Financial news on August 8th, 2009

Business and Financial news
Adding Up the Costs of Tougher Banking Rules

Jaime Caruana, chief executive of the Bank for International Settlements, thinks slower world growth is a necessary trade-off for better banking regulation. Read more..

By KARINA ROBINSON - International Herald Tribune

As Economy Turns, Washington Looks Better

The so-called Great Recession seems to be at or near an end because of efforts by policy makers. Read more..

By DAVID LEONHARDT - The New York Times

At Long Last, Hartmarx Is Sold to Investors

SKNL North America and Emerisque Brands announced Friday that they had completed the acquisition of assets of the bankrupt suit maker Hartmarx. Read more..

By THE NEW YORK TIMES - The New York Times

Berkshire Posts Profit After a Rare Loss

Berkshire Hathaway reported a 14 percent increase in second-quarter profit as the improving stock market lifted the value of derivative contracts and its investments. Read more..

By BLOOMBERG NEWS - The New York Times

British Bank Posts Wider Loss as Bad Debts Climb

The Royal Bank of Scotland set aside $12.6 billion to cover bad loans, and said it expected poor earnings for the next two years. Read more..

By JULIA WERDIGIER - The New York Times

California Equity Firm Joins Bidding for Boston Globe

Platinum Equity is competing with two Boston-based groups to buy New England’s largest newspaper from The New York Times Company. Read more..

By RICHARD PÉREZ-PEÑA and MICHAEL J. de la MERCED - The New York Times

General Motors Is Planning to Hold an I.P.O. Next July

The General Motors Company, which is majority owned by the United States Treasury, intends to make an initial public offering of stock by July 10, 2010 Read more..

By BLOOMBERG NEWS - The New York Times

Professor Main Target of Assault on Twitter

The cyberattacks on popular Web services disrupted the lives of hundreds of millions of Internet users to get to one man from the republic of Georgia. Read more..

By JENNA WORTHAM and ANDREW E. KRAMER - The New York Times

To the North, Grumbling Over Trade

President Obama told Canadians not to fear the “Buy America” provisions in federal stimulus bills. But manufacturers say those provisions hurt. Read more..

By IAN AUSTEN - The New York Times

U.S. and UBS Are Given More Time to Forge Deal

A federal judge gave Switzerland and the United States more time to try to settle a legal case that sought to force UBS to disclose the names of American clients suspected of tax evasion. Read more..

By LYNNLEY BROWNING - The New York Times

See what else happened on August 8th, 2009