FDIC weighs extraordinary steps, including loans from banks, to shore up insurance fundWASHINGTON — The Federal Deposit Insurance Corp. is weighing several costly — and never-before-used — options as it struggles to shore up the dwindling fund that insures bank deposits. Freddie Mac names Fifth Third CFO Ross Kari as new financial chiefMcLEAN, Va. — Freddie Mac said Tuesday it has named a new chief financial officer, filling a post that has been occupied on an interim basis for a year. Al-Qaida releases new 9/11 viedo predicting Obama’s downfall at the hands of MuslimsCAIRO — Al-Qaida on Tuesday released a new 106-minute long video predicting President Barack Obama’s downfall at the hands of the Muslim world. Will young Obama supporters be part of the ‘change’ they want? Or let someone else do it?CHICAGO — Young Americans showed their collective power when they helped vote President Obama into office. Inspired by his message of “change,” they knocked on doors, spread flyers, voted for him by a 2-1 margin, and partied like rock-the-vote stars when he won. Analysis: Despite UN summit push, road to climate deal may extend past December and CopenhagenUNITED NATIONS — It happened in Rio, in 1992: The world officially woke up to the fact it was getting warmer outside. Seventeen years later in New York, the U.N. gathered presidents and premiers to talk about serious steps to turn down the heat. But the political climate may still be too cool for conclusive action. Byrd, longest-serving senator, admitted to hospital after fall in Virginia homeWASHINGTON — Robert Byrd, the longest serving senator in history, was admitted to a Washington-area hospital Tuesday after a fall at his home in northern Virginia. SEC, CFTC chiefs urge Congress to impose broad oversight on financial derivativesWASHINGTON — Two key regulators on Tuesday urged Congress to go beyond an Obama administration proposal and impose comprehensive oversight on the sprawling, complex market for financial derivatives blamed for worsening the credit crisis last fall. Wells Fargo Chairman Kovacevich to step down at year end; CEO Stumpf to take on added roleSAN FRANCISCO — Wells Fargo & Co. said Tuesday that Dick Kovacevich will step down as chairman at the end of 2009, after staying in the post an extra year to help the bank navigate the financial crisis. Afghan officials hide, or quit, because of increasing Taliban assassination attacksKABUL — During his two years as a provincial governor in Afghanistan, Arsalah Jamal survived four suicide attacks. Cruise liner Carnival tops forecasts for 3Q despite 20 pct drop in profitCHICAGO — Cruise operator Carnival Corp. said increased summer bookings from last-minute getaway seekers combined with falling fuel costs to help it beat third-quarter profit forecasts. CFTC chief urges Congress to impose broad oversight on financial derivativesWASHINGTON — A key regulator on Tuesday urged Congress to go beyond an Obama administration proposal and impose comprehensive oversight on the sprawling, complex market for financial derivatives blamed for worsening the credit crisis last fall. Airline shares fall, led by American parent AMRNEW YORK — Airline stocks fell Tuesday, led by the parent of American Airlines, which announced it would issue new stock and debt to build up its cash reserves. Veterans Affairs Department said to be implementing suicide prevention programsWASHINGTON — The Veterans Affairs Department appears to have stepped up its suicide prevention efforts. Byrd, longest-serving senator, taken to hospital after fall in Virginia homeWASHINGTON — Robert Byrd, the longest serving senator in history, has been taken to a hospital after a fall at home in the Washington suburbs. FDIC considers borrowing from banks to replenish dwindling insurance fundWASHINGTON — Regulators have approached big banks about borrowing billions to shore up the dwindling fund that insures regular deposit accounts. Jenny Sanford, wife of scandalous SC Gov. Mark Sanford, is writing a memoirNEW YORK — The wife of South Carolina Gov. Mark Sanford, who separated from her husband in the wake of his affair with an Argentine woman, is writing a memoir. Government index shows US home prices rose 0.3 percent in July; still 10.5 percent below peakWASHINGTON — U.S. home prices rose slightly in July from a month earlier, according to a government index, further evidence the housing market is stabilizing. Congress expected to reject Obama’s proposed mandate that banks offer ‘plain vanilla’ productsWASHINGTON — Congress is expected to reject President Barack Obama’s proposed mandate that banks offer customers “plain vanilla” financial products, such as a 30-year fixed mortgage. FedEx’s freight unit President and CEO Doug Duncan to retire on Feb. 28NEW YORK — FedEx Corp., the world’s second largest package delivery company, said Tuesday the president and CEO of its freight unit will retire. Report: FDIC considers borrowing from banks to replenish dwindling insurance fundWASHINGTON — Healthy big banks may lend billions to shore up the government fund that insures regular deposit accounts, according to a report Tuesday. Senate Finance committee starts work on ‘common-sense’ plan to expand coverageWASHINGTON — After months of closed-door wrangling, the Senate Finance committee has finally started work on a sweeping health care overhaul. ConAgra Foods 1Q profit falls 63 percent, but outlook raised on strong consumer businessOMAHA, Neb. — ConAgra Foods Inc. said Tuesday that its fiscal first-quarter profit dropped 63 percent because of a gain last year, but adjusted results beat analysts’ estimates. 1st day of fall brings snow, cold to Colorado, freezing temperatures acros mountains in WestVAIL, Colo. — The first day of fall feels more like the first day of winter for some of the mountain West, with light snow and chilly temperatures across Colorado and freeze warnings for higher elevations in New Mexico, Wyoming, Nevada, Utah and Arizona. Close Portuguese elections may bring end of ‘ferocious’ Socialist reformerLISBON, Portugal — Just before he came to power in a landslide four years ago, Portuguese Prime Minister Jose Socrates described himself in political terms as “a ferocious animal” — an uncompromising reformer who would turn Portugal into one of Europe’s go-getters. Recession to bring biggest annual fall in CO2 emissions in 40 years
Ahead of midterm elections, Obama choosing sides in family, er party, squabblesWASHINGTON — A nod here. A nudge there. And the weight of the White House backing them up. New ways to think about post-meltdown investing: Diversify more broadly, raise skepticismBOSTON — Stocks always rise over the long haul. Bonds are for retirees and investors with little taste for risk. Companies rarely cut their dividends. Gov’t aid makes loans for homes and cars cheap. Just 1 problem: banks not so eager to lendNEW YORK — It’s a good time to borrow money for a home, car or small business. Baucus moving ahead on health care without GOP support, Rangel says Obama’s price tag too lowWASHINGTON — Caught off guard, congressional Democrats are grappling with President Barack Obama’s unexpected call for immediate access to insurance for those with pre-existing medical conditions, as well as richer Medicare drug benefits than envisioned in early versions of health care legislation. Analyst raises GE price target, earnings estimates on improved NBC marginsHARTFORD, Conn. — Shares of General Electric Co. rose Tuesday as an analyst raised his price target Tuesday for the industrial and financial conglomerate on improved margins for its NBC-Universal television property. |
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LONDON - The worldwide recession might have sent the financial markets in a tizzy, but reports indicate that it is also likely to bring the biggest annual fall in the world’s carbon dioxide (CO2) emissions in 40 years.
