| Obama to sign credit card crackdown into law In a major victory for the president and congressional Democrats, the House of Representatives voted 361-64 to approve the so-called "credit cardholder bill of rights". Taking full ef ...[more] |
| U.S. economy improved, banks need funds: Greenspan "Things have unquestionably improved," Greenspan was quoted as saying in an interview published on Bloomberg's website. "They've improved everywhere in the world. It's remarkable." "T ...[more] |
| World economy out of "free fall" Japan's central bank governor said new data now banished notions of the world's second-biggest economy "falling off a cliff" and Canada's finance minister saw "glimmers of hope." The ...[more] |
| U.S. mass layoffs fell sharply in April: Labor Department The Labor Department said the number of mass layoff actions -- defined as job cuts involving at least 50 people from a single employer -- fell by 221 from the prior month to 2,712 on a season ...[more] |
| "Master of fantasy" Bernanke says economy to heal "Things usually have a way of working out," he told the graduating class of the Boston College School of Law. The U.S. central bank chairman broke no new ground on the outlook for mon ...[more] |
| Most banks will repay TARP by Q4: Morgan Stanley Analysts led by Betsy Graseck, however, said most large banks will repay funds from the Treasury's Troubled Asset Relief Program in the third quarter, while Bank of America Corp () and Citigr ...[more] |
| Fed finalizes Treasury tier 1 capital rule The Fed said it did not make significant changes to an interim rule it adopted when the Treasury launched bank capital injections in October 2008 under the $700 billion Troubled Asset Relief ...[more] |
| U.S. pours $7.5 billion into auto lender GMAC The widely anticipated action is intended to help counter a scarcity of credit that has helped drive sales of domestic cars into a ditch. The Federal Reserve also extended an exemption that w ...[more] |
| OECD sees chance of global recovery by year-end Indicators ranging from U.S. house sales to Chinese exports are beginning to pick up and the global economy is no longer in free fall, he said during a speech to an economic forum. As ...[more] |
| Fed's Rosengren sees U.S. recovery likely subdued Eric Rosengren, in a speech to the Worcester Economic Club, struck a similar tone to recent remarks from other Federal Reserve policy-makers -- namely that economic recovery will not happen o ...[more] |
| Japan says economy may be past the worst The news though did little to lift the mood of investors, who fretted instead over concerns that the United States could lose its top-level AAA credit rating. The concerns weighed on ...[more] |
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