Great Recession’s labor legacy: shorter workweeks, grayer work force and less job securityGoing to work may never be the same again. 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. World leaders seek global solutions to confront multiple crisesUNITED NATIONS — Global leaders on Thursday warned colleagues that coordinated international action to end the worldwide recession and reverse climate change must not fall victim to routine political divisions and pitfalls. Losing ground in auto financing, GMAC to offer new financial incentives to dealershipsNEW YORK — GMAC Financial Services, the former financing arm of General Motors Co., is making a new push to recapture its share in the auto financing business by offering incentives to its most loyal dealers. 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. Germany’s Merkel poised to win new term but faces tough economic, foreign policy challengesBERLIN — Since the end of World War II, Germans have shown a preference for a slow, steady hand over charismatic fervor when looking for a leader — especially in times of crisis. 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. 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. Despite calls for unity, Ahmadinejad, Gadhafi blast Security CouncilUNITED NATIONS — On a day when the U.N. and many nations appealed for global unity, Iranian President Mahmoud Ahmadinejad and Libyan leader Moammar Gadhafi on Wednesday denounced what they called an unjust world dominated by five powers. Alaska governor announces annual dividend for residents will be $1,305 this yearANCHORAGE, Alaska — Evans Thomas Jr. and his neighbors know exactly how they’re spending their dividend checks of $1,305 for being Alaskans — not on new toys or vacations, but on warming their homes come winter in a village situated just below the Arctic Circle. Fed pushes $1.45 trillion housing market plan into 2010; mortgage rates expected to stay lowWASHINGTON — Signaling confidence in a recovery, the Federal Reserve decided Wednesday to stretch out the pace of a program intended to lower mortgage rates and prop up the housing market. On eve of G20 economic summit, nations spar over key issues, US warns about complacencyPITTSBURGH — On the eve of a summit of the world’s 20 top economies, the Obama administration pressed leaders on Wednesday to overcome differences and work together more closely in confronting thorny financial and environmental problems. On eve of G-20, France seeks vast restructuring of world’s finances and ecological incentivesUNITED NATIONS — French President Nicolas Sarkozy on Wednesday condemned “the behavior of those who still continue to grow indecently rich, after leading the world to the brink of disaster,” and called for a vast overhaul of the world’s financial system. Fed slows $1.45 trillion mortgage program; says economic activity ‘picked up’WASHINGTON — With the economy on the mend, the Federal Reserve on Wednesday said it is slowing the pace of a program to lower mortgage rates and prop up the housing market. US warning against complacency in effort to overhaul global financial systemPITTSBURGH — The Obama administration on Wednesday cautioned against complacency on the eve of a global economic summit, arguing that signs of an economic revival are not grounds for abandoning a significant overhaul of the world’s financial system. New EU economic watchdog to rely on moral pressure, not regulatory power to get nations to actBRUSSELS — The European Union’s new economic watchdog plans to use “moral pressure” instead of regulatory authority to crack down on countries posing major risks to Europe’s economy, the European Commission said Wednesday. World leaders turn from climate change to terrorism, nukes and povertyUNITED NATIONS — Secretary-General Ban Ki-moon is challenging the world’s nations to unite to free the world of nuclear weapons and tackle the growing poverty resulting from the global financial crisis. Clinton Global Initiative gets under way in NYC; conference aims to solve global issuesNEW YORK — Former President Bill Clinton opened his annual summit on pressing global issues with a call for attendees to support political and economic efforts toward climate sustainability. Geithner says economic recovery under way but fixes needed to prevent another meltdownWASHINGTON — Treasury Secretary Timothy Geithner says the nation is moving toward economic recovery but that the regulatory system is broken and must be fixed. FDIC weighs extraordinary steps, including loans from banks, to shore up insurance fundWASHINGTON — The Federal Deposit Insurance Corp. is weighing several costly — and never-before-used — options as it struggles to shore up the dwindling fund that insures bank deposits. Obama losing momentum in attempt to tighten reins on Wall Street as banks, lawmakers balkWASHINGTON — President Barack Obama’s attempt to tighten the government’s reins on Wall Street is losing momentum as banks gain traction against his proposal for increased consumer protections and key lawmakers question his call for standardized financial products. Think tank proposes that Obama White House update US relations with ChinaWASHINGTON — A strategic think tank with close connections to the Obama administration is calling on the White House to develop better and broader relations with China. SEC, CFTC chiefs urge Congress to impose broad oversight on financial derivativesWASHINGTON — Two key regulators on Tuesday urged Congress to go beyond an Obama administration proposal and impose comprehensive oversight on the sprawling, complex market for financial derivatives blamed for worsening the credit crisis last fall. Wells Fargo Chairman Kovacevich to step down at year end; CEO Stumpf to take on added roleSAN FRANCISCO — Wells Fargo & Co. said Tuesday that Dick Kovacevich will step down as chairman at the end of 2009, after staying in the post an extra year to help the bank navigate the financial crisis. Think Tank proposes updating relations with ChinaWASHINGTON — A strategic think tank with close connections to the Obama administration is calling on the White House to develop better and broader relations with China. CFTC chief urges Congress to impose broad oversight on financial derivativesWASHINGTON — A key regulator on Tuesday urged Congress to go beyond an Obama administration proposal and impose comprehensive oversight on the sprawling, complex market for financial derivatives blamed for worsening the credit crisis last fall. Congress expected to reject Obama’s proposed mandate that banks offer ‘plain vanilla’ productsWASHINGTON — Congress is expected to reject President Barack Obama’s proposed mandate that banks offer customers “plain vanilla” financial products, such as a 30-year fixed mortgage. Close Portuguese elections may bring end of ‘ferocious’ Socialist reformerLISBON, Portugal — Just before he came to power in a landslide four years ago, Portuguese Prime Minister Jose Socrates described himself in political terms as “a ferocious animal” — an uncompromising reformer who would turn Portugal into one of Europe’s go-getters. |
Topics
Poll Loading ...Latest TweetsFinancial Crisis
Latest Friend FeedsFinancial Crisis
|
