Reuters: GM and Chrysler said closing dealers was essential to their restructuring. Reuters: The Justice Department is probing big tech employee recruiting. Reuters: Medical bills underlay 60% of American bankruptcies.
China Petroleum (PTR) is buying 45.5% of Singapore Petroleum for just over $1 billion and will probably move to purchase the balance of the company. China recently proposed a deal to lend…
Ed Liddy, the former head of Allstate who joined AIG (AIG) as chairman and chief executive officer in September quit today. He said he would stay on until the company found a…
Douglas A. McIntyre Reuters: Chrysler is already seeing positive effects from bankruptcy. Reuters: The US is working with GM (GM) on a Chapter 11 filing as the June1 deadline looms. Reuters: Pimco’s Gross says US…
American International Group, Inc. (NYSE: AIG) has announced that Chairman and CEO Ed Liddy will be stepping down. He is actually waiting for the board of directors to conclude a search for…
Douglas A. McIntyre The federal government will end up owning bits and pieces of businesses including banks, car companies and insurance firms as it puts money into industries weakened by the recession. The Achilles Heel…
Reuters: Congress passed a bill to put restrictions on credit card companies. Reuters: The Fed mulled increasing securities during its April meeting. Reuters: Geithner said the US was making progress fighting the…
Reuters: The Treasury is keeping banks guessing about when they can repay TARP funds. Reuters: Bank of America (BAC) has raised more than $13 billion in share sales. Reuters: Hewlett-Packard’s (HPQ) financial…
Reuters: Small businesses are having trouble finding financing. Reuters: VW has stopped tie-up talks with Porsche. Reuters: The US budget chief says there are signs the economic free fall is over. Reuters: …
Reuters Obama hopes to have healthcare bill by July Reuters Documents on Paulson’s meetings with banks forcing them to take TARP have been released Reuters Banks sued MBIA (MBI) over its $5 billion…
Reuters : Intel (INTC) said its results are running better than expected. Reuters : The government is looking at a pay overhaul in the financial sector. Reuters: Economic woes are hurting the…
According to Reuters, Bernanke says he was encouraged by the stress tests. Reuters reports that GM (GM) will probably exit the Dow. Reuters writes that Bank of America (BAC) will probably sell…
According to Reuters, Obama says his healthcare programs will save billions. Reuters reports that AIG (AIG) expects a long restructuring process. Reuters writes that Soros says the economic downturn trend is easing.…
According to Reuters, stress tests results will force ten banks to have to raise nearly $75 billion. Reuters reports that Toyota (TM) lost $6.9 billion and warned of more losses ahead. Reuters…
According to Reuters, GM (GM) is expected to post huge losses ahead of decisions about whether it will go into Chapter 11. Reuters reports that Obama is seeking budget savings due to…
