Regulators shut down LibertyPointe Bank; makes 27 bank failures this year
WASHINGTON - U.S. regulators on Thursday shut down LibertyPointe Bank in New York City, boosting to 27 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.
The U.S. Federal Deposit Insurance Corp. took ...
Thursday , March 11, 2010
Exports forecast to remain strong even as rebounding economy pushes imports up
WASHINGTON - U.S. exports dipped in January, the government said Thursday, but economists weren’t fazed. They predict export growth will be a bright spot for American manufacturers through the rest of 2010.
President Barack Obama is banking on further improvement to help meet his ambitious...
Thursday , March 11, 2010
SEC chairman calls for Congress to put new oversight on derivatives
WASHINGTON - The government’s top securities regulator called Thursday for Congress to impose new oversight on financial derivatives, warning that allowing risky instruments like credit default swaps to continue unfettered could bring further economic damage.
The head of the U.S. Securitie...
Thursday , March 11, 2010
Power Corp. of Canada reports Q4 profit, as revenue falls from year ago
MONTREAL - Power Corp. of Canada said Thursday it earned $54 million in its latest quarter as revenue dropped.
The diversified conglomerate said the profit amounted to 10 cents per diluted share for the quarter ended Dec. 31 compared with a loss of $535 million or $1.20 per diluted share i...
Thursday , March 11, 2010
Closed Listowel, Ont., soup factory to make hot dogs, employ up to 500 people
LISTOWEL, Ont. - A $3-million grant from the Ontario government - along with $40 million in private funds - will help turn a closed Campbell’s Soup plant in this small southwestern community into a "very large hot dog factory," opening the shuttered doors to hundreds of new jobs.
The old s...
Thursday , March 11, 2010
