Business and Finance news

Sun Hung Kai Properties Ltd. shares jumped after the developer sold 900 homes in Hong Kong for HK$4.2 billion ($540 million) over the weekend, fueling speculation the city’s housing market is overheating.
Shares of the world’s biggest developer by market value added 1.7 percent to HK$101.80 at 10:41 a.m. Hong Kong time after gaining […]

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The federal government has offered Hawaii $16.6 million in stimulus relief to help cover the costs of prescription drugs for residents eligible for both Medicare and Medicaid.
The U.S. Department of Health and Human Services announced Thursday that the temporary boost is part of the American Recovery and Reinvestment Act of 2009. It comes in the […]

The Missouri Supreme Court has thrown out $125,000 in damages awarded to a former employee of Pepose Vision Institute of Chesterfield because a juror made anti-Semitic comments.
The high court’s decision requires a trial judge to examine allegations of prejudicial remarks made by one or more jury members and, upon finding said allegations to be true, […]

Just a few years ago you could count on getting the bulk of your money back for almost any home-improvement project you took on. Today merely replacing a toilet seat can feel like throwing caution, and cash, to the wind. According to a study from Remodeling magazine, the average return on value for an […]

Stephen Roach, chairman of Morgan Stanley Asia, said investors are wrong to bet that China will restrain its unprecedented stimulus after the economy accelerated in the third quarter.
“The Chinese really are fixated on one thing and one thing alone which is social stability — they don’t want to take a risk of another […]

U.S. bank regulators, saying losses on souring commercial real-estate loans pose the biggest risk to lenders, will issue guidelines to help the institutions modify the agreements.
Reduced demand for space has led to falling rental rates, adding to losses on the loans, leaders of the Federal Deposit Insurance Corp., Office of the Comptroller of […]

International Monetary Fund Managing Director Dominique Strauss-Kahn called on leaders from the Group of 20 nations to maintain efforts to pull the world economy out of recession, and predicted China will play a larger role in shaping a sustainable recovery.
“Suddenly, we’re in a better position to have this kind of cooperation and economic […]

Senior management at Cazenove and JP Morgan are thought to be close to agreeing a price for Cazenove’s share of their JPMorgan Cazenove joint venture before the end of the year, the Independent on Sunday newspaper said.
Cazenove and JP Morgan Chase & Co created the joint venture in 2005 and under the terms of […]

Smaller U.S. banks may need $12 billion to $14 billion in additional capital to cope with troubled loans still on their books, the Congressional Oversight Panel said today in a monthly report.
The panel, which reports to lawmakers and was created to monitor the $700 billion Troubled Asset Relief Program, said the biggest U.S. […]

New Zealand central bank Governor Alan Bollard may keep the benchmark interest rate unchanged for a second month as a recovery in the housing market and business confidence signals an end to the recession.
The Reserve Bank of New Zealand will leave the official cash rate at a record-low 2.5 percent at 9 a.m. […]