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Bernanke wants answers on Goldman role in Greece

Published in February 25th, 2010
Posted by webmaster in Bank News, US Markets, World Economy
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U.S. regulators are looking into how Wall Street firms like Goldman Sachs (GS.N) helped debt-stricken Greece arrange derivatives deals that critics say were used to disguise the size of its budget deficits.
Federal Reserve Chairman Ben Bernanke made the disclosure on Thursday and suggested securities regulators also wanted the

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UAL’s United Finalizes Order For Boeing Dreamliners

Published in February 25th, 2010
Posted by webmaster in Market News, US Markets, World Economy
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UAL Corp.’s (UAUA) United Airlines finalized its order to buy 25 of Boeing Co.’s (BA) 787 Dreamliners with an option to buy another 50.
United, the third-largest U.S. airline by traffic, hadn’t ordered new aircraft for 11 years. In December, United unveiled plans to order an equal number of planes from Boeing and rival Airbus, [...]

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Bharti Airtel in bid for Zain’s African assets

Published in February 25th, 2010
Posted by webmaster in Market News, US Markets, World Economy
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Indian mobile phone company Bharti Airtel has offered to buy Kuwaiti telecommunications firm Zain’s African assets for $10.7bn (£6.8bn).
In a statement, Bharti said the two companies would now enter into talks which would last until 25 March.

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GM to end Hummer after Chinese sale collapses

Published in February 25th, 2010
Posted by webmaster in Market News, US Markets
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General Motors (GM) is to wind down operations of its Hummer vehicles – after failing to complete a planned takeover by a Chinese firm.
GM did not comment on why the sale to China-based Tengzhong had collapsed. Reports have said Beijing had refused to approve the purchase.

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UK immigration from Eastern and Central Europe falls

Published in February 25th, 2010
Posted by webmaster in Market News, US Markets, World Economy
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The number of immigrants entering the UK from Central and Eastern Europe has continued to fall, according to the latest figures.
Provisional numbers from the Office for National Statistics suggest the number of people from these countries fell by a third in the year to

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JPMorgan CEO Dimon Gets $16.1 Million Bonus

Published in February 5th, 2010
Posted by webmaster in Market News, US Markets
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JPMorgan Chase, which reported $11.7 billion in profit in 2009, awarded Chief Executive Jamie Dimon a compensation package worth about $16 million.
Bankers’ compensation has been a hot-button issue amid the financial crisis, as the U.S. government spent billions in taxpayer funds to prop

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Air Products Makes $5.1 Billion Bid to Buy Airgas

Published in February 5th, 2010
Posted by webmaster in Market News, US Markets, World Economy
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Air Products and Chemicals launched an unsolicited $5.1-billion cash bid to buy rival Airgas Friday in a move to create the largest industrial gas company in North America. Airgas shares jumped 42 percent in premarket trading.
Air Products, which supplies gases such as argon, helium and nitrogen

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Toyota president Toyoda ‘deeply sorry’ for recalls

Published in February 5th, 2010
Posted by webmaster in Market News, US Markets
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Toyota President Akio Toyoda has apologised for the recall of millions of cars across the world and pledged to set up a new quality control committee.
Mr Toyoda said he was “deeply sorry” for the recalls and admitted Toyota faced “a moment of crisis”.

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UBS to Reorganize Struggling US Wealth Management

Published in February 5th, 2010
Posted by webmaster in US Markets, World Economy
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Troubled Swiss bank UBS, which has been battered by a U.S. tax evasion probe, is reorganizing its U.S wealth management division in an attempt to stem outflows.
The Swiss bank, the world’s second largest wealth manager, said on

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BG Group profits fall due to lower gas and oil prices

Published in February 5th, 2010
Posted by webmaster in Market News, US Markets, World Economy
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BG Group said its pre-tax profits fell to £857m ($1.4bn) in the three months to the end of December 2009 from £1.3bn in the same period a year ago.
Full year profits for the UK gas producer were down to £3.9bn in 2009, from £5.5bn in 2008

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