04 April 2008 12:00 [Source: ICIS news]
Nonprofit hospitals, originally set up to serve the poor, have transformed themselves into profit machines. And as the money rolls in, the large tax breaks they receive are drawing fire.
The Fed sought a low sale price for Bear Stearns to send a message that taxpayers wouldn't bail out firms making risky bets, a Treasury Department official testified, as regulators offered Congress an explanation of the rescue.
Money & Investing
Ex-UBS executive pushes break-up
Former UBS president Luqman Arnold is pushing for a break-up of the Swiss banking giant in the wake of its $37.7bn in write-downs. The surprise attack promises to increase acrimony inside UBS, which has gutted its leadership since becoming one of the hardest-hit banks in the credit crisis.
Wall Street bankers leave for private equity
As the head of JP Morgan Chase & Co's banking unit that covers private equity firms, John Coyle was at the red-hot center of the buyout boom. Now, in the midst of the bust, he has jumped ship to join a former client, private equity firm Permira.
FHA loans grow costly as banks add feesPoliticians are prodding the Federal Housing Administration to help revive the nation's housing market by enabling more Americans to obtain or refinance home mortgages. But banks that make loans insured by the federal agency are adding fees and restrictions that make those loans more costly and less widely available.
81% in poll say nation is headed on the wrong track
Americans are more dissatisfied with the country’s direction than at any time since the New York Times/CBS News poll began asking about the subject in the early 1990s, according to the latest poll.
More than 1,000 in
Testimony offers details of Bear Stearns deal
Three weeks after the market crisis that forced the rescue of Bear Stearns, federal officials and senior Wall Street executives offered their first public account on Thursday of the harrowing four days of negotiations that led to a deal to sell the investment bank to JPMorgan Chase.
Investors stalk the wounded of Wall StreetAlmost two centuries ago, as Napoleon marched on
Assessing the complex dream, legacy of MLK
Near the end of his life, the Rev Martin Luther King Jr felt cornered and under siege. His opposition to the Vietnam War was widely criticised, even by friends. He was being pressured both to repudiate the black power movement and to embrace it.
When Iraqi Prime Minister Nouri al-Maliki launched an offensive in
Back to pen and paper
Census Bureau drops plans for workers to use of wireless handheld devices to collect information from people who don't mail in forms, after problems with devices such as technical issues and rising costs.
Whistle-blowers: FAA ties are too close
Administration's reliance on airlines to voluntarily disclose safety issues creates problems, demonstrating weakness in efforts to ensure the wellbeing of all airlines, official says.
BC's 'pioneering' carbon rules worry industry Israeli official shot during tour with Canadians
BC's 'pioneering' carbon rules worry industry
Israeli official shot during tour with CanadiansAn aide to
Apple claims title of top song seller The biggest record store in the Caisse faces demands to lead bailout
Apple claims title of top song seller
The biggest record store in the
Caisse faces demands to lead bailoutCaisse de Depot et Placement du Quebec has been asked to play a lead role in a bailout plan of retail investors heading into the weekend, after the ABCP bailout committee received an earful during three stormy days of public hearings.
Farmers call off three-week lockout
Farmers yesterday suspended a 21-day lockout that stripped store shelves of produce and meat, paralysed grains exports and sparked a political crisis. They called a 30-day truce to continue negotiating with the government and warned that they would resume protests and road blockades if their demands are not met.
Far right gums up
The race to be mayor of
Ahern walks away from premiership
Irish PM Bertie Ahern, who helped broker peace in
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