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A CONSUMER BILL GIVES EXEMPTION ON PAYDAY LOANS
Mar 10th
Senator Bob Corker wants a proposed bank agency to be softer toward nonbank institutions, but critics say consumers would be hurt.
BRITAIN’S NORTHERN ROCK RETURNS TO PROFIT
Mar 10th
Northern Rock, the nationalized British mortgage lender, said Wednesday that it returned to profit in the second half of 2009 as interest income rose and losses on loans fell, The Associated Press reported.
A.I.G. SAID TO DEVISE NEW FORMULA FOR BONUSES
Mar 10th
The American International Group has formulated a new "forced ranking" system to determine bonuses and rate employee performance, The Wall Street Journal reported.
C.E.O. BONUSES FELL 22% IN 2009, STUDY SAYS
Mar 10th
U.S. consumer, financial and technology companies slashed bonuses for their chief executives by more than half in 2009, a leading firm that tracks pay data said on Tuesday, as companies moved to more closely tie executive pay to performance.
AIRPORT BUILT, IT’S TIME TO SEE IF THE TRAFFIC COMES
Mar 10th
Northwest Florida Beaches International, the first new international airport in the United States in more than decade, is also noteworthy because it is perhaps more of a real estate project than an effort to address a pressing transportation problem, The New York Times writes.
CAUTION RULES AS MAJOR INDEXES INCH FORWARD
Mar 10th
On the one-year anniversary of the stock market's plunge to 12-year lows, Wall Street found itself at another crossroads. This time, the question for investors was not so much whether the economy would turn around, but just how strong a recovery would be, The New York Times reported.
STANFORD AND MADOFF GROUPS TEAM UP FOR LOBBY
Mar 10th
Who should pay for the lies told by swindlers, and for the mistakes made by their investors? People swindled by R. Allen Stanford and Bernard L. Madoff have teamed up to lobby Congress with a proposal.
U.S. REGULATORS SAID TO TELL BANKS TO KEEP CASH
Mar 10th
While banks like JPMorgan and Goldman Sachs have enough liquidity to consider raising dividends or buying back stock, regulators have told U.S. banks to preserve their cash for the moment, The Financial Times reported.
CITI SAID TO PLAN $2 BILLION SECURITIES SALE
Mar 10th
Citigroup, seeking to bolster capital after repaying bailout funds to the Treasury, is selling trust preferred securities as rising investor demand drives borrowing costs to near the lowest in almost five years, Bloomberg News reported.
GEELY SAID TO LOCK IN VOLVO FINANCING
Mar 10th
Zhejiang Geely Holding, the Chinese carmaker that struck a deal with Ford in December to by its Swedish unit Volvo, has finally secured the necessary financing, the Swedish daily Dagens Industri reported.
