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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jun 25, 2009
Page
12
Citi Group plans higher base salaries for many staff as it reshapes compensation to comply with bonus caps under government oversight. The changes, potentially up to 50 percent for some traders and managers, shift pay mix while not increasing overall pay.
House Financial Services chairman Barney Frank rejects fears the agency would become overbearing. He says no overregulation pattern exists in the consumer area and backs Obama’s push to overhaul financial regulation. Democrats back the agency while Republicans warn it adds power to the Fed and could slow reform.
U.S. factories posted a May surge in orders for computers to aircraft, and a gauge of business investment jumped, suggesting the recession could be near a bottom. New home sales fell, leaving the economy seen as no longer in free fall but not yet ready for a sustained recovery. Investors awaited Fed rate decisions.
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