Stock futures are flat in pre-market trading. AIG shares are up 3.5% early, on news that they're unloading 9.19million shares of Transatlantic Holdings. The move should improve their liquidity. McDonald's (MCD) is up a percent, after reporting better than expected February same-store-sales, led by strong international results.
UK regulators will investigate Kraft's takeover of Cadbury, and whether the company lied about British factory closures.
The government is weighing direct payments to encourage under-water homeowners to start the short-sale process.
Under the new program, the servicing bank, as with all modifications, will get $1,000. Another $1,000 can go toward a second loan, if there is one. And for the first time the government would give money to the distressed homeowners themselves. They will get $1,500 in “relocation assistance.”
The European Commission considers doing what they should have done 13years ago...Include a Monetary Fund with appropriate authority to effect spending changes in member countries such as Greece.
The creation of a European Monetary Fund would mark a significant step forward in the integration of the eurozone economy, which for the past 11 years has had a single currency and a common central bank but has lacked a fiscal union and clear-cut arrangements for assisting a member-state in severe financial difficulty.
Toyota's accelerator problem has become such a big issue that the company may halt the rollout of new models this year.
Speaking in an interview with The Sunday Telegraph,Tadashi Arashima, the chief executive of Toyota Motor Europe, said: "We are discussing that, if necessary, we will postpone the launch timing. For us there is the hybrid in late May, which is really key. We want to make sure that this car is properly launched without any major issues."
A new wrinkle in the battle for control of bankrupt General Growth Properties...large retailers are worried about the proposed interest by Simon Property Group, which could invite antitrust issues.
Many retailers have been unwilling to publicly criticize the proposed deal, partly because Simon already is the country's largest mall owner. But officials with the National Retail Federation, the largest trade association for U.S. retailers, say large members have complained to the trade group that the deal would give Simon so much market clout that it could dictate higher rents and sway store openings and closings.
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