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Updated: 1 day 23 hours ago

Bernanke defends Fed's small bank supervision role

17 March, 2010 - 19:23
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday fought back against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.


Energy, financial shares push Wall St higher

17 March, 2010 - 19:06
NEW YORK (Reuters) - Stocks climbed on Wednesday, pushing the Dow to a recovery high, after a benign February inflation reading buttressed the Fed's renewed vow of low interest rates.


Boston Sci could resume ICD sales within 30 days

17 March, 2010 - 18:31
CHICAGO (Reuters) - Boston Scientific Corp. could be selling implantable heart rhythm devices again within 30 days if no new issues arise beyond the paperwork problems revealed this week.


SEC says Lehman report will be helpful

17 March, 2010 - 18:23
WASHINGTON (Reuters) - A Lehman Brothers bankruptcy examiner's report will help securities regulators in their investigation of large financial firms involved in the Wall Street meltdown, a top regulator said on Wednesday.


China unyielding on yuan as U.S. raises pressure

17 March, 2010 - 18:07
WASHINGTON/BEIJING (Reuters) - China on Wednesday rejected criticism of its exchange rate policies and said it was being made a "scapegoat" after the U.S. Congress threatened to slap duties on Chinese goods unless it revalues its yuan.


GM CFO sees chance for profit, IPO in 2010

17 March, 2010 - 17:18
DETROIT (Reuters) - General Motors Co has a "reasonable chance" to show a profit in 2010 and could sell shares by late this year though it has no timetable for an IPO that would reduce the U.S. government's majority stake, Chief Financial Officer Chris Liddell said on Wednesday.


Producer prices post biggest drop in 7 months

17 March, 2010 - 17:18
WASHINGTON (Reuters) - Producer prices in February posted their biggest fall in seven months as energy costs tumbled, validating the Federal Reserve's decision to hold interest rates very low on evidence of tame inflation.


Regulators worry over cracks in financial reforms

17 March, 2010 - 17:17
LONDON/BRUSSELS - (Reuters) - Top officials warned policymakers on Wednesday to avoid hurting global efforts to toughen up financial regulation as differences emerge over derivatives speculation, hedge funds and bank capital.


Lehman gets OK to delay disclosure statement

17 March, 2010 - 17:05
NEW YORK (Reuters) - A bankruptcy judge said Lehman Brothers Holdings Inc could delay until mid-April filing a detailed disclosure statement for its proposed plan to end its bankruptcy.


First of several job-creation bills clears Congress

17 March, 2010 - 16:19
WASHINGTON (Reuters) - A package of tax breaks and highway spending cleared Congress on Wednesday, the first of what Democrats hope will be several efforts to bring down the 9.7 percent unemployment rate.


Dodd boosts Fed in new financial reforms

15 March, 2010 - 19:17
WASHINGTON (Reuters) - The Federal Reserve would gain new powers over non-bank financial firms and keep much of its authority over banks under a new bill on financial regulatory reform unveiled on Monday by the chairman of the Senate Banking Committee, Christopher Dodd.


Phillips-Van Heusen to buy Hilfiger for $3 billion

15 March, 2010 - 19:11
NEW YORK/BANGALORE (Reuters) - Phillips-Van Heusen , owner of the Calvin Klein label, agreed to buy fashion brand Tommy Hilfiger from London-based Apax Partners in a $3 billion cash-and-stock deal to boost its presence in Europe and Asia.


Wall St. lower on China worry as energy declines

15 March, 2010 - 19:07
NEW YORK (Reuters) - Stocks slipped on Monday on nagging worries the Chinese government may tighten credit, a move that could slow growth in the global economy.


Ex-NY bank president first accused of TARP fraud

15 March, 2010 - 18:53
NEW YORK (Reuters) - The former president of New York's privately held Park Avenue Bank was arrested and charged on Monday with being the first person to attempt to steal from U.S. government bailout funds in the financial crisis.


Euro ministers discuss Greek standby aid planning

15 March, 2010 - 18:39
BRUSSELS (Reuters) - Euro zone finance ministers discussed the mechanics of a financial rescue for Greece on Monday but gave few details of their standby planning as Athens tries to fix its public finances alone.


Ex-AIG employees might sue over lower payouts

15 March, 2010 - 18:38
NEW YORK (Reuters) - Several former American International Group Inc employees might sue the insurer after it gave them less retention bonus money than they should have received, their lawyers said on Monday.


Lawmakers press for action on yuan

15 March, 2010 - 18:38
WASHINGTON (Reuters) - President Barack Obama faced growing congressional pressure on Monday to get tough with China over its currency practices, one day after Chinese Premier Wen Jiabao brushed off accusations that Beijing was undervaluing its currency for an unfair trade advantage.


Snowstorms curb industrial output, rebound seen

15 March, 2010 - 18:15
WASHINGTON (Reuters) - Industrial production braked sharply in February, held back by severe winter storms that slammed parts of the country, while manufacturing activity in New York state stalled this month.


Investigators say no explanation yet for Calif. Prius claim

15 March, 2010 - 18:05
WASHINGTON (Reuters) - Safety investigators have found no evidence so far to support or disprove a California motorist's claim that his Toyota Motor Corp Prius sped out of control on its own, and cautioned that the case may never be explained, U.S. regulators said on Monday.


Consol to buy Dominion gas assets for $3.48 billion

15 March, 2010 - 16:37
NEW YORK (Reuters) - Consol Energy Inc agreed to buy Dominion Resources Inc's Appalachian natural gas properties for $3.48 billion in cash, giving Consol a leading position in the growing Marcellus Shale field.


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