Archive for August, 2009
Rep. Frank eyes Fed audit, emergency lending curbs (Reuters)
WASHINGTON (Reuters) –
Rep. Barney Frank, the chairman of the U.S. House of Representatives Financial Services Committee, said he plans legislation to restrict the Federal Reserve's emergency lending powers and subject the central bank to a "complete audit."
At a recent town hall meeting, Frank said the House would pass a bill to use an audit to [...]
30Aug2009 | it-y | 0 comments | Continued
GM to form China venture, invest $293 million (Reuters)
Reuters – General Motors said on Sunday it has agreed to set up a light commercial vehicle production venture with major Chinese automaker FAW Group, with total investment of 2 billion yuan ($293 million).
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30Aug2009 | it-y | 0 comments | Continued
Employees aim for up to 5 percent stake in VW (Reuters)
FRANKFURT (Reuters) –
The roughly 370,000 employees of Volkswagen (VOWG.DE) and Porsche are striving initially to acquire a stake of up to 5 percent in the automotive group, VW's labor chief told a German newspaper.
"I don't know how much we will end up with. It certainly won't be 10 percent overnight, but between one and five [...]
30Aug2009 | it-y | 0 comments | Continued
Stocks mostly lower; Nasdaq buoyed by Intel news (AP)
NEW YORK – Investors balked at extending the market’s recent rally Friday despite an improved outlook from Intel Corp.
Stocks closed mostly lower, as losses among health care stocks offset small gains in technology companies. The Dow Jones industrials lost about 36 points, breaking an eight-day winning streak.
Trading was quiet, as it has been all week, [...]
Dow, S&P dip; Nasdaq ekes out gain on Dell, Intel (Reuters)
NEW YORK (Reuters) –
U.S. stocks mostly slipped on Friday after a weak consumer sentiment report offset positive news from bellwethers Dell Inc (DELL.O) and Intel Corp (INTC.O).
Support from the two companies, however, let the Nasdaq eke out a tiny gain.
All three major indexes still posted their second weekly advance, although the gains [...]
30Aug2009 | it-y | 0 comments | Continued