June 20, 2009 | Refinancing

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Archive for June 20th, 2009

German bank opposes massive loan to Porsche: minister

June 20th, 2009

AFP – FRANKFURT (AFP) – German state-owned bank KfW is opposed to a massive loan request from ailing luxury car maker Porsche and its chances of obtaining any public aid are slim, according to the economy minister.

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Michelin may open India factory in 3 years: CEO

June 20th, 2009

AFP – PARIS (AFP) – French tyre giant Michelin, which plans to cut almost 1,100 jobs in France, aims to open a factory in India in three years, the company’s chief executive Michel Rollier said Saturday.

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Defending his proposed financial overhaul, Obama warns he’s ready for the fight

June 20th, 2009

The Canadian Press –
WASHINGTON – President Barack Obama is warning critics of his vast financial overhaul plan that he has no patience for debate from hard-line defenders of a system that has exploited bewildered consumers. Pushing for a law this year, Obama said: “While I’m not spoiling for a fight, I’m ready for one.”

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Telecoms firm Nortel to sell assets to Nokia

June 20th, 2009

AFP – MONTREAL (AFP) – Canadian telecommunications firm Nortel, in bankruptcy protection since January, will sell most of its wireless business to Nokia Siemens Networks for 650 million dollars.

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Stanford indicted in massive U.S. fraud case

June 20th, 2009

RICHMOND, Virginia (Reuters) – Texas billionaire Allen Stanford, three associates and a top Caribbean regulator were indicted on fraud, conspiracy and obstruction charges in an elaborate billion pyramid scheme to bilk investors, U.S. Justice branch officials said on Friday.

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Schwarzenegger jet makes "steep" emergency landing

June 20th, 2009

LOS ANGELES (Reuters) – California Governor Arnold Schwarzenegger’s jet made a “quick, steep, but safe” emergency landing in Los Angeles on Friday after the pilot reported smoke coming from the cockpit’s instrument panel, his office said.

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Apple CEO Jobs had liver transplant: report

June 20th, 2009

WASHINGTON (Reuters) – Steve Jobs, the chief executive of Apple Inc, received a liver transplant about two months ago but is expected to return to work later this month, the Wall Street Journal reported on Saturday.

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Moody’s warning on California debt stuns state

June 20th, 2009

SAN FRANCISCO (Reuters) – California, which is struggling to close a .3 billion budget gap, faces the prospect of a “multi-notch” downgrade in its credit rating if the state’s legislature fails to act quickly to produce a budget, Moody’s Investors Service warned on Friday.

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Jobless pain continues in most states in May

June 20th, 2009

WASHINGTON (Reuters) – Signs unemployment pains may be easing in individual U.S. states in April disappeared by May, when jobless rates jumped in 48 states and the District of Columbia, according to data released on Friday.

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U.S. regulators close two more small banks

June 20th, 2009

WASHINGTON (Reuters) – Bank regulators closed two small banks on Friday, bringing total bank failures to 39 this year as the recession and delinquent loans erode the health of financial institutions.

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