MARKETS / FINANCE

The $10.5 million pay package for American International Group Inc's new chief executive Robert Benmosche will likely be approved formally by the U.S. government's compensation czar Kenneth Feinberg next week, the Wall Street Journal said, citing people familiar with the matter.

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The U.S. economy appears to have stabilized and may not need all the stimulus the central bank had planned to offer, Richmond Federal Reserve Bank President Jeffrey Lacker said on Thursday.

The number of U.S. workers filing new claims for jobless benefits fell last week to 570,000, and those collecting long-term unemployment benefits dropped to the lowest level since April, government data showed on Thursday.

With the U.S. economy mired in recession, workers are finding themselves stuck in bad jobs with such annoyances as managers who berate employees and bosses who hold meetings in bed.

Richmond Federal Reserve President Jeffrey Lacker was quoted on Thursday as saying the U.S. economy was stabilizing after a painful recession and the shattered housing market will no longer be a drag on economic activity.

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Richmond Federal Reserve President Jeffrey Lacker was quoted on Thursday as saying the U.S. economy was stabilizing after a painful recession and the shattered housing market will no longer be a drag on economic activity.

U.S. banking regulators partially retreated from a much-criticized proposal to impose new rules on private equity investment in troubled banks, aiming to encourage responsible investment in distressed banks.

U.S. banking regulators partially retreated from a much-criticized proposal to impose new rules on private equity investment in troubled banks, aiming to encourage responsible investment in distressed banks.

Robert McCann, former head of Merrill Lynch's wealth management unit, is in talks to settle a suit he filed August 24 against Bank of America Corp seeking to lift a noncompete clause, allowing him to join a chief rival, a source with direct knowledge of the situation said.

U.S. banking regulators voted on Wednesday to ease rules applying to private investments in troubled banks.

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The U.S. economy is in the early stages of a recovery but it is premature to start considering raising interest rates, a top Federal Reserve policymaker said on Wednesday.

The U.S. economy is in the early stages of recovery but it will be a while before growth starts to bring down unemployment, a top Federal Reserve official said on Wednesday.

U.S. regulators have been negotiating until the last minute on highly anticipated guidelines for private equity investments in distressed banks.

Dallas Federal Reserve President Richard Fisher said on Wednesday the U.S. economy is poised for a slow, sluggish recovery as it emerges from a painful recession.

Sales of newly built U.S. single-family homes rose in July to their fastest pace in 10 months, while orders for long-lasting manufactured goods surged, hinting a modest economic recovery was taking shape.

Dallas Federal Reserve President Richard Fisher said on Wednesday the U.S. economy is poised for a slow, sluggish recovery as it emerges from a painful recession.

U.S. regulators are likely to back down from the tough stance they took a month ago on rules for auctions of troubled banks, which could clear the way for more private equity bidders to come back into the game.

While the cash-for-clunkers auto rebate program gave the U.S. economy a strong boost, the end of the recession remains uncertain, the head of chemical maker Huntsman Corp (HUN.N) said on Wednesday.

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Sales of newly built U.S. single-family homes rose for a fourth straight month in July to set their fastest pace since last September, while the inventory of unsold homes fell to the lowest level in 16 years, a government report showed on Wednesday.

Hedge funds and bank trading desks are hiring again after the downturn and have already snapped up some of the most talented managers dislodged while firms struggled in the credit crisis, industry insiders said.

G20 finance ministers will discuss next week how to curb excessive bankers' pay but the group of leading nations is not expected to heed a French call to cap and tax bonuses, officials and analysts said.

A surge in demand for aircraft pushed new orders for long-lasting U.S. manufactured goods up at their fastest pace in two years in July, the government said on Wednesday, hinting a modest economic recovery was taking shape.

New orders for long-lasting U.S. manufactured goods recorded their biggest gain in two years in July, buoyed by a surge in aircraft orders, a government report showed on Wednesday.

New orders for long-lasting U.S. manufactured goods rose more than expected in July, posting their biggest gain in two years, according to a government report on Wednesday that offered more evidence a modest economic recovery was probably starting to take shape.

G20 countries should ensure they have plans to withdraw the huge stimuli put into their economies but are clear the fiscal and monetary boosts remain in place for now, a UK government source told Reuters on Wednesday.