bailout
General Motors' Next Big Problem: Making Europe Profitable
9:01AM 11/11/2011
By John Rosevear, The Motley Fool
Company News, Honda Motor Co, Ford Motor Co, Toyota, General Motors, Autos
GM made $2.2 billion in North America in the third quarter, but it couldn't expand on that number with earnings abroad. Now the bailed out, revamped and much-improved automaker has to find a way to make Europe profitable -- because the Continent is essential to its global operations.
Resentment Builds Ahead of Bank Transfer Day
2:30PM 11/04/2011
People, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co, Banking
On Saturday, tens of thousands will march, protest and move their money out of big banks. But plenty of Americans haven't waited for Bank Transfer Day. For Frank Sheldon of Seattle, his journey to a credit union started in 2008 when his old bank was absorbed by J.P. Morgan Chase.
It's Europe's Fault: They're Holding Back the Worldwide Recovery
12:00PM 10/24/2011
Many European nations have deficits that make the U.S. look thrifty, and over a year after their problems came to light, they're still holding the worldwide recovery back. But because they share the euro, normal solutions aren't available, which means the EU must bite the bullet and accept an orderly default, or watch matters spiral downward.
Tiny Slovakia looked set on Tuesday to reject the expanded eurozone bailout upon which global investors were pinning their hopes -- and at this moment, the Slovak Parliament could veto the Continent's plan for economic salvation. How did it it come to this, and what could happen next?
Oil Falls as Worries About Europe Debt Crisis Continue
2:00PM 6/20/2011
Concerns about the European financial crisis are still dragging down the price of oil. Benchmark crude for July delivery fell 32 cents to $92.69 per barrel in Monday midday trading. All eyes remain on Greece, which is trying to implement tough new austerity measures necessary to keep international aid coming.
Why the European Debt Crisis Is Far From Over
8:00AM 3/27/2011
The European debt crisis is back: Portugal is in political turmoil, and may need a major bailout, and Spain may too. But the E.U.'s strong healthy are rebelling against propping up their weaker neighbors. The real issue, though, is that the E.U. hasn't yet addressed the fundamental flaw built into it at the euro's creation.
AIG Offers to Buy Back Bad Mortgage Bonds from New York Fed
8:00PM 3/10/2011
AIG is offering $15.7 billion for a heap of toxic mortgage bonds that the Federal Reserve Bank of New York took off its hands at the peak of the financial crisis in 2008. The move is intended to reduce the amount of government money that AIG, the recipient of the largest federal bailout during the financial crisis, holds.
The Millionaire Class: Most New U.S. Senators are Rich
6:30PM 3/09/2011
Approximately 60% of first-year U.S. senators and 40% of House of Representatives freshmen are worth at least $1 million, according to the Center for Responsive Politics. That makes them far richer than most of the Americans they represent: Just 1% of the country's population has reached the $1 million mark.
Number of Troubled Banks Reach 18-Year High
10:00PM 2/23/2011
Economy, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co
The number of federally insured banks at risk of failing rose to 884 -- nearly 12% -- in the last quarter of 2010, reaching the highest level in 18 years.
General Motors Withdraws $14 Billion Federal Loan Application
3:21PM 1/27/2011
Back in 2009, General Motors applied to the Department of Energy for $14.4 billion in loans to help it manufacture more fuel-efficient vehicles. Today, with the automaker making big strides in turning around its business, GM said it no longer needs or wants the money.
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