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The U.S. Treasury Department’s appeal on Friday for the final $350 billion of a market bailout fund could finally push administration officials to finance a broad mortgage modification plan endorsed by a senior bank regulator.
Federal Deposit Insurance Corp Chairman Sheila Bair’s plan to spur mortgage modifications with a government promise to share the costs […]
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Royal Bank of Scotland, Man Group and Nomura on Monday joined a growing list of financial groups acknowledging exposure to the alleged $50 billion fraud surrounding Wall Street trader Bernard Madoff.
A report in the Financial Times said HSBC Holdings Plc had emerged as one of the largest victims, with potential exposure of about $1 […]
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MONTREAL – There’s renewed optimism that the takeover of Bell Canada by a group led by the Ontario Teachers Pension Plan will go ahead.
The U.S. government has agreed to a rescue plan for Citigroup, the major U.S. bank that is the lead lender in the $52-billion purchase of Canada’s largest telecom company.
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The U.S. Federal Reserve and the European Central Bank will not cut interest rates this year to calm wild markets but may be forced to engineer rescues for more ailing financial institutions, a Reuters poll showed.
The survey of 71 economists was taken on September 17, a day after the Fed swung an $85 billion […]
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United Airlines is asking a federal judge to stop four of its pilots and the Air Line Pilots Association from what the airline says are unlawful job actions.
United, a unit of Chicago-based UAL Corp. (UAUA, Fortune 500), said Wednesday the lawsuit seeks a preliminary injunction against the union and pilots for abusing sick time […]
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Sales of homes in Long Island and Queens, New York, declined in the second quarter as mortgage companies tightened lending standards.
The number of sales fell 5.3 percent to 8,694 from a year earlier, appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said in a report today. The median price in […]
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Silverjet PLC suspended operations Friday because a key funding deal for the British business class airline failed to materialize.
Silverjet operated services to Newark airport in New Jersey and to Dubai, United Arab Emirates, from its base at London’s Luton Airport. It said discussions with possible investors were continuing but no new financing had been […]
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IBM is increasing its dividend payout 25%. The move reflects the company’s confidence that it can thrive even with an uncertain economy.
At IBM’s annual shareholder meeting Tuesday in Charlotte, the board of directors upped the quarterly dividend to 50 cents per share. For the past four quarters the payout had been 40 cents per […]
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Chrysler LLC is recalling 212,347 Chrysler Sebring and Dodge Avenger passenger cars worldwide to fix an electrical problem that could lead to engine stalling and other issues.
The National Highway Traffic Safety Administration said in a posting on its Web site the recall involves 2007-2008 Sebring and Avenger vehicles with standard tire pressure monitoring systems.
NHTSA […]
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The International Monetary Fund’s executive board has approved a broad financial overhaul plan that could lead to the eventual sale of a little over 400 tons of its substantial gold supplies.
The sale cannot occur without congressional approval as well as legislative action in many of the 184 other nations that are members of the […]
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