Business and Finance news

The European Central Bank said its offerings of three-month cash will return to variable interest rates on April 28. President Jean-Claude Trichet made the announcement at a press conference in Frankfurt.
“Amounts will be set with the aim of ensuring smooth conditions in money markets” and avoiding “significant spreads” between the ECB’s benchmark rate […]

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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 […]

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Pakistan’s central bank aims to resume cutting interest rates when inflation eases, Governor Salim Raza said.
Inflation will slow as the effects of higher energy costs wear off, Raza said in an interview in Singapore today, without saying when. Consumer prices may rise between 11 percent and 11.5 percent in the six months through […]

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 […]

Little more than a decade ago, Monsanto Co. began selling the corn seed with a novel gene to help farmers ward off a pest known as the European corn borer.
This year, the Creve Coeur-based agricultural biotech giant expects to sell 4 million acres worth of a new line of corn seed called […]

General Motors has suspended production of Hummer vehicles pending Chinese government approval of its deal to sell the unit to Sichuan Tengzhong Heavy Industrial Machinery Co., a GM spokesman said Thursday.
The H3 and H3T, the last two Hummer models still being made, are produced at GM’s Shreveport, La., factory. The factory, which also makes […]

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 […]

A group of noteholders of bankrupt regional theme park operator Six Flags Inc said on Sunday it submitted an alternative reorganization plan that transfers most of the equity to them.
The group said their plan, submitted to Six Flags’ board of directors on November 25, was supported by noteholders owning more than $500 million of […]

Twitter Inc. will reportedly try premium accounts in Japan through its subsidiary there, according to reports from Asia on Friday.
Media Asia reported that an official from DG Mobile, a subsidiary of Twitter's Japanese partner Digital Garage, talked about the plans at the Mobidec2009 conference.
The site said the premium accounts will show some text on tweets […]