FDIC likely will require banks to prepay $36 billion fees to replenish deposit insurance fundWASHINGTON — Looking to shore up the diminishing fund that insures bank deposits, the FDIC may take the unprecedented step of requiring banks to prepay three years’ worth of premiums: about $36 billion. Federal stimulus provides money for crime victims, domestic abuse programs around the USMINNEAPOLIS — The government’s economic stimulus money isn’t just for hard hats, contractors and teachers. It’s also keeping battered women’s advocates on the job and compensating crime victims for lost wages and uncovered medical costs. Center-left Socialists re-elected in Portugal on promise of economic stimulus packageLISBON, Portugal — The center-left Socialist Party has retained power in Portugal’s parliamentary elections. Luxury brands, unaffected by clunker hangover, could offer best gauge of autumn auto marketNEW YORK — Luxury car sales could offer the most accurate snapshot of a U.S. auto market that languished in September due to fallout from the government’s Cash for Clunkers program. AP INTERVIEW: Greek opposition leader vows to fight corruption if elected PM next weekATHENS, Greece — Socialist opposition leader George Papandreou, who is widely expected to win Greece’s national election next weekend, says fighting endemic corruption and creating a stimulus package are essential if Greece is to emerge from a deep financial crisis. Stocks open higher as investors continue to seek direction on an economic reboundNEW YORK — Corporate dealmaking is boosting investors’ hopes about a recovery in the economy. Exit poll shows Socialists are re-elected in Portugal’s parliamentary electionsLISBON, Portugal — An exit poll says Portugal’s center-left Socialist Party has won re-election in the country’s parliamentary elections. Michigan creeps closer to 2nd government shutdown in 3 years as budget deadline nearsLAINGSBURG, Mich. — Economically beleaguered Michigan faces a possible government shutdown — shuttering highway rest areas, state parks, construction projects and the state lottery — if lawmakers fail to reach a budget deal in the next few days. Calif. gubernatorial candidates pitch fiscal conservatism to party faithful at GOP conventionINDIAN WELLS, Calif. — Nearly a year ahead of their primary election, California Republicans are being asked to consider who would best represent their struggling party in a changing state with daunting challenges ahead. Obama says world leaders united and confident after bringing economy out of crisisPITTSBURGH — World leaders on Friday issued sweeping promises to fix a malfunctioning global economic system in hopes of heading off future financial meltdowns. President Barack Obama said actions taken so far “brought the global economy back from the brink.” Disappointing economic reports signal bumpy recovery as government supports winds downWASHINGTON — A reminder that the path to an economic recovery will be a slow and bumpy one emerged Friday from weaker-than-expected data on durable goods orders and new home sales. Fed members walking fine line in remarks on economy, some say mixed signals being sentWASHINGTON — The Federal Reserve’s high-wire act in easing the extraordinary support it has provided the economy was on display Friday. Fed Chairman Ben Bernanke said a key consumer lending program is still needed, while one of his colleagues talked about acting forcefully when the time comes to boost interest rates. Officials consider fresh bailouts from $700 billion fund to prop up struggling community banksWASHINGTON — Treasury officials and regulators are weighing a fresh round of bailouts for banks that were deemed too risky to qualify for earlier aid. Officials consider bailouts from $700 billion fund to prop up struggling community banksWASHINGTON — Federal regulators and lawmakers are weighing a fresh round of bailouts for banks that were too small or too risky to qualify for earlier aid. G-20 leaders take global board-of-directors role and pledge reform agendaPITTSBURGH — Major world leaders formed themselves into a new board of directors for the global economy Friday, vowing to overhaul lax financial regulations and work harder to control dangerous imbalances that contributed to a financial meltdown. House lawmakers vow to shine light on secrets of the Federal Reserve in bipartisan pushWASHINGTON — House lawmakers want to pry open the books of the famously secretive Federal Reserve with legislation that would subject the central bank to a sweeping congressional audit. House lawmakers act to prevent government shutdown; boost their office budgetsWASHINGTON — The House passed legislation Friday to head off a government shutdown next week by temporarily extending spending on most federal programs at current levels, while boosting lawmakers’ office budgets by more than 8 percent. Bernanke: Despite financial improvements, program to spark consumer lending still neededWASHINGTON — Federal Reserve Chairman Ben Bernanke said Friday a government program intended to spark lending to consumers and businesses is still necessary even with other emergency lending programs winding down as the economy recovers. Treasury inspector general to review GM, Chrysler plans to close dealershipsWASHINGTON — The inspector general for the Treasury Department’s $700 billion bailout fund said Thursday that he will review the decisions of General Motors and Chrysler to close a large portion of their auto dealerships as part of their restructuring plans. Lost documents, long wait times for mortgage servicers could derail help on mortgagesPHILADELPHIA — It all comes down to details: The success of the federal government’s attempts to keep homeowners from defaulting on their mortgages appears to hinge on small things such as a servicer not losing a customer’s documentation. Lost documents, long wait times for mortgage servicers could derail TARP help on mortgagesPHILADELPHIA — It all comes down to details: The success of the federal government’s attempts to keep homeowners from defaulting on their mortgages appears to hinge on small things such as a lender not losing a customer’s documentation. Legislation keeps government from closing down, aids cash-strapped Postal ServiceWASHINGTON — A House-Senate panel on Thursday approved legislation to keep the government from closing down when the new budget year starts next week and employed a $4 billion bookkeeping maneuver to keep the financially troubled Postal Service afloat. World leaders gather for economic checkup; Britain’s Brown calls for greater role for G-20PITTSBURGH — Turning from outright fear to cautious optimism, world leaders descended on the comeback city of Pittsburgh Thursday to debate how to nurture a recovering but still-wobbly global economy. Obama administration sends signal that $700 billion bank bailout program should be extendedWASHINGTON — The Obama administration on Thursday sent its clearest signal yet that it is prepared to extend its $700 billion bailout for Wall Street for another year, even as lawmakers said they were frustrated that not enough was being done to help the average American. Fed continues to scale back 2 emergency lending programs as economy improvesWASHINGTON — The Federal Reserve said Thursday it is further scaling back two emergency lending programs as the economy improves. Former Fed Chair Volcker says Obama’s plans keep ‘too big to fail,’ may cause future bailoutsWASHINGTON — A top White House economic adviser says the Obama administration’s proposed overhaul of financial rules preserves the policy of “too big to fail,” and could lead to future bailouts. AP Source: Citigroup focusing on improving retail banking operations in 6 major marketsNEW YORK — Citigroup Inc. appears to be shifting its strategy in its U.S. retail banking business, focusing on its strongest markets rather than trying to expand across the country. Dissecting the facts in Michael Moore’s new film ‘Capitalism: A Love Story’NEW YORK — Despite the title of his new movie, Michael Moore really hates capitalism. He says it’s a scheme for businesses to profit at the expense of the little guy. At calmer G-20 summit this week, Obama to seek more economic balance from other leadersPITTSBURGH — With the world’s major economies having stepped back from the brink of a devastating meltdown, President Barack Obama comes to a global summit here pushing a slimmed-down agenda designed to prevent a repeat of the conditions that caused such panic a few months ago. Obama administration warns against quick end to $700 billion bank bailoutWASHINGTON — The nation’s economic recovery has just begun and “we still have work to do,” a senior Treasury official told Congress on Thursday, the strongest signal yet that the administration is prepared to extend its $700 billion bank bailout fund. |
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