News Highlights: Top Economic Stories Of The DayLast update: 1/21/2010 8:34:59 AM
OBAMA TO PROPOSE NEW LIMITS ON BANKS President Barack Obama is expected to propose new limits on the size and risk taken by the biggest U.S. banks, officials and congressional sources tell The Wall Street Journal.
GREECE WEIGHS ON EURO-ZONE MARKETS, PLANS BOND Renewed worries over Greece's fiscal problems weigh on the country's financial markets even as the government reaffirmed that it isn't seeking outside support to meet its borrowing needs.
UK PUBLIC-SECTOR BORROWING LESS THAN EXPECTED U.K. public sector net borrowing is smaller than expected in December, with central government revenues experiencing their smallest decline since September 2008 in a sign the public finances are steadying.
ECB WARNS RECOVERY TO BE MODERATE, UNEVEN The euro zone's economic recovery is likely to be moderate and uneven, meaning the ECB will only gradually phase out the extraordinary liquidity measures put in place to support the economy and the banking system.
US STOCK FUTURES EDGE HIGHER U.S. stock market future edge higher in the wake of a slew of better-than-expected earnings reports from Xerox and others as the market also looks ahead to economic reports to come, as well as strong growth data out of China.
COMERICA SWINGS TO LOSS BUT CREDIT PICTURE IMPROVES Big regional bank posts 4Q loss of $29 million, or 41c a share, but the loss is smaller than expected and its credit-loss provision and loan charge-offs both improve from the prior quarter.
CITI OFFERS TO BUY BACK UP TO $7.32B OF DEBT Citigroup is offering to repurchase $7.32 billion of notes as part of the banking giant's strategy of using excess cash to retire older-vintage debt nearing maturity.
LEGG MASON SWINGS TO PROFIT AMID PRIOR-YEAR CHARGE Company posts 3Q profit of $44.9 million, or 28c a share, below analysts' expectations of 31c, as revenue rises 5% to $690 million. Shares slide 7% early.
PNC SWINGS TO PROFIT, GETS BIG GAIN ON ACQUISITION Bank swings to 4Q profit of $1.11 billion, or $2.17 a share as revenue more than triples to $5.08 billion, in part on the acquisition of National City. Shares edge higher early.
FED PUSHES BACK AGAINST LAWMAKERS The Federal Reserve is ratcheting up its response to congressional criticism in an effort to protect its regulatory authority and autonomy -- a move that is softening some attacks but doesn't appear to be enough to win over hostile lawmakers.
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Mark to Market SPENDING RESTRAINT DOESN'T MEAN SPENDING CUTS Jim Murphy says that as several large states teeter on the edge of what would be called bankruptcy, it is instructive to delve a bit more deeply into the claims of their governors that - in view of austere economic conditions - state spending is being cut.
Video GREEK WOES SPREAD TO PORTUGAL Portugal becomes the latest country to get an official warning from the IMF, and with other fiscally challenged euro-zone countries waiting in the wings, Nick Andrews asks how will the euro zone deal with this growing uncertainty? --Watch video
Money Talks CORRELATIONS START TO UNTANGLE Could it be that investors are having to learn how to discriminate between assets again? Either the investment environment is starting to normalize, or we're at the first stages of a shift from risk on to risk off, writes Alen Mattich.
Money Talks EDGING TOWARDS THE EXIT IN CHINA China may have met its economic goals for 2009, but the pickup in activity and price pressures in the last quarter of the year will still have Beijing moving only gradually towards the exit, Rosalind Mathieson writes.
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TREASURYS LOWER BEFORE DATA; SUPPLY ANNOUNCEMENT Treasurys move higher ahead of U.S. data.
US STOCK FUTURES EDGE HIGHER AS EARNINGS ROLL IN Futures edge higher as earnings roll in.
DOLLAR RALLIES AMID WORRIES ABOUT GLOBAL ECONOMY Dollar rallies amid worries over global economy.
GOLD EXTENDS LOSSES AS EURO WEAKENS Gold extends losses as the euro weakens amid worries about Greek debt. (END) Dow Jones NewswiresJanuary 21, 2010 08:34 ET (13:34 GMT)