BusinessReuters - Royal Bank of Scotland's Chairman Philip Hampton will not pick up a 1.4 million pound ($2.2 million) stock bonus, the bailed-out bank said, following public anger and political squabbling over a 1 million pound bonus for its chief executive.
Business
Bankers resist regulatory restraint on bonuses (Reuters)
Reuters - Budding bankers expecting the bumper bonuses of years gone by will have to think again, with only the top performers likely to be paid top dollar.
Sudan says to release ships seized from South Sudan (Reuters)
Reuters - Sudan said on Saturday it would free tankers carrying cargoes of South Sudanese crude it had seized earlier this month, in a push to defuse a row over transit fees between former civil war foes that both depend on oil for almost all their income.
EU rejects call for control over Greek budget (AP)
AP - The European Union's executive body is rejecting calls from Germany to establish a eurozone budget commissioner who would directly control tax and spending decisions in debt-ridden Greece.
Swiss urge U.S. tax deal to shield other banks (Reuters)
Reuters - The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday.
Cyprus FinMin says banks won't need gov't help (AP)
AP - Cyprus' banks will be able to recapitalize on their own and won't need state support thanks to fiscal measures buttressing the island's financial system, the government said on Saturday.
Greece, creditors laboriously piece together debt deal (Reuters)
Reuters - Greece and its private creditors head back to the negotiating table on Saturday to put together the final pieces of a long-awaited debt swap agreement needed to avert an unruly default.
IMF chief presses for more cash to fight crisis (AP)
AP - The head of the International Monetary Fund appeared to be making headway Saturday in her drive to boost the institution's financial firepower so that it can help Europe prevent its crippling debt crisis from further damaging the global economy.
The Oil Off Cuba: Washington and Havana Dance at Arms Length Over Spill Prevention (Time.com)
Time.com - Despite the embargo and their cold war, the two countries appear to be in some synch over fear of potential drilling catastrophes
Germany wants Greece to give up budget control (Reuters)
Reuters - Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday.
IMF leads global push for euro zone to boost firewall (Reuters)
Reuters - International Monetary Fund chief Christine Lagarde led a global push on Saturday for the euro zone to boost its financial firewall, saying "if it is big enough it will not get used."
Quest for the golden cross (Reuters)
Reuters - January has turned out strong for equities with just two trading days to go. If you're afraid to miss the ride, there's still time to jump in. You just might want to wear a neck brace.
Exxon to sell part of Tonen stake for about $3.9 billion:sources (Reuters)
Reuters - Exxon Mobil plans to sell a large part of its 50 percent stake in TonenGeneral Sekiyu KK (5012.T) back to its Japanese refining partner in a deal that could be worth about 300 billion yen ($3.9 billion), and will make an announcement as early as Monday, four sources with direct knowledge of the matter said.
Obama administration bolsters homeowner lifeline (Reuters)
Reuters - The Obama administration, in an election-year bid to help distressed homeowners, on Friday expanded its main foreclosure prevention program, and pushed for Fannie Mae and Freddie Mac to forgive mortgage debt.
How Fastenal Is Vending a Success Story (The Motley Fool)
The Motley Fool - Industrial and construction materials supplier Fastenal (Nasdaq: FAST - News) has significantly upped its market presence lately with the expansion of its industrial vending machines -- dubbed a "one-stop shop" to replenish supplies.
Tired and trailing, Santorum goes home to do taxes (AP)
AP - Rick Santorum is tired, trailing — and going home.
Flint, Mich., One of Nine Cities Devastated by Recession (ContributorNetwork)
ContributorNetwork - 24/7 Wall St. analyzed a report commissioned by the United States Conference of Mayors that looked at how cities are faring economically and getting unemployed residents back to work. The news isn't good for Flint, Mich. The former auto industry stronghold is in the top five of metropolitan cities ruined or nearly destroyed by the recession. Here are details from that report created by IHS Global Insight.
North America boosts Ford in 4Q (AP)
AP - Ford has shown it can make money even with U.S. car sales at depressed levels. Now it needs to show it can manage a myriad of challenges outside its home region.
Growth quickens, but speed bumps ahead (Reuters)
Reuters - The economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a rebuilding of stocks by businesses and slower business spending warned of weaker growth in early 2012.
Wal-Mart puts U.S. marketing under merchandising (Reuters)
Reuters - Wal-Mart Stores Inc said on Friday that its U.S. marketing team would now work under the leadership of its chief merchandising officer rather than as a separate group as the world's largest retailer works on improving its communication with shoppers.
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