Business News for Friday October 1, 2010

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Fed bank bailout program ends Sunday WASHINGTON (UPI) -- The $700 billion U.S. bank bailout program, approved during the financial crisis, is set to expire as officials begin a post-mortem appraisal, observers said. Treasury Secretary Timothy Geithner said he understood as well as anyone the paradox that the Troubled Assets Relief Program has come to represent. Economists largely agree the massive federal bailouts beginning in 2008 saved the country from a financial abyss, but rarely has a government program ... Continue Reading... Post a Comment | Share | Print Governors push for 60 mpg standard NEW YORK (UPI) -- New York Gov. David Patterson has asked the Obama administration to push fuel efficiency standards to better than 60 mpg by 2025. Current federal standards push U.S. automakers to hit a standard 34.1 mpg by 2016. Patterson is urging the government to push that standard about 6 percent a year for the next nine years, The Detroit News reported Friday. In a letter to President Obama, Patterson said, "We urge you to set ambitious new standards for passenger ... Continue Reading... Post a Comment | Share | Print Hertz parks pursuit of Dollar Thrifty TULSA, Okla. (UPI) -- Hertz Global Holdings Inc. said it would respect a shareholder vote and cease its pursuit of acquiring the fourth-largest U.S. car rental company. Dollar Thrifty shareholders turned down Hertz's $1.46 billion bid for the company with an 11,811,154 to 13,830,126 vote. Hertz Chairman and Chief Executive Officer Mark Frissora said in response, "we will focus on implementing our strategy to rapidly accelerate the expansion of Advantage Rent-a-Car and the U.S. off-... Continue Reading... Post a Comment | Share | Print Advertisement "Your Belly or Your Life!" said Doc. See How I Lose It (Vid) Free Tee Shirts, Wristbands, and More! Markets climb Friday NEW YORK (UPI) -- U.S. markets opened the fourth quarter with gains Friday morning after the Bureau of Economic Analysis reported consumer spending in August beat expectations. Personal spending rose 0.4 percent compared with July, beating a consensus forecast of 0.3 percent. Personal incomes rose 0.5 percent, the bureau said, gaining faster than the 0.2 percent prediction. In early afternoon trading, the Dow Jones industrial average added 47.23 points, 0.44 percent, to 10... Continue Reading... Post a Comment | Share | Print     More Headlines • Manufacturing growth slowed in September • Crude oil prices climb Friday • Consumer spending rose in August • BMW recalls 350,000 vehicles • Markets climb early Friday     More News From ArcaMax Current News Entertainment News Business News Sports Political News Weird News Religious News Lifestyles

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