Open Letter To FDIC
Earlier this evening Advanta, which through its FDIC-insured bank Advanta Banc Corp makes credit card loans, declared its intentions to allow its securitization trust to go into early amortization, while concurrently launching a coercive tender offer for the securities issued by the trust.
GM move out of Renaissance Center an option, but no decision
General Motors Corp. is considering all options to cut costs, even moving out of its Detroit headquarters, but no decision has been made, chief executive Fritz Henderson said on Monday.
Icahn says Biogen should weigh splitting in two
Billionaire investor Carl Icahn wants the board of Biogen Idec Inc to consider splitting the biotechnology company into one firm focused on neurology and another focused on cancer.
UK plans smart meter revolution to cut energy cost
Every household in Britain should by 2020 be able to cut its energy bills and carbon footprint using smart meters and handheld devices to control energy use closely, the government said on Monday.
BofA sells Hopu $7.3 billion stake in CCB: report
Hopu Investment Management Co., led by Goldman Sachs Group Inc’s China partner Fang Fenglei, on Tuesday acquired a 5.8 percent stake in China construction Bank Corp for about $7.3 billion from struggling Bank of America Corp, people with knowledge of the matter told Bloomberg.
Strong buyout firms ready to profit from crisis
Cash-rich private equity firms are preparing to deploy newly-raised funds, dispelling some of the gloom in the sector and raising hopes that buy-out deals are in the pipeline.
Frontrunning: May 12
Was it a sucker's rally?
Stock futures higher on BofA sale, Bernanke comments
Stock futures pointed to a higher open on Tuesday after positive comments on the economy and banks from Fed Chairman Ben Bernanke and news Bank of America sold its stake in a Chinese bank to help shore up its balance sheet.
UK telcos face price-savvy consumers
British consumers are expected to cut back even further on their communications spend in the months ahead, a study found, adding additional pressure to telecoms who have already seen profits shrink.
Microsoft CEO says talk of SAP buy are rumors
Microsoft Corp Chief Executive Steve Ballmer on Tuesday said speculation the company may buy German software firm SAP was a 'random rumor.'
Oil rises above $59 to 6-month high
Oil prices rose more than a dollar on Tuesday to a six-month high above $59 a barrel, boosted partly by a weaker dollar and gains on equity markets.
Stock futures show flat to higher open as BofA, Ford eyed
Stock futures pointed to a flat to higher open on Tuesday as investors weighed Bank of America Corp's sale of a stake in a Chinese bank and Ford Motor Co signaled it would take advantage of a recent rally by selling stock to raise cash.
IEA head says no plans to cut oil demand forecast
The International Energy Agency (IEA) is unlikely to reduce its oil demand forecast in its next report, its chief said on Tuesday.
Alpha Natural to buy Foundation Coal for $2 billion
Alpha Natural Resources Inc said it agreed to buy Foundation Coal Holdings Inc for $2 billion in stock in a deal that would create the third-largest coal producer in the United States.
Nissan posts $2.4 billion loss
Nissan Motor Co lost $2.4 billion in the fourth quarter amid a global slump in car sales, and forecast more losses this year as it looks to conserve cash by putting product launches and growth plans on hold.
CME ready for green derivatives push
CME Group, the world's largest derivatives exchange, is gearing up for a U.S. cap-and-trade carbon policy that could mean a boom in green futures and options trade, a top CME official said on Monday.
Stock futures point to flat open as BofA, Ford eyed
U.S. index stock futures pointed to a nearly flat open on Tuesday, as investors eyed Bank of America's sale of a stake in a Chinese bank and Ford signaled it would take advantage of a recent rally by selling stock to raise cash.
U.S. climate bill unlikely to pass this year: experts
U.S. climate change legislation is unlikely to pass this year due to concerns about the recession and contention over the implementation of the program, according to energy and carbon market experts.
Solar gloom overshadows Q-Cells and Solon
A lack of project funding threatens to undermine the solar industry's already fragile growth prospects, two of the sector's biggest players said on Tuesday, reporting profits that missed market forecasts.
ECX expects to double CO2 trading volume in 2009
The world's largest exchange for trading carbon emission credits expects to more than double its trading volume this year as more companies come to the bourse to manage their environmental costs.
Oil rises above $59 to six-month high
Oil prices rose more than a dollar on Tuesday to a six-month high above $59 a barrel, boosted partly by a weaker dollar and gains on equity markets in Europe.
Vodafone to open network for applications store
Vodafone, the world's largest mobile operator by revenue, plans to launch a mobile online store to sell games, news and travel applications that its customers can buy on whatever model of phone they use.
Bank of America sells $7.3 billion CCB stake: source
Bank of America sold $7.3 billion worth of shares in China Construction Bank on Tuesday, according to a source, just days after a U.S. government stress test found the struggling U.S. bank needed to find $34 billion worth of capital.
Ford to sell 300 million common shares
Ford Motor Co said on Monday that it would sell 300 million common shares and use part of the proceeds to pay off its healthcare obligations to the United Auto Workers under the terms of a recently concluded deal with the union.
Stock futures point to rebound on Wall Street
Stock index futures pointed to a higher open on Wall Street on Tuesday after the previous session's bout of profit taking.
Vodafone to launch software store
Vodafone, the world's largest mobile operator by revenue, plans to launch a store for games, news and travel applications that all its customers can buy, regardless of what model of phone they use.
European stocks rise, oil hits 2009 high
European stocks edged higher while world stocks came off an earlier low and oil hit its highest level in almost six months on Tuesday as expectations grew the worst might be over for the global economy.
Vodafone to launch software applications store
Vodafone, the world's largest mobile operator by revenue, plans to launch a store for games, news and travel applications that all its customers can buy, regardless of what model of phone they use.
Oil rises above $59 to new six-month high
Oil prices edged above $59 a barrel on Tuesday to set a new six-month high, mainly in response to firmer equities and a weaker dollar.
Bank of America sells $7.3 billion CCB stake: reports
Bank of America sold about $7.3 billion worth of shares in China Construction Bank , according to media reports, as the struggling U.S. bank seeks to raise money in the financial crisis.
