U.S.
Yellen Said to Be Obama Pick for Fed Vice Chairman to Replace Donald Kohn Federal Reserve Bank of San
Francisco President Janet Yellen is President Barack Obama’s
pick for vice chairman of the central bank in Washington, two
people with knowledge of the selection process said.
U.S. Stocks Gain as Health Care, Banks Send S&P 500 to Highest Since 2008 U.S. stocks rose, sending the
Standard & Poor’s 500 Index to the highest level since October
2008, as Citigroup Inc. led a bank rally and investors
speculated that health-care reform will be harder to pass.
JPMorgan, Citigroup Helped Cause Lehman Illiquidity, Examiner Report Says JPMorgan Chase & Co. and Citigroup
Inc. helped cause the failure of Lehman Brothers Holdings Inc.
by demanding more collateral and changing guarantee agreements,
according to a court-ordered report on the biggest bankruptcy in
U.S. history.
Pandit Says He `Wouldn't Be `Surprised' If Treasury Weighing Sale of Stake Citigroup Inc. Chief Executive
Officer Vikram Pandit said the U.S. Treasury Department will be
free to sell its 27 percent stake in the bank starting next week
and that he “wouldn’t be surprised” if the government were
considering a sale.
Buffett Gets $100,000 Salary for 29th Year, Still Pays for Own Phone Calls Warren Buffett, the billionaire
chairman of Berkshire Hathaway Inc. who pays the company for
postage and personal phone calls, received a $100,000 salary for
a 29th straight year as he arranged a $27 billion acquisition.
KKR Leads $235 Million Debt Refinancing, Note Sale for Harden Healthcare KKR & Co., the private-equity firm
run by Henry Kravis and George Roberts that’s expanding its
investments outside traditional buyouts, led a $235 million
refinancing for Harden Healthcare LLC.
Junk Bonds Beating Investment Grade as TXU, Freescale Soar: Credit Markets High-yield, high-risk bonds are
beating investment-grade debt for the first time this year as
confidence in the U.S. economic recovery gains strength.
Toyota Sets Goal of Regaining U.S. Market Share Lost to Recalls Within '10 Toyota Motor Corp. set a 2010 goal
of regaining most of the U.S. market share lost in the past two
months after global recalls of 8 million vehicles damped demand,
the No. 2 U.S. sales executive said.
Microsoft Xbox Overtakes Nintendo Wii to Become Top Console Seller in U.S. Microsoft Corp.’s Xbox 360 overtook
Nintendo Co.’s Wii to become the best-selling game console in
the U.S. for the first time in more than two years, helped by
the introduction of the “BioShock 2” shooting title.
Corrections Corp. of America Sued by Idaho Inmates Over `Gladiator School' Corrections Corp. of America Inc.,
the biggest U.S. private prison operator, was sued by six
inmates claiming it allowed the Idaho Correctional Center to
become so violent that it’s known as “gladiator school.”
Gates Sees Saudi Help, International Support for Tougher Sanctions on Iran Defense Secretary Robert Gates said
yesterday the U.S. has enough backing from other nations to make
tougher sanctions work against Iran and signaled that Saudi
Arabia may try to persuade China, its biggest oil customer, to
go along.
Senate Leader Harry Reid's Wife Suffers Broken Back, Neck in Auto Accident U.S. Senate Majority Harry Reid’s
wife suffered a broken neck and back in an auto accident today,
injuries that aren’t life-threatening, his spokesman said.
Health-Care Bill Faces New Hurdle After Ruling Hinders Quick Passage Plan Republicans said the Senate
parliamentarian threw up a hurdle to congressional Democrats’
plans to pass changes to U.S. health-care legislation through a
process called reconciliation.
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