B. of A., Citi seek to raise $10 billion: report

Date: Mon, 04 May 2009 12:01:11 -0400

B. of A., Citi seek to raise $10 billion: report

Bank of America and Citigroup are reportedly working on plans to raise
more. than $10 billion each in capital following preliminary findings
of the U.S. stress tests on banks.

GM MOVES AHEAD WITH EFFORT TO SHED SATURN

General Motors is proceeding with efforts to sell its Saturn brand and
retailer network, working against a timetable in which it would secure
an agreement with a specific buyer later this year.

FIAT REPORTEDLY CONFIRMS INTEREST IN GM'S OPEL

Fiat SpA reportedly confirms interest in General Motors Corp.'s Opel
division in a move that would further extend the Italian automaker's
global reach.

ASIAN NATIONS FORM $120 BILLION 'LIQUIDITY POOL'

Asian nations plan to create a $120 billion liquidity pool by the end
of the year that can be drawn upon to defend currencies and otherwise
guard against financial ills arising from the economic crisis.

FILENE'S BASEMENT FILES FOR BANKRUPTCY PROTECTION

Off-price retailer Filene's Basement joins the growing roster of
retailers in bankruptcy, filing for Chapter 11 protection from
creditors as it agrees to sell 17 of its 25 stores to real estate and
asset management firm Crown Acquisitions.