After Buying Spree, China Owns Stakes in Top U.S. Firms The New York Times | SHANGHAI - Flush with cash despite the global economic downturn, China's sovereign wealth fund quietly snapped up more than $9 billion worth of shares last year in some of the biggest American corporations, including Morgan Stanley, Bank of America and Citigroup. | Although most of the stakes were...
Digest: Japan Airlines leans American? Houston Chronicle | TRAVEL | Japan Airlines leans American? | Japan Airlines will maintain its partnership with AMR Corp.'s American Airlines, rejecting an offer from Delta Air Lines, according to two people familiar with the situation. | JAL's new chairman, Kazuo Inamori, decided to stick with American because of co...
Shareholders Deciding a Dividend The New York Times | Wouldn't it be great if we could turn back the clock to 2007? | Life was far simpler then. The Dow was cresting above 14,000, buyouts were booming and "global financial meltdown" was not yet the topic of elevator conversations. | It seems a consort...
After Lying Low in Boom, No Bust for New York's Real Estate Royalty The New York Times | At the height of the boom, the Dursts, the Rudins, the Roses, the LeFraks and other members of New York’s royal real estate families were treated like slow-moving dinosaurs on the verge of extinction. Raymond McCrea Jones/The New York Times |...
Credit crunch villains get their parole The Independent | I think I'll keep my office exactly the way it is," John Thain told reporters as he took over the helm of the US small business lender CIT Group yesterday. Well he might. His is a remarkable resurrection, and he won't be wanting to jeopardise it. H...
The Money Man: Super-economist Joseph Stiglitz on how to fix the recession The Independent | Anger doesn't sit easily on the urbane, vaguely cuddly frame of Joe Stiglitz. His beard and open-necked shirt lend him an unbuttoned air, and he has the veteran teacher's ability to put the intellectually inferior at their ease, which I am grateful...
AP / Richard Drew
Former Merrill CEO Thain tapped to head CIT CNN Former Merrill chief tapped to head CIT | February 8, 2010: 4:44 AM ET | LONDON (CNNMoney.com) -- Former Merrill Lynch CEO John Thain has been tapped to lead struggling lender CIT ...
Toyota's once-golden resale value gets dented The Press Democrat | Recalls and a bungled response to safety questions are putting a dent in the resale values of their cars. For years, Toyotas have been praised both for high quality and maintaini...
CIT names ex-Merrill CEO Thain as chairman, CEO The Boston Globe | NEW YORK-Former Merrill Lynch CEO John Thain, who brokered the investment bank's controversial sale to , is taking over as chairman and CEO of as the commercial lender continues ...
New SEC-Bank of America settlement faulted The News & Observer | NEW YORK -- A federal judge who rejected the government's first bid to settle civil charges against Bank of America Corp. showed little enthusiasm Monday for a new proposed settlement. | U.S. District Judge Jed Rakoff sharply questioned the merits ...
US stocks plunge on Europe's debt woes; Dow below 10,000 m&c | New York - Major US stock indices tumbled on Monday over ongoing concerns about the economic recovery and dangerously high budget deficits in some European countries. | The losses pushed the Dow Jones Industrial Average back below the symbolic 10,0...
Business Highlights Houston Chronicle | - Reports: Toyota plans to recall 300,000 Priuses | TOKYO (AP) - Toyota plans to recall about 300,000 Prius hybrids worldwide over a brake problem and is likely to notify both the U.S. and Japanese governments Tuesday, news reports said, as a top e...
Holding September 11 trial in New York difficult: Obama DNA India | WASHINGTON: President Barack Obama said on Sunday he had not ruled out putting the suspected mastermind of the Sept 11 attacks on trial in New York City but logistical issues and local opposition made it difficult. | Khalid Sheikh Mohammed, who is being held at the U.S. military prison at Guantanamo Bay, Cuba, has claimed responsibility for organ...
US STOCKS SNAPSHOT-Futures drift lower after JPMorgan earns The Guardian NEW YORK, Jan 15 (Reuters) - U.S. stock index futures extended losses on Friday after JPMorgan Chase & Co reported quarterly results. * S&P 500 futures SPc1> fell 6.2 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial averag...
