A look at economic developments and stock market activity around the world Monday: —— LONDON — Nationwide Building Society took over key assets of Scotland’s largest mortgage company, Dunfermline Building Society, in a rescue deal engineered by the Bank of England and backed by 1.6 billion pounds from the Treasury.
Monthly archives for March, 2009
White House questions viability of GM, Chrysler (AP)
President Barack Obama refused further long-term federal bailouts for General Motors and Chrysler, saying more concessions were needed from unions, creditors and others. He raised the possibility Monday of controlled bankruptcy for one or both of the beleaguered auto giants.
Obama offers incentives to spur auto sales (AP)
President Barack Obama says the federal government is preparing to offer several incentives to get Americans to buy more U.S.-made cars.
Research and Markets: In October 2008, Amnet Came under the Umbrella of Millicom International. Read More inside the 2009 Report "El Salvador – Telecoms Mobile and Broadband" (Business Wire)
DUBLIN, Ireland—-Research and Markets has announced the addition of the “El Salvador – Telecoms Mobile and Broadband” report to their offering.
AP Enterprise: Few in flood zone have insurance (AP)
As the Red River crept within view of their backyard this past week, Denette and Billy Narum had an extra incentive to pray their sandbags held. Like most people in the path of potential floods, they have no flood insurance.
Brown sets bold agenda for G20 Summit (CNNMoney.com)
This week’s London Summit brings together the leaders of the world’s 20 largest economic powers, known as the Group of 20, to discuss the global financial crisis and decide new measures to set the world on a more stable economic footing.
Idaho dairy farmers cut back as dairy prices drop (AP)
These days are there fewer black-and-white heads poking out of the steel fence along the deeply rutted dirt road through Ralph Anderson’s Magic Valley Farm.
Treasury secretary: We’ve done a lot in 8 weeks (AP)
His popularity on Capitol Hill has waxed and waned, but for Treasury Secretary Timothy Geithner it’s all part of traveling the bumpy, potholed road toward economic recovery.
Sistema Acquires Controlling Stakes in Bashkir Oil and Energy Group (Business Wire)
MOSCOW—-Sistema , the largest diversified public corporation in Russia and the CIS, which manages fast growing companies operating in the telecommunications, consumer services sectors and technology industries, today announced that it has signed an agreement with Agidel-Invest LLC, Ural-Invest LLC, Inzer-Invest LLC and Yuryuzan-Invest LLC to acquire their stakes in Bashkir Oil and Energy Group companies, including ANK Bashneft JSC, Ufaneftechim JSC, Novoil JSC, Ufaorgsintez JSC, Ufimskiy NPZ JSC and Bashkirnefteprodukt JSC.
Oil falls over 2 percent to near $51 on profit-taking (Reuters)
Oil fell more than 2 percent to hover near $51 a barrel on Monday, extending the previous session’s losses, as a bleak near-term energy demand outlook prompted investors to take profit on its recent rally.