Monthly Archives: March 2011

CHICAGO (AFP) – General Motors has sold its stake in Delphi Corp. back to its former parts subsidiary for $3.8 billion, the automaker said Thursday. GM — which launched the largest initial public stock offering in history last year after … Continue reading →

CALGARY, Alberta (Reuters) – Enbridge Inc’s C$5.5 billion ($5.7 billion) oil pipeline to Canada’s West Coast from Alberta would likely not be killed off if the Conservatives lose the upcoming election, as its economic importance is too great, its chief … Continue reading →

SAN FRANCISCO – The U.S. housing market may be struggling to regain its footing, but the $100 million sale of a single-family home in the heart of Silicon Valley shows that luxury properties are still in demand. Russian billionaire Yuri … Continue reading →

BRUSSELS (AFP) – The European Commission, the European Central Bank and the IMF welcomed Ireland’s overhaul of its stricken banking system Thursday as a major step towards restoring the sector back to health. “Today’s comprehensive announcements by the Irish authorities … Continue reading →

WASHINGTON (Reuters) – The House Financial Services Committee plans to vote in early May on a bill to wind down Fannie Mae and Freddie Mac within five years, Representative Spencer Bachus, the panel’s chair, said on Thursday. That move would … Continue reading →

LISBON, Portugal – Portugal’s financial plight deepened Thursday when official figures showed the debt-stressed country’s budget deficit last year was 8.6 percent of gross domestic product — way above the government target of 7.3 percent that was intended to allay … Continue reading →

NEW YORK – The euro climbed against the dollar Thursday as an inflation reading in Europe bolstered investor expectations that the European Central Bank will raise interest rates next week. Consumer prices in euro countries were up 2.6 percent in … Continue reading →

WASHINGTON/NEW YORK (Reuters) – Former Berkshire Hathaway (BRKa.N)(BRKb.N) executive David Sokol’s trading in Lubrizol (LZ.N) shares as he pitched the company to Warren Buffett is a blurring of personal and professional profit-seeking that could attract a hard look from regulators. … Continue reading →