Financial news on September 11, 2010

Business and Financial news
Dubai World Says Deal on Debt Is Nearly Final

The state-run investment body said that 99 percent of its creditors had agreed to terms for a restructuring. Read more..

By CHRIS V. NICHOLSON - The New York Times

Ex- Chief of Quellos Admits Swindling the I.R.S. Out of $240 Million

Jeffrey I. Greenstein, former chief of the defunct investment firm, admitted bilking $240 million from the I.R.S. Read more..

By LYNNLEY BROWNING - The New York Times

G.M. Chief to Make $9 Million a Year

The annual package includes $1.7 million in salary and a mix of stock, some part of a long-term incentive plan. Read more..

By NICK BUNKLEY - The New York Times

Guilty Plea in Fraud by Adviser to Stars

The adviser, Kenneth I. Starr, admitting that he cheated wealthy and elderly clients out of tens of millions of dollars. Read more..

By JULIE CRESWELL and COLIN MOYNIHAN - The New York Times

H.P.’s Blundering Board

When Hewlett-Packard’s board ousted its chief executive, Mark V. Hurd, it neglected to make a legally binding deal to keep him from jumping to a rival. Read more..

By JOE NOCERA - The New York Times

Japan Plans Intervention to Stem Rise in the Yen

As the Japanese currency hit a fresh 15-year high against the dollar this week, pressuring exports, the government signaled tougher action to rein it in. Read more..

By HIROKO TABUCHI - The New York Times

Profit Falls at Smith & Wesson as Gun Sales Slow

The Smith & Wesson Holding Corporation, the gun maker, said its quarterly earnings fell by about half as sales of firearms declined. Read more..

By NYT - The New York Times

Successor to Feinberg as Pay Czar Is Named

The Obama administration named a Treasury Department lawyer to succeed Kenneth R. Feinberg in the position of setting pay guidelines for executives at four companies still getting aid from the government bailout fund. Read more..

By THE ASSOCIATED PRESS - The New York Times

Tax Cuts May Prove Better for Politicians Than for Economy

The Congressional Budget Office found that extending the Bush tax cuts would be the least effective way to reduce unemployment. But the White House largely favors the cuts. Read more..

By DAVID KOCIENIEWSKI - The New York Times

Vacancies Strain White House’s Goals for Economy

A half-dozen appointed posts with vast powers over the economy remain unfilled even as President Obama signaled that he was close to choosing a director for a new consumer bureau. Read more..

By SEWELL CHAN - The New York Times

See what else happened on September 11, 2010