http://businessnewsweblog.com Economic and Business Mon, 06 Oct 2008 18:13:05 +0000 http://backend.userland.com/rss092 en Last Sunday, I reviewed the major credit cards that give you cash rebates once a year, linked to your spending.Readers were quick to suggest some great deals I missed.The no-fee Citi Enrich MasterCard provides 1 per cent cash back on all your spending. The maximum rebate is $250 a ... http://businessnewsweblog.com/some-credit-cards-help-pay-for-lifes-essentials/ If you want to see how America's credit crisis is hitting the streets of your hometown, go to your local car dealer. Auto dealers depend on credit. They need it to run their stores and their customers need it to buy their products. From every angle, credit trouble ... http://businessnewsweblog.com/car-dealers-face-the-grim-reaper/ The United States needs to act urgently to shield its economy from an escalating credit crisis and Europe must ready plans in case its problems worsen, the head of the International Monetary Fund said on Tuesday. "We're right at the moment where action is needed," IMF Managing Director ... http://businessnewsweblog.com/us-must-act-europe-stand-ready-imf-chief/ Oil prices tumbled more than $6 a barrel Monday, briefly slipping below the $100 level as traders bet that global demand for petroleum products will keep falling despite a planned $700 billion U.S. financial bailout.A stronger dollar also weighed on crude prices as investors who bought oil and ... http://businessnewsweblog.com/despite-bailout-oil-dips-below-100/ How much is good advice worth? At least one St. Louis company paid a director more than $1 million, most of it in stock that has since declined in value. Other directors collected hundreds of thousands by serving on multiple boards. For fiscal 2007, David M. Meyer, ... http://businessnewsweblog.com/director-pay-adds-up/ HONG KONG — Nomura Holdings Inc., Japan's largest brokerage, said Monday that it has agreed to buy the Asian operations of bankrupt U.S. investment bank Lehman Brothers Holdings Inc. The deal includes Lehman's businesses in Japan and Australia. Nomura called the deal "a once-in-a-generation opportunity" for the ... http://businessnewsweblog.com/nomura-buys-lehmans-asian-units-for-225-million/ Group of Seven nations welcomed the $700 billion U.S. markets bailout plan on Monday and said they were prepared to step up international cooperation to protect the world's financial and banking system. But a day after Treasury Secretary Henry Paulson said he was "aggressively" encouraging other countries to ... http://businessnewsweblog.com/g7-nations-pledge-action-to-ensure-stability/ The Bush administration widened the scope of its $700 billion plan to avert a financial meltdown by including assets other than mortgage-related securities. The U.S. Treasury submitted revised guidance to Congress on its plan late yesterday as lawmakers and lobbyists push their own ideas. The department also ... http://businessnewsweblog.com/us-treasury-widens-scope-of-bad-debt-plan-beyond-home-loans/ Bankers and economists reacted with caution Friday to the broad outline of a government plan to take on troubled loans and other "bad" assets from banks in an attempt to unclog the nation's financial system. With most of the details yet to be worked out, bankers and others ... http://businessnewsweblog.com/local-bankers-say-paulson-had-to-act-on-bad-assets/ Premier Dalton McGuinty is shuffling his cabinet this afternoon to underscore the importance of attracting business and new investment to battered Ontario, which has shorn more than 200,000 manufacturing and forestry jobs in the past few years.Sandra Pupatello moves from economic development to a new international trade and investment ... http://businessnewsweblog.com/mcguinty-shuffles-cabinet/