Bernanke says recession very likely over
Federal Reserve Chairman Ben Bernanke said on Tuesday that the worst U.S. recession since the Great Depression was probably over, but the recovery would be slow and it would take time to create new jobs. Read Full Article here.
U.S. rebuffing big banks' push to exit bailout
Some of the largest U.S. banks will remain caught in the government's financial bailout program for months, as officials do not expect to grant the next wave of exit approvals until near the end of the year, according to a source familiar with the matter. Read Full Article here.
Lehman bust highlights analyst group-think disease
All of Wall Street's bank analysts were caught out by Lehman's collapse -- and few have redeemed themselves since. Just a handful have dared to issue a buy on bank stocks that have surged since March -- after they all failed to slap that sell on Lehman Brothers before it went bust a year ago. Read Full Article here.
Airline trade group forecasts deeper losses for 2009
The world's airlines are expected to post losses of $11 billion this year, as weak passenger traffic and cargo demand pressures revenue, the International Air Transport Association said on Tuesday. Read Full Article here.
Gordon Gekko character still resonates on Wall St
Twenty-two years after appearing on the big screen, and one year after the collapse of investment bank Lehman Brothers, the film character Gordon Gekko continues to resonate on Wall Street. Read Full Article here.
Kraft: No need to sell assets for Cadbury bid
Kraft Foods Inc does not need to sell operations like Oscar Mayer hot dogs, Maxwell House coffee or any of its other brands to afford its $16 billion bid for British confectioner Cadbury , Kraft said on Tuesday. Read Full Article here.
No venture capital? Web start-ups look elsewhere
Web start-up companies at this year's Tech Crunch conference face a financial climate that has dried up venture capital, forcing them to turn to friends, family and foundations. Read Full Article here.