May from an upwardly revised 40.8 in April as expectations for jobs improved, the Conference Board reported Tuesday.
Open Open Tab May 26, 2009 Provides Information
April Leading Indicators Rise; Recession To Ease
The index of leading economic indicators rose 1% in April - the first increase in seven months -- following a revised dip of 0.2% in March.
Open Open Tab May 21, 2009 Provides Information
Philly Fed Sees Slowest Pace Of Decline Since Sept
Manufacturers in the Philadelphia region said business worsened again in May for the eighth straight month, but the decline was slower than at any time since September, the Philadelphia Federal Reserve Bank reported Thursday.
Open Open Tab May 21, 2009 Provides Information
Consumer Prices Remain Flat in April, Matches Expectations
Prices over the past year fell by the largest amount in more than a half-century, the government said Friday.
Open Open Tab May 15, 2009 Provides Information
U.S. CPI, production data point to easing recession
U.S. consumer prices were unchanged last month and industrial output declined at a slower pace, reports showed on Friday, providing more evidence that the worst phase of the recession may be over.
Open Open Tab May 15, 2009 Provides Information
Producer Prices Rise 0.3% in April on Higher Food Costs
A key inflation gauge came in right around expectations for April, and showed that at least in the short term, energy prices have stopped their decline.
    May 14, 2009 Provides Information
Global Recession Deepens, Adding to U.S. Woes
The world is counting on the U.S. to lead a recovery, but neither can grow quickly alone.
Open Open Tab May 4, 2009 Provides Information
Consumer spending, new jobless claims dip
Consumer spending fell more than expected in March after two straight monthly gains, a stark reminder of a fragile economy that has pushed a record number of Americans to draw jobless benefits.
Open Open Tab April 30, 2009 Provides Information
Economy shrinks at worse-than-expected pace
The economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in U.S. exports in 40 years overwhelmed a rebound in consumer spending.
Open Open Tab April 29, 2009 Provides Information
Fed says U.S. recession appears to be easing
The Federal Reserve said on Wednesday the outlook for the U.S. economy had improved a bit in recent weeks but that low interest rates would be needed for some time to ensure it recovers from its deep recession.
Open Open Tab April 29, 2009 Provides Information
Silver Lining in Dismal GDP Numbers
We've run down inventories so much there's nothing to do but but start producing more goods.
Open Open Tab April 29, 2009 Provides Information
World Bank: Economic crisis turning into calamity
The global financial crisis could become "a human and development calamity" for many poor countries, the World Bank said, urging donor nations to speed delivery of money they have pledged and consider giving more.
Open Open Tab April 27, 2009 Provides Information
Durable Goods Orders Fall; New-Home Sales Slip
Durable goods orders returned to a downward slide in March, according to a U.S. Commerce Department report issued Friday, as businesses and consumers cut back even more on the purchase of high-cost goods during this recession.
    April 25, 2009 Provides Information
Tax rise as UK debt hits record
Alistair Darling has said the UK will have to borrow a record £175bn as he admitted the economy faces its worst year since the Second World War.
Open Open Tab April 22, 2009 Provides Information
March Leading Indicators Fall; Recession Seen Through Summer
The recession may continue though the summer, though its intensity could ease, the Conference Board said Monday. The index of leading economic indicators fell 0.3% in March, following an upwardly revised dip of 0.2% in February.
Open Open Tab April 20, 2009 Provides Information
Consumer Sentiment Makes Surprise Improvement
A preliminary report on consumer sentiment showed that consumers’ opinions on the U.S. economy unexpectedly improved in April.
Open Open Tab April 17, 2009 Provides Information
Consumer prices dip unexpectedly in March
Year-over-year, the first 12-month decline since August 1955
Open Open Tab April 15, 2009 Provides Information
Economy Still Contracting Everywhere, Beige Book Says
The economy continued to worsen all across the United States in March and early April, amid scattered signs that the pace of the decline was lessening in some regions, the Federal Reserve reported Wednesday in its Beige Book account of the economy.
Open Open Tab April 15, 2009 Provides Information
Retail sales, producer prices fall sharply
Sales at U.S. retailers unexpectedly fell 1.1 percent in March after rising for two straight months, government data showed on Tuesday, dimming hopes the 16-month-old recession was close to hitting bottom.
Open Open Tab April 14, 2009 Provides Information
U.S. Businesses Reduce Inventories By 1.3% In Feb.
U.S. businesses slashed away at their inventories in February in an attempt to bring supplies down to match demand. Inventories fell 1.3% in February while sales rose 0.2%, the Commerce Department reported.
Open Open Tab April 14, 2009 Provides Information
Wholesale prices fall sharply in March
A sign that inflation is posing little threat to the economy
Open Open Tab April 14, 2009 Provides Information
U.S. March ISM Services Index Falls To 40.8%
U.S. nonmanufacturing sectors contracted at a faster pace in March, according to a Friday report from the Institute for Supply Management, as the global slowdown continued to take its toll. The ISM non-manufacturing index fell to 40.8% in March from 41.6% in February.
Open Open Tab April 3, 2009 Provides Information
Economic Stimulus
Biden: 49 Projects on GOP Senator's Wasteful Spending List Have Been Cut From Stimulus Funding
Vice President Biden called Sen. Tom Coburn "dead wrong" for his comprehensive list that he released last week detailing 100 local projects funded by federal stimulus funds that he claims amount to nothing more than billions of dollars in wasteful spending.
Open Open Tab June 25, 2009 Provides Information
Resellers to Get Economic Stimulus Package Grant Funding Help
The economic stimulus package -- American Recovery and Reinvestment Act -- earmarks up to $80 billion in IT spending for healthcare, government, education, infrastructure and other IT projects.
Open Open Tab June 18, 2009 Provides Information
Biden Praises Stimulus Benefits at Pennsylvania Bridge Visit
Vice President Biden led a delegation from the Obama administration to the groundbreaking for the bridge in Carlisle, the first stop of his cross-country "Road to Recovery" tour.
Open Open Tab June 11, 2009 Provides Information
Did Stimulus Checks Help the Economy?
Over a year ago, even before Congress approved the stimulus-rebate checks, there were concerns about if and how those rebates would be spent.
Open Open Tab June 11, 2009 Provides Information
Work begins on nation's largest mass transit project
The largest mass transit project in the country got under way Monday with the help of federal stimulus dollars, as public officials broke ground on a second passenger rail tunnel beneath the Hudson River.
Open Open Tab June 8, 2009 Provides Information
Biden: Obama to Announce Plan Monday to Ramp Up 'Stimulus' Over Summer
Vice President Biden said he will join President Obama on Monday in seeking to ramp up the pace this summer of the massive economic stimulus effort that Congress approved earlier this year.
Open Open Tab June 5, 2009 Provides Information
South Carolina Supreme Court Orders Governor to Take Stimulus Cash
The state Supreme Court issued its ruling Thursday, a day after hearing arguments in Republican Gov. Mark Sanford's legal fight to reject $700 million in federal stimulus money.
Open Open Tab June 4, 2009 Provides Information
Cash for Aussie 'grateful dead'
The Australian government has admitted that cash hand-outs aimed at stimulating the economy have been sent to thousands of people who are dead.
Open Open Tab May 28, 2009 Provides Information
$1.2 billion for summer jobs
Stimulus funds provide job training for disadvantaged young adults. Programs intended to build skills, but some states may find it tough to place participants.
Open Open Tab May 27, 2009 Provides Information
Best tools for local governments to track stimulus spending
IT spending in the stimulus package is not just about health records.
Open Open Tab May 27, 2009 Provides Information
IBM Earmarks $3 Billion for Europe and Asia Stimulus
IBM has earmarked $3 billion to finance so-called smart infrastructure projects in Europe and Asia likely to receive government stimulus support. IBM's latest announcement is similar to the $2 billion the computer consulting and technology company is making available in the U.S.
Open Open Tab May 27, 2009 Provides Information
U.S. Awards $1.5 Billion In Stimulus Tax Credits
Treasury Secretary Tim Geithner on Wednesday announced $1.5 billion in tax credits, saying the money from President Barack Obama's stimulus package would create jobs and stimulate growth around the country.
Open Open Tab May 27, 2009 Provides Information
Dead People Being Sent Stimulus Checks
The Social Security Administration, which sent out 52 million checks, says that some of those checks mistakenly went to dead people because the agency had no record of their death.
Open Open Tab May 15, 2009 Provides Information
Fact Check: Biden Plays Loose With Stimulus Facts
Many of the claims the White House is making about economic recovery are based on anecdotes selected to fit the Obama administration's message.
Open Open Tab May 14, 2009 Provides Information
Democrat Displeased With Way Roads Plan Was Sold in Stimulus
A spokesman to Minnesota Rep. James Oberstar, who leads the House Transportation and Infrastructure Committee, says the White House push for road construction in the stimulus plan was oversold.
Open Open Tab May 11, 2009 Provides Information
Mayors Blasting Governors For Denying Stimulus Funds
Big cities complain that their statehouses are neglecting them when it comes to doling out money from February’s $787 billion fiscal stimulus package.
Open Open Tab May 11, 2009 Provides Information
SMBs Prefer Tax Cuts to Stimulus Money
A survey from SurePayroll finds small business owners think the Obama administration is out of touch with small business.
Open Open Tab April 30, 2009 Provides Information
More Stimulus Misconceptions
I still receive a ton of questions about the economic-stimulus package and how people can get their money.
Open Open Tab April 27, 2009 Provides Information
Answering Your Stimulus Package Questions
Opportunities abound in the stimulus package, but figuring out how to take advantage of them is confusing. We try to answer questions.
Open Open Tab April 25, 2009 Provides Information
GAO: States Should Get Help Managing Stimulus
Congressional watchdog agency says states responsible for more than a third of President Barack Obama's $787 billion stimulus program should be able to tap some of the recovery money to cover costs of managing the new spending.
Open Open Tab April 23, 2009 Provides Information
The New Stimulus Tax Credit
This tax break puts up to $400 in your pocket.
Open Open Tab April 23, 2009 Provides Information
Stimulus money should go to lowest bidders, economists say
A group of Stanford economists is pressing the government to streamline the process for doling out $7.2 billion in economic stimulus money slated for high-speed Internet development.
Open Open Tab April 20, 2009 Provides Information
States spending money to keep stimulus funds
Cash-strapped governments must shell out dollars or risk losing federal aid
Open Open Tab April 17, 2009 Provides Information
U.S. business worried China stimulus favors locals
U.S. companies are concerned that they are not getting a fair chance at contracts linked to China's 4 trillion yuan ($585 billion) stimulus package, a leading U.S. business group said on Friday.
Open Open Tab April 17, 2009 Provides Information
Obama says stimulus projects under budget
U.S. President Barack Obama said on Monday that thousands of major infrastructure projects being undertaken as part of his economic stimulus plan were ahead of schedule and under budget.
Open Open Tab April 13, 2009 Provides Information
Obama to Spotlight 2,000th Stimulus Project
Obama, vice president and transportation secretary to highlight the administration's 2,000th project funded through the $48.1 billion allocated for transportation infrastructure in stimulus.
Open Open Tab April 13, 2009 Provides Information
Gov. Asks Feds For Nearly $5 Billion For Education
Gov. Arnold Schwarzenegger is asking the federal government for nearly $5 billion in economic stimulus money for California schools.
Open Open Tab April 9, 2009 Provides Information
Japan's Ruling Party OKs 15 Trillion Yen Stimulus
Japan's ruling Liberal Democratic Party has approved a new stimulus package worth over 15 trillion yen ($150 billion), reports said Thursday. The new spending was passed by the LDP's policy board, according to a Jiji Press report cited by Agence France-Presse.
Open Open Tab April 8, 2009 Provides Information
Virginia House Rejects $125M in Stimulus Cash
The House turned down amendments by Democratic Gov. Timothy M. Kaine that were necessary to make Virginia eligible for the federal aid.
Open Open Tab April 8, 2009 Provides Information
Japan in 10 trillion yen stimulus
Japan is to implement another fiscal stimulus plan of more than 10tn yen ($99bn; £66bn) to fight the recession.
Open Open Tab April 6, 2009 Provides Information
Treasury Outlines Details of Stimulus Bond Programs
State and local leaders anxious to take on much-needed infrastructure and public-school construction projects got one step closer Friday as the Treasury Department released guidance on the Obama Administration’s new bonds programs.
Open Open Tab April 3, 2009 Provides Information
House Republicans Call for Stimulus Repeal in Budget Plan
House Republicans unveil some details about their alternative to President Obama's budget blueprint.
Open Open Tab April 1, 2009 Provides Information
Economic Trade
Trade Deficit Widens to $27.6 Billion in March
The Commerce Department says the deficit widened to $27.6 billion in March, slightly lower than the $29 billion gap that economists had forecast.
Open Open Tab May 12, 2009 Provides Information
February Trade Gap Narrows to Lowest Since 1999
The U.S. trade deficit shrank by 28.3 percent in February to its smallest since November 1999 as imports tumbled and exports managed to grow slightly in the face of shrinking global demand, a U.S. government report showed on Thursday.
    April 9, 2009 Provides Information
Fannie Mae and Freddie Mac
Freddie Mac: 30-year Mortgage Average Edges Down
Freddie Mac said Thursday the 30-year fixed-rate mortgage average fell from the previous week to 4.82% with an average 0.7 point for the week ending May 21.
Open Open Tab May 21, 2009 Provides Information
Freddie Mac Prices 3-year Notes At 1.859% Yield
Freddie Mac said Tuesday it priced $6 billion in new 1.75% three-year Reference Notes security at a yield of 1.859%.
Open Open Tab May 19, 2009 Provides Information
Fannie Mae Prices New $5 Bln Notes At 2.531% Yield
Fannie Mae said Wednesday it priced $5 billion in new 5-year Benchmark Notes at a 2.531% yield. The issue price was 99.855, or 56 basis points above corresponding U.S. Treasury notes with a coupon of 2.500%.
Open Open Tab May 13, 2009 Provides Information
Freddie Mac First-quarter Loss Widens
Freddie Mac said late Tuesday its first-quarter loss widened to $9.85 billion, or $3.14 a share, from $151 million a year ago. Total revenue declined to $771 million from $1.41 billion last year.
Open Open Tab May 12, 2009 Provides Information
Fannie Mae To Offer New 5-year Benchmark Notes
Fannie Mae will offer a new tranche of 5-year Benchmark Notes, the mortgage-finance company said Tuesday. The notes will be priced on Wednesday and settled Friday. Barclays Capital, Deutsche Bank Securities and J.P. Morgan are the joint lead managers.
Open Open Tab May 12, 2009 Provides Information
Freddie Avoids $30 Billion Charge
Freddie Mac has received a favorable ruling from the Securities and Exchange Commission that will allow it to avoid what the company had feared might be a $30 billion charge against earnings, The Wall Street Journal reported late Tuesday, citing an interview with acting Chief Executive John Koskinen.
Open Open Tab May 5, 2009 Provides Information
Fannie And Freddie's Backdoor Bailout
Forget the cram-down bill. Washington's already got a booming business modifying mortgages.
Open Open Tab May 1, 2009 Provides Information
Freddie Mac CFO Found Dead of Apparent Suicide
The acting chief financial officer of Freddie Mac was found dead in his home Wednesday morning of an apparent suicide, Fairfax, Va., police have confirmed to FOX News.
Open Open Tab April 22, 2009 Provides Information
Fannie Mae Names Michael Williams President, CEO
Fannie Mae said Monday it named Michael Williams president and chief executive to succeed Herbert Allison, who was nominated by President Barack Obama as Assistant Secretary for Financial Stability at the U.S Treasury. Williams most recently served as Fannie's chief operating officer.
Open Open Tab April 20, 2009 Provides Information
Fannie Mae Prices $4 Billion In 3-year Benchmark Notes
Fannie Mae said Thursday it priced $4 billion in new three-year Benchmark Notes at 99.874, or 74 basis points over corresponding U.S. Treasury notes. The issue price represents a yield of 1.918%.
Open Open Tab April 2, 2009 Provides Information
Federal Open Market Committee - FOMC
Financial Stocks Rise Ahead Of FOMC Outlook
U.S. financial stocks traded higher Wednesday as markets awaited a statement from the Federal Reserve that could signal the central bank's future actions, along with the direction of the economy. The benchmark financial sector exchange-traded fund, Financial Select Sector SPDR Fund , was up 2.4% to $11.74 in midday trade. Adding to a rally in financials were Hartford Financial Services Group Inc. and Principal Financial Group Inc. , whose shares rose 6.6% and 4.9%, respectively.
Open Open Tab June 24, 2009 Provides Information
Gold Prices
Gold Could Shoot Through $1,000 if China Shifts Away From U.S. Treasurys
Gold could go well above $1,000 an ounce in the next couple of years, according to some people bullish on the metal, who say China could boost the yellow metal's price significantly if it takes the policy actions one of its research officials is advocating.
Open Open Tab June 26, 2009 Provides Information
Gold Futures End Slightly Higher
Gold futures ended slightly higher on Tuesday following a volatile trading session. Gold for August delivery gained $3.30 to end at $924.30 an ounce on the New York Mercantile Exchange. The precious metal is stuck in a trading range ahead of what Wednesday's monetary-policy statement from the Federal Open Market Committee will say.
Open Open Tab June 23, 2009 Provides Information
Gold Falls As Dollar Continues To Strengthen
Gold for June delivery fell $10, or 1%, to end at $951.70 an ounce on the Comex division of the New York Mercantile Exchange, the lowest settlement price since May 21. The more active August contract lost 1% to $952.50 an ounce.
Open Open Tab June 8, 2009 Provides Information
Gold Tops $950 For First Time In Nearly Two Months
Gold futures on Thursday finished above the $950-an-ounce mark for the first time since late March as another round of weak economic data added to bullion's appeal as a hedge against riskier assets.
Open Open Tab May 21, 2009 Provides Information
June Gold Futures End Near $924 An Ounce
Gold futures for June delivery on Tuesday finished at their highest level since April 1 as a weaker U.S. dollar and pricier crude fueled demand for the precious metal as an inflation hedge.
Open Open Tab May 12, 2009 Provides Information
Gold Rises Above $900; Copper Falls For Fourth Day
Gold rose Thursday above $900 for the first time in nearly three weeks after data showed a big increase in claims for U.S. unemployment benefits, raising economic worries and increasing the precious metal's value as a safe asset. Copper fell for a fourth session.
Open Open Tab April 23, 2009 Provides Information
Gold Extends Decline As Brown's Comments Raise Optimism
Gold futures fell over 3% to below $900 an ounce Thursday after comments from British Prime Minister Gordon Brown further raised optimism about a global economic recovery and reduced gold's appeal as a safe asset. Gold for April delivery fell $30.50, or 3.3%, to $895.60 an ounce on the Comex division of the New York Mercantile Exchange.
Open Open Tab April 2, 2009 Provides Information
Goldman Sachs
Goldman Sachs Upgraded To Market Perform At JMP
JMP Securities analyst Michael Hecht on Monday upgraded shares of Goldman Sachs Group Inc. to market perform from market underperform, and lifted his 2009 and 2010 profit estimates for the bank.
Open Open Tab May 18, 2009 Provides Information
Mass AG To Announce Settlement With Goldman
The office of Massachusetts Attorney General Martha Coakley said it plans to hold a press conference on Monday to announce a multi-million-dollar settlement with Goldman Sachs Group Inc. .
Open Open Tab May 11, 2009 Provides Information
Taxing Grandma to subsidize Goldman Sachs
Sacrifices of American retirees are helping pay off Wall Street’s losses
Open Open Tab April 15, 2009 Provides Information
Goldman Sachs Swings to Profit
Battered bank holding company Goldman Sachs weighed in with impressive first-quarter earnings of $3.39 per share or net income of $1.81 billion, compared to a reported loss of $2.1 billion, or $4.97 per share during the same period one year ago. The company posted a revenue of $9.43 billion during the quarter.
Open Open Tab April 13, 2009 Provides Information
Goldman Sachs mulls stock sale to repay TARP money: report
Goldman Sachs Group Inc is considering making a multibillion dollar share offering to investors as part of its efforts to repay a $10 billion government loan, the Wall Street Journal reported citing people familiar with the matter.
Open Open Tab April 10, 2009 Provides Information
Goldman’s CEO Speaks; Just Call Him ‘Mr. Blankcheck’
Goldman Sachs chief executive Lloyd Blankfein spoke about a whole lot of things on Tuesday in his speech before the Council of Institutional Investors.
Open Open Tab April 8, 2009 Provides Information
Governmental Budgets - Spending Bills
Account Trade Deficit Drops to $101.5 Billion
The deficit in the broadest measure of trade plunged sharply in the first three months of the year as the country's deep recession depressed imports of oil and other goods.
Open Open Tab June 17, 2009 Provides Information
Federal Deficit Soars to May Record of $189.7B
The Treasury Department reported Wednesday that the red ink so far this year totals $991.9 billion and the administration is projecting the deficit for the budget year that began Oct. 1, will total an all-time record of $1.84 trillion..
Open Open Tab June 10, 2009 Provides Information
Obama Calls for Pay-as-You-Go Approach to Spending
The president's plan would require Congress to pay for new entitlement spending, such as health care, by raising taxes or coming up with budget cuts -- a "pay-as-you-go" system that would have the force of law.
Open Open Tab June 9, 2009 Provides Information
Japan Aims To Halve Deficit Ratio By 2013
Japan's new key financial target will likely be halving the ratio of its budget deficit to gross domestic product by the end of fiscal 2013, Japanese news agency Kyodo reported Friday, citing a draft version of the government's upcoming fiscal guideline.
Open Open Tab June 4, 2009 Provides Information
White House: Budget deficit to top $1.8 trillion
With the economy performing worse than hoped, revised White House figures point to deepening budget deficits, with the government borrowing almost 50 cents for every dollar it spends this year.
Open Open Tab May 11, 2009 Provides Information
Senate OKs Fiscal 2010 Budget Blueprint
The Senate approved a $3.55 trillion budget blueprint for fiscal 2010 on Wednesday, joining the House in handing President Barack Obama a legislative victory. The vote was 53 to 43. The budget preserves Obama's priorities and paves the way for health-care reform later this year.
Open Open Tab April 29, 2009 Provides Information
Federal budget deficit sets March record $192.3B
The Treasury Department said Friday that the budget deficit increased by $192.3 billion in March, and is near $1 trillion just halfway through the budget year, as costs of the financial bailout and recession mount.
Open Open Tab April 11, 2009 Provides Information
Budget Deficit Triples To $957 Billion For Year
The U.S. federal budget deficit rose to a record $956.8 billion in the first six months of the fiscal year after the government stepped up spending to cope with the recession that has depressed tax receipts, the Treasury Department reported Friday.
Open Open Tab April 10, 2009 Provides Information
UK deficit 'more than predicted'
The UK's deficit is about 2.7% more than chancellor Alistair Darling acknowledged in the pre-Budget report, the Institute for Fiscal Studies says.
Open Open Tab April 6, 2009 Provides Information
Republican budget plan would cut taxes, spending
U.S. Senate Democrats on Wednesday rejected a bid to freeze some government spending as House Republicans offered an alternative budget plan that would slash taxes and repeal most stimulus spending.
Open Open Tab April 1, 2009 Provides Information
Inflation
German May Inflation Turns Negative
Germany's consumer price index saw a monthly decline of 0.1% in May and were flat when compared to May 2008, according to a preliminary estimate by the Wiesbaden-based Federal Statistics Office Wednesday afternoon.
Open Open Tab May 27, 2009 Provides Information
Treasury Sells Inflation-indexed Debt At 1.278%
The Treasury Department sold $8 billion in Treasury Inflation Protected Securities on Thursday, at a yield of 1.278%. The 5-year TIPS garnered bids for $2.66 for every dollar available, the highest at a new sale since 5-year TIPS were introduced in 1997.
Open Open Tab April 23, 2009 Provides Information
Kohn says Fed can prevent inflation surge
The Federal Reserve will not allow its unorthodox policies to lead to a surge in inflation as the U.S. economy recovers, Fed Vice Chairman Donald Kohn said on Saturday, though he said the U.S. central bank may need to do even more to ease credit if the economy fails to respond to stimulus measures.
Open Open Tab April 18, 2009 Provides Information
Treasury Sells $6 Billion In Inflation-linked Debt At 1.589%
The Treasury Department sold $6 billion in Treasury Inflation Protected Securities, or TIPS, on Tuesday, at a yield of 1.589%. The sale garnered bids for $2.25 for every dollar available, compared to $2.48 at the last auction of 10-year TIPS in January. Indirect bidders, a class of investors that includes foreign central banks, bought 26.1% of the sale, compared to 47.2% at the last sale.
Open Open Tab April 7, 2009 Provides Information
Fed Announces Six Buybacks Of Treasurys
The Fed specified what securities it may purchase on given days, including the first scheduled buyback of Treasury Inflation Protected Securities, or TIPS, on April 16. So far, the central bank has purchased about $23.5 billion in U.S. debt, as it continues plans to buy $300 billion in Treasury securities over the next six months to improve conditions in private credit markets and spur lending. Ten-year note yields recently fell 2 basis points to 2.65%.
Open Open Tab April 1, 2009 Provides Information
International Monetary Fund - IMF
Senate Takes Up $100 Billion Emergency Spending Request for IMF
Though the country is facing record deficits, the president claims the request would not add to the red ink.
Open Open Tab May 14, 2009 Provides Information
Is IMF Deal Bosnia-Herzegovina's Saving Grace?
The price of reform could push the country into further political turmoil and social unrest.
Open Open Tab May 13, 2009 Provides Information
U.S. offers strong backing for IMF governance overhaul
The United States on Saturday pledged robust support for an overhaul of governing power within the International Monetary Fund so key emerging-market nations get more say in how the lender operates.
Open Open Tab April 25, 2009 Provides Information
Crisis 'far From Over': IMF Chief Strauss-Kahn
The financial crisis, which has morphed into a nasty global recession, is "far from over," said Dominique Strauss-Kahn, the head of the International Monetary Fund on Thursday.
Open Open Tab April 23, 2009 Provides Information
Deeper recession ahead says IMF
The global economy is set to decline by 1.3% in 2009, in the first global recession since World War II, the International Monetary Fund (IMF) says.
Open Open Tab April 22, 2009 Provides Information
Meltdown losses of '$4 trillion'
The International Monetary Fund (IMF) has warned that potential losses from the credit crunch could reach $4 trillion and damage the financial system for years to come.
Open Open Tab April 21, 2009 Provides Information
IMF sees long and severe slowdown
The current global recession is likely to be "unusually long and severe, and the recovery sluggish," the International Monetary Fund has warned.
Open Open Tab April 16, 2009 Provides Information
Poland Asks For $20.5 Billion Credit Line From IMF
Poland became the second country after Mexico to seek access to a new credit line from the International Monetary Fund that's available to strongly performing economies, the IMF said Tuesday. Polish Prime Minister Donald Tusk said in Warsaw on Tuesday that the country was interested in a one-year precautionary arrangement under the IMF's flexible credit line (FCL) for $20.5 billion.
Open Open Tab April 14, 2009 Provides Information
Interest Rates
Mexico Cuts Key Rate To 5.25% As Economy Contracts
The Mexican central bank on Friday cut its key interest rate by 75 basis points to 5.25%, in line with the expectations of economists surveyed by Dow Jones Newswires.
Open Open Tab May 15, 2009 Provides Information
Chile Central Bank Cuts Rates Half-point To 1.25%
The Central Bank of Chile late Thursday cut its benchmark interest rates by 50 basis points -- 25 more than expected -- to 1.25%. One basis point is 1/100th of a percentage point.
Open Open Tab May 7, 2009 Provides Information
Brazil Cuts Rates To Record Low 10.25%
Brazil's central bank late Wednesday cut its benchmark interest rate by 100 basis points to 10.25%, in line with market expectations
Open Open Tab April 29, 2009 Provides Information
New Zealand Cuts Key Rate To Record Low 2.5%
The Reserve Bank of New Zealand cut its official cash rate by 50 basis points Thursday (local New Zealand time), bringing it to a record low 2.5%.
Open Open Tab April 29, 2009 Provides Information
Mexico's Central Bank Cuts Rates More Than Expected
Mexico's central bank cut its benchmark interest rate by 75 basis points to 6.0%, exceeding market expectations of a 50 basis points reduction. The Mexican peso fell 0.6% against the U.S. dollar in the wake of the decision.
Open Open Tab April 17, 2009 Provides Information
Bank keeps interest rates at 0.5%
The Bank of England has kept interest rates on hold at 0.5%, in a widely expected move following a number of rate cuts in recent months.
Open Open Tab April 9, 2009 Provides Information
Low Interest Rates Give Annaly a Leg Up
One fund manager says investors looking to buy stocks, but worried about the impact of recession, should look at a company that actually does well during turbulent times.
Open Open Tab April 8, 2009 Provides Information
Australian Treasurer Asks Banks To Pass Along Rate Cuts
Australian Treasurer Wayne Swan told reporters Monday that he wants banks to pass along to their customers, as much as possible, any future reductions in interest rates. The statement was made to reporters in Canberra a day ahead of the Reserve Bank of Australia's monthly policy rate meeting. Consensus forecasts are that the central bank will cut interest rates by a quarter of a percentage point to 3.0%.
Open Open Tab April 6, 2009 Provides Information
Misc.
Americans Increasingly Skeptical of Obama's Pledge of Fiscal Discipline as Deficit Grows
With each spending proposal President Obama rolls out, the deficit grows astronomically and the American people are growing more concerned.
Open Open Tab June 25, 2009 Provides Information
Bernanke defends Fed on bank deal
The chairman of the Federal Reserve says the US central bank acted with the "highest integrity" in Bank of America's takeover of Merrill Lynch.
Open Open Tab June 25, 2009 Provides Information
Allison: US Financial System Remains Vulnerable
The U.S. financial system remains vulnerable with unemployment rising, house prices falling and commercial real estate problems continuing to build, a key bank bailout fund overseer said Wednesday. "This is why we must remain vigilant," said Herbert Allison, the Treasury's point man for the $700 billion Troubled Asset Relief Fund, in testimony to the Congressional Oversight Panel.
Open Open Tab June 24, 2009 Provides Information
Buffett Says Inflation a Concern, But Supports Obama Fiscal Policy
Berkshire Hathaway Chairman Warren Buffett said Wednesday inflation is a concern but that he supports U.S. fiscal policy under President Barack Obama.
Open Open Tab June 24, 2009 Provides Information
Citigroup Boosting Salaries to Offset Lower Bonuses
Citigroup Inc. is increasing base salaries for many of its employees -- reportedly by as much as 50 percent for some workers -- as it restructures its compensation program amid new restrictions on bonus payments.
Open Open Tab June 24, 2009 Provides Information
Credit Suisse, Deutsche Bank Settle With Huntsman
The securities units of Credit Suisse Group and Deutsche Bank AG said Tuesday they agreed to settle a lawsuit filed by Huntsman Corp. that faulted them for a failed merger.
Open Open Tab June 23, 2009 Provides Information
FDIC Eyes Extension To Unlimited Deposit Insurance
The Federal Deposit Insurance Corp. on Tuesday proposed extending a program that provides unlimited deposit insurance for non-interest-bearing deposits by six months. The coverage was set to expire Dec. 31, 2009, but the agency extended it to June 30, 2010, seeking to calm fears of large businesses that have significant business customers that keep large deposit accounts at banks for their payrolls.
Open Open Tab June 23, 2009 Provides Information
Congress Seeks More Data From Fed On Merrill Deal
A key congressional committee on Friday issued a second subpoena to the Federal Reserve seeking further documents about closed-door discussions about the regulator's involvement in Bank of America's controversial acquisition of Merrill Lynch & Co. The panel, the House Oversight and Government Reform Committee, is having Fed Chairman Ben Bernanke testifying June 25 about allegations from Bank of America Chief Executive Kenneth Lewis that government officials pressed him to buy Merrill Lynch after he became aware of major losses at the investment bank.
Open Open Tab June 19, 2009 Provides Information
Obama Administration Unveils Financial Regulation Overhaul
The plan would give new powers to the Federal Reserve to oversee the entire financial system and would also create a new consumer protection agency to guard against the types of abuses that played a big role in the current crisis.
Open Open Tab June 17, 2009 Provides Information
Summers Says New Financial Rules Mean More Capital
A sweeping set of U.S. financial regulations proposed on Wednesday will pump more capital into the financial system and improve regulators' accountability, top White House aide Larry Summers said in an interview on CNBC.
Open Open Tab June 17, 2009 Provides Information
Hedge Fund Turmoil Continued During 1Q; Nearly 400 Liquidations
Hedge-fund liquidations continued at a breakneck pace during the first three months of 2009, but cooled off from the record number of collapses seen during the market meltdown at the end of last year.
Open Open Tab June 16, 2009 Provides Information
Recession Will End In Third Quarter: Bankers Group
The economic recession in the U.S. will end during the third quarter, although unemployment and federal deficits will continue to weigh, economists for the American Bankers Association said Tuesday.
Open Open Tab June 16, 2009 Provides Information
Fed Issues First of New Monthly Reports on Rescue Programs
Starting Wednesday, the Federal Reserve will begin releasing a monthly report on its finances, including details of the multiple emergency credit and liquidity programs it launched in the last year to help stabilize the financial system.
Open Open Tab June 10, 2009 Provides Information
Geithner Says to "Streamline" Regulatory Structure
U.S. Treasury Secretary Timothy Geithner said on Tuesday he would soon revamp the country's regulatory system to prevent a repeat of excessive risk-taking that has tipped it into a severe recession.
Open Open Tab June 9, 2009 Provides Information
Morgan Stanley Launches Investment Consulting Firm
Morgan Stanley Smith Barney LLC said Monday it has formed Graystone Consulting, an investment consulting service for institutional investors and the upper-tier private wealth market. Graystone is an outgrowth of Citi Institutional Consulting, which was created in 2006.
Open Open Tab June 8, 2009 Provides Information
Time Warner to split off AOL
Time Warner CEO Bewkes calls separation 'best outcome' for both comp
Open Open Tab May 28, 2009 Provides Information
Geithner Says Must Let Market Forces Work
Treasury Secretary Timothy Geithner said on Thursday that a bailout for banks was steadying the financial system but care must be taken to ensure that normal market forces are allowed to operate.
    May 21, 2009 Provides Information
Geithner: Big Spending Was Unavoidable
Treasury Secretary Timothy Geithner defended the Obama Administration’s fiscal policy on Thursday, saying deficit spending was unavoidable until the U.S. economy stabilizes.
Open Open Tab May 21, 2009 Provides Information
Obama Economic Panel Moves Into the Spotlight
At a meeting of his Economic Recovery Advisory Board on Wednesday, President Barack Obama said unemployment is one of his main concerns even assuming the economy begins to stabilize in the near future.
    May 20, 2009 Provides Information
Obama Signs Bill To Provide $500 Billion For FDIC
President Barack Obama on Wednesday afternoon signed into law two major housing bills, one of which would allow the Federal Deposit Insurance Corp. to temporarily borrow as much as $500 billion from the Treasury Department to protect the deposits of bank customers.
Open Open Tab May 20, 2009 Provides Information
Geithner: No plans to cap executive pay
Financial sector executives should not fear government imposed caps on their salaries even as the Obama administration moves to influence how firms pay their employees. Treasury Secretary Timothy Geithner said Monday that government should place "broad constraints" on the incentives that huge pay packages create for executives to take short-term risks.
Open Open Tab May 18, 2009 Provides Information
No Rush To Tighten, Fed Stern Says
The Federal Reserve does not have to move in the near future to start raising rates, said Gary Stern, the president of the Minneapolis Federal Reserve district bank on Friday.
Open Open Tab May 15, 2009 Provides Information
Globe Saved, But Its Obituary Is Written
When Marty Baron arrived on Morrissey Boulevard as the Boston Globe's new editor in July 2001, legend has it the first thing he said about the paper was: "There are too many columnists here."
Open Open Tab May 6, 2009 Provides Information
Commercial Mortgage Debt Returns 13.2% In April
Highly-rated commercial mortgage-backed securities, or CMBS, returned 13.2% last month, as signs that the depths of the recession may be past, encouraging investors to take on more risky assets, including bonds with below-investment grade ratings, according to Bank of America-Merrill Lynch, whose bond indexes are benchmarks for many fixed-income investors.
Open Open Tab May 4, 2009 Provides Information
Flu Already Touching Economy, Romer Says
Uncertainty about the spreading swine flu virus is already impacting the economy, said Christina Romer, a top economic adviser for President Barack Obama. Romer said it is too soon to gauge the economic consequences of the virus.
Open Open Tab April 30, 2009 Provides Information
Bernanke Encourages Regulation Supporting Innovation
Federal Reserve Chairman Ben Bernanke delivered a prepared speech on the topic of financial innovation and consumer protection at the Federal Reserve community affairs research conference in Washington D.C. on Friday.
Open Open Tab April 17, 2009 Provides Information
What The EPA's Ruling Means For Business
The decision on CO2 emissions is likely a boon for cleantech; critics fear huge risk to the U.S. economy.
Open Open Tab April 17, 2009 Provides Information
When you’re flush, but acting flat broke
Even those whose jobs are safe are spending less, which holds down growth
    April 16, 2009 Provides Information
EBay Plans IPO For Skype Unit
EBay Inc. said Tuesday afternoon that it is planning an initial public offering for its Skype Internet telephony unit. In a statement, eBay said it plans to complete the offering in the first half of next year, though specific timing will depend on market conditions.
Open Open Tab April 14, 2009 Provides Information
Obama Defends Administration's Expensive Actions, Sees "Difficult" 2009
In a broad speech explaining all of his Administration’s expensive actions on the economy, President Barack Obama said Tuesday that he had to confront the economy “on all fronts” to repair and stave off what could have been a “vicious economic downturn.”
    April 14, 2009 Provides Information
Union Group Presses For Clawback Of Merrill Lynch Bonuses
CtW Investment Group, which works for several union pension funds that hold a lot of Bank of America stock, on Tuesday sent a letter to Bank of America demanding that the firm claw back all bonuses of $1 million or more paid to Merrill Lynch employees.
Open Open Tab April 7, 2009 Provides Information
Asian Business Watch
Asian business and financial news, special reports and economic trends.
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Bank of America Market Research
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Profits and/or Losses - Earnings
Apollo Third-quarter Profit Up To $1.26 a Share
Apollo Group Inc. said late Monday that its fiscal third-quarter profit rose to $201.1 million, or $1.26 a share, from $139.1 million, or 85 cents a share, in the year-ago period. Revenue increased to $1.05 billion from $835.2 million last year. Analysts surveyed by FactSet Research estimated a quarterly profit of $1.12 a share on revenue of $1.04 billion.
Open Open Tab June 29, 2009 Provides Information
H&R Block Quarterly Income Jumps To $2.09 a Share
H&R Block Inc. late Monday reported a fourth-quarter net income of $706.9 million, or $2.09 a share, compared with a profit of $543.6 million, or $1.66 a share, in the same period last year. Revenue slid to $2.47 billion from $2.54 billion a year earlier. Analysts polled by FactSet projected earnings of $2.06 a share on revenue of $2.53 billion. In 2010, the tax services provider expects adjusted earnings of $1.60 to $1.80 a share.
Open Open Tab June 29, 2009 Provides Information
Tibco Second-quarter Profit Nearly Triples
Tibco Software Inc. said late Thursday that its second-quarter profit rose to $10.1 million, or 6 cents a share, from $3.5 million, or 2 cents a share, in the year-ago period. Excluding one-time items, the company would have reported earnings of 11 cents a share.
Open Open Tab June 25, 2009 Provides Information
Darden Reports Higher Profit
Sales included an extra week of business in the most recent period. Same-restaurant sales for Olive Garden, Red Lobster and LongHorn Steakhouse fell 1.4%. For fiscal 2010, Darden said it expects to earn between $2.59 and $2.85 a share. Darden shares closed at $33 ahead of the report. The stock is up 17% this year.
Open Open Tab June 23, 2009 Provides Information
H.B. Fuller Second-quarter Net Falls To $17.6 Mln
H.B. Fuller Co. said late Tuesday that its fiscal second-quarter profit fell to $17.6 million, or 36 cents a share, from $21.4 million, or 41 cents a share, in the year-ago period. Revenue fell to $299.2 million from $356.8 million last year. Analysts surveyed by FactSet Research estimated a quarterly profit of 28 cents a share on revenue of $311.4 million.
Open Open Tab June 23, 2009 Provides Information
Jabil Circuit Swings To a $28.8 Million Loss
Jabil Circuit Inc. on Tuesday reported a fiscal third-quarter loss of $28.8 million, or 14 cents a share, compared to a profit of $38.4 million, or 19 cents a share, in the same period a year ago. Revenue for the electronics contract manufacturer fell to $2.6 billion from last year's sales of $3.1 billion.
Open Open Tab June 23, 2009 Provides Information
Oracle Profit Slumps, But Tops Wall Street Views
Oracle Corp. said Tuesday its fiscal fourth-quarter net income fell to $1.9 billion, or 38 cents a share, from $2 billion, or 39 cents a share in the same period a year earlier. Revenue for the period ended in May fell 5% to $6.9 billion, Oracle said.
Open Open Tab June 23, 2009 Provides Information
Steel Dynamics Sees Second-quarter Loss
Steel Dynamics Inc. said Friday it estimates a loss of 10 cents to 15 cents a share in the second quarter, but believes the price of flat rolled steel may have reached a bottom. Analysts surveyed by FactSet Research expect a loss of 9 cents a share.
Open Open Tab June 19, 2009 Provides Information
Discover Profits in 2Q as Lawsuit Comes to a Close
Shares of Discover Financial Services rose Thursday after the credit card company reported a fiscal second quarter profit primarily due to a lawsuit settlement.
Open Open Tab June 18, 2009 Provides Information
RIM Earnings Jump In First Quarter
Research In Motion Ltd. said Thursday afternoon that earnings for its first fiscal quarter jumped 33% thanks to strong sales of the company's line of BlackBerry smartphones. For the period ended May 30, RIM said it earned $643 million, or $1.12 a share, compared to earnings of $482.5 million, or 84 cents a share, for the same period the previous year.
Open Open Tab June 18, 2009 Provides Information
Best Buy Q1 Earnings Fall 15% to $153 Million
Big-box retailer says market share gains were "accelerated in March and April" because of Circuit City's liquidation.
Open Open Tab June 16, 2009 Provides Information
National Semiconductor Swing To $63.7 Million Loss
National Semiconductor Corp. on Thursday reported a fiscal fourth-quarter loss of $63.7 million, or 28 cents a share, on revenue of $281 million. Analysts surveyed by Thomson Reuters had forecast National Semi to lose 38 cents a share on $273 million in sales.
Open Open Tab June 11, 2009 Provides Information
Barnes Group Withdraws 2009 Earnings Outlook
Barnes Group late Tuesday said it is withdrawing its 2009 earnings outlook due to increased uncertainty in the transportation sector, which accounts for about one-third of its revenues.
Open Open Tab June 9, 2009 Provides Information
Pall Profit Falls 30% On Weak Industrial Sales
Pall Corp. reported late Monday fiscal third-quarter net income fell to $44.2 million, or 37 cents a share, from $63.3 million, or 51 cents, a year ago. Excluding restructuring costs and other one-time items, the filtration specialist earned 42 cents a share compared with 51 cents a year earlier.
Open Open Tab June 8, 2009 Provides Information
TI Raises Second-Quarter Targets
The Dallas-based chip maker said it now expects revenue in the range of $2.3 billion and $2.5 billion, compared to a previous range of $1.95 billion and $2.4 billion.
Open Open Tab June 8, 2009 Provides Information
Cooper Cos. Second-quarter Profit Rises
Cooper Cos. said late Thursday that its fiscal second-quarter profit rose to $24.6 million, or 54 cents a share, from $11.2 million, or 25 cents a share, in the year-ago period. Revenue increased to $260.6 million from $259.2 million last year.
Open Open Tab June 4, 2009 Provides Information
Guess Rises To Pace Advance In Retail Sector
Guess Inc. shares rose more than 5% to $28.53 early Friday, helping to boost the broader sector after the teen clothing retailer posted better-than-expected quarterly results a day earlier.
Open Open Tab June 5, 2009 Provides Information
Guess Tops Profit Target
Guess Inc. Thursday afternoon reported net earnings for the quarter ended May 2 fell 32% from a year ago. But its profit exceeded analyst expectations and the clothing and apparel maker offered a bright forecast, sending its shares higher in late trading.
Open Open Tab June 4, 2009 Provides Information
SAIC First-quarter Profit Rises
SAIC Inc. said late Wednesday that its first-quarter profit rose to $116 million, or 28 cents a share, from $103 million, or 24 cents a share, in the year-ago period. Revenue rose to $2.65 billion from $2.34 billion last year. Analysts surveyed by FactSet Research estimated a quarterly profit of 27 cents a share on revenue of $2.51 billion.
Open Open Tab June 3, 2009 Provides Information
Lions Gate Annual Loss Widens In 2009
Lions Gate Entertainment Corp. said late Monday that its fiscal 2009 loss widened to $163 million, or $1.40 a share, from $74 million, or 62 cents a share, in the year-ago period.
Open Open Tab June 1, 2009 Provides Information
Dell Earnings Plunge 63% In First Quarter
Dell Inc. said Thursday afternoon that earnings plunged 63% on a sharp drop in PC sales, as well as restructuring charges. For the quarter ended May 1, the PC maker said net income was $290 million, or 15 cents a share, compared to earnings of $784 million, or 38 cents a share, for the same period the previous year.
Open Open Tab May 28, 2009 Provides Information
Costco Profit Just Misses View; Big Lots Tops Expectations
Costco Wholesale Corp posted a lower quarterly profit Thursday that fell just short of Wall Street's expectations, as shoppers cut spending on discretionary items like clothes and jewelry.
Open Open Tab May 28, 2009 Provides Information
J. Crew Profit Drops 33%
Apparel retailer J. Crew Group Inc. reported late Thursday fiscal first-quarter net income fell to $20.4 million, or 32 cents a share, from $30.5 million, or 48 cents, a year ago. Severance and asset writedowns trimmed about 2 cents a share from the bottom line.
Open Open Tab May 28, 2009 Provides Information
Marvell Technology Swings To a Loss
Marvell Technology on Thursday reported a fiscal first-quarter loss of $39.5 million, or 6 cents a share, compared with a profit of $69.9 million, or 11 cents a share, for the year earlier period.
Open Open Tab May 28, 2009 Provides Information
Novell Second-quarter Profit More Than Doubles
Business software provider Novell Inc. said Thursday its fiscal second-quarter net income rose to $15.6 million, or 5 cents a share, from $5.9 million, or 2 cents a share in the same period a year earlier. Waltham, Mass.-based Novell said revenue for the period ended in April fell to $215.6 million from $235.7 million.
Open Open Tab May 28, 2009 Provides Information
Donaldson Third-quarter Profit Falls
Donaldson Co. said late Tuesday that its fiscal third-quarter profit fell to $26.6 million, or 34 cents a share, from $46 million, or 57 cents a share, in the year-ago period.
Open Open Tab May 26, 2009 Provides Information
Take-Two Swings To a Loss In Second Quarter
For the quarter ended April 30, Take-Two reported a net loss of $10.1 million, or 13 cents a share, compared to earnings of $98.2 million, or $1.29 per share, for the same period the previous year. Excluding charges related to stock-option expenses and some one-time items, the company said it would have lost $2.9 million, or 4 cents a share, in the recent quarter.
Open Open Tab May 26, 2009 Provides Information
Autodesk posts 1Q loss, plans job cuts
Design and engineering software maker Autodesk Inc. posted a net loss for its fiscal first quarter Thursday, hurt by a sharp revenue drop, goodwill impairment and restructuring charges.
Open Open Tab May 21, 2009 Provides Information
Citi Sees S&P 500 Earnings Up 10% In 2010
Citigroup Inc. raised its earnings estimate by 10% for the S&P 500 next year, the bank said Thursday in a note to clients. The bank reiterated a $51 operating earnings per share for 2009, and beefed-up its guidance for 2010 from $54 to $56, and believes it will jump 14% to $64 in 2011.
Open Open Tab May 21, 2009 Provides Information
Gap Profit Falls Nearly 14%
Across the board geographic weakness, especially at its Old Navy stores in North America, dragged down Gap Inc.'s first-quarter profit, the apparel retailer said Thursday.
Open Open Tab May 21, 2009 Provides Information
Lenovo Profit Down Again as High-end Sales Suffer
Lenovo posted a greater quarterly net loss than in the previous three months as the world's fourth-biggest PC vendor began restructuring and continued to suffer from weak demand for high-end products.
Open Open Tab May 21, 2009 Provides Information
Sears Swings To First-quater Profit; Shares Rise
Sears Holdings Corp. said late Thursday that it swung to a first-quarter profit of $26 million, or 21 cents a share, from a loss of $56 million, or 43 cents a share, in the year-ago period.
Open Open Tab May 21, 2009 Provides Information
Computer Sciences Posts Higher Quarterly Profit
Computer Sciences Corp. on Wednesday reported a fiscal fourth-quarter profit of $382.3 million, or $2.51 a share, compared with a profit of $181.7 million, or $1.15 a share, for the year-earlier period.
Open Open Tab May 20, 2009 Provides Information
Limited Brands Posts Surprise Profit
Limited Brands Inc. , owner of Victoria's Secret and Bath & Body Works, late Wednesday reported net income dropped to $2.6 million, or 1 cent a share, for its first quarter. Analysts surveyed by FactSet had expected a loss of 4 cents. Sales slid 10% to $1.7 billion.
Open Open Tab May 20, 2009 Provides Information
PetSmart Soars Past Earnings Expectations
A lot of people are continuing to spend big money on their pets in the down economy, though a lot of furry friends are getting left behind.
Open Open Tab May 20, 2009 Provides Information
Target CFO Sees 2Q Profit Estimates "achievable"
Target Corp. Chief Financial Officer Doug Scovanner said Wednesday Wall Street's profit expectations of 63 cents a share for the second quarter and $1.46 for the year seem "achievable" even though he cautioned that "meeting or exceeding estimates "remains challenging.
Open Open Tab May 20, 2009 Provides Information
Analog Devices' Second-quarter Profit Tumbles
Analog Devices late Tuesday reported its second-quarter net income fell to $51.8 million, or 18 cents a share, from a net income of $133.1 million, or 45 cents a share, in the year-earlier period.
Open Open Tab May 19, 2009 Provides Information
HP profit drops 17 pct; PC, ink sales stumble
Hewlett-Packard Co.'s quarterly profit dropped 17 percent on lighter sales in two key areas, personal computers and printer ink, in a sign that the woes in consumer technology spending have dragged on beyond the miserable holiday season.
    May 19, 2009 Provides Information
Phillips-Van Heusen First-quarter Profit Falls
Phillips-Van Heusen Corp. said late Tuesday that its first-quarter profit fell to $24.7 million, or 48 cents a share, from $46.8 million, or 90 cents a share, in the year-ago period.
Open Open Tab May 19, 2009 Provides Information
D&H Distributing Sees 6% Sales Growth in Q4 2009
Attributes growth to identifying emerging technologies and its services and support.
Open Open Tab May 18, 2009 Provides Information
Lowe's Raises Forecast as Profit Tops View
Lowe’s posted a better-than-expected profit and boosted its outlook for the year, sending shares higher on Monday.
    May 18, 2009 Provides Information
Panasonic slumps to $4 billion yearly loss
Panasonic Corp. slumped deep into the red last fiscal year, joining the expanding club of big Japanese brands shellshocked by their rapid descent from cash cow to money loser.
Open Open Tab May 15, 2009 Provides Information
Blockbuster Profit Declines 39% On Items
Home video rental chain Blockbuster Inc. said its first-quarter profit declined 39% on costs related to store closures, job cuts and other items, as well as decreased sales at its U.S. stores.
Open Open Tab May 14, 2009 Provides Information
Sony reports $1 billion annual loss
Sony lost 165 billion yen ($1.72 billion) in the quarter that ended March 31, the fourth quarter of its fiscal year, compared with net income of 29 billion yen in the year-ago period.
Open Open Tab May 14, 2009 Provides Information
Vivendi's Profit Fell 14%, Outlook Confirmed
French telecoms, media and gaming giant Vivendi SA on Thursday posted a 14% drop in first-quarter net income to 477 million euros, or 0.40 euro a share, from 555 million euros, or 0.47 euro a share, earned in the year-earlier quarter.
Open Open Tab May 14, 2009 Provides Information
New element found to be a superconductor
Of the 92 naturally occurring elements, add another to the list of those that are superconductors.
Open Open Tab May 13, 2009 Provides Information
Whole Foods Profit Down 32%, Sales Flat
Whole Foods Market late Wednesday reported net income fell 32% to $27.3 million, or 19 cents a share, for its fiscal second quarter. Analysts polled by FactSet Research had expected 18 cents a share. A year ago, Whole Foods posted net income of $40 million, or 29 cents a share.
Open Open Tab May 13, 2009 Provides Information
Applied Materials Notches Another Loss
Semiconductor-equipment maker Applied Materials weighed in Tuesday with its second-straight quarterly loss amid a 53% plunge in revenue and “exceptionally weak demand” for its products.
Open Open Tab May 12, 2009 Provides Information
BMC Software Profit Slips As Sales Grow 3%
BMC Software Inc. said Tuesday its fiscal fourth-quarter net income fell to $83 million, or 45 cents a share, from $97 million, or 50 cents a share in the same period a year earlier.
Open Open Tab May 12, 2009 Provides Information
Budget Falls Into Red In April 1st Time Since 1983
With the recession undermining income-tax receipts, the U.S. government recorded a $20.9 billion deficit last month, the first April deficit in 26 years, the Treasury Department reported Tuesday.
Open Open Tab May 12, 2009 Provides Information
Japan's NEC reports 3.05 bln dollar annual loss
Japanese electronics giant NEC Corp. announced Tuesday a net loss of 296.6 billion yen (3.05 billion dollars) for the year to March due to the global economic downturn.
Open Open Tab May 12, 2009 Provides Information
Dish Network 1Q profit rises 21 percent
Dish Network Corp., the second-largest satellite TV provider in the U.S., surprised investors Monday by posting first-quarter results that were not as bad as feared. Earnings rose by 21 percent on the back of price increases and lower costs.
    May 11, 2009 Provides Information
MBIA Posts Hefty Profit In First Quarter
MBIA Inc. late Monday reported a first-quarter net income of $701 million, or $3.34 a share, after adjusting for preferred stock dividends of MBIA Insurance Corp.
Open Open Tab May 11, 2009 Provides Information
McDermott Profit Falls 37%
Engineering and construction company McDermott International, Inc. reported late Monday first-quarter net income fell to $77.7 million, or 33 cents a share, from $123.2 million, or 54 cents, a year ago.
Open Open Tab May 11, 2009 Provides Information
Winn-Dixie Posts Higher Profit; Outlook Raised
Supermarket-chain Winn-Dixie Stores Inc. late Monday reported fiscal third-quarter net income of $16.6 million, or 30 cents a share, up from $15 million, or 28 cents a share, in the year-ago period.
Open Open Tab May 11, 2009 Provides Information
Berkshire Hathaway Swings to Loss on Falling Revenue, Investments
Berkshire Hathaway swung to a loss in its first quarter on investment losses and as revenue fell, and the company said it expected the economic downturn to continue at least for the rest of the year.
Open Open Tab May 8, 2009 Provides Information
Telecom Italia's Quarterly Profit Slips 5%
Telecom Italia on Thursday said first-quarter net income fell 5% to 463 million euros ($615 million) from 485 million euros earned in the year-earlier period. Sales fell 7% to 6.8 billion euros. The group confirmed its outlook for 2009.
Open Open Tab May 7, 2009 Provides Information
Alcatel-Lucent net loss widens in 1Q
Alcatel-Lucent's net loss widened in the first quarter as sales of both wireless and wireline communications gear continued to fall in all major markets amid the global economic downturn.
Open Open Tab May 6, 2009 Provides Information
Expeditors' Profit Slides To 27 Cents a Share
Expeditors International late Wednesday reported a first-quarter profit of $59.4 million, or 27 cents a share, down from $66.5 million, or 30 cents a share, a year ago.
Open Open Tab May 6, 2009 Provides Information
Garmin sees drop in first-quarter earnings
Slower consumer spending and lower demand from retailers led to Garmin's "most challenging quarter" since going public in 2000, the GPS device maker's CEO said Wednesday.
Open Open Tab May 6, 2009 Provides Information
Murphy Oil Profit More Than Halved
Murphy Oil Corp. reported late Wednesday first-quarter earnings fell to $171.1 million, or 89 cents a share, from $409 million, or $2.14 cents a share, a year ago.
Open Open Tab May 6, 2009 Provides Information
Planar Reports $2.7M Loss for Fiscal Q2 2009
The "lower-than-anticipated" loss is down from $5.2 million loss in Q2 2008.
Open Open Tab May 6, 2009 Provides Information
Post office has $1.9 billion loss in quarter
The post office was $1.9 billion in the red for the second quarter of the fiscal year and continues to face the possibility of running out of money before year's end.
Open Open Tab May 6, 2009 Provides Information
Sunoco Swings To Profit
Independent petroleum refiner Sunoco Inc. reported late Wednesday first-quarter earnings rose to $12 million, or 10 cents a share, from a year-ago loss of $59 million, or 50 cents a share. Revenue for the three months ended March 31 fell to $6.44 billion from $12.81 billion.
Open Open Tab May 6, 2009 Provides Information
Tesoro Swings To Profit
Independent oil refiner Tesoro Corp. said late Wednesday it swung to a first-quarter profit of $51 million, or 37 cents a share, from a loss of $82 million, or 60 cents a share, a year ago.
Open Open Tab May 6, 2009 Provides Information
Centex Fourth-quarter Loss Narrows
Centex Corp. said late Tuesday that its fiscal fourth-quarter loss narrowed to $402.8 million, or $3.24 a share, from $910.5 million, or $7.36 a share, in the year-ago period. Revenue fell to $823.2 million from $2.31 billion last year.
Open Open Tab May 5, 2009 Provides Information
Belden Reports $33M Net Loss for Fiscal Q1 2009
Revenue for Q1 2009 drops to $328.5 million from $511.8 million in Q1 2008.
Open Open Tab May 4, 2009 Provides Information
D.R. Horton Narrows Loss In Second Quarter
D.R. Horton Inc. late Monday reported it lost $108.6 million, or 34 cents a share in the second quarter, narrowing from a loss of $1.31 billion, or $4.14 a share in the same quarter last year.
Open Open Tab May 4, 2009 Provides Information
McKesson Profit Dips Slightly, Sales Stay Flat
Health-care services company McKesson Corp. on Monday reported a fourth-quarter profit of $281 million, or $1.01 a share, down from $307 million, or $1.05 a share, a year ago.
Open Open Tab May 4, 2009 Provides Information
MGM First-quarter Profit Falls To 38 Cents a Share
MGM Mirage said late Monday that its first-quarter profit fell to $105.2 million, or 38 cents a share, from $118.3 million, or 40 cents a share, in the year-ago period.
Open Open Tab May 4, 2009 Provides Information
Netsuite reports Q1; CEO calls growth "impressive"
NetSuite, which makes Web-based business software, reported a first quarter net loss of $3.7 million, or 6 cents per share, on sales of $41.6 million, a 22 percent increase over the year-ago quarter. Excluding items, the company reported a first quarter profit of $1 million, or 2 cents per share. Wall Street analysts had been expecting a break-even quarter.
Open Open Tab May 4, 2009 Provides Information
Principal Financial Profit Falls
Principal Financial Group said on Monday that its first quarter profit slipped to $121 million, or 43 cents a share, compared to $182.4 million, or 67 cents a share a year ago
Open Open Tab May 4, 2009 Provides Information
Sprint blames economy for Q1 customer losses
Sprint Nextel is blaming the economy for a steep decline in subscribers, though its prepaid and wholesale businesses are seen as important growth areas as the company faces stiff competition.
Open Open Tab May 4, 2009 Provides Information
Comcast 1Q profit up 6 percent on new customers
Shares of Comcast Corp. rose Thursday after the nation's largest cable TV provider reported a 6 percent increase in first-quarter earnings and said it gained more subscribers than expected, without having to do much discounting.
    April 30, 2009 Provides Information
Hartford Reports Quarterly Net Loss Of $1.21 Bln
Hartford Financial Services reported a first-quarter net loss of $1.209 billion, or $3.77 a share, late Thursday. That compares to first-quarter net income of $145 million, or 46 cents a share, a year earlier.
Open Open Tab April 30, 2009 Provides Information
Maxim Integrated Swings To Third-quarter Loss
Maxim Integrated Products on Thursday reported third-quarter loss of $26.4 million, or 9 cents a share, compared with a profit of $61 million, or 19 cents a share for the year-earlier period.
Open Open Tab April 30, 2009 Provides Information
MetLife Reports Quarterly Net Loss Of $574 Million
MetLife Inc. reported a first-quarter net loss of $574 million, or 71 cents a share, late Thursday. That compares to net income of $615 million, or 84 cents a share, a year earlier. Operating earnings, which exclude net realized investment gains and losses, were $159 million, or 20 cents a share, in the latest period.
Open Open Tab April 30, 2009 Provides Information
QLogic Earnings Fall 16% In Fourth Fiscal Quarter
QLogic Corp. saw earnings slip 16% in its fourth fiscal quarter as sales declined across all the company's networking businesses.
Open Open Tab April 30, 2009 Provides Information
AOL Ad Revenue Plummets in Q1
AOL's ad revenue fell 20 percent in the first quarter year-on-year, another troubling sign that its transformation into an advertising-supported business is off track.
Open Open Tab April 29, 2009 Provides Information
Emulex' earnings fall as it fights off Broadcom
Emulex has announced figures showing a fall in third quarter earnings and a loss, emphasising its weak position facing the Broadcom bid.
Open Open Tab April 29, 2009 Provides Information
JDS Uniphase Third-quarter Loss Widens
JDS Uniphase Corp. said late Wednesday that its fiscal third-quarter loss widened to $85.2 million, or 40 cents a share, from $6.2 million, or 3 cents a share, in the year-ago period.
Open Open Tab April 29, 2009 Provides Information
LSI Loss Widens, Though Sales Top Estimates
LSI Corp. said Wednesday its first-quarter net loss widened compared to the period a year earlier, as sales fell 27%. The semiconductor and software company said its net loss for the period ended in April was $104 million, or 16 cents a share, compared to a net loss of $14 million, or 2 cents a share in the period last year.
Open Open Tab April 29, 2009 Provides Information
Qwest 1Q earnings rise 37 pct after cost cuts
First-quarter earnings at Qwest Communications International Inc. rose 37 percent, as the phone company was helped by cost-cutting and a lower tax rate.
    April 29, 2009 Provides Information
STMicroelectronics First-quarter Loss Widens
STMicroelectronics NV said late Wednesday that its first-quarter loss widened to $541 million, or 62 cents a share, from $84 million, or 9 cents a share, in the year-ago period.
Open Open Tab April 29, 2009 Provides Information
Unum Reports Quarterly Net Income Of $164.9 Mln
Unum Group said late Wednesday that first-quarter net income came in at $164.9 million, or 50 cents per common share, up slightly from a year earlier when the disability benefits company made $163.1 million, or 46 cents per common share.
Open Open Tab April 29, 2009 Provides Information
EarthLink profits as subscriber loss slows slightly
EarthLink beat analyst expectations for the first quarter of 2009 as fewer customers dumped its Internet service.
Open Open Tab April 28, 2009 Provides Information
VF Profit Down 32%, Outlook Cut
VF Corp. , maker of Wrangler jeans and North Face apparel, late Tuesday reported its net income fell 32% from a year ago due to higher pension costs and a stronger U.S. dollar.
Open Open Tab April 28, 2009 Provides Information
DRAM Maker Elpida Forecasts Big Full Year Loss
Japan's Elpida Memory made a massive loss in the year to March 31 due to falling DRAM prices, according to preliminary figures published Monday.
Open Open Tab April 27, 2009 Provides Information
Japan's Sharp reports 1.3 bln dollar annual loss
Japanese electronics giant Sharp Corp. announced an annual net loss of 1.3 billion dollars, its first ever, due to a slump in sales, but it forecast a return to profit this year.
Open Open Tab April 27, 2009 Provides Information
InFocus Loses $8.1M in Fiscal Q1 2009
Projector maker lost $1.8M for same three-month period in 2008.
Open Open Tab April 27, 2009 Provides Information
Qualcomm posts 2nd-qtr loss on legal settlement
Qualcomm Inc. posted a fiscal second-quarter loss Monday on a hefty payment to rival chip maker Broadcom Corp. to end legal disputes that spanned several continents.
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