Oprah Winfrey, who campaigned for Obama, says she’s now on the sidelines in politicsTORONTO — Oprah Winfrey may have been instrumental in getting Barack Obama elected president, but now claims she’s on the sidelines. Major indexes fall in early dealings amid concerns about US-China trade disputeNEW YORK — Stocks fell in morning trading Monday amid concerns about a growing trade dispute between the U.S. and China. Finance minister: Serbia must lay off 14,000 state workers to meet IMF aid conditionsBELGRADE, Serbia — Serbia will have to lay off about one-fifth of its government employees — 14,000 people — to meet conditions set by the International Monetary Fund to receive more financial aid, the country’s finance minister said Monday. Stock futures point toward lower opening amid concerns about US-China trade disputeNEW YORK — Stock futures are pointing to a lower opening Monday amid concerns about a growing trade dispute between the U.S. and China. France’s Sarkozy calls for ‘revolution’ in measuring economic growth to account for well-beingPARIS — French President Nicolas Sarkozy asked world leaders to join a “revolution” in the measurement of economic progress by dropping their obsession with gross domestic product to account for factors such as health-care availability and leisure time. European, Asian markets pull back as investors worry about US-China trade dispute, valuationsLONDON — European and Asian markets fell Monday and Wall Street was expected to drop on the open, as investors worried that a new trade dispute between the U.S. and China could hurt a fledgling global economic recovery. US sec’y of state Clinton: Human trafficking flourishes in shadows of economic crisisVIENNA — U.S. Secretary of State Hillary Rodham Clinton warns that human trafficking is flourishing in the shadows of the global economic downturn. Obama pushes Congress for tighter financial regulation on anniversary of Lehman Bros. collapseNEW YORK — President Barack Obama sternly warned Wall Street Monday against returning to the sort of reckless and unchecked behavior that threatened the nation with a second Great Depression. 70% Americans think Economy has not improved at all
Obama takes financial regulation push to NY on Lehman Bros. anniversary
Banks’ appetite for risk is rebounding 1 year after crisis; Is the financial system any safer?NEW YORK — A year after the financial system nearly collapsed, the nation’s biggest banks are bigger and regaining their appetite for risk. Report: IMF chief says economic crisis not over, more progress needed on regulationBERLIN — The global economic crisis isn’t over yet, despite positive signals from Europe’s biggest economies, the head of the International Monetary Fund warned in comments published Saturday. Government succeeded in avoiding a financial catastrophe, but there’s little glory for ObamaWASHINGTON — Halting the financial sector’s death plunge is arguably the government’s most measurable achievement this year. Yet as President Barack Obama observes the one-year anniversary of Lehman Brothers’ collapse, his administration’s increasingly sunny assessment of Wall Street’s rebound faces a hard sell. Cuba distributes private taxi permits, hoping dose of free-market can cure transportation woesHAVANA — Jose Obdilio Duran’s ‘57 Chevy has holes in its mottled floor, a passenger window that can’t be rolled up and no inside panels on its doors. But the 71-year-old retiree wants to put the old car to work — applying for one of the first taxi licenses this communist country has granted in a decade. Dollar hits year low as investors see growth in China, buy commodities; gold at 18-month highNEW YORK — The week’s dollar sell-off continued Friday, with the greenback hitting a fresh 12-month low. New Morgan Stanley CEO James Gorman to inherit bank still facing questions about directionNEW YORK — Morgan Stanley’s incoming CEO will be facing a drastically different landscape on Wall Street from when John Mack took over in 2005. White House: Obama to give financial speech Monday, marking Lehman Brothers collapseWASHINGTON — President Barack Obama is delivering a speech on Wall Street Monday, exactly one year after the Lehman Brothers investment bank collapsed, precipitating the financial crisis felt around the world. Mack will down as Morgan Stanley CEO in January, will remain chairman; Gorman to take helmNEW YORK — John Mack will step down as CEO of Morgan Stanley in January but remain as chairman, having navigated the bank through the stormiest period for the U.S. financial industry since the 1930s. Banks cut borrowing from Fed’s emergency lending program, sign credit stresses are easingWASHINGTON — Banks trimmed their borrowing over the past week from the Federal Reserve’s emergency lending facility and cut back on other programs intended to ease the financial crisis, adding to evidence that credit markets are thawing. Procter & Gamble cuts prices, boosts promotions to pave way for sales rebound this yearCINCINNATI — The world’s largest consumer products maker is finding that “new and improved” is still good, but “lower price” is working better. Great Recession, high gas prices force American car buyers to downsize auto ambitionsANN ARBOR, Mich. — Big cars and trucks are out. Smaller ones that offer more for your dollar are in. And many drivers will hang onto the new cars they buy longer. Treasury secretary says confidence has replaced last year’s panic in financial marketsWASHINGTON — Citing emerging financial sector stability, Treasury Secretary Timothy Geithner said Thursday that a number of government rescue efforts in place since the Wall Street crisis are no longer needed and that banks will repay $50 billion in rescue funds over the next 18 months. NYC’s landmark Tavern on the Green restaurant files for Chapter 11 bankruptcy protectionNEW YORK — Tavern on the Green, the landmark restaurant in New York City’s Central Park, has filed for Chapter 11 bankruptcy protection. Text of Obama’s speech to Congress on health care reformText of President Barack Obama’s address to Congress on health care reform Wednesday, as prepared for delivery and provided by the White House. OPEC leaves its crude output targets unchanged, citing oversupply and slow economic recoveryVIENNA — OPEC is leaving its production quotas unchanged, opting to take a cautious approach in a market awash in crude and a global economy still in the early stages of recovery. Italy hosts two-day conference on violence against womenROME — The global economic downturn may be leading to increased violence against women worldwide, both by pushing them into unsafe jobs and by raising tensions within their families, U.N. officials said Wednesday. FDIC may extend debt guarantee program by 6 months for banks with emergenciesWASHINGTON — Federal regulators may offer a limited emergency extension of a temporary rescue program that guarantees hundreds of billions of dollars in U.S. banks’ debt. Russia makes once-banned book on horrors of Soviet Gulag required reading in schoolsMOSCOW — The book that made “Gulag” a synonym for the horrors of Soviet oppression will be taught in Russian high schools, a generation after the Kremlin banned it as destructive to the Communist cause and exiled its author. Report says 19 percent of eligible borrowers offered help through Obama loan aid planWASHINGTON — The Obama administration’s $50 billion mortgage relief program is finally picking up speed after a sluggish and disappointing start: Nearly early one in five eligible homeowners have been offered help so far. EADS chief favors negotiated settlement in trade dispute over Boeing and Airbus subsidiesPARIS — The head of Airbus’ parent company says the European jet maker did nothing wrong in a trade dispute with the U.S. over government subsidies, and called for a negotiated settlement with archrival Boeing Co. |
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WASHINGTON — One year after Wall Street teetered on the brink of collapse, seven out of 10 Americans lack confidence the federal government has taken safeguards to prevent another financial industry meltdown, according to a new Associated Press-GfK poll.
WASHINGTON — President Barack Obama plans to use the first anniversary of Lehman Brothers’ collapse to talk about plans to wind down the government role in a financial sector that needed a Washington bailout last year, an administration official said Sunday.
