Fed's Evans says low inflation gives Fed breathing room
Charles Evans, president of the Chicago Federal Reserve Bank, said on Monday he expects the U.S. economy to grow 3.0 to 3.5 percent over the next 18 months, but that low inflation will give the central bank room to keep monetary policy easy for an extended period. Read Full Article here.
Rajaratnam, Chiesi plead innocent in Galleon case
Galleon hedge fund founder Raj Rajaratnam and co-defendant Danielle Chiesi asserted their innocence on Monday to charges of securities fraud, in what U.S. prosecutors describe as the biggest hedge fund insider trading case ever. Read Full Article here.
Weekend snowstorm cuts U.S. holiday sales upside
The heavy snowstorm that swept the East Coast of the United States over the weekend may have cost retailers the potential for any upside to holiday sales, industry experts said on Monday. Read Full Article here.
Serious U.S. mortgage delinquencies up 20 percent
Serious delinquencies among U.S. prime mortgages rose nearly 20 percent in the third quarter from the prior quarter, as the percentage of current and performing mortgages fell for the sixth consecutive quarter, banking regulators said on Monday. Read Full Article here.
Chris Liddell named GM's Vice Chairman, CFO
The former Microsoft CFO, 51, said in late November he was looking at a number of opportunities that would expand his career beyond being a CFO. Read Full Article here.
Citigroup says not seeking buyers for EMI
Citigroup said it was not seeking buyers for EMI, the British music group whose owners, Terra Firma TERA.UL, are suing the U.S. bank for billions of dollars in damages relating to its 2007 buyout. Read Full Article here.
U.S. pay czar allows incentives for key AIG employee
U.S. pay czar Kenneth Feinberg yielded on Monday to pleas from American International Group to modify terms for a top employee the embattled insurer said was vital to its regaining stability. Read Full Article here.
U.S. cap and trade looks out of reach in 2010
U.S. lawmakers face an uphill battle enacting a climate bill in 2010 that includes a cap-and-trade market in greenhouse gases, after this month's U.N. meeting in Copenhagen failed to hammer out a global pact on emissions cuts. Read Full Article here.