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Wednesday, May 20, 2009
In today's FT: Brown considers Mandelson for Foreign Office, BofA s...
Bank of America wants to pay back $45bn in bail-out funds by the end of the year, in a faster-than-expected move made possible by an accelerated programme to raise capital http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/WEFK6/28/h
Google has considered buying a newspaper or using its charitable arm to support news businesses seeking non-profit status, but is now unlikely to pursue either option, Eric Schmidt, chairman and chief executive, told the Financial Times http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/HCMG4/28/h
The US dollar fell to its lowest level of the year as Tim Geithner hailed signs of healing in financial markets and minutes showed the Federal Reserve saw indications of economic stabilisation at its April policy meeting http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/KAW00/28/h
Warning that the 'success of the current policy package hinges on the continued trust in the sustainability of the fiscal position', the fund called for public spending to be cut or taxes to be raised http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/6UGFD/28/h
Indiana state pension funds have asked a New York court to halt the carmaker's Chapter 11 restructuring on the grounds that it violates their legal rights and the government's authority under the troubled assets relief programme http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/NMD26/28/h
Oei Hong Leong launches lawsuit claiming Citigroup gave him "inaccurate and misleading" information on his trading exposure, in the latest example of legal actions involving banks and their clients following last year's market turmoil http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/P4IAK/28/h
Data shows that Japan's GDP slid 4% quarter-on-quarter as domestic demand shrank and the export rout continued. The fall in output is equivalent to a 15.2% fall on an annualised basis http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/1R1QE/28/h
Deep cuts are expected in California following the ballot defeat, which will hit the state's creaking school system and weaken provision of essential public services, such as police, healthcare and firefighting http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/TDS5F/28/h
A report into child abuse in children's homes run by Irish Roman Catholic religious organisations found that sexual abuse was 'endemic', even though the Church knew about it http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/M7KVB/28/h
Treasury officials believe the European Commission could insist that the bank shrink its balance sheet – possibly through asset disposals – or accept restrictions over its behaviour in the market http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/QWE70/28/h
Target, the US discount retailer, underlined how far it has slipped behind its larger rival Wal-Mart in the recessionary economy, which has fuelled its fierce proxy battle over board seats with Bill Ackman, the activist investor http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/WEFKW/28/h
Schaeffler is looking at restructuring the terms of its takeover of rival Continental, in a move that could see Continental take operational control and leave the Schaeffler family with majority ownership of the enlarged group http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/G07GI/28/h
A broad measure of commodity prices, led by oil, closed at a new high for the year on Wednesday, while the dollar fell as risk indicators painted an increasingly favourable picture of financial conditions http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/WEFXJ/28/h
US stocks suffered a late sell-off as a downward revision to growth figures and the progress of a bill to overhaul credit card lending helped tip the markets into negative territory http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/QWEZQ/28/h
Icap was among the sharpest fallers as the FTSE 100 slipped from a four-month high. Shares in the inter-dealer broker lost 4.3 per cent to 404p on word its chief executive had cut his stake http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/P4IZC/28/h
The dollar plunged to a four-month low against the euro on Wednesday after Tim Geithner, US Treasury secretary, said the financial system was "starting to heal" after a period of severe trauma http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/O5YAZ/28/h
Barack Obama's complex intervention is an inefficient – and probably ineffective – way of meeting the twin aims he has set for the US motor industry: to curb fuel consumption and dependence on foreign oil and help the Detroit three "once more outcompete the world", says John Gapper http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/D82TW/28/h
Today's drones may be more precise than the crude bombers of the past, but they will not create a secure environment for Iraqi, Pakistani, Afghan or US interests, writes Priya Satia http://link.ft.com/r/WDI4RR/43CPL/2CYXF/4F43D/3NTS2/28/h
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