Banks cut borrowing to $33.7 billion from Fed’s emergency program, sign credit stress easingWASHINGTON — Banks trimmed borrowing from the Federal Reserve’s emergency lending facility over the past week and cut back on other programs designed to ease the financial crisis, a sign that some credit problems are easing. AP IMPACT: Cash-strapped states raid 911 call-center funds collected from wireless billsNEW YORK — More than $200 million collected from cell phone users for upgrades to the 911 system has been diverted in the last two years to plug state budget holes, keep campaign promises and, in at least one case, buy police uniforms, an Associated Press analysis has found. San Diego judge delays order to move seals from sheltered cove on La Jolla beachSAN DIEGO — A colony of sleepy harbor seals dozed through the morning Thursday unaware that a nearby emergency court hearing could lead to a very rude awakening indeed: amplified recordings of yapping dogs to chase them off their sunny beach. US Airways reports $58 million profit on one-time gains, beats expectationsDALLAS — US Airways posted a profit in the second quarter thanks to gains from fuel-hedging contracts, but revenue fell sharply as traffic sank from last year’s levels. Goldman Sachs redeems warrants from government for $1.1 billionNEW YORK — Goldman Sachs Group Inc. said Wednesday it has repurchased warrants given to the U.S. Treasury under the Troubled Asset Relief Program for $1.1 billion. Wells Fargo posts 2nd-quarter profit of $2.6 billion, helped by Wachovia acquisitionCHARLOTTE, N.C. — Wells Fargo & Co. joined other big banks in announcing a big second-quarter profit and tempering the news by reporting it is still contending with losses from failed loans. Morgan Stanley posts loss amid TARP repayment and accounting charge tied to improving creditNEW YORK — Morgan Stanley said Wednesday it lost more than $1.2 billion in the second quarter as it took charges to cover continuing losses in its real estate investments and its repayment of government bailout money. Worries about banks, consumer goods companies weigh on futures after weeklong stretch of gainsNEW YORK — Investors are taking a wary view of the latest batch of corporate earnings reports following a weeklong winning streak. Special flight provides lifetime experience to eclipse chasersNEW DELHI/ONBOARD - Around 30 astronomy enthusiasts boarded a chartered plane at the Indira Gandhi International Airport on Wednesday to chase the total solar eclipse up to Gaya above the clouds at a height of 41,000 feet Jersey City police officer dies after being critically wounded in shootoutJERSEY CITY, N.J. — A city police officer who was critically wounded in a shootout with two armed robbery suspects last week died Tuesday, one day before his 38th birthday and the same day police engaged in another gun battle nearby. India getting ready to watch an eclipsed sunNEW DELHI/TAREGNA/SURAT - The wait to witness a once-in-a-lifetime celestial phenomenon ends at dawn Wednesday when an eclipsed sun rises over the horizon. And tens of thousands of people all over India are getting ready to wake up to a shaded sunrise and gather at rooftops, planetariums and parks to watch the century’s longest total solar eclipse. IAF role in study of solar eclipse has been on since 1995NEW DELHI - The Indian Air Force has always had an essential role in the scientific study of total solar eclipse and since 1995, it has been assisting Government’s Department of Science and Technology (DST) in their quest to film this celestial alignment. Schwarzenegger signs bill that could forestall judge’s order to remove La Jolla harbor sealsSAN DIEGO — Gov. Arnold Schwarzenegger has signed a bill that may allow federally protected harbor seals to stay in the Children’s Pool at La Jolla beach, despite a judge’s earlier order to begin chasing them away. Bank of America, Morgan Stanley, other bailout firms up lobbying spending in second quarterWASHINGTON — As Congress spent much of the last three months looking at ways to tighten regulations on financial institutions, some of the biggest recipients of the government’s $700 billion bailout increased their spending on influencing legislators. Bank stocks mixed as analysts weigh in on earnings reports; Big hurdles seen for regionalsNEW YORK — Bank stocks were mixed Monday as analysts weighed in on recent earnings reports, forecasting higher loan losses through the rest of the year, especially among regional banks. Oil prices dip even with companies reporting healthier profitsSIOUX FALLS, S.D. — Oil prices fell Monday even as encouraging quarterly company earnings reports and word that CIT Group Inc. bondholders would keep the commercial lender out of bankruptcy raised hopes about an economic recovery. Oil prices hover around $64 on strong corporate resultsSIOUX FALLS, S.D. — Oil prices hovererd around $64 a barrel Monday as encouraging quarterly company earnings reports and word that CIT Group Inc. bondholders would keep the commercial lender out of bankruptcy raised hopes about an economic recovery. Oil rises above $64 in afternoon European trading on strong company results, weaker dollarOil prices rose to above $64 a barrel Monday as strong second-quarter company earnings boosted investor optimism and pushed stocks in Asia and Europe higher. A weaker U.S. dollar also supported crude markets. Oil rises to near $65 in midday European trading on strong company results, weaker dollarOil prices were headed toward $65 a barrel Monday as strong second quarter company results helped boost investor optimism and stock market gains in Asia and Europe helped lift oil prices. A weaker U.S. dollar boosted oil as well. Oil rises above $64 as strong Q2 corporate results boost investor confidenceSINGAPORE — Oil prices broke above $64 a barrel Monday in Asia as strong second quarter company results helped boost investor optimism. Government watchdog says Treasury should conduct more detailed survey of banksWASHINGTON — The internal watchdog overseeing the government’s financial bailout is pressing Treasury to seek more information from banks that receive taxpayer assistance, brandishing his own bank survey as evidence that such data can be obtained. Meghalaya’s annual Behdeinkhlam festival culminatesSHILLONG - Thousands of people participated in a procession and festivities on the final day of the traditional Behdeinkhlam festival held here. Orissa police demand modern equipment to fight MaoistsBHUBANESWAR - Orissa police personnel deployed in anti-Maoist operations are upset with the state government for not meeting their long-pending demands for modern equipment to tackle the rebels and have threatened “non-cooperation”. Regulators shut Calif. banks, small banks in Georgia, South Dakota; marks 57 US bank failuresWASHINGTON — Regulators on Friday shut two banks in California and two smaller banks in Georgia and South Dakota, boosting to 57 the number of federally insured banks to fail this year. Efforts to close Calif. budget deficit resume amid differences over education fundingSACRAMENTO, Calif. — Negotiations over closing California’s $26.3 billion budget deficit resumed Friday, as government offices closed for the second time this month and a health program for low-income children stopped accepting new applicants. Cash your IOUs on Craigslist? Gray market opens for people to make a buck off Calif. crisisSAN FRANCISCO — Online cash offers for California IOUs are proliferating on Craigslist and elsewhere as major banks stop accepting the financially strained state’s promises to pay. Regulators shut small banks in Georgia, South Dakota; marks 55 US bank failures this yearWASHINGTON — Regulators on Friday shut down small banks in Georgia and South Dakota, boosting to 55 the number of federally insured banks to fail this year. Gold, other metals post modest gains amid mixed earnings reports, oil finishes week above $63NEW YORK — Gold and other metals rose slightly in a quiet day of trading Friday amid a mixed bag of earnings reports. Banks turn in hefty profits, but industry still has big problemsNEW YORK — The big banks are making big money again, but they won’t be back to health as long as they have to deal with a recession and customers defaulting on mortgages and credit cards. Delphi auction postponed until Tuesday, lenders still expected to make credit bidNEW YORK — A bankruptcy judge on Friday postponed the planned auction of struggling auto supplier Delphi Corp.’s assets until Tuesday. |
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