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US Slowly Clawing Out of Recession: Fed's Beige Book

U.S. economic conditions stabilized or improved modestly in most parts of the country, according to a Federal Reserve report Wednesday that suggested the economy was slowly clawing out of a recession. In its "Beige Book" of anecdotal reports on the economy, which was prepared at the Federal Reserve Bank of Richmond based on information collected before Oct ...

Big Banks Looking Good, Regionals to Take Hit: Bove

Strong trading activity will help the big banks post handsome profits in the coming quarters while their smaller counterparts will continue to languish, banking analyst Dick Bove told CNBC. Commercial real estate damage and the need to build reserves will cause about 60 percent of regional banks to post losses, the Rochdale Securities analyst said in a live interview ...
Blackstone to List Up to 8 Firms, Sell 5 Others

Private equity firm Blackstone Group is planning to list up to eight of its portfolio companies, according to a source who received a letter the firm sent to investors on Friday. The letter details that Blackstone is positioning one company - hospital staffing firm Team Health - for an IPO and evaluating the potential for seven others, the source said ...

Geithner as Crisis Manager: More Tests to Come

The startling disclosure of a secret Iranian nuclear facility late last week shoved the results of the G-20 economic conference here off center stage. That was hardly surprising, since the conference was intended as a stay-the-course session affirming the promising early results of coordinated efforts to revive the global economy ...
BofA Suspends ACORN Commitments: Report

Bank of America has suspended its current commitments to ACORN Housing, an affiliate of Association of Community Organizations for Reform Now (ACORN), a scandal-hit U.S. liberal grassroots group, the Wall Street Journal said on Monday. The banking company "will not enter into any further agreements with ACORN or any of its affiliates," pending assessments of the organization's operations, ...

Latest GDP to Show Progress, But Recovery Is Still Uncertain

The best thing about the second-quarter GDP report out this Friday is that optimists and pessimists alike can point to it as a clear indication that the economy bottomed out. "The nosedive is over," says economist David Jones of DMJ Advisors. "Nevertheless, you come out of this looking past the second quarter with a very uneven recovery picture ...

No Discussion of Second Stimulus Plan: White House

U.S. President Barack Obama's administration is not discussing a second stimulus plan, a White House budget official told Congress on Wednesday. "No one in the administration is talking about a second stimulus at this point," said Robert Nabors, deputy director of the Office of Management and Budget, who is tracking the effects of the economic recovery plan already in ...

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