IBT Staff Reporter

101581-101610 (out of 154954)

Montag highest paid BoA executive in 2009

Bank of America Corp's investment banking chief Thomas Montag was the company's highest paid executive in 2009, after the company assumed his contract as part of its acquisition of Merrill Lynch, according to the company's proxy filing on Friday.

Toyota hid records in accident lawsuits: Lawmaker

New allegations that Toyota withheld emails and electronic records in previous passenger injury cases are causing a top lawmaker to question the car maker's response to complaints of unintended acceleration in its vehicles.

Fed officials at odds on right level for rates

Two top Fed officials on Friday offered divergent signals on interest rates, with one arguing they should remain near zero for at least six months and another wishing to raise them sooner rather than later.

Democrats struggle to advance jobs bill

Democrats in the Congress on Friday struggled to make headway on their top legislative priority -- job creation -- as the government prepared to shut off funding for many of the measures they hope will bring down the unemployment rate.

Comic startup cashes in on star power

When Barack Obama merely mentioned how much he liked his BlackBerry, the unofficial endorsement was said to be worth as much as $50 million. While not in the same stratosphere, a small comic book startup is using caricatures of the president, First Lady Michelle Obama and other big names to drive up sales.

Myanmar court rejects Suu Kyi appeal

Myanmar's Supreme Court on Friday rejected an appeal by pro-democracy leader Aung San Suu Kyi against her house arrest, a ruling diplomats said would cast further doubt on the legitimacy of this year's election.

Inventories buoy growth, but home sales slump

The economy grew a touch more than initially thought in the fourth quarter, but a surprise drop in January home sales to a seven-month low and weaker consumer sentiment underscored the headwinds for the recovery.

Thai court seizes $1.4 bln of Thaksin wealth

Thailand's top court on Friday seized $1.4 billion (919 million pound) of former premier Thaksin Shinawatra's family assets for abuse of his power, far less than expected, in a ruling that could appease some anti-government forces.

Obamas praise Rogers for 'People's House' work

President Barack Obama and First Lady Michelle Obama on Friday commended resigning White House social secretary Desiree Rogers for working to make sure the White House was the People's House.

NY governor withdraws from election bid

New York Governor David Paterson withdrew on Friday from the state governor's race, battered by questions of impropriety for his role in an assault case involving one of his top aides.

Oil jumps nearly 2 percent on economic data, dollar

Oil jumped nearly 2 percent toward $80 a barrel on Friday, marking a more than 9 percent rise for the month, as an upward revision in U.S. gross domestic product for the fourth quarter helped revive sentiment.

White House social secretary Rogers to step down

White House social secretary Desiree Rogers, who faced criticism after a two uninvited guests attended a state dinner in November, will be resigning next month, she told Chicago Sun-Times columnist Lynn Sweet on Friday.

Fed's Evans: rates low for extended period

A top Federal Reserve official said on Friday an erratic recovery dictates low rates for at least six months, while prominent economists said unsettled U.S. financial conditions are more of a drag on the economy than generally believed.

AIG posts $8.9 billion loss on loan repay, reserves

American International Group Inc reported a quarterly loss of $8.9 billion, hurt by loss reserves and efforts to repay the U.S. government, as it struggles to find its feet more than a year after its $182.3 billion rescue.

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