Most interesting finance and busines news.
As if being a banker in Missouri isn’t tough enough these days, Peter Benoist of Enterprise Bank wants to set up shop in the real estate disaster zone known as Phoenix — in the skeleton of a failed bank, no less.
The banking business in Arizona is sickly indeed. The state’s banks have lost […]
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Norges Bank will probably keep the benchmark interest rate unchanged today, after becoming the first central bank in Europe to lift borrowing costs, as lower oil spending next year slows the pace of economic growth.
The Oslo-based bank will leave the overnight deposit rate at 1.5 percent, according to 11 of the 13 economists […]
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Torstar Corp.’s board of directors unanimously confirmed David Holland as president and chief executive officer on Thursday.
Holland, a chartered accountant who has worked for Torstar since 1986, had held the position on an interim basis since May.
Torstar owns the Toronto Star and thestar.com, as well as Harlequin Enterprises, Torstar Digital, Metroland Media Group and […]
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Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers.
In complaints that read like scripts for the TV series “The Sopranos,” investigators alleged suspects dropped off bags full of cash, used […]
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What do you know? The suits at troubled finance firm GMAC must like working for less money. How else to explain that GMAC is reportedly trying to get a third helping of government rescue funds?
GMAC is one of the seven firms that the Obama administration announced sweeping changes in executive compensation for last […]
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Legg Mason Inc.’s Bill Miller said odds may not favor Mohamed El-Erian’s forecast for a prolonged period of below-average economic growth.
Miller, the manager of the Legg Mason Value Trust, wrote in a letter sent today to investors that El-Erian’s perspective is an “inside view” that makes a prediction about the future based on […]
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Russia’s central bank warned that reduced access to credit is one of the bank’s main concerns, signaling policy makers haven’t finished cutting interest rates.
“Stress tests show that the situation isn’t ideal,” First Deputy Chairman Gennady Melikyan told reporters at a conference in Moscow today.
The central bank has lowered the key rate seven […]
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Builders probably broke ground in September on the most houses in 10 months, showing further stabilization in the industry at the heart of the worst U.S. recession since the 1930s, economists said before a report today.
Work began on 610,000 homes at an annual rate, up 2 percent from August, according to the median […]
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Brazil’s Central Bank President Henrique Meirelles said yields on interest rate futures reflect investor uncertainty about the course of economic policy after next year’s elections.
“Evidently there’s a discussion about what economic policy will look like in January 2011” when the next government takes office, Meirelles told reporters in Istanbul. “If you think that […]
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Billionaire Li Ka-shing, who predicted China’s stock-market bubble would burst in 2007, said the global economy won’t recover this year and told investors to be “cautious” about buying shares, especially with borrowed money.
“The worst is over for the global economy,” Li, Asia’s second-richest man, said today after his companies, Cheung Kong (Holdings) Ltd. […]
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