Business and Finance news

U.K. financial services companies may cut 13,000 jobs in the third quarter even as they expressed rising optimism for the first time in two years, Britain’s biggest business lobby group said.
“Conditions still remain rough but there are signs of some improvement expected in the coming months,” according to Ian McCafferty, the Confederation of […]

Leaving behind TARP will likely mean a return to the status quo for many banks — except for those hefty dividends of yesteryear.
Earlier this month, 10 of the nation’s biggest financial firms won their freedom from the government’s Troubled Asset Relief Program. In theory, that should allow these banks to begin raising their […]

South Asia’s “historic elections” in the past 18 months have advanced democracy in the region and may spur economic integration, said Sheel Kant Sharma, secretary general of the South Asian Association for Regional Cooperation.
The South Asian grouping, called Saarc, which includes India, Pakistan, Sri Lanka, Afghanistan, Nepal, Bangladesh, Maldives and Bhutan, has struggled […]

The price of a gallon of gas dipped Monday, snapping a 54-day run-up.
Nationwide, the average price for a gallon of regular unleaded gasoline edged down to $2.69, shaving just three-tenths of a cent from the previous day’s average of $2.693, according to motorist group AAA.
The single day turnaround in prices does not promise a […]

The Bank of Japan’s Tankan survey next week will probably show that large manufacturers consider the worst of the recession to be over.
An index of sentiment among large makers of electronics, cars and other goods will rise to minus 43 from a record low of minus 58 in March, economists predict the report […]

The Treasury Department warned U.S. financial institutions Thursday that the North Korean government may resort to "deceptive financial practices" to get around economic sanctions.
The advisory from the Treasury’s Financial Crimes Enforcement Network comes as the Obama Administration steps up its efforts to prevent North Korea from furthering its nuclear weapons program.
The government said […]

The Obama administration’s overhaul of financial-industry rules faces a lobbying assault on Capitol Hill, as lawmakers question the Federal Reserve’s role and bankers say the plan may hinder economic growth.
President Barack Obama announced his proposals yesterday in the White House, and banks, hedge funds and commodities traders quickly pointed to provisions they didn’t […]

The Obama administration’s overhaul of financial-industry rules faces a lobbying assault on Capitol Hill, as lawmakers question the Federal Reserve’s role and bankers say the plan may hinder economic growth.
President Barack Obama announced his proposals yesterday in the White House, and banks, hedge funds and commodities traders quickly pointed to provisions they didn’t […]

VANERSBORG, Sweden–Saab Automobile secured a key court ruling on Wednesday to cut almost $1 billion in debt owed mainly to U.S. parent General Motors, moving a step closer to new ownership by luxury sportscar maker Koenigsegg.
The ruling came after General Motors said on Tuesday it would sell Saab to Koenigsegg in a proposed […]

Fitch Ratings Ltd. said it will maintain Japan’s sovereign debt rating at AA- even after the government abandoned its goal of balancing the budget by 2011.
“We maintain a stable outlook on Japan’s ratings, suggesting there will be no change in the coming year,” James McCormack, head of Asian sovereign ratings at Fitch, wrote […]