Business and Finance news

Regulators shuttered six banks on Friday, notching up 15 failed banks in the first month of in 2010.
The biggest to fall was First Regional Bank in Los Angeles, which had deposits of $1.87 billion. The others were Community Bank and Trust in Cornelia, Ga.; Florida Community Bank in Immokalee, Fla.; First National Bank of […]

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Paul McKee got his tax credits.
In the final hours of 2009, Missouri officials awarded the developer $19.6 million, a key piece of financing for McKee’s ambitious plan to rebuild a big chunk of north St. Louis.
The funds come in the form of tax credits that pay McKee back for buying hundreds of […]

Economic growth in the U.S. this quarter is accelerating even more than previously anticipated as business investment picks up and stockpiles fall at a slower pace, according to economists at Morgan Stanley in New York.
The world’s largest economy is poised to grow at a 5.1 percent annual rate from October through December, according […]

WASHINGTON — One of the biggest challenges to ending the foreclosure crisis is this: A surprising number of homeowners who get their monthly payments reduced fall behind again within a year.   When borrowers get into financial trouble, lenders have several ways to help. They can offer grace periods, longer repayment schedules, lower interest […]

When U.S. retail chains report November sales this week, investors will learn whether they have gone far enough to protect profits against a weak start to the holiday shopping season.
Early data on weekend shopping from U.S. Thanksgiving Day on Thursday through Sunday showed a slight increase in retail sales, pressuring shares from Wal-Mart Stores […]

The head of the U.S. Federal Deposit Insurance Corp. said on Sunday that she wanted to end the “too big to fail” doctrine and shrink the shadow banking system that operates outside the reach of regulators.
FDIC Chairman Sheila Bair, speaking to the Institute of International Finance meeting here, said a U.S. proposal to create […]

The Federal Reserve Board has rejected a request by U.S. Treasury Secretary Timothy Geithner for a public review of the central bank’s structure and governance, three people familiar with the matter said.
The Obama administration proposed on June 17 a financial- regulatory overhaul including a “comprehensive review” of the Fed’s “ability to accomplish its […]

The U.S. economic recovery will be “anemic” and prone to a relapse because it lacks momentum, Morgan Stanley economist Stephen Roach said.
“The economy is growing very close to what people refer to as a stall speed,” Roach, chairman of Morgan Stanley Asia, said in a Bloomberg Television interview today. “It lacks a cushion […]

U.K. producer prices rose for a sixth month in August as the cost of raw materials jumped the most in more than a year, a sign inflation pressures are persisting in the economy.
The price of goods at factory gates climbed 0.2 percent from July, when it rose at the same pace, the Office […]

Bank of Japan Governor Masaaki Shirakawa said the economic recovery is likely to be “only moderate” as demand at home and abroad remains sluggish and prices keep falling.
“It is hard to assume a marked and rapid recovery in exports,” Shirakawa said in a speech today in Osaka, the country’s second-largest metropolitan area. Spending […]