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Obama: U.S. can't afford to extend tax cuts for rich

Reuters Business News - 9 hours 41 min ago
PARMA, Ohio (Reuters) - President Barack Obama, fighting to keep Democrats in charge of Congress, said on Wednesday the United States could not afford to extend Bush-era tax cuts for the rich and accused Republicans of being fiscally irresponsible.


Categories: Financial Media

Crisis CEOs Sullivan and Peek find new jobs

Reuters Business News - 10 hours 12 min ago
NEW YORK (Reuters) - Two former chief executives who were criticized during the financial crisis for driving their firms to the brink have found new homes.


Categories: Financial Media

The day ahead: September 9, 2010

Reuters Business Video - Wed, 08/09/2010 - 23:38
Sept. 8 - The world's largest hamburger maker McDonalds, reports global sales after a seven percent growth figure in July.
Categories: Financial Media

Bankers urge government to pull plug on Fannie, Freddie

Reuters Business News - Wed, 08/09/2010 - 23:35
WASHINGTON (Reuters) - The federal government should take mortgage finance giants Fannie Mae and Freddie Mac off life support sooner rather than later, the Mortgage Bankers Association urged on Wednesday.


Categories: Financial Media

Fed report shows widespread signs growth easing

Reuters Business News - Wed, 08/09/2010 - 23:31
WASHINGTON (Reuters) - The economy has shown "widespread signs" of slowing over recent weeks, the Federal Reserve said on Wednesday in a report suggesting that while the recovery has been faltering, the economy may skirt a second recession.


Categories: Financial Media

Instant view: Obama's tax proposals

Reuters Business Video - Wed, 08/09/2010 - 22:24
Sept. 8 - Economic Policy Institute's Josh Bivens reacts to U.S. President Barack Obama's speech on the economy in Ohio.
Categories: Financial Media

Flash crash report: plunge still a mystery: sources

Reuters Business News - Wed, 08/09/2010 - 22:09
WASHINGTON/NEW YORK (Reuters) - Regulators probing the stock market "flash crash" last May still have not uncovered a single cause but will point to "stub quotes" and other previously identified issues as having exacerbated the market's dramatic drop, according to two sources familiar with the probe.


Categories: Financial Media

Wall Street's early bonus tax dodge

Reuters Business Video - Wed, 08/09/2010 - 22:03
Sept. 8 - Reuters Breakingviews columnist James Pethokoukis says with tax cuts due to expire at year's end, some Wall Street firms may move forward their annual bonuses.
Categories: Financial Media

Fed report shows widespread signs growth easing

Reuters Business News - Wed, 08/09/2010 - 21:38
WASHINGTON (Reuters) - The economy has shown "widespread signs" of slowing over recent weeks, the Federal Reserve said on Wednesday in a report suggesting the recovery was faltering along the East Coast and in the Midwest.


Categories: Financial Media

Goldman NY proprietary traders consider next move

Reuters Business News - Wed, 08/09/2010 - 20:39
NEW YORK (Reuters) - Members of Goldman Sachs Group Inc's New York Principal Strategies team are in talks with several groups, including KKR, Perella Weinberg, BlackRock Inc and Carlyle Group, to possibly join one of the firms, a source familiar with the matter said.


Categories: Financial Media

California seeks to fine UnitedHealth up to $9.9 billion

Reuters Business News - Wed, 08/09/2010 - 20:17
LOS ANGELES (Reuters) - California regulators are seeking fines of up to $9.9 billion from a unit of health insurer UnitedHealth Group Inc, citing mismanaged medical claims, failure to pay doctors and other lapses.


Categories: Financial Media

BP part responsible for oil spill

Reuters Business Video - Wed, 08/09/2010 - 19:59
Sep.8 - BP part blames Transocean, Halliburton for Deepwater spill, Vodafone sells China Media stake, German exports help fuel recovery.
Categories: Financial Media

Former AIG CEO Sullivan joins Willis Group

Reuters Business News - Wed, 08/09/2010 - 19:59
NEW YORK (Reuters) - Former AIG Chief Executive Martin Sullivan is getting another chance.


Categories: Financial Media

BP shifts blame for oil spill

Reuters Business Video - Wed, 08/09/2010 - 19:34
Sept 8 - BP shifted much of the blame for a rig blast that led to the United States' worst-ever oil spill onto its contractors Transocean and Halliburton. Jon Decker reports.
Categories: Financial Media

Economists scale back growth outlook

Reuters Business Video - Wed, 08/09/2010 - 19:29
Sept 08 - High unemployment and signs of weakness in the housing market have economists once again pulling back their growth forecasts. Bobbi Rebell reports.
Categories: Financial Media

PersonalFinance: Shopping for dividends

Reuters Business News - Wed, 08/09/2010 - 19:16
WASHINGTON (Reuters) - Dividends are nice -- especially when bank accounts are paying less than 1 percent in interest. If you can buy shares of a company like General Electric, Kellogg or Waste Management and pick up an immediate yield of more than 3 percent, why wouldn't you?


Categories: Financial Media

Sanofi pitched $71 offer to Genzyme: report

Reuters Business News - Wed, 08/09/2010 - 18:52
BOSTON (Reuters) - Sanofi-Aventis SA pitched a new offer to acquire U.S. biotechnology company Genzyme Corp for $71 a share in exchange for the opportunity to conduct "partial due diligence," according to DealReporter, which cited a source close to the discussions.


Categories: Financial Media

HSBC faces thorny issues in hunt for new chairman

Reuters Business News - Wed, 08/09/2010 - 18:20
LONDON (Reuters) - For a bank that prides itself on smooth successions, HSBC is suddenly scrambling to pick its next chairman.


Categories: Financial Media

Glaxo hires Goldman Sachs banker as new CFO

Reuters Business News - Wed, 08/09/2010 - 18:10
LONDON (Reuters) - Drugmaker GlaxoSmithKline insisted there would be no change to its cautious stance on deal-making, after announcing it had hired one of Europe's top M&A bankers as its new finance chief.


Categories: Financial Media

Economists further scale back U.S. growth outlook

Reuters Business News - Wed, 08/09/2010 - 17:41
NEW YORK (Reuters) - Stubbornly high unemployment and signs of persistent weakness in the housing market have prompted economists to further cut their outlook for U.S. growth in the second half of the year, a Reuters poll showed on Wednesday.


Categories: Financial Media