Category Archives: Business
FDIC announces new guarantee to fully insure bank accounts
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 … More
US Treasury Dept hires custodian under the Emergency Economic Stabilization Act
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 … More
Feds rescue AIG with $85 billion
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 … More
Infosys buys Axon for $753million
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 … More
Richard Branson Warns U.S. Presidential Candidates
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 … More