Financial news on August 8th, 2009
Business and Financial news
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..
The so-called Great Recession seems to be at or near an end because of efforts by policy makers. Read more..
SKNL North America and Emerisque Brands announced Friday that they had completed the acquisition of assets of the bankrupt suit maker Hartmarx. Read more..
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..
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..
Platinum Equity is competing with two Boston-based groups to buy New England’s largest newspaper from The New York Times Company. Read more..
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..
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..
President Obama told Canadians not to fear the “Buy America” provisions in federal stimulus bills. But manufacturers say those provisions hurt. Read more..
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..