Financial Crisis News

AIG approves $7M pay package for CEO Benmosche

AP - Wednesday, November 25

American International Group has approved a pay package for its new CEO Robert Benmosche of $7 million in cash and stock. More »

  • Macarthurcook REIT shareholders approve rescue by AMP

    Reuters - Tuesday, November 24

    SINGAPORE, Nov 23 (Reuters) - Shareholders of Macarthurcook Industrial Trust <MCRT.SI> approved a rescue package that means a group of investors led by Australia's AMP <AMP.AXC> will buy new shares in the firm at a heavy discount, said a source who attended an extraordinary general meeting of the REIT on Monday.

  • With Spain facing its worst recession in decades, the government will approve this week a sweeping package of reforms aimed at changing the nation's economic growth model, Prime Minister Jose Luis Rodriguez Zapatero, pictured on November 19, said Sunday.

    Spanish PM vows sweeping reforms to boost economy

    AFP - Monday, November 23

    With Spain facing its worst recession in decades, the government will approve this week a sweeping package of reforms aimed at changing the nation's economic growth model, Prime Minister Jose Luis Rodriguez Zapatero said Sunday.

  • Suspicious note and package found at Fort Benning

    AP - Sunday, November 22

    A Fort Benning spokesman says Army officials are investigating whether a suspicious note and package found at the west Georgia post is a viable threat.

  • Nebraska governor signs budget-cutting package

    AP - Saturday, November 21

    Nebraska Gov.

  • Sri Lanka reserves 'comfortable' after bailout: IMF

    Sri Lanka reserves 'comfortable' after bailout: IMF

    AFP - Saturday, November 21

    The International Monetary Fund said Friday Sri Lanka's foreign reserves have reached "comfortable levels," helped by a bailout package, but economic growth was still below potential.

  • World powers weigh new sanctions for Iran

    AP - Friday, November 20

    President Barack Obama said Thursday that the six nations dealing with Iran's nuclear program will develop a package of serious new punitive measures in coming weeks.

  • Iranian Foreign Minister Manouchehr Mottaki. President Barack Obama Thursday said Washington and its partners were now working on a package of steps to show Iran the consequences of its decision to snub a nuclear deal with the West.

    Obama warns US, partners mulling 'consequences' for Iran

    AFP - Friday, November 20

    President Barack Obama warned Thursday that the United States and its partners were working on a package of steps to show Iran the "consequences" of its decision to snub a nuclear deal with world powers.

  • Ohio business group endorses tax plan

    AP - Thursday, November 19

    A business lobbying group that helped create a package of tax changes says it supports a plan to delay income tax cuts to balance Ohio's budget.

  • Exxon, Sabic launch bids for rubber plant in Jubail

    Reuters - Thursday, November 19

    KHOBAR, Saudi Arabia, Nov 18 (Reuters) - ExxonMobil Chemical <FXON.PA> and Saudi Basic Industries Corp <2010.SE> (SABIC) have launched bids for the first package of their synthetic rubber project in Jubail, two sources at contractors said.

  • Delta: Skyteam ready with $1 bln package for JAL

    Reuters - Wednesday, November 18

    TOKYO, Nov 18 (Reuters) - Delta Air Lines Inc <DAL.N> said it and partners in the SkyTeam alliance are prepared to offer struggling carrier Japan Airlines Corp <9205.T> a support package totalling $1 billion in investment, revenue guarantees and financing.

  • FedEx launches sensor device for packages

    AP - Wednesday, November 18

    FedEx is introducing a new device that can track the temperature, light exposure and location of a package at any point in its journey.

  • Watchdog: Gov't may have overpaid to bail out AIG

    AP - Tuesday, November 17

    Officials handling the multibillion dollar bailout of insurance giant American International Group Inc. mismanaged an initial rescue attempt and may have overpaid other banks to wind down AIG's business relationships, a government watchdog says.

  • Malaysia PM wants 5 pct growth next year

    Reuters - Friday, November 13

    SINGAPORE, Nov 13 (Reuters) - Malaysia's prime minister said on Friday that he wants five percent growth next year, higher than an official 3 percent forecast. "Next year if you ask me without the stimulus package we will not get three percent.

  • ING switches into profit with restructuring

    AFP - Thursday, November 12

    Dutch banking and insurance group ING reported a sharp switch into quarterly profit on Wednesday as it restructured after a government bail-out and said it was moving into an "exciting" phase.

  • UPS sees better U.S. holiday demand, will raise 2010 rates

    Reuters - Wednesday, November 11

    SINGAPORE (Reuters) - United Parcel Service Inc <UPS.N>, the world's largest package delivery service, said on Wednesday the U.S. holiday season is likely to be better than expected as the global economy gradually recovers.

  • UPS sees better US holiday demand, will raise 2010 rates

    Reuters - Wednesday, November 11

    SINGAPORE, Nov 11 (Reuters) - United Parcel Service Inc <UPS.N>, the world's largest package delivery service, said on Wednesday the U.S. holiday season is likely to be better than expected as the global economy gradually recovers.

  • NYPD: 5th UN mission sent white powder package

    AP - Wednesday, November 11

    A fifth foreign mission to the United Nations has received an envelope with a suspicious white powder inside, police say.

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