Financial news on August 23rd, 2008
Business and Financial news
Alan J. Fuerstman, the chief executive of Montage Hotels and Resorts, talks about staff training and retention. Read more..
The steep decline in vehicle sales and rapid shift in the market to smaller cars has prompted three automakers to seek a significant increase in a government loan program. Read more..
As the government reported that the economy stagnated in the quarter, the country’s financial regulator asked banking executives to prepare for an economic downturn. Read more..
International Personal Finance serves as a lender to people of modest means in Central and Eastern Europe with little or no access to conventional banks. Read more..
The chairman of the Federal Reserve outlined an ambitious proposal for overseeing the credit markets and preventing a rerun of the current crisis. Read more..
Stock in Lehman Brothers soared on a report that the state-run Korea Development Bank was considering buying the bank, an idea that a spokesman for the South Korean firm said was “erroneous.” Read more..
The chance of losing your seat may be higher this fall, but airlines are offering more compensation. Read more..
Anxiously awaiting a move by the Treasury Department and spurned by large investment firms, Freddie Mac and Fannie Mae find themselves unable to raise capital. Read more..
The two industry Goliaths are discussing a partnership that would give Google’s search service a prominent spot on the screens of Verizon phones, according to people briefed on the talks. Read more..
A combination of weak economic growth, slowing demand and shifting perceptions has sent oil prices down 21 percent from last month’s peak. Read more..