Investors banking on toxic plan
Wall Street's attempt to recover further from 12-year lows faces its biggest test yet this week in the Treasury's long-delayed bank rescue plan.
U.S. seeks to woo investors with toxic asset plan
The United States on Monday offered generous financing for private investors to help cleanse banks of up to $1 trillion in toxic assets that are blocking lending and worsening a deep U.S. recession.
Options on the table for new Central Credit Union chief
Several options are on the table about what to do after the government seized the nation’s largest U.S. corporate credit union, which had taken on an unacceptably high set of risky investments.
Systemic risk still a problem? Obama says ‘Yes’
President Barack Obama said he believes systemic risks are still to be found in the financial system as he discussed an upcoming plan to be issued by his administration to take “toxic assets” off the balance sheets of financial companies in an interview.
Public Investment Corp, the new name of gov’t toxic assets firm
The U.S. government will create an entity called Public Investment Corp. that will draw upon the resources of government agencies and private investors to buy risky loans and other assets which investors have shied away from purchasing, according to a report.
AIG rivals met Bernanke to complain: report
Some of American International Group Inc's biggest rivals have urged U.S. Federal Reserve Chairman Ben Bernanke to prevent the insurance giant from using the government rescue to win an advantage, particularly by cutting prices, The Wall Street Journal reported.
Japan's MUFG says to cut more outlets, workers
Mitsubishi UFJ Financial Group , Japan's biggest bank, said on Monday it plans to close 50 more outlets and cut 1,000 jobs to continue slimming down its operations after its merger, as a tumbling stock market depletes its earnings.
ECB could cut rates, take other steps: Trichet
European Central Bank President Jean-Claude Trichet said on Monday the bank can cut interest rates further but that its deposit rate was already at very low levels, and added it could use more non-conventional measures to help the troubled banking system.
ECB could cut rates, use other measures: Trichet
European Central Bank President Jean-Claude Trichet said on Monday the bank could interest rates further but that its deposit rate was already at very low levels, and added it could use more non-conventional tools to help the troubled banking system.
Geithner says need private-sector help: report
U.S. Treasury Secretary Timothy Geithner said on Sunday that help from the private sector was critical to get toxic assets off banks' balance sheets and help resolve a credit crisis.
Daimler capital hike to make Abu Dhabi biggest investor
Daimler will raise 1.95 billion euros ($2.67 billion) in fresh capital through the sale of a 9.1 percent stake to Abu Dhabi's Aabar Investments PJSC , the two companies said on Sunday.
Stock futures rise on toxic asset plan reports
S&P 500 stock index futures rose in electronic trading on Sunday after media reports detailed the U.S. Treasury's three-pronged bid to cleanse the financial system of toxic assets clogging banks' balance sheets.
Treasury to detail toxic assets plan on Monday
U.S. Treasury Secretary Timothy Geithner will announce details on Monday of the Obama administration's plans for removing so-called toxic assets from the banking system by enlisting private investors in the effort, the Treasury Department said on Sunday.
Futures rise on toxic asset plan reports
S&P 500 stock index futures rose at the start of electronic trading on Sunday after media reports detailed the U.S. Treasury's three-pronged bid to cleanse the financial system of toxic assets clogging banks' balance sheets.
Treasury to unveil incentives for private capital
The U.S. Treasury Department is planning to give private capital groups more details on Sunday about incentives the government will provide to ensure their participation in a plan to buy up banks' troubled assets, a source familiar with the matter said.
GM bondholders raise concerns with U.S. auto panel
Bondholders holding some $27 billion of General Motors Corp debt on Sunday sent a letter raising urgent concerns about GM's stalled debt restructuring talks to the White House task force overseeing federal funding for the automaker's turnaround effort.
Wall St Week Ahead: Investors banking on toxic plan
Wall Street's attempt to recover further from 12-year lows faces its biggest test yet this week in the Treasury's long-delayed bank rescue plan.
AIG starts makeover, changes sign at NY office
Workmen rolled up their sleeves at American International Group Inc this weekend to take down the most prominent sign at the downtown Manhattan offices of the embattled insurer that has become the scorn of America.
GM bondholders raise concerns with U.S. task force
Bondholders holding some $27 billion of General Motors Corp debt on Sunday sent a letter to the White House task force overseeing the bailout of the auto industry, to register concern with the lack of progress in GM's debt restructuring talks.
SocGen gives up stock options
Bosses at French bank Societe Generale gave up their stock options and the government said it might give new funds to support youth employment on Sunday in moves aimed at calming public discontent.
In credit drought, U.S. car dealers battle to survive
Deep in the last stronghold of the struggling U.S. auto industry, Rosario Criscuolo says he owes the survival of his business to Toyota Motor Corp .
SocGen bosses give up stock options after outcry
French bank Societe Generale said on Sunday four of its bosses would give up stock options they had awarded themselves earlier this month causing public outcry because the bank is benefiting from state aid.
Wall St Week Ahead: Investors banking on toxic-asset plan
Wall Street's attempt to recover further from 12-year lows faces its biggest test yet this week in the Treasury's long-delayed bank rescue plan.
China still welcomes foreign investment: minister
China's commerce minister said on Sunday that the country was still open to foreign investment after the government rejected Coca-Cola's $2.4 billion bid to buy top Chinese juice maker Huiyuan .
Starbucks, Costco and Whole Foods team up on labor bill
Starbucks, Costco Wholesale Corp and Whole Foods Market are joining forces to propose alternatives to a bill that makes it easier for workers to unionize but is strongly opposed by U.S. corporations.
Credit union victim of soured mortgage market
Regulators worked on Saturday to assess troubles at the largest U.S. corporate credit union with the aim of keeping liquidity flowing through the nation's 7,800 credit unions.
Treasury to unveil bank rescue bid soon
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.
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.
Washington Mutual sues FDIC for over $13 billion
Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion in connection with the loss of its banking operations, which was acquired by JPMorgan Chase & Co.
U.S. backs Danish PM as next NATO chief: diplomats
The United States has told NATO allies it will back Danish Prime Minister Anders Fogh Rasmussen as the next head of the alliance, NATO diplomats and a U.S. source said on Saturday.