BofA CEO candidates shy away from tough job
It is the most prestigious job that nobody wants. Bank of America is searching for a new chief executive, and by all accounts, it is having a tough time finding someone for the job. Read Full Article here.
Sen Dodd seeks more muscle in US financial reforms
Pushing for tougher changes in U.S. financial regulations, the Senate's top banking legislator on Tuesday proposed a new super-cop to police banks, a systemic risk agency and strong consumer protections. Read Full Article here.
Fed officials cautious on U.S. economic recovery
Three top Federal Reserve officials on Tuesday struck a cautious note on the U.S. economy, citing high unemployment, heavy reliance on government support and commercial real estate woes as hurdles to recovery. Read Full Article here.
FDIC's Bair-must pre-fund financial firm unwinding
A reserve fund must be established ahead of time to give the government the working capital it needs to dismantle large, troubled financial companies, a top U.S. bank regulator said on Tuesday. Read Full Article here.
U.S. Bancorp looks to expand credit card business
U.S. Bancorp , the sixth-largest U.S. bank by assets, is looking to expand its credit card business and is actively marketing its cards nationally, Chief Executive Richard Davis said at a conference on Tuesday. Read Full Article here.
American Express spending volume up, boosts stock
American Express Co said credit card spending increased in October from September in another sign that the worst of the financial crisis may have passed for the largest U.S. credit-card company, sending its shares up 1.5 percent to a 14-month high. Read Full Article here.
Obama warns strains unless U.S., China balance growth
The United States sees China as a vital partner and competitor, but the two countries need to address economic imbalances or risk enormous strains on their relationship, President Barack Obama said on Monday. Read Full Article here.
Toll 4th-quarter revenue to top view; shares up
Luxury homebuilder Toll Brothers Inc said on Tuesday said it expected fourth quarter revenue to drop 30 percent, but blew past Wall Street's expectations by nearly $100 million, and the company's shares rose 5.4 percent in after-hours trading. Read Full Article here.
GM board approves plug-in Cadillac hybrid -sources
The board of General Motors Co has approved a plan to produce a plug-in hybrid for the luxury Cadillac brand that will adapt technology developed for the upcoming Chevrolet Volt, according to people briefed on the decision. Read Full Article here.