AP – Federal Reserve Chairman Ben Bernanke made a fresh pitch Saturday to retain oversight of small banks, contending that what the Fed learns from that role helps it assess the overall health of the entire U.S. financial system.
AP – Tokyo subway workers observed a moment of silence Saturday to mark the 15th anniversary of a nerve gas attack by a religious cult, Japan’s deadliest act of domestic terrorism.
AP – India’s central bank has unexpectedly hiked key interest rates a quarter of a percentage point, as the bank tries to cool high inflation amid a faster-than-expected economic rebound.
AP – A Lehman Brothers whistleblower warned his bosses that accounting gimmicks the bank used before its collapse may have been illegal, his lawyer said Friday.
Reuters – Minister of commerce and industry Anand Sharma said on Friday that progress in concluding global trade talks was behind schedule but that it was up to political leaders to decide if they can meet their own year-end deadline for a deal.
AP – A key senator has agreed with the head of the Federal Deposit Insurance Corp. to change new Senate legislation to ensure an end to the “too-big-to-fail” approach that brought the government rushing in to bail out big banks in the financial crisis.
AP – Regulators on Friday shut down seven banks in five states, bringing to 37 the number of bank failures in the U.S. so far this year.
AP – A convicted embezzler who snagged more than $9 million in business tax credits from the state of Michigan has been charged with defrauding an elderly neighbor.
AP – A Lehman Brothers whistleblower warned his bosses that accounting gimmicks the bank used before its collapse may have been illegal, his lawyer said Friday.
AP – Contractor URS Corp. and the state of Minnesota reached a $5 million settlement Friday in the state’s lawsuit over the 2007 downtown Minneapolis bridge collapse that killed 13 people and injured 145 others.
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