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GMAC appoints interim board of managers
WASHINGTON (MarketWatch) -- GMAC LLC said Wednesday it has put in place a seven-member interim Board of Managers, removing eight members of the old board and keeping three. The interim board will remain in place until May 22, or until a U.S. Treasury trust is established and appoints the two board members to which it is entitled - whichever comes first. The interim board has four new members, Cerberus Capital Management Founder and Chief Executive Stephen Feinberg; GMAC Chief Executive Alvaro G. de Molina; GMAC Chief Financial Officer Robert Hull; and GMAC Chief Risk Officer Samuel Ramsey.
Market Watch

Struggling airlines need to look beyond the horizon
Aviation industry is in crisis but China and other emerging economies will provide opportunities for the survivors.
Telegraph

Asian stocks gain as US data boost recovery hopes
Asian markets gained Thursday, building on this month's rally as better-than-forecast economic data in the U.S. buoyed hopes that government stimulus measures are starting to heal the global economy. Every major market across Asia advanced as investors took...
SF Gate

Australian Economy Shrinking At Pace Unseen Since 2001, Says Conference Board
Australia's Conference Board Leading Index fell for the fifth consecutive month in January, printing at -0.6%. The reading is intended to forecast how...
Daily FX

G20 must act on economy - Brown
UK Prime Minister Gordon Brown urges G20 leaders at next week's summit to take action to reform the world's banking system.
BBC

New Zealand Economy Will Contract 2% in 2009, Says IMF
In a report filed by the International Monetary Fund (IMF) the Washington-based body said that the New Zealand economy will contract by 2.0% this year....
Daily FX

Geithner asks for global action on economy
Broad, coordinated global action is what US Treasury Secretary Timothy Geithner wants to repair the damaged credit markets.
Big News Network

Hopeful signs, but economy still shaky
Glimmers of hope for the economy -- better home sales and higher demand for big-ticket goods, plus optimism from the White House and a nearly 20 percent rally in stocks -- have some people wondering if the worst is over.
The Salt Lake Tribune

Report envisions lingering unemployment
A new report from UCLA''s Anderson School of Business warns that the recession is likely to continue unless world trade can be revived along with national economies. In the latest Anderson Forecast, the nation''s Gross Domestic Product is projected to fall by 6.8 percent, 4.5 percent and 1.7...
NASDAQ

Administration seeks expanded oversight of financial system
Treasury Secretary Timothy Geithner plans to propose Thursday a sweeping expansion of federal authority over the financial system, breaking from an era in which the government stood back from financial markets and allowed participants to decide how much risk...
SF Gate

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Archived "business - risks economy" news stories.

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