Former Obama aide Summers withdraws from Fed chair consideration
WASHINGTON (Reuters) – Former Treasury Secretary Lawrence Summers withdrew on Sunday from consideration to succeed Federal Reserve Chairman Ben Bernanke after fierce opposition from within the Democratic Party hurt his chances of being confirmed in Con…
Taiwan’s HTC trims U.S. workforce, shares tumble
TAIPEI (Reuters) – HTC Corp laid off around 20 percent of its U.S.-based staff in what it called a move to streamline its operations after a period of growth, sending its shares tumbling on Monday.
Geithner still not interested in being Fed chair: source
WASHINGTON (Reuters) – Former U.S. Treasury Secretary Timothy Geithner is still not interested in being the next head the Federal Reserve, a source familiar with his thinking said on Sunday, after front-runner Lawrence Summers withdrew his name from co…
Former Obama aide Summers withdraws from Fed chair consideration
WASHINGTON (Reuters) – Lawrence Summers, a former top aide to President Barack Obama and Treasury secretary under President Bill Clinton, withdrew on Sunday from consideration to succeed Federal Reserve Chairman Ben Bernanke, after liberal pressure sou…
Wall Street trading in U.S. fuel credits hurts consumers: NYT
(Reuters) – Wall Street banks, including JPMorgan , have engaged in speculative trading and stockpiled U.S. renewable fuel credits turning a federal environmental program into a profit stream, The New York Times reported on Sunday.
Dollar slips, bonds & shares rally as Summers drops out
SYDNEY (Reuters) – The U.S. dollar slid while bonds and shares rallied in Asia on Monday after Lawrence Summers dropped from the race to be head of the U.S. Federal Reserve.
Credit Suisse banker to lead Lloyds and RBS stake sales
(Reuters) – James Leigh-Pemberton, chief executive of Credit Suisse’s British arm, will be appointed the new head of UK Financial Investments (UKFI) on Monday, according to a Credit Suisse internal memo seen by Reuters.
Dark side of the mooncakes: China’s war of graft hits high-end pastries
BEIJING (Reuters) – Gold-encrusted mooncakes stuffed with shark’s fin are out of favour ahead of this week’s mid-autumn festival in China after a crackdown on corruption killed off demand for such lavish pastries – long used as a way to bribe officials…
Obama accepts Summers’ withdrawal from Fed chair consideration
WASHINGTON (Reuters) – President Barack Obama said on Sunday he has accepted the decision of his former top economic aide Lawrence Summers to withdraw from consideration as chairman of the Federal Reserve.
Flurry of Chinese plans to build aviation hubs raises concern
BEIJING (Reuters) – More than 50 cities in China have answered Beijing’s call for cleaner economic growth with plans for aviation hubs, airports clustered with industrial zones. The problem is that they may not all be needed.
