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U.S. companies celebrating holiday on the cheap

Reuters - 27 minutes ago

The United States may be emerging from recession but some firms are canceling holiday parties for a second year in a row and others are bragging about having fun on the cheap.

News Stories

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World markets buoyed by Bank of America move
AP via Yahoo! News - Thu Dec 3, 8:27 am ET
World stock markets rose Thursday, with Japan's Nikkei up around 4 percent, after Bank of America Corp. said it will repay $45 billion of government bailout money and as investors prepared for a crucial policy statement from the European Central Bank.
‘Squawk Box’ Figures Get Prison Terms, Home Detention (Update1)
Bloomberg - Thu Dec 3, 7:24 pm ET
Dec. 3 (Bloomberg) -- An ex-broker and a former day trader were sentenced to prison, and another former broker to home detention, for their parts in a scheme in which traders had access to brokerages’ internal “squawk boxes.”
Providers Release Flood Of New ETFs
Investor's Business Daily via Yahoo! Finance - Thu Dec 3, 7:07 pm ET
Since the beginning of November, ETF providers have put out a flurry of new ETFs. Some are novel. But most are copycats, though they charge lower...
Japan’s Bonds May Fall a 3rd Day on Concern Debt Sales to Rise
Bloomberg - Thu Dec 3, 7:06 pm ET
Dec. 4 (Bloomberg) -- Japanese government bonds may fall for a third day, heading for the first weekly drop in a month, on concern debt sales will increase next year.
BofA's TARP repayment puts pressure on Citi, Wells
AP via Yahoo! Finance - Thu Dec 3, 6:55 pm ET
Bank of America's surprise move to pay back $45 billion in federal bailout money ratchets up pressure on rivals Wells Fargo and Citigroup to get out from under the government's thumb.
The NBC Universal Sale, by the Numbers
New York Times - Thu Dec 3, 7:26 am ET
It is the largest media deal to come down the pike in some time, and it’s complicated. Thursday’s announcement of the NBC Universal sale, as expected, describes a complex transfer of control from General Electric to Comcast , with the two giants holding pieces of a new joint venture that combines the Peacock Network, Universal Studios and Comcast’s own stable of cable channels.
Dubai’s ‘Sovereign Halo’ Vanishes as Mushrooming Debt Comes Due
Bloomberg - Thu Dec 3, 6:24 pm ET
Dec. 3 (Bloomberg) -- Sheikh Mohammed bin Rashid Al Maktoum wanted to turn Dubai into the next London or Hong Kong, a global hub for finance and tourism.
Chinese Companies Book Losses on Derivatives, Study Times Says
Bloomberg - Thu Dec 3, 6:11 pm ET
Dec. 4 (Bloomberg) -- Sixty-eight Chinese companies booked losses of more than 11.4 billion yuan ($1.67 billion) on derivatives sold by U.S. investment banks, China’s State-Owned Assets Supervision and Administration Commission wrote in an article in the Study Times.
BofA TARP payback puts heat on Wells, Citi
MSNBC - Thu Dec 3, 6:01 pm ET
Bank of America's surprise move to pay back $45 billion in federal bailout money ratchets up pressure on rivals Wells Fargo and Citigroup.
Bank Of America To Repay Bailout Funds
NPR - Thu Dec 3, 6:37 am ET
Bank of America says it plans to repay the government bailout funds it received during the credit crisis and after it purchased Merrill Lynch & Co. The move would allow Bank of America, which is trying to recruit a new CEO, to free itself from government restrictions on executive pay that come along with bailout funds.
Bank of America TARP Payment May Aid Shares, Search (Update1)
Bloomberg - Thu Dec 3, 5:10 pm ET
Dec. 3 (Bloomberg) -- Bank of America Corp. ’s plan to repay $45 billion of government bailout funds may boost investor confidence in the lender’s health and its chances of finding a new chief executive officer.
Bank of America CEO Search Still Lingers
TheStreet.com - Thu Dec 3, 3:25 pm ET
Bank of America is on the fast track to repaying TARP funds, but the news has yet to yield much clarity about who may be the company's next CEO.
BofA bailout repayment puts pressure on Citi, Wells Fargo
Richmond Times-Dispatch - Fri Dec 4, 12:05 am ET
Bank of America’s surprise move to pay back $45 billion in federal bailout money ratchets up pressure on rivals Wells Fargo and Citigroup to get out from under the government’s thumb. But don’t expect it to happen anytime soon. That’s because many banks, including Citi and Wells Fargo, still face big losses on loans as people fall behind on bills—losses that could further erode their capital and ...
Move to Repay Aid Helps Bank of America Shed Stigma
New York Times - Thu Dec 3, 3:41 am ET
Less than a year after grasping two multibillion-dollar bailouts from Washington, a resurgent Bank of America announced on Wednesday that it would repay all of its federal aid, underscoring the banking industry’s swift recovery from the gravest financial crisis since the Depression.
Lifting of pay restraints to ease BofA CEO search
The Arizona Republic - Thu Dec 3, 6:53 pm ET
NEW YORK - Bank of America Corp. has been having a tough time finding a new CEO willing to accept the restrictions that came as a condition of bailout funds. But recruitment is sure to be easier now that the bank plans to pay back its $45 billion in aid in just a few days to free itself from government oversight and pay restraints.