Citi’s 2009 pay and bonus cuts to stay in place
WASHINGTON (Reuters) – Cuts in 2009 pay and bonuses for Citigroup’s top 100 executives ordered by the Obama administration’s pay czar will remain in place despite the bank’s deal to exit the government’s bailout program, a Treasury official said on Monday.
US stocks rise after strong sales data
US stocks edged higher after retail sales growth in November proved to have been twice as strong as expected
US banks to repay rescue funds
Citigroup and Wells Fargo unveiled plans to sell a total of up to $30bn in stock and return a combined $45bn to US taxpayers in a move that will free them from heightened government supervision but could hit shareholders
Wall Street hits fresh highs for the year
A multi-billion dollar take-over deal by ExxonMobil helped Wall Street hit fresh highs for the year
Dollar flat, Asia stocks waver before Fed meeting
HONG KONG (Reuters) – The dollar steadied on Tuesday while Asian stocks wavered as investors turned cautious ahead of a meeting of the U.S. Federal Reserve although Abu Dhabi’s decision to throw a lifeline to Dubai continued to bolster risk appetite.
Geithner: TARP to earn healthy profit for U.S
WASHINGTON (Reuters) – Plans from Wells Fargo & Co and Citigroup to repay taxpayer funds will put the U.S. government on track to reduce its bailout investments in banks by more than 75 percent, while earning a healthy profit for the U.S., Treasury Secretary Timothy Geithner said on Monday.
Exxon Mobil to buy XTO Energy in big U.S. gas bet
NEW YORK/HOUSTON (Reuters) – Exxon Mobil Corp plans to buy XTO Energy Inc for about $30 billion in stock, in a move that thrusts the U.S. energy giant to the forefront of North America’s fast-growing natural gas industry.
November US retail sales increase 1.3%
US retail sales jumped for a second consecutive month in November, as demand picked up in a broad array of industries, offering hope that a consumer revival could be in store
Oracle pledge pushes Sun deal forward
Oracle unveiled a 10-point list of ‘commitments’ it said should reassure the European Commission that MySQL, the open-source database business owned by its takeover target Sun Microsystems, would remain ‘a competitive force’ after the change in ownership
