Posts Tagged ‘government’

Fiat offers $125 million for Canada’s Chrysler stake: CEO

Fiat has offered $125 million to buy the Canadian government’s stake in Chrysler Group LLC as it moves swiftly to strengthen its control of the U.S. automaker, Fiat Spa CEO Sergio Marchionne said on Saturday.

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Chrysler Said to Prepare to Pay Back Government Loans Next Week

May 18 (Bloomberg) — Chrysler Group LLC plans to repay U.S. and Canadian government loans on May 24, clearing the way for Fiat SpA to increase its ownership in the U.S. automaker, two people …

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Most Asia Stocks Fall After China Reports Property Measures

Dec. 23 (Bloomberg) — Most Asian stocks declined as developers in China fell after the government stepped up scrutiny of real estate investments to curb rising housing property prices, countering gai

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Bank scheme ‘did not lift loans’

A government plan to restore confidence to the markets worked but it did not fully succeed in boosting lending, a report says.

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FG Reconstitutes Board of Federal Mortgage Bank

The Federal Government has approved the reconstitution of the board of the Federal Mortgage Bank of Nigeria (FMBN). A statement from the office of the Special Assistant (Media/Admin) to the Minister …

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Mortgage exit fee ban could backfire

The federal government’s vow to ban mortgage exit fees on new home loans could unintentionally hurt smaller lenders.

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Calif. economic study: Gains after near-term pain

New state government reforms and a revived housing market along the coast could put California’s economy on a strong footing when it finishes its long, slow slog through a sluggish recovery, according to an economic forecast released Tuesday. Read comments

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Spanish Government to approve privatisation, scrap benefit

The Executive may also approve an increase in tax on tobacco. Zapatero cancelled an official trip to Bolivia for the Ibero-American summit to chair Friday’s meeting.

The Council of Ministers of Spain on Friday is set to pass a series of anti-recession measures which will include a reduction in taxes for SMEs (Small and Medium Enterprises) , the withdrawal of a monthly unemployment benefit worth 426 Euros (for those no longer covered by their national insurance) as well as the partial privatisation of airport handlers AENA and the national lottery.

In addition, a further unexpected measure may also be passed: An increase in the tax on tobacco.

Spanish Government President José Luis Rodríguez Zapatero, who announced new measures on Wednesday , was expected to chair Friday’s meeting after cancelling a trip to Bolivia where he was to participate in the Mar del Plata (Angentina) Ibero-American summit.

The announced package of measures seeks to boost business investment and employment via a tax cut designed to benefit 40,000 SMEs, and improve tax provisions for the investment and amplification of capital to favour all businesses regardless of their size.

The Government also plans to approve plans to privatise 30% of the national state lottery and 49% of AENA, the, up until now, wholly state-owned company which manages almost all of Spain’s airports. The Government intends to put both Madrid’s Barajas and Barcelona’s Prat airports out for tender in the hope of raising 14,000 million euros .

The Executive also intends to scrap a 426 euro benefit created last year for long-term unemployed whose usual state allowance had run out.

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China lending to top $1.2 trillion in 2010: report

HONG KONG (MarketWatch) — China’s total credit growth this year could reach 8 trillion yuan ($1.201 trillion), exceeding the government’s target of 7.5 trillion yuan in new lending, according to a report Tuesday by the state-run China Daily. About 588 billion yuan of new loans were extended in October, lifting the total loan issuance in the first 10 months of the year to 6.88 trillion yuan, the China Daily reported, without saying where it got the figures. If the government were to enforce its lending quota, about 600 billion yuan would be available for the remaining eight weeks of the year, the report said. Credit growth for the full year, however, is likely to total 8 trillion yuan, or 6.7% more than the government’s target, according to estimates compiled by Deputy Director of Renmin University’s School of Economics, Liu Yuanchun.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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