Financial news on February 20, 2010

Business and Financial news
A Card Fee Still Hides in the Luggage

The Credit Card Act is reducing some fees, but the one on foreign transactions, an industry profit center, was not touched. Read more..

By RON LIEBER - The New York Times

A Shift in the Export Powerhouses

America is no longer the dominant export nation, a fact that became evident during a decade that saw a boom and a bust. Read more..

By FLOYD NORRIS - The New York Times

Blackstone Group Refinances Debt at Hilton Hotels

The Blackstone Group has reached a deal to reorganize the debt load of Hilton Hotels, shoring up the finances of one of its crown jewels. Read more..

By MICHAEL J. de la MERCED - The New York Times

Bloomberg Shifts $5 Billion Out of Friend’s Firm

The mayor is moving his fortune from Quadrangle Group 10 months after a scandal with the state pension fund. Read more..

By LOUISE STORY and MICHAEL BARBARO - The New York Times

Fewer People Late Paying Mortgage

Mortgage Bankers called the fourth quarter a crucial turning point for housing. Still, the percentage of loans in foreclosure rose. Read more..

By DAVID STREITFELD - The New York Times

Generics Face Longer Wait for Approval

Caused by a growing backlog of applications, approvals of new generics by the F.D.A. took 26.7 months last year, compared to 16.3 months in 2005. Read more..

By NATASHA SINGER - The New York Times

Real Estate Looks Risky, but Less So for Bargain Hunters

For passive investors interested in REITs or entrepreneurs seeking to buy buildings, the uncertainty in commercial realty could present opportunities. Read more..

By PAUL SULLIVAN - The New York Times

Singapore Looks for a Softer Side of Growth

As they plan for the next stage of economic growth, Singapore’s leaders are looking toward the arts. Read more..

By SONIA KOLESNIKOV-JESSOP - International Herald Tribune

Steelworkers Say Reactors Will Create Overseas Jobs

The Obama administration says building a nuclear plant in Georgia would create jobs, but steelworkers said the parts would come from foreign manufacturers. Read more..

By MATTHEW L. WALD and KEITH BRADSHER - The New York Times

U.S. Inflation Report Gives Fed Breathing Room

The latest government data on Friday reinforced the notion that more drastic efforts to tighten monetary policy were still far off. Read more..

By JAVIER C. HERNANDEZ - The New York Times

See what else happened on February 20, 2010