WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) announced a new program - the Temporary Liquidity Guarantee Program - to strengthen confidence and encourage liquidity in the banking system by guaranteeing newly issued senior unsecured debt of banks, thrifts, and certain holding companies, and by providing full coverage of non-interest bearing deposit transaction accounts, regardless [...]

Washington – According to recent data released by the Minority Business Development Agency (MBDA), women –among all minorities – are establishing their own businesses nearly twice as fast as male minority entrepreneurs and more than four times non-minority men and women. Between 1997 and 2002, the growth in number of minority women-owned firms was 57 [...]

Washington- The U.S. Treasury Department announced that Bank of New York Mellon will serve as its custodian for the implementation of the Troubled Asset Relief Program authorized under the Emergency Economic Stabilization Act. Treasury hired the New York City-based firm Monday and work began immediately to help the Department with custodial, accounting, auction management and [...]

WASHINGTON, D.C. - The Federal Reserve Board on Tuesday authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG). The secured loan has terms and conditions designed to protect the interests of the U.S. government and taxpayers.
The Board determined that, in current circumstances, a disorderly [...]

BANGALORE - Infosys Technologies Limited said on Monday it had agreed to buy British consultancy firm Axon Group plc for $753m as India’s second-biggest software services exporter looks for growth beyond an uncertain U.S. market.
The transfer of ownership to Infosys is expected to be completed by November 2008, subject to shareholder and regulatory approvals. Axon [...]

South Norwalk, Conn.  -  Richard Branson, the President of Virgin Atlantic Airways, today wrote to both US Presidential candidates warning that a proposed alliance between British Airways and American Airlines would severely damage competition on major transatlantic routes and leave consumers worse off.
In his letter to Senators Barack Obama and John McCain, Branson says that [...]