International Business News http://www.ibtimes.com/rss/feed/us/finance.rss All articles are copyrighted by IBTimes.com 120 30 http://www.ibtimes.com/rss/feed/us/finance.rss http://www.ibtimes.com/images/top_logo_ibt2_3.gif China on Saturday shrugged off international pressure to appreciate its currency, saying developed countries should focus on the quality of their own economic policy-making. Chinese Finance Minister Xie Xuren, speaking after finance ministers and central bank governors of the Group of 20 nations met in Scotland, said countries with global reserve currencies should work to maintain the currencies' value to avoid destabilising the world economy. http://www.ibtimes.com/articles/20091107/china-presses-developed-world-on-policy-after-g20.htm http://www.ibtimes.com/articles/20091107/china-presses-developed-world-on-policy-after-g20.htm Sat, 07 Nov 2009 20:21:31 EST Group of 20 finance ministers and central bankers pledged on Saturday to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured. http://www.ibtimes.com/articles/20091107/g20-pledge-support-economy-until-recovery-firms.htm http://www.ibtimes.com/articles/20091107/g20-pledge-support-economy-until-recovery-firms.htm Sat, 07 Nov 2009 20:16:08 EST Treasury Secretary Timothy Geithner on Saturday stressed the necessity of keeping global economic stimulus in place until recovery is assured and opposed the utility of a tax on financial transactions as a way to dampen risky bank behavior. http://www.ibtimes.com/articles/20091107/stimulus-not-transactions-tax-needed-geithner.htm http://www.ibtimes.com/data/articleimgs/223714-treasury-secretary-timothy-geithner-points-duringpress-conference.jpg http://www.ibtimes.com/articles/20091107/stimulus-not-transactions-tax-needed-geithner.htm http://www.ibtimes.com/articles/20091107/stimulus-not-transactions-tax-needed-geithner.htm Sat, 07 Nov 2009 14:56:02 EST Wall Street firms are in a quandary about getting involved with a planned public offering of Russian aluminum producer UC RUSAL because its founder has been barred from getting a U.S. visa on account of allegations that he is connected to organized crime, the Wall Street Journal reported on Saturday. http://www.ibtimes.com/articles/20091107/wall-street-firms-skittish-about-rusal-ipo-report.htm http://www.ibtimes.com/data/articleimgs/223713-russian-tycoon-deripaska-speaks-duringconference-in-moscow.jpg http://www.ibtimes.com/articles/20091107/wall-street-firms-skittish-about-rusal-ipo-report.htm http://www.ibtimes.com/articles/20091107/wall-street-firms-skittish-about-rusal-ipo-report.htm Sat, 07 Nov 2009 14:48:01 EST Corruption costs developing nations $20 to $40 billion each year, while emerging markets and financial centers are increasingly havens for stolen assets, a top World Bank official said Saturday. http://www.ibtimes.com/articles/20091107/corruption-costs-poorer-states-up-to-40-billionyear.htm http://www.ibtimes.com/articles/20091107/corruption-costs-poorer-states-up-to-40-billionyear.htm Sat, 07 Nov 2009 14:48:01 EST Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year. http://www.ibtimes.com/articles/20091107/regulators-close-gateway-bank-prosperan-bank.htm http://www.ibtimes.com/articles/20091107/regulators-close-gateway-bank-prosperan-bank.htm Sat, 07 Nov 2009 13:56:02 EST Britain urged world governments on Saturday to consider a levy on banks to fund future bailouts, departing from long-held opposition, though there was little sign of the consensus needed to make it fly. http://www.ibtimes.com/articles/20091107/uk-gives-impetus-to-global-banks-tax.htm http://www.ibtimes.com/data/articleimgs/223712-britains-prime-minister-gordon-brown-addresses-the.jpg http://www.ibtimes.com/articles/20091107/uk-gives-impetus-to-global-banks-tax.htm http://www.ibtimes.com/articles/20091107/uk-gives-impetus-to-global-banks-tax.htm Sat, 07 Nov 2009 13:48:02 EST The U.S. jobless rate unexpectedly jumped to 10.2 percent last month, a 26-1/2-year high, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount. http://www.ibtimes.com/articles/20091107/jobless-rate-surges-to-10percent.htm http://www.ibtimes.com/articles/20091107/jobless-rate-surges-to-10percent.htm Sat, 07 Nov 2009 11:56:01 EST World governments should consider urgently a levy on banks to fund future bailouts, British Prime Minister Gordon Brown said on Saturday, departing from London's longstanding resistance to a global tax. http://www.ibtimes.com/articles/20091107/britain-gives-impetus-to-global-tax-on-banks.htm http://www.ibtimes.com/data/articleimgs/223710-britains-prime-minister-gordon-brown-speaks-as.jpg http://www.ibtimes.com/articles/20091107/britain-gives-impetus-to-global-tax-on-banks.htm http://www.ibtimes.com/articles/20091107/britain-gives-impetus-to-global-tax-on-banks.htm Sat, 07 Nov 2009 11:24:02 EST U.S. Treasury Secretary Timothy Geithner said high unemployment rates show that economic recovery is still perilous and governments need to maintain stimulus as long as necessary to ensure sustained growth. http://www.ibtimes.com/articles/20091107/geithner-says-need-to-keep-stimulus-on.htm http://www.ibtimes.com/data/articleimgs/223711-britains-chancellor-of-the-exchequer-darling-chats.jpg http://www.ibtimes.com/articles/20091107/geithner-says-need-to-keep-stimulus-on.htm http://www.ibtimes.com/articles/20091107/geithner-says-need-to-keep-stimulus-on.htm Sat, 07 Nov 2009 11:16:02 EST World governments should consider urgently a levy on banks to fund future bailouts, British Prime Minister Gordon Brown said on Saturday, departing from London's longstanding resistance to a global tax. http://www.ibtimes.com/articles/20091107/uk-gives-ground-on-global-tax-on-banks.htm http://www.ibtimes.com/data/articleimgs/223709-britains-prime-minister-brown-delivers-his-speech.jpg http://www.ibtimes.com/articles/20091107/uk-gives-ground-on-global-tax-on-banks.htm http://www.ibtimes.com/articles/20091107/uk-gives-ground-on-global-tax-on-banks.htm Sat, 07 Nov 2009 07:16:01 EST Small wind energy companies could be taken over cheap because fresh funding for the sector is set to flow selectively to bigger names, placing them in a stronger negotiating position. http://www.ibtimes.com/articles/20091107/wind-sector-cash-inflow-may-blow-small-firms-away.htm http://www.ibtimes.com/data/articleimgs/223707-wind.jpg http://www.ibtimes.com/articles/20091107/wind-sector-cash-inflow-may-blow-small-firms-away.htm http://www.ibtimes.com/articles/20091107/wind-sector-cash-inflow-may-blow-small-firms-away.htm Sat, 07 Nov 2009 01:05:51 EST Software, biotech firms and others who develop new ways to do business will be watching closely on Monday as the U.S. Supreme Court hears a case that could determine if such innovations can win patent protection http://www.ibtimes.com/articles/20091107/utop-court-hear-business-method-patent-case.htm http://www.ibtimes.com/data/articleimgs/223708-court.jpg http://www.ibtimes.com/articles/20091107/utop-court-hear-business-method-patent-case.htm http://www.ibtimes.com/articles/20091107/utop-court-hear-business-method-patent-case.htm Sat, 07 Nov 2009 00:42:13 EST Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year. http://www.ibtimes.com/articles/20091106/uregulators-close-gateway-bank-prosperan-bank.htm http://www.ibtimes.com/articles/20091106/uregulators-close-gateway-bank-prosperan-bank.htm Fri, 06 Nov 2009 21:48:01 EST As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer. http://www.ibtimes.com/articles/20091106/stocks-eye-retailers-as-jobless-ranks-swell.htm http://www.ibtimes.com/articles/20091106/stocks-eye-retailers-as-jobless-ranks-swell.htm Fri, 06 Nov 2009 21:00:02 EST Bank regulators closed Home Federal Savings Bank, of Detroit, on Friday, the 117th U.S. bank to fail this year as deteriorating loans continue to take their toll on financial institutions. http://www.ibtimes.com/articles/20091106/ucloses-home-federal-savings-in-detroit.htm http://www.ibtimes.com/articles/20091106/ucloses-home-federal-savings-in-detroit.htm Fri, 06 Nov 2009 20:48:01 EST Private equity firm Blackstone Group LP <BX.N> posted a forecast-beating quarterly profit on Friday and said it is gearing up for more deals and IPOs as the lending and equity markets recover. http://www.ibtimes.com/articles/20091106/blackstone-profit-tops-view-sees-more-deals-ahead.htm http://www.ibtimes.com/articles/20091106/blackstone-profit-tops-view-sees-more-deals-ahead.htm Fri, 06 Nov 2009 20:48:01 EST Warren Buffett's Berkshire Hathaway Inc said it plans to limit the amount of business underwritten by its reinsurance operations, as it prepares to spend roughly $26 billion to buy railroad operator Burlington Northern Santa Fe Corp. http://www.ibtimes.com/articles/20091106/berkshire-reinsurance-volume-limited-burlington.htm http://www.ibtimes.com/data/articleimgs/223706-berkshire-reinsurance-volume-limited-by-burlington.jpg http://www.ibtimes.com/articles/20091106/berkshire-reinsurance-volume-limited-burlington.htm http://www.ibtimes.com/articles/20091106/berkshire-reinsurance-volume-limited-burlington.htm Fri, 06 Nov 2009 20:46:57 EST California was awarded $19.5 million in a settlement against Royal Dutch Shell Plc's U.S. unit for not storing fuel properly at filling stations in the state, Attorney General Jerry Brown said on Friday. http://www.ibtimes.com/articles/20091106/shell-pay-19mln-california-violations.htm http://www.ibtimes.com/data/articleimgs/223705-shell-to-pay-19mln-for-california-violations.jpg http://www.ibtimes.com/articles/20091106/shell-pay-19mln-california-violations.htm http://www.ibtimes.com/articles/20091106/shell-pay-19mln-california-violations.htm Fri, 06 Nov 2009 20:42:18 EST Citigroup Inc said on Friday that new accounting rules for securitization trusts may prevent the bank from funding some of its assets with a top debt rating. http://www.ibtimes.com/articles/20091106/citigroup-says-rules-may-hit-securitization.htm http://www.ibtimes.com/data/articleimgs/223704-citigroup-says-new-rules-may-hit-securitization.jpg http://www.ibtimes.com/articles/20091106/citigroup-says-rules-may-hit-securitization.htm http://www.ibtimes.com/articles/20091106/citigroup-says-rules-may-hit-securitization.htm Fri, 06 Nov 2009 20:37:39 EST