Fifteen out of the nineteen largest banks in U.S. Could sustain satisfactory capital levels even in a terrible recession that assumes they keep on paying dividends and buying back stock, Federal Reserve stated. According to the results of the stress tests conducted by the central bank, almost three years of economic expansion have assisted banks
India Banned Cotton Exportation; Merck Off to New Efficiency Measures
Last year, cotton futures had hit its record-high more than $2 per pound, rallied to close limit on Monday, which is urged by the surprising ban the Indian government made on exportation of its cotton. As a result, it has tended speculations that mills in China may have to change the course to thinning the
Tighter Supervision for Greek Finances; “Super PACs” to be probed
On Wednesday, the finance ministers of the euro zone members have insisted on a much tighter oversight of the spending and austerity measures done by Greece, regardless of the assurances given by the politicians that Athens will be going ahead with guaranteed reforms and cuts in securing the bailout amounting to $170 billion or 130
AIG on a $20B Profit Gain; More Revenue for Health Services
The insurance company that had its bailed out in 2008 with the assistance of the government, the American International Group (AIG) has reported a profit amounting to $19.8 billion for the fourth quarter last 2011, just about all of it is due to a accounting gain that is related to tax. The company also has
GE sets off new technology center; China open to greater number of US movies
GE announced on February 17 that they will open their new GE Capital Technology Center located at New Orleans, Louisiana. The company projects to produce about 300 information technology professionals in three years time, and concentrate on technologies to coerce brilliance for its financial services business, GE Capital as well as its development in new
GE Company Releases Annual Report for 2011; FDIC Closed another Bank
General Electric Company has declared today that their annual report for 2011 can be read on the website of the company at www.ge.com/ar2011, with a title “GE Works.” Jeff Immelt, the Chairman and CEO of GE, stated that it is culture that became the basis of any successful project. He emphasized that GE is not
Citigroup Inc to Sell Shares; G20 Leaders to Discuss Debt Crisis
According to reports, the Citigroup Inc. will be selling its remaining share in the largest mortgage lender in India – Housing Development Finance Corporation (HDFC) – for an amount of 102 billion rupees or $2.1 billion. A document was showed as evidence that there will be a selling, saying that the bank is offering about
