Reuters - The Securities and Exchange Commission is in settlement talks with several large financial institutions to resolve investigations into the awarding of municipal investment contracts, the Wall Street Journal reported on Saturday.
Reuters - A former top executive at hedge fund firm ValueAct Capital is one of seven people charged with trading on inside information in Acxiom Corp.
Reuters - President Barack Obama used his weekly radio address on Saturday to tell Americans that this week’s positive job and economic growth figures are yet more evidence that the U.S. economy is recovering.
Reuters - China’s exports face a “hard and tortuous” path to recovery as uncertainties dog the global economy’s gradual return to health, with this year’s trade surplus set to shrink from last year’s record, the Commerce Ministry said.
Reuters - U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation’s banking industry are being crippled by bad loans.
Reuters - CIT Group has met at least one of the hurdles necessary to file for a prepackaged bankruptcy, sources said, bringing the commercial lender one step closer to the fast bankruptcy process it is seeking to lower its liabilities and get back to health.
Reuters - A gradual global economic return to health will help Chinese exports grow again, but there are still many uncertainties and any recovery will be “hard and tortuous,” China’s Commerce Ministry said.
AP - Wal-Mart and two other top retailers said Friday they are suspending business with a large southwestern Michigan blueberry grower after investigators found children as young as 6 working in the grower’s fields.
Reuters - The Dow industrials suffered its worst slide since July on Friday on concerns that the economic recovery won’t be robust enough to sustain the seven-month stock rally, while financials sank on renewed worries about Citigroup’s balance sheet.
AP - The U.S. Department of Housing and Urban Development is taking action against a reverse mortgage lender in Hawaii.