World News Center

Asia stocks rise, yen steady but outlook unclear (Reuters)

September 9, 2010

Reuters - Asian stocks edged up and the yen held below a 15-year high on Thursday, after a small rally on Wall Street driven by successful European bond auctions gave investors an excuse to lighten up on their bets.

Economists cut U.S. growth forecast again (Reuters)

September 9, 2010

Reuters - Projected U.S. economic growth for the rest of this year and next was revised down for a third month in a row by a panel of about 50 economists.

U.S. slips in WEF's competitiveness rankings (Reuters)

September 9, 2010

Reuters - Switzerland remains the world's most competitive economy, while the United States has fallen from second to fourth, according to the World Economic Forum.

Australia regulator blocks NAB's $12 billion AXA unit bid (Reuters)

September 9, 2010

Reuters - Australia's competition regulator blocked National Australia Bank's $12 billion bid for AXA Asia Pacific for a second time, dashing NAB's efforts to cement its dominance in the world's fourth-largest wealth management market.

Goldman Sachs fined $30.9 million in UK: report (Reuters)

September 9, 2010

Reuters - Goldman Sachs has been fined 20 million pounds ($30.9 million) by the UK's financial regulator for failing to disclose it was under fraud investigation by its U.S. counterpart, the BBC reported on Wednesday.

FTSE 100 closes higher (AFP)

September 9, 2010

AFP - London shares closed higher on Wednesday after a boost from a successful Portuguese debt auction, although many financial stocks remained weak.

Highlights from the Fed's latest economic survey (AP)

September 9, 2010

AP - Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.

Spartech posts fiscal 3Q loss, misses expectations (AP)

September 9, 2010

AP - Plastic sheet and packaging maker Spartech Corp. reported a net loss for its fiscal third quarter on Wednesday and said that despite higher revenue, the overall market recover is slower than expected.

Summary Box: Ireland to split Anglo Irish Bank (AP)

September 9, 2010

AP - SPLIT: Ireland plans to split its most troubled financial institution, Anglo Irish Bank, into a "good" deposit bank and a "bad" toxic-debt bank. The move comes as the nation seeks to reassure international lenders that it is dealing with the Irish debt crisis.

FDIC's Bair warns of government "exposure" in mortgages (Reuters)

September 9, 2010

Reuters - A key U.S. banking regulator raised concern on Wednesday about the risk of "exposure" the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.

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