U.S.
AIG Leads Gains in Rescued Firms on Speculation It Will Divest More Assets American International Group Inc.
surged, leading gains by financial companies bailed out by the
U.S. government, on speculation the insurer will sell more
assets after raising $51 billion through deals.
U.S. Stocks Advance on Anniversary of S&P 500 Index's 2009 Bear-Market Low U.S. stocks rose on the anniversary
of the 2009 bear-market low for the Standard & Poor’s 500 Index
amid speculation the economy will continue to recover from the
worst contraction since the Great Depression.
Citigroup Plans $2 Billion TruPS Sale After Repaying U.S.: Credit Markets Citigroup Inc., seeking to bolster
capital after repaying bailout funds to the Treasury, is selling
trust preferred securities as rising investor demand drives
borrowing costs to near the lowest in almost five years.
Bank Capital Rules Should Limit Use of Credit-Default Swaps, Gensler Says Regulators should restrict banks’
use of credit-default swaps to prevent their capital
requirements from falling to the “dangerously low levels”
reached during the financial crisis, Commodity Futures Trading
Commission Chairman Gary Gensler said.
Hedge Funds Return 0.5% in February as Stocks Recover, U.S. Rates Stay Low Hedge funds returned 0.5 percent in
February, led by North American managers, as global stock
markets rose on signs of recovery in corporate earnings and U.S.
interest rates are likely to remain low, Eurekahedge Pte said.
Abbott to Buy Facet for $450 Million to Add Experimental Cancer Medicines Abbott Laboratories, maker of the
arthritis drug Humira, agreed to buy Facet Biotech Corp. for $27
a share in cash, for a net $450 million, adding experimental
medicines in cancer and immunology.
Toyota Reviewing California Report of Stuck Gas Pedal in Prius Hybrid Car Toyota Motor Corp., struggling to
regain a reputation for quality after unintended acceleration
forced the recall of millions of vehicles, will investigate a
report in California of a Prius hybrid that sped out of control.
Baltic Trading IPO Raises $228 Million at Low End of Forecast Price Range Baltic Trading Ltd., the New York-
based shipping company formed to operate dry-bulk vessels,
raised $228 million in its initial public offering after selling
shares at the low end of its price range.
InterMune Wins FDA Advisory Panel's Backing for Lung Therapy; Shares Jump InterMune Inc. won a U.S. panel’s
backing to introduce the first treatment for a deadly lung
disease that afflicts about 100,000 Americans. The
recommendation sent shares more than 62 percent higher in
extended Nasdaq trading.
`Bullish' Biggs Sees U.S. Stocks Advancing 10% to 15% in Next Few Months Barton Biggs, who recommended buying
U.S. stocks in March of last year when the Standard & Poor’s 500
Index sank to a 12-year low, said American equities may rise 10
percent to 15 percent over the next couple of months.
Jobless Benefits Bill Clears Hurdle as Senate Moves Closer to a Final Vote A $138 billion plan to extend
unemployment benefits through the rest of this year cleared a
procedural hurdle in the U.S. Senate as lawmakers moved closer
to putting the measure to a final vote.
Biden Calls Israel Housing Plan Threat to Peace Talks Amid Visit to Region Vice President Joe Biden condemned
an Israeli plan to build new houses in East Jerusalem, saying it
threatened to undermine a U.S. effort to restart the Israeli-
Palestinian peace process that had brought him to the region.
Christie Says He Can't Fire, Furlough New Jersey Workers Due to Wage Deal New Jersey Governor Chris Christie
said he’s unable to lay off or furlough unionized state workers
to help close an $11 billion budget gap.
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