Obama pushes financial overhaul with new powers and regulator shifts
The administration's proposal would expand the Fed’s powers while transferring some banking authority. It highlights two political flash points as bankers resist a new consumer protection regulator and lawmakers fear an overly independent Fed.
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Fed
Obama
Congress
GM sells Saab stake to Koenigsegg consortium in Sweden
GM agrees to divest Saab to Koenigsegg Automotive AB and partners for an estimated 150 million dollars plus asset value if profits arise. Koenigsegg, led by Christian von Koenigsegg, builds luxury sports cars in Angelholm Sweden and plans to complete the sale by Q3 subject to approvals.
MENTIONED IN THIS ARTICLE
Koenigsegg Group AB
Saab
Fritz Henderson
Henderson
Koenigsegg Automotive
Christian von Koenigsegg
Angelholm
Sweden
Koenigsegg
FDA urges removal of Zicam sprays over smell loss risk
Federal regulators warn Zicam Cold Remedy nasal gel and related products may permanently damage the sense of smell. About 130 reports since 1999 prompted the FDA to action, as Matrixx Initiatives faces stock decline and possible market withdrawal while FDA notes lack of formal FDA approval for the spray group.
MENTIONED IN THIS ARTICLE
Washington
Food and Drug Administration
FDA
Matrixx
Charles Lee
MySpace to cut nearly a third of its workforce
MySpace will reduce about 420 jobs, cutting its U S staff to roughly 1,000 as it tries to align with Facebook. The move follows new chief executive Owen Van Natta and comScore data showing Facebook catching MySpace in U S visitors.
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Los Angeles
MySpace
Facebook
Rupert Murdoch
News Corp
Owen van Natta
Data
comScore
U.S
van Natta
United States
eMarketer
TV transition snares viewers in analog shutdown
As U S analog service ends, many viewers report signal trouble and loss of stations after some broadcasters switch digital signals from UHF to VHF. Some antennas designed for UHF fail to receive VHF while a few dual band antennas exist. FCC is reviewing reports of losses in Chicago Philadelphia and New York.
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New York
U.S
Wally Grotophorst
Hamilton
ABC
CBS
Brett Whitten
Philadelphia
FCC
Chicago
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