Australia’s ANZ Bank buys ING’s share of joint ventures for $1.5 billionSYDNEY — ANZ Bank said Friday it will buy Dutch-based ING Groep NV’s stake in their Australian and New Zealand life insurance and wealth management joint ventures for 1.76 billion Australian dollars ($1.53 billion). Spokeswoman: China plans to link banker pay to risk, but no plans for salary capsBEIJING — China plans to link the pay of bankers to risks taken by their institutions but has no plans for salary caps, a government spokeswoman said Friday. G-20 leaders adopt board-of-directors role and seek reform agenda to repair global economyPITTSBURGH — Leaders of the world’s major economies are coming together on reforms to rein in huge bank bonuses, toughen financial regulations and guard against the dangerous imbalances that contributed to the worst global downturn since the 1930s. Farm workers, organizations hope suit will bring NM ag laborers under workers’ comp coverageALBUQUERQUE, N.M. — Joe Griego’s life changed in seconds when he turned his back on a bull he was trying to corral during work at a southern New Mexico dairy. The bull attacked, leaving Griego with serious injuries. Geithner: US wants bigger role of China in IMF despite European objectionsPITTSBURGH — Treasury Secretary Timothy Geithner says the U.S. supports China’s bid for greater voting rights in international organizations like the IMF and the World Bank for itself and other fast-growing economies despite European reservations. US Bank becomes latest bank to relax account overdraft policies, following BofA, JPMorganMINNEAPOLIS — U.S. Bank on Thursday became the latest financial institution to back off on the penalties customers face for overdrafting their accounts. Money fund assets rose $198 million to $3.483 trillion in latest weekNEW YORK — Total money market mutual fund assets rose $198 million to $3.483 trillion for the week, the Investment Company Institute said Thursday. Comptroller of the Currency Dugan denounces state consumer law allowance in Obama planWASHINGTON — A top federal regulator on Thursday denounced as “radical” an element of the Obama administration’s plan to overhaul financial rules that would allow states to apply stricter consumer protection laws to banks than the national standard. Republicans to block health nominees until Obama’s team lifts ‘gag order’ on Medicare insurersWASHINGTON — The Senate’s top Republicans said Thursday they wouldn’t allow President Barack Obama to fill health posts until his administration stops barring insurers from telling the elderly how Democrats’ health overhaul could affect their benefits. Geography makes a difference in who has health insurance and who doesn’tORLANDO, Fla. — Where someone lives makes a difference in whether or not that person has health insurance. 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. 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. 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. US stock futures slightly higher after data on labor market, ahead of G-20 meetingNEW YORK — Stock futures are indicating a slightly higher opening on Wall Street Thursday after investors got more good news about the jobs market. US stock futures little changed ahead of G-20 meeting, data on jobs, housingNEW YORK — Stock futures are little changed Thursday as investors wait for more clues on how the global economy is faring. 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. Japan Airlines president says money-losing carrier applying for public fundsTOKYO — The president of Japan Airlines said Thursday the money-losing carrier is applying for public funds to help turn around the company after it was pummeled by the downturn in global air travel, but it quickly received a reluctant response from the transport minister. 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. ALL BUSINESS: 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. 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. Report: Blackstone Group considering buying Anheuser-Busch InBev’s amusement parksNEW YORK — Private equity firm Blackstone Group is looking into buying Anheuser-Busch InBev’s theme parks, including its three SeaWorld venues and two Busch Gardens, according to a media report Wednesday. Improved outlook from the Fed wasn’t enough to restart stock market’s rallyNEW YORK — Investors were encouraged by the Fed’s latest improved assessment of the economy, but not enough to propel the Dow Jones industrial average past 10,000. Geithner supportive of exempting some businesses from proposed financial oversight agencyWASHINGTON — Ceding ground amid growing business opposition, the Obama administration on Wednesday signaled a willingness to exempt retailers, real estate brokers, lawyers, auto dealers, cable companies and accountants from oversight of its proposed Consumer Financial Protection Agency. Stocks rise to 11-month highs after Federal Reserve says economic activity has picked upNEW YORK — A more upbeat assessment of the economy from the Federal Reserve sent stocks higher Wednesday, pushing the Dow Jones industrial average closer to 10,000. 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. Stocks creep higher as investors await conclusion of Fed policy meetingNEW YORK — Stocks crept higher Wednesday afternoon ahead of the Federal Reserve’s decision on interest rates. Sarah Palin urges smaller government, talks US-China relations in speech to investors in AsiaHONG KONG — Months after abruptly resigning as Alaska’s governor, Sarah Palin resurfaced in Hong Kong more moderate in tone and better versed in international affairs, possibly laying the first brick for a 2012 White House bid. Stocks waver as investors await conclusion of Fed policy meeting, oil fallsNEW YORK — Investors are waiting for word from the Federal Reserve before making any big moves in stocks. |
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