financial crisis

Stories 221 - 240 | << Prev   Next >>

Rise in Mergers Signals Fresh Confidence
Rise in Mergers 
Signals Fresh Confidence 
ANALYSIS
Sep 29, 2009 3:00 AM CDT

Rise in Mergers Signals Fresh Confidence

Chief execs becoming more bullish about recovery prospects

(Newser) - Mergers and acquisitions activity is still way down from pre-financial crisis levels, but a recent flurry of big deals suggests America's chief executives are regaining confidence in their own businesses. Recent mergers have involved strategic buys by big companies instead of the debt-fueled private equity buys seen a couple of...

Feds Weigh New Bailouts for Smaller Banks

Congressional Dems on board with plan to help institutions hammered by real estate

(Newser) - With the residential and commercial real-estate markets continuing to hammer smaller US banks, the Treasury and other federal agencies are trying to diagram help for institutions considered too much of a gamble under original bailout terms. Congressional Democrats are “very, very supportive” of such a move, a source tells...

CityCenter: Las Vegas' $8.5B Stimulus Bet

Hotel-casino-condo-shopping behemoth brings 12K jobs, optimism to battered state

(Newser) - A gigantic addition to the Las Vegas Strip is a one-stop stimulus package for a city and state walloped by the recession and an $8.5 billion bet that happy days are near again. With 12,000 jobs, the CityCenter project—a kaleidoscope of condominiums, boutique hotels, shopping, and, of...

In Hong Kong, Palin Blames Big Gov't for Crisis

Former Alaska governor tries to burnish foreign credentials

(Newser) - The global financial crisis was the fault of governments, not corporations, Sarah Palin told investors today at a closed-door talk in Hong Kong. In her first speaking engagement outside North America, the former Alaska governor said that "we got into this mess because of government interference in the first...

US, Europe Clash on Banking Reforms

G-20 agreement on capital requirements likely to remain elusive

(Newser) - The US and Europe are moving further apart on plans for post-financial crisis banking reform ahead of this week's G-20 summit, the Wall Street Journal reports. Both sides agree that banks should be required to keep more capital on hand to cushion them from crises, even at the cost of...

Chase, Bank of America Tweak Overdraft Policies

Will eliminate fees on small overdrafts, cut number of times customers can be hit daily

(Newser) - After squawking by legislators, JPMorgan Chase and Bank of America are changing how they charge overdraft fees, the Wall Street Journal reports. BofA now won’t charge customers if they overdraw their accounts by under $10 in one day; at Chase, it’s $5 or less. Both are also reducing...

Fed Shows Backbone, but Obama Cowers Before Banks

Reining in pay is good politics, good economics: Krugman

(Newser) - Just as the recession wanes and the financial system shows signs of the health, banks are returning to their worst habits, says Paul Krugman. Not only are paychecks soaring to pre-Lehman levels, but the financial sector is using its muscle to block "even the most minimal reforms." While...

Cost-Cutting Companies Target No. 2 Execs

Corporations eliminate second-in-command roles to save on costs

(Newser) - Cost-cutting at American's largest corporations is hitting the executive suite, with CEOs rolling up their sleeves to take on more day-to-day responsibilities and laying off their No. 2s. In the 18 months leading up to June 2009, 40 major companies eliminated COOs or presidents, the Wall Street Journal notes, while...

Congress, BofA Clash Over Merrill Secrets

Bank insists merger talk protected, Towns issues spill deadline

(Newser) - Bank of America claims it doesn't have to produce details about its decision to merge with Merrill Lynch because the conversations are protected by attorney-client privilege. But the chairman of the House Oversight and Government Reform Committee begs to differ, reports the New York Times. The showdown peaked last week...

Merrill's Thain Rues Picking Pricey Office Decor Over Ikea

Former Merrill Lynch CEO denies accelerating bonuses

(Newser) - Merrill Lynch's former CEO issued an apology of sorts for spending $1.2 million—including $35,000 for a commode—to redecorate his office as the firm bottomed out, Bloomberg reports. “We decorated it in the style that Merrill Lynch offices were, which was very, very nice,” John...

New Recession Villain: Warren Buffett's Cell Phone

Oracle of Omaha missed message that may have saved Lehman Brothers

(Newser) - If Warren Buffett knew how to use his cell phone, the financial world might be in better shape, blogs Karen Tumulty of Time. Just before Lehman Brothers collapsed last year, a Barclays executive attempting to rescue the firm with an assist from Buffett left a message on the Oracle of...

8 Days That Shook the Financial World
8 Days That Shook the Financial World
GLOSSIES
Sep 16, 2009 9:35 PM CDT

8 Days That Shook the Financial World

James Stewart on the week that Lehman failed, and meltdown loomed

(Newser) - James Stewart’s reconstruction of the 8 nail-biting days, a year ago, in which the federal government stepped in to stop the collapse of the world financial system—published in the New Yorker this week, just as Fed chief Ben Bernanke was declaring the recession officially over—makes riveting, tense...

Euro Farmers Protest Falling Prices With Huge Milk Dump

800,000 gallons in Belgian field after recession takes big toll

(Newser) - European farmers today dumped 800,000 gallons of milk in a Belgian field, AFP reports, in a protest against a dramatic dive in prices. The group behind the scene says three French farmers committed suicide in the past week over prices, which have fallen by as much as half as...

Obama to Wall Street: Prepare for Reform

(Newser) - President Obama visited Wall Street’s historic Federal Hall today, on the anniversary of Lehman Brothers' collapse, to make the case for the financial regulatory reforms wending their way through Congress. He spoke of the need for “strong rules of the road” for the financial system. “History cannot...

Obama Turns to Wall Street Reform

NY visit will push for "fundamental change" to financial rulebook

(Newser) - As Washington wrangles over what shape health reform might take, President Obama heads to Wall Street today to remind it that financial reform is far from being forgotten, reports the Washington Post. On the one-year anniversary of Lehman Brothers' implosion, the president will push financial overhaul as urgent in order...

Mack Steps Down as Morgan Stanley CEO

Ends tumultuous 4 years, including bank's near collapse

(Newser) - John Mack is stepping down after 4 years as CEO of Morgan Stanley, the bank that nearly succumbed at the height of the financial crisis. Morgan Stanley has seen its reputation suffer in recent years after ill-advised moves into real-estate-backed assets that cost the bank billions, raising questions about Mack's...

Geithner Warns of Long, Hard Road Ahead

Administration a long way from saying 'mission accomplished' on financial crisis

(Newser) - The economy is no longer on the brink of the abyss but there's a long way to go before recovery takes hold, Tim Geithner warned yesterday. The Treasury secretary told a congressional committee that while the financial system is showing signs of better health, regulation of the financial system needs...

Credit Cards Cut Deadbeats More Slack

With unemployment rising, companies modify, reduce debt

(Newser) - With unemployment nearing 10%, credit card companies are doing something once unheard of: forgiving debt, or modifying it in the customer’s favor, the Washington Post reports. Companies are loathe to discuss the practice, lest it inspire more delinquencies, but according to one industry report, roughly 3 million people got...

Greenspan: 'Crisis Will Happen Again'
Greenspan: 'Crisis Will Happen Again'
INTERVIEW
Sep 9, 2009 5:26 AM CDT

Greenspan: 'Crisis Will Happen Again'

Former Fed chairman denies responsibility, blames human nature

(Newser) - Another financial crisis is inevitable "unless somebody can find a way to change human nature," says Alan Greenspan in an interview with the BBC. The former Fed chairman—who has faced stinging criticism for his own role in precipitating the 2008-09 global recession—denied any responsibility for the...

Banks Get Back to Risky Business as Usual

Plans to overhaul regulation losing momentum as banks return to health

(Newser) - Banks that teetered on the edge of extinction last year are returning to their old ways as the shock of the financial crisis fades, the Wall Street Journal reports. The banks are handing out hefty compensation packages again and dealing in the same risky financial instruments that caused last year's...

Stories 221 - 240 | << Prev   Next >>
Most Read on Newser