Hot finance topics

Bank of America, one of the top five banks in the Raleigh-Durham market, doesn’t have its man after all. Robert Kelly, the CEO at Bank of New York Mellon, has told his employees he intends to stay put. In a company-wide memo, Kelly told his staff that he was approached by another bank, but decided […]

Japanese Finance Minister Hirohisa Fujii said the government must cap bond sales at 44 trillion yen ($495 billion) next year, in contrast with Prime Minister Yukio Hatoyama, who indicated he is prepared to abandon the pledge.
“Such a figure doesn’t need to be seen as a big problem for the Cabinet,” Fujii said at […]

Central banks should not respond to wild swings in food and energy prices with monetary policy unless expectations of inflation become unhinged, a senior U.S. Federal Reserve official said on Thursday.
Large commodity price moves can have a detrimental impact on emerging economies, but it is “generally a mistake” to use monetary policy as a […]

Central banks will be net buyers of gold this year as they diversify away from the U.S. dollar, marking a reversal of a decades-old trend, global commodities investment fund BlackRock said on Monday in comments that helped drive bullion to fresh record highs.
Investment in gold by central banks has picked up recently, with India […]

Honda Motor Co. nearly tripled its annual profit forecasts and more upside may be ahead, with the company taking a conservative view on the yen and with the effect of easing government incentives unknown.
Honda (HMC), the world’s seventh-biggest car maker, has weathered the industry turmoil that drove two U.S. automakers to bankruptcy this year […]

Citigroup’s ongoing crusade to return to its former glory as a financial giant may have to wait just a bit longer.
On Thursday, the company reported a slim profit of just $101 million as credit problems, particularly within its consumer-related businesses, weighed down its third-quarter results.
But after taking into account the recent conversion of part […]

A member of the Cadbury family has described Kraft’s takeover bid for the British confectionery group as a “horror story.”
In comments to the Sunday Telegraph, Felicity Loudon, whose grandfather Egbert Cadbury was managing director of Cadbury Brothers, said she believed it was worth fighting to keep Cadbury out of the hands of North America’s […]

Three months after coming through a federally-financed bankruptcy, the new Chrysler Group still faces serious trouble with no quick solution in sight.
The carmaker may have been given a sleek and shiny new balance sheet, but the products on the showroom floor are the same stale cars and trucks from before and there’s not much […]

The Federal Reserve is willing to work with U.S. lawmakers on ways to release names of companies that borrow from the central bank after a time lag so the disclosures do not disrupt markets, a Fed official said.
Scott Alvarez, the Fed’s general counsel, told the House of Representatives Financial Services Committee on Friday that […]

A top executive for Chrysler Group, the carmaker that recently went through a government-sponsored bankruptcy, is having more than $1.4 milliion of his own financial headaches.
Jim Press, Chrysler’s deputy chief executive, has had a lien for $947,409 placed on his home by the Internal Revenue Service, according to records from Oakland County, Mich., […]