Talks fail, Chrysler bankruptcy imminent: ReportWASHINGTON - Talks aimed at saving the ailing US carmaker Chrysler LLC from bankruptcy failed late Wednesday, making the company filing for court protection ‘all but certain’, the Wall Street Journal said in its online edition. Legislation reining in credit card practices may pass, helped by Obama support, tough economyWASHINGTON — Responding to a wave of populist anger, the House moved toward passage of a consumer protection bill to rein in credit card practices and eliminate sudden interest rate increases and late fees that have entangled millions of consumers. Bank lobby, voter frustration with bailouts keep Obama from wielding heavy stick on banksWASHINGTON — With President Barack Obama largely on the sidelines, Senate Republicans are poised to defeat his promise of a bankruptcy court refuge for hundreds of thousands of families about to lose their homes to foreclosure. AP Source: Chrysler lender talks break off, company headed for bankruptcy protectionDETROIT — Talks between Chrysler LLC’s lenders and the Treasury Department to reduce the automaker’s $6.9 billion in secured debt and keep it out of bankruptcy protection have disintegrated, a person familiar with the talks said early Thursday. Person with knowledge of deal: Saints ans state agree to extension of Superdome leaseNEW ORLEANS — The New Orleans Saints have agreed to a lease extension that will keep the NFL team playing home games in an improved Louisiana Superdome through the 2025 season. Text of President Barack Obama’s news conference on WednesdayText of President Barack Obama’s news conference on Wednesday at the White House, as transcribed by CQ Transcriptions: Congress adopts $3.4 trillion budget plan that endorses Obama’s agenda, health care overhaulWASHINGTON — Democrats in Congress capped President Barack Obama’s 100th day in office by advancing a $3.4 trillion federal budget for next year — a third of it borrowed — that prevents Republicans from blocking his proposed trillion-dollar expansion of government-provided health care over the next decade. Senate follows House in adopting budget embracing Obama’s goals but producing big deficitsWASHINGTON — Congress has wrapped up work on a compromise $3.4 trillion budget outline aimed at helping advance President Barack Obama’s ambitious agenda despite staggering government deficits. MGM Mirage, Dubai World and lenders reach pact to finish $8.5 billion CityCenter in Las VegasLAS VEGAS — Casino operator MGM Mirage said Wednesday that it agreed with partner Dubai World and the pair’s lenders to finish an $8.5 billion casino complex on the Las Vegas Strip. Consumer products maker Newell Rubbermaid reports first-quarter earnings ThursdayCHICAGO — Newell Rubbermaid Inc. reports results for the second quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period. House passes $3.4 trillion budget plan that endorses Obama’s agenda, health care overhaulWASHINGTON — Acting with unusual speed, the House on Wednesday adopted a $3.4 trillion budget outline that endorses much of President Barack Obama’s ambitious agenda while permitting the national debt to continue to spiral higher. Bankruptcy trial tries to unravel who is responsible for collapse of ritzy Montana resortMISSOULA, Mont. — The founders of the Yellowstone Club are trading blame over who is responsible for the financial collapse of the Montana haven for the rich that has fallen more than $400 million into debt. House passes $3.4 trillion budget plan that endorses Obama’s agenda, health care overhaulWASHINGTON — Acting with unusual speed, the House on Wednesday adopted a $3.4 trillion budget outline that endorses much of President Barack Obama’s ambitious agenda while permitting the national debt to continue to spiral higher. Fed leaves rate at record low; sees signs recession easing but warns economy will remain weakWASHINGTON — The Federal Reserve said Wednesday it sees signs the recession is easing and that the economic outlook has “improved modestly” since last month. Stocks hold gains as Fed sees ’somewhat slower’ slide in economy; S&P 500 hits 3-month highNEW YORK — Stocks are holding on to big gains as the Federal Reserve says it sees the recession easing. Financial groups reject Obama’s plan to provide homeowners mortgage relief through bankruptcyWASHINGTON — A dozen financial groups, including the U.S. Chamber of Commerce and American Bankers Association, on Wednesday urged every member of the U.S. Senate to reject a key piece of President Barack Obama’s plan to keep tens of thousands of Americans from losing their homes. Gazprom’s 4Q net profit slides 84 percent on plunging demandMOSCOW — Russia’s state-owned natural gas company Gazprom said Wednesday that its full-year net profit rose by 13 percent to 743 billion rubles ($22.2 billion) in a year that saw gas and oil prices soar, then fall. But the recession appeared to hit its earnings hard at the end of the year. Fortis shareholders give final approval to sale of Belgium’s largest bank to BNP ParibasUTRECHT, Netherlands — Fortis Holding shareholders gave the final go-ahead Wednesday for the sale of Belgium’s largest bank to France’s BNP Paribas, in a deal that makes Paribas the largest bank in the euro zone by deposits. New Jersey regulators authorize cut-price auction for Atlantic City’s Tropicana CasinoATLANTIC CITY, N.J. — New Jersey regulators on Wednesday authorized what could be an 80 percent-off sale for one of Atlantic City’s largest casinos, permitting the Tropicana Casino and Resort to be sold in a bankruptcy court auction. House passes $3.4 trillion budget plan that endorses Obama’s agenda, health care overhaulWASHINGTON — Democrats in Congress capped President Barack Obama’s 100th day in office by advancing a $3.4 trillion federal budget for next year — a third of it borrowed — that prevents Republicans from blocking his proposed trillion-dollar expansion of government-provided health care over the next decade. Treasury says more than 100 applications from firms seeking to manage toxic securities programWASHINGTON — The Treasury Department on Wednesday said that more than 100 applications have been received from firms seeking to manage the government program to help purchase toxic securities from banks. House adopts budget embracing Obama’s goals but producing big deficitsWASHINGTON — President Barack Obama’s Democratic allies in the House have passed a $3.4 trillion budget outline that will help him pass health care reform later in the year. Maytas board approves corporate debt restructuring packageHYDERABAD - The board of cash-strapped Maytas Infra, promoted by disgraced founder of Satyam Computer Services B. Ramalinga Raju and his family, Wednesday approved a draft corporate debt restructuring (CDR) package and recast the management by appointing two presidents. Treasury plans to auction 30-year bonds on a monthly basis to deal with record debt levelsWASHINGTON — The Treasury Department said Wednesday it will boost the number of times it auctions 30-year bonds to 12 times a year in another move to cope with the government’s soaring debt. Chrysler CEO says automaker making progress toward restructuring goalsNEW YORK — With one day left to go before its deadline, Chrysler LLC’s chief executive said Wednesday that the automaker is making progress toward meeting the government’s restructuring requirements. Wall Street set to bounce from 2 days of losses ahead of GDP data, Fed’s economic assessmentNEW YORK — Wall Street is set to break a two-day losing streak Wednesday as investors anticipate an encouraging reading on first-quarter GDP. UK Parliament grilling awaits Brown’s ministers over Gorkha shut outLONDON - The British Parliament’s Home Affairs Committee has slammed new rules that deny heroic Gurkha veterans their right to stay in the country. Time Warner Cable 1st-qtr profit falls on restructuring, spin-off charges despite sales boostNEW YORK — Time Warner Cable Inc. said Wednesday its first-quarter earnings fell 32 percent on restructuring and other costs related to its spin-off from former parent Time Warner, despite a boost in sales. NHL loans Coyotes cash for payroll, rent, other expensesPHOENIX — The National Hockey League has loaned an unknown amount of money to the Phoenix Coyotes for payroll and rent payments. Aide says Alaska Governor Sarah Palin will accept most federal stimulus fundsANCHORAGE, Alaska — Alaska Gov. Sarah Palin will sign bills accepting most of the federal stimulus funds available to the state, her spokeswoman said Tuesday. |
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