Group of 7 finance ministers warns of fragile recovery and against complacencyISTANBUL — The world economy is growing again, but the recovery remains fragile, according to the finance ministers from the Group of Seven rich countries. Major cases coming up for the Supreme Court in the new termHighlights of some high-profile cases that the Supreme Court will take up in its term that begins Monday: Group of 7 finance ministers meet amid questions about dollar’s roleISTANBUL — Finance ministers from the Group of Seven rich countries gathered Saturday to confront concerns about the dollar, in a forum whose role is under question as developing countries get more say. Regulators close Michigan bank, small banks in Colorado, Minnesota; marks 98 US bank failuresNEW YORK — Regulators have shut Warren Bank in Warren, Mich., and two small banks in Colorado and Minnesota, boosting the number of failed U.S. banks this year to 98 as loan defaults rise in the worst financial climate in decades. Regulators close Michigan bank, small bank in Minnesota; marks 97 US bank failures this yearNEW YORK — Regulators have shut down Warren Bank in Warren, Mich., and a small bank in Minnesota, boosting the number of failed U.S. banks this year to 97 as loan defaults rise in the worst financial climate in decades. Regulators close Warren Bank in Michigan; 96th US bank closed this yearNEW YORK — Regulators have shut down Warren Bank in Warren, Mich., the 96th U.S. bank failure this year as loan defaults rise in the worst financial climate in decades. Report: Blackstone Group nearing deal to buy Anheuser-Busch InBev’s amusement parksNEW YORK — Private equity firm Blackstone Group is close to sealing a deal to buy Anheuser-Busch InBev’s theme parks unit, including such notable parks as SeaWorld and Busch Gardens, according to a media report Friday. Research report says 3Q investment in global cleantech fell 22%; recovery forecast in 2010DENVER — New global investment in clean-energy companies fell 22 percent in the third quarter as government financing was offset by tight credit markets, according to new research released Friday. Obama reaches historic milestone on health care but with no guarantee he’ll prevail in the endWASHINGTON — Eight months in office, Barack Obama has now pushed closer than any other president in generations to creating a basic health care safety net for working Americans. Yet the fate of legislation delivering on his goal is far from certain: Republicans are nearly unified in opposition, Democrats hardly united in support. Conn. officials demand to know if insurers discussed proposed health reform with policyholdersHARTFORD, Conn. — Connecticut officials demanded to know Friday if the state’s five largest insurance companies have sent policyholders information about a possible impact on Medicare of health care changes debated in Washington. ALL BUSINESS: Pay package for new Freddie Mac CFO is sending a disturbing messageNEW YORK — The pay package given to Freddie Mac’s new chief financial officer should have sent a message from Washington to corporate America about how executive compensation standards must change. Instead, it did just the opposite. FINRA’s failure to uncover Madoff, Stanford schemes points to need for reforms, review saysWASHINGTON — The brokerage industry’s self-policing body must make reforms to protect investors after its inspections failed to uncover the massive Ponzi scheme run by Bernard Madoff and the alleged fraud by R. Allen Stanford, according to a special review. IMF looks at ways to raise money from banks to help insure system against another crisisISTANBUL — The International Monetary Fund is considering how the world’s banks can pay more to help insure the financial system from another crisis and possibly assist poorer countries in the battle against climate change. World Bank’s Zoellick warns of funding constraints by middle of next yearISTANBUL — World Bank president Robert Zoellick warned Friday that the international lender could find money running tight within a year if crisis-driven demands on its funding keep up at their record pace and the richer countries fail to stump up more cash. Health overhaul just a step away from Senate floor, Dems ease impact on working-class familiesWASHINGTON — Capping months of struggle, Democrats pushed health care legislation atop President Barack Obama’s agenda to the brink of a major Senate advance early Friday after last-minute changes to ease the impact on working-class families. The most far-reaching overhaul in decades aims to protect millions who have unreliable insurance coverage or none at all. Money fund assets fell by $53.52 billion to $3.429 trillion in latest weekNEW YORK — Total money market mutual fund assets fell by $53.52 billion to $3.429 trillion for the week, the Investment Company Institute said Thursday. Banks reduce borrowing from Federal Reserve’s emergency lending programsWASHINGTON — Banks reduced their borrowing from the Federal Reserve’s emergency lending facility over the past week, and cut back on their use of other programs designed to ease the financial crisis. Finance Committee senators agree to let states negotiate health plans for the poorWASHINGTON — Senators trying to make health care more affordable want to let state governments negotiate basic coverage plans for some lower-income people. Democrats turn back GOP health bill tax amendments as Sen. aims to finish debate by nightfallWASHINGTON — Rejecting Republican amendments, Democrats turned back GOP efforts to cast the health care overhaul as a tax hike on the middle class Thursday, as a crucial Senate panel aimed to wrap up debate on the measure by nightfall. Troubled W.Va. bank agrees to greater scrutiny by regulatorsCHARLESTON, W.Va. — The parent company of Summit Community Bank says it has agreed to closer government scrutiny and been ordered to suspend dividends. Democrats turn back GOP health bill tax amendments as Baucus aims to finish panl work ThursdayWASHINGTON — Rejecting Republican amendments, Democrats turned back GOP efforts to cast the health care overhaul as a tax hike on the middle class Thursday, as a crucial Senate panel aimed to wrap up debate on the measure by nightfall. Baucus says has ‘high hopes’ of finishing work on health bill Thursday; final vote next weekWASHINGTON — The chairman of the Senate Finance Committee said Thursday he wanted to complete work on a sweeping health care bill by nightfall, opening the way for Democratic leaders to bring the historic legislation to the floors of both the House and Senate as early as mid-October. Bernanke: Fed ‘well suited’ to oversee largest financial cos.; subdued on consumer protectionWASHINGTON — Federal Reserve Chairman Ben Bernanke told a skeptical Congress Thursday that the central bank is “well suited” to oversee colossal financial companies whose failure could endanger the entire economy. International Monetary Fund says tight credit for consumers, businesses to hinder US recoveryISTANBUL, Turkey — The U.S economy will be growing again by year end, but tight credit conditions for consumers and businesses will hamper the recovery, the International Monetary Fund said Thursday as it raised its forecast for growth next year to 1.5 percent from 0.8 percent. Student protester hurls shoe at IMF chief, but misses, during conference in IstanbulISTANBUL — A student journalist threw a shoe at IMF Director Dominique Strauss-Kahn on Thursday and ran toward the stage shouting “IMF get out!” as the finance official answered questions at a university in Istanbul. Student protester throws shoe at IMF director in Istanbul _ but missesISTANBUL — A student journalist threw a shoe at IMF Director Dominique Strauss-Kahn on Thursday and ran toward the stage shouting “IMF get out!” as the finance official answered questions at a university in Istanbul. Protester throws shoe at IMF director during conference in IstanbulISTANBUL — A protester threw a shoe at IMF Director Dominique Strauss-Kahn but missed during a conference at an Istanbul university Thursday. Citigroup completes sale of Japanese brokerage in $8.7 billion dealTOKYO — Citigroup Inc. has completed the sale of its Japanese brokerage to Sumitomo Mitsui Banking Corp. in a $8.7 billion deal that advances the U.S. bank’s efforts to restructure after big losses on risky investments. IMF raises 2010 global growth forecast to 3.1 percent but warns that recovery will be slowISTANBUL — The International Monetary Fund said the global economy is recovering faster than expected — but that governments should not be hasty in withdrawing the added spending and low interest rates that have helped restore growth. Democrats eye mid-October launch for health care debate in the full House and SenateWASHINGTON — Historic health care legislation could be on the floor of both houses of Congress as early as mid-October as Democrats work to answer President Barack Obama’s call for greater protections for those who have unreliable insurance or no coverage at all. |
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