Shareholders may have to wait for months to retrieve capital after U.S. regulators told banks not to increase dividends or buy back shares amid political and economic uncertainty surrounding the financial industry, the Financial Times reported on Wednesday.
Executives at JPMorgan Chase & Co (JPM.N) and Goldman Sachs Group (GS.N) have talked in public and to [...]
Archive for the ‘mortgage brokers’ Category
Regulators tell banks to restrict dividends, buybacks: report
March 10th, 2010 by HardMoney Writer
Tags: banks, buybacks, credit crisis, economic, financial industry, shareholders, us regulators
more...German bankruptcies up 15.5 pct in December
March 9th, 2010 by HardMoney Writer
German corporate bankruptcies rose in 2009 for the first time in six years, with filings up 15.5 percent on the year in December in the wake of recession, government data showed Tuesday.
The Federal Statistical Office said 2,583 companies filed for bankruptcy protection in the last month of 2009.
The year-on-year increase compared with a smaller 6.9 [...]
Tags: central bank, corporate bankruptcies, german bank, unemployment rate
AIG raising more cash to reimburse taxpayers
March 8th, 2010 by HardMoney Writer
American International Group will sell its overseas life and health insurance unit for $15.5 billion to MetLife Inc., the insurer said Monday, as it attempts to repay billions in government aid.
In the deal announced Monday, MetLife will pay $6.8 billion in cash, and the rest in stock and equity units.
The cash portion of the sale [...]
Tags: aig, american international group, business, Federal Reserve, taxpayers
Iowa economist predicts improvement by summer
March 6th, 2010 by HardMoney Writer
A leading economist who advises Gov. Chet Culver predicted Friday that Iowa’s economy will stay flat for much of the spring but should perk up by summer.
“I think we’re going to get through this,” said Charles Whiteman, a University of Iowa economist who sits on the governor’s Council of Economic Advisers. “I can see light [...]
Tags: businesses, iowa, iowa's economy, leading economist, tax collections
Fed emergency loans decline in most recent week
March 5th, 2010 by HardMoney Writer
Banks borrowed less from the Federal Reserve’s emergency lending program over the past week, providing further evidence that strains in the private credit markets are easing.
The Fed reported that daily borrowing from its emergency loan program averaged $13.77 billion for the week that ended Wednesday. That was down from average borrowing of $13.96 billion in [...]
Tags: banks borrowed, borrowing, central bank's, fed, federal reserve's, financial crisis, interest rate, lending
US private sector sheds 20,000 jobs in February
March 3rd, 2010 by HardMoney Writer
The US private sector shed the smallest number of jobs in two years in February, a payrolls firm said Wednesday in a report signaling a healing labor sector as the economy recovers from recession.
Non-farm private payrolls fell 20,000 in February on a seasonally adjusted basis, payrolls firm ADP said, matching the consensus forecast.
“The February employment [...]
Tags: economy recovers, households, recession, unemployment, us economic, us private sector
Obama won’t fill Fed seats this week
March 2nd, 2010 by HardMoney Writer
President Barack Obama wants to move quickly to fill vacancies on the Federal Reserve Board, but has made no decision yet and will not be announcing appointments this week, White House officials said on Tuesday.
Fed Vice Chairman Donald Kohn announced on Monday he will retire in June. His departure means Obama has three seats to [...]
Tags: barack obama, fed, Federal Reserve, us bank central, white house
January spending increases but income growth slows
March 1st, 2010 by HardMoney Writer
Personal spending jumped by a larger amount than expected in January but Americans’ incomes barely budged. The weak income growth could depress spending in the months ahead, acting as a further drag on the fragile economic recovery.
The Commerce Department said that personal spending rose by 0.5 percent in January, slightly better than expected. But incomes [...]
Tags: americans' incomes, commerce department, economic recovery, personal spending
U.S. economic growth revised up on inventories
February 26th, 2010 by HardMoney Writer
The U.S. economy grew faster than initially thought in the fourth quarter as businesses drew down inventories at a much slower pace and boosted investment, a government report showed on Friday.
In its second reading of fourth-quarter gross domestic product, the Commerce Department said the economy grew at a 5.9 percent annual rate, rather than the [...]
Tags: business investment, businesses, commerce department, economy grew, inventories, US Economy
Eurozone economic sentiment falls in February
February 25th, 2010 by HardMoney Writer
Economic sentiment in the 16 countries that use the euro worsened in February for the first time in nearly a year, the European Commission said Thursday, in a further sign that the recovery from recession has lost momentum.
With sentiment fragile and debt worries mounting across the single currency area, particularly in Greece, the Commission said [...]
Tags: economic recovery, european commission, eurozone economic, eurozone economy, recession