Financial news on May 02, 2009
Business and Financial news
The American trade deficit has fallen to the lowest level in a decade, but that’s not likely to last. Read more..
Banks in Georgia and New Jersey were seized by regulators, raising the tally of failed lenders in the United States to 31. Read more..
Lawyers for the automaker said they wanted to move quickly. “I don’t think that any American can doubt these are extraordinary times,” the lead lawyer, Corinne Ball of Jones Day, said. Read more..
If the Chrysler legal process unfolds as the White House hopes it will in coming weeks, the bankruptcy option may look increasingly attractive for General Motors as well. Read more..
The Clorox Company trimmed its full-year revenue forecast and said sales growth will slow further in 2010 because of the stronger dollar. Read more..
Federal drug regulators warned consumers to stop using the Hydroxycut line of popular weight-loss products, citing reports of a death due to liver failure and other serious health problems. Read more..
Macquarie, the largest Australian investment bank, cited billions of dollars in losses from the global slowdown and announced the placement of nearly $400 million in new shares. Read more..
Are we surfacing from a financial crisis, or getting in deeper? The data can be persuasive for either side. Read more..
Wall Street was little changed as investors received more signals of muted activity in the industrial sector. Read more..
If Chrysler were going into bankruptcy with available exit financing, the bondholders would have every right to fight for their share. But it has no such financing available. Read more..