UNITED STATES

Treasury to unveil bank rescue bid soon

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The U.S. government will roll out next week a three-pronged bid to cleanse the U.S. financial system of toxic assets clogging banks' balance sheets, a source familiar with the plan said on Saturday.
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Treasury soon to unveil U.S. bank rescue bid

The U.S. government will roll out next week a three-pronged bid to cleanse the U.S. financial system of toxic assets clogging banks' balance sheets, a source familiar with the plan said on Saturday.
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Xbox 360 sales up 53% in February, ahead of Sony PlayStation

Sales of Microsoft's Xbox 260s in the U.S. in February was up 53 percent from the same month last year, giving the company its biggest non-holiday sales month sales apart from September 2007 when Halo 3 was launched, according NPD Group research firm.
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U.S. bank rescue plan could come on Monday: report

The U.S. government will announce as soon as Monday a long-awaited plan to try to get bad assets off the books of banks, a cornerstone of its efforts to tackle the credit crisis, The Wall Street Journal reported.
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U.S. close to announcing bank rescue plan: report

The U.S. government will announce as soon as Monday a long-awaited plan to try to get bad assets off the books of banks, a cornerstone of its efforts to tackle the credit crisis, The Wall Street Journal reported.
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U.S. seizes top credit union clearing house

U.S. regulators seized control on Friday of U.S. Central Federal Credit Union, a huge wholesale credit union with $34 billion in assets that provides services to nearly every other credit union.
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Nacchio freed indefinitely; seeks high court review

A judge in Denver on Friday set aside her previous order that former Qwest Communications International Chief Executive Joseph Nacchio report to prison on Monday after his attorneys petitioned the U.S. Supreme Court to overturn his 2007 insider trading conviction.
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BofA's Lewis calls bonus tax unfair: memo

Proposed legislation to tax 90 percent of bonuses at companies receiving more than $5 billion in government funds is unfair, Bank of America Corp Chief Executive Kenneth Lewis said in a memo to employees on Friday.
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Commodity sector faces exodus

An exodus of expertise from the natural resources sector following the collapse in commodities prices mean banks and industry could face a shortage of seasoned professionals when demand eventually recovers.
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Temperature rise may trigger West Antarctic thaw

The West Antarctic ice sheet may start to collapse if sea temperatures rise by 5 degrees Celsius (9 degrees Fahrenheit), triggering a thaw that would raise world ocean levels by 5 meters (16 ft), U.S. scientists said.
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U.S. regulator probing 'rampant Ponzimonium'

Hundreds of people in the United States are under investigation for financial scams, many involving Ponzi schemes, a U.S. regulator said on Friday, calling the phenomenon rampant Ponzimonium.
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EU backs stronger IMF, eastern aid lifeline

The European Union on Friday pledged more than $100 billion in new loans to the International Monetary Fund to bail out countries in the global recession and urged the G20 economic powers to help double its funding.
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Rattner says GM, Chrysler may need more aid

Government aid requests from General Motors Corp and Chrysler may rise considerably, a top adviser to President Barack Obama's auto task force said in a Bloomberg Television interview.
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Fiat would not assume debt under alliance: Chrysler

Chrysler LLC said on Friday that Italy's Fiat SpA would not assume any of its debt under a proposed alliance between the automakers, backing down from a claim it had made just a day earlier in a bid to bolster support for the deal.
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China, U.S. trade barbs over WTO piracy case

China and the United States traded blows over entertainment and software piracy Friday as the World Trade Organization formally ruled some Chinese practices were illegal but exonerated it of other complaints.

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