| Obama vows to act fast on economic stimulus
February 14, 2009 at 6:11 am
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| CHICAGO (Reuters) - President Barack Obama on Saturday hailed congressional approval of a $787 billion economic stimulus bill as a "major milestone on our road to recovery" and vowed to move swiftly to set the plan in motion. |
| Congress sends $787 billion stimulus to Obama
February 14, 2009 at 6:02 am
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| WASHINGTON (Reuters) - The U.S. Congress, handing President Barack Obama a major legislative victory, approved on Friday a $787 billion stimulus bill that aims to rush emergency government spending and tax cuts to a nation in the grip of a severe recession. |
| U.S. auto suppliers seek $18.5 billion in government aid
February 14, 2009 at 3:53 am
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| DETROIT (Reuters) - U.S. auto suppliers submitted a formal request to the U.S. Treasury on Friday for $18.5 billion in emergency funding to avoid a wave of bankruptcies and a deeper crisis in the auto industry. |
| Investors anxious for clarity on bank plan
February 14, 2009 at 12:16 am
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| NEW YORK (Reuters) - With Wall Street veering close to the November bear market lows, the market is likely to be awash with caution next week as investors look for clarity on how the government plans to shore up banks, housing and the economy. |
| Stanford, flamboyant Texan, faces media glare
February 13, 2009 at 11:34 pm
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| BOSTON (Reuters) - Just three weeks ago, Allen Stanford was listed as one of the 100 most influential people in British sport. Now, the Texas billionaire is at the center of the latest investigation by Wall Street regulators. |
| Trump says quitting board of namesake casino group
February 13, 2009 at 11:28 pm
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| NEW YORK (Reuters) - Real estate tycoon Donald Trump said on Friday he has decided to resign from the board of Trump Entertainment Resorts due to disagreements with bondholders who want the casino group to file for bankruptcy. |
| Citi, M. Stanley may pay $3 billion to keep brokers: report
February 13, 2009 at 10:13 pm
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| NEW YORK (Reuters) - Morgan Stanley and Citigroup Inc are preparing to pay $3 billion of retention awards to brokers to keep them from fleeing a brokerage joint venture, the Wall Street Journal said on Friday, citing people familiar with the matter. |
| Obama to unveil foreclosure plan, big lenders wait
February 13, 2009 at 7:36 pm
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| WASHINGTON/NEW YORK (Reuters) - U.S. President Barack Obama will unveil a plan to stem home foreclosures on Wednesday, a spokesman said, and major U.S. lenders said they had stopped foreclosing until details of the program have been firmed up. |
| Stanford, flamboyant Texan, faces media glare
February 13, 2009 at 6:52 pm
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| BOSTON (Reuters) - Just three weeks ago, Allen Stanford was listed as one of the 100 most influential people in British sport. Now, the Texas billionaire is at the center of the latest investigation by Wall Street regulators. |
| PNC pays bonuses to execs after getting TARP money
February 13, 2009 at 6:22 pm
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| NEW YORK (Reuters) - PNC Financial Services Group Inc said on Friday it has awarded bonuses for 2008 to its chief executive and other top officers, becoming the largest recipient of taxpayer money under the government's $700 billion Troubled Asset Relief Program to do so. |
| U.S. auto suppliers seek $18.5 billion in government aid
February 13, 2009 at 5:26 pm
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| DETROIT (Reuters) - U.S. auto suppliers submitted a formal request to the U.S. Treasury on Friday for $18.5 billion in emergency funding to avoid a wave of bankruptcies and a deeper crisis in the auto industry. |
| Salmonella-hit peanut company files for bankruptcy
February 13, 2009 at 5:14 pm
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| NEW YORK (Reuters) - Peanut Corporation of America sought bankruptcy protection on Friday after a salmonella outbreak traced to one of its plants led to one of the biggest product recalls in U.S. history. |
| U.S. companies eye worst quarter in a decade
February 13, 2009 at 2:55 pm
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| NEW YORK (Reuters) - The last quarter of 2008 is set to rack up the steepest decline in earnings for U.S. companies in at least 10 years, as deep write-downs from banks mounted and companies across a wide swath of sectors slashed their outlooks. |
| Big banks place moratorium on some foreclosures
February 13, 2009 at 2:35 pm
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| NEW YORK (Reuters) - Citigroup Inc, JPMorgan Chase & Co, and Morgan Stanley said they had placed a moratorium on foreclosing on some home loans to give the government time to launch a $50 billion mortgage relief program. |
| "Millennial" drivers crave iPods over horsepower
February 13, 2009 at 2:00 pm
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| CHICAGO (Reuters) - Tech-savvy teenagers and 20-somethings may have more control over the future of the U.S. auto industry than they realize. |
| Congress set to pass stimulus plan, send to Obama
February 13, 2009 at 11:11 am
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| WASHINGTON (Reuters) - The U.S. Congress on Friday was expected to pass a $789 billion economic stimulus package aimed at unleashing large spending and tax cuts to help yank the economy out of a 14-month recession. |
| Chrysler says restructuring talks making progress
February 13, 2009 at 11:03 am
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| WASHINGTON (Reuters) - Chrysler LLC is making progress in talks with creditors and the United Auto Workers union on a restructuring plan required under a federal bailout, a senior Chrysler executive told Reuters on Friday. |
| U.S. consumers' mood falls sharply
February 13, 2009 at 10:51 am
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| NEW YORK (Reuters) - U.S. consumer confidence fell to its lowest in three months in February as sentiment grew increasingly gloomy over an economic downturn that most expected to last five more years, a survey showed on Friday. |
| Liberty/Sirius talks do not involve takeover: source
February 13, 2009 at 10:45 am
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| NEW YORK (Reuters) - Liberty Media Corp is in talks with Sirius XM Radio Inc to invest in the satellite radio company's capital structure, but the talks do not involve a takeover of the company, a source familiar with the talks said on Friday. |
| Lloyds Banking unveils $12 billion HBOS loss
February 13, 2009 at 10:16 am
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| LONDON (Reuters) - Lloyds Banking Group said its HBOS unit made a hefty loss last year due to bigger-than-expected bad loans, wiping nearly a third off the group's stock market value. |
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