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2011/03/19

Business News for Saturday March 19, 2011

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Business News
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Brazil: no press conference for Obama

BRASILIA, Brazil (UPI) -- A Brazilian spokesman said there would be no joint press conference Saturday after President Dilma Rousseff met with President Barack Obama.

The spokesman said, "That decision to not take questions was not made today or yesterday and has nothing to do with the situation at the United Nations," referring to Brazil's bid to be assigned a permanent seat on the U.N. Security Council, The New York Times reported.

Instead of a press conference with the ...

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Fed relaxes restrictions on bank dividends

WASHINGTON (UPI) -- U.S. banks JPMorgan Chase and Wells Fargo announced dividend plans after regulators eased back on restrictions imposed during the financial crisis.

JPMorgan Chase said it would increase dividends 25 cents per share and Wells Fargo said it would pay 7 cents per share in a special payout, The New York Times reported Friday.

The U.S. Federal Reserve had imposed restrictions on dividends in 2008 to allow banks to increase their capital cushions against an ...

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White House concurs with bipartisan letter

WASHINGTON (UPI) -- The White House said Friday it agreed with the goals spelled out in a letter from 64 U.S. senators concerning deficit reductions.

"The president agrees that any serious discussion of how to tackle our long-term fiscal situation needs to include entitlements and tax reform, which is why he committed to take on both in his State of the Union Address," said White House spokeswoman Amy Brundage, The Washington Post reported Friday.

The letter, which ...

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Seven EU countries call for economic plan

BRUSSELS (UPI) -- Seven European Union countries said the EU needs an economic strategy that promotes innovation, opens trade markets and cuts regulatory costs.

Leaders of Denmark, Estonia, Latvia, Lithuania, Finland, Poland, the Netherlands, Sweden and Britain, outlined their four-point strategy in a letter to EU Council President Jose Manuel Barroso, the EUobserver reported Friday.

The four points included reducing international restrictions on services, promoting global...

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