Fed chief Bernanke sees economic rebound on tap

Date: Tue, 05 May 2009 12:01:33 -0400

Fed chief Bernanke sees economic rebound on tap

The U.S. economy is bottoming out and is likely to turn upward later
this year, Federal Reserve Board Chairman Ben Bernanke says.

WHITE HOUSE WON'T SEEK MORE FUNDS FOR BANKS

The Obama administration doesn't need to ask lawmakers on Capitol Hill
for more funds to bailout troubled financial institutions, says White
House spokesman Robert Gibbs.

ADIDAS PROFIT DROPS 97%; BREAK-EVEN HALF SEEN

Adidas' first-quarter profit nearly evaporates and the firm says the
second. quarter is looking equally as bleak as the sneaker maker
struggles to rein in costs.

NANO RESPONSE RAISES CONCERN FOR TATA MOTORS

India's Tata Motors has received twice as many orders for the Nano
mini-car as it will be able deliver, but the consumer response is
still weaker than analysts had expected, raising short-term funding
concerns.

BANKS MAY NEED MORE CAPITAL BUT AIG WON'T: REPORTS

Reports say the U.S. government may order an estimated 10 banks to
boost their capital levels, but beleaguered insurer AIG won't need
further help from Washington.