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Friday, September 10, 2010


Deutsche Bank considers an $11.4B stock offering, sources say
Germany's biggest bank, Deutsche Bank, has started discussing with securities firms about a stock offering worth as much as $11.4 billion, sources said. The bank would use the money to exercise an option to increase its ownership of Deutsche Postbank and to comply with proposed capital rules from the Basel Committee on Banking Supervision, the sources said. Bloomberg (10 Sep.)

Goolsbee will chair Obama's Council of Economic Advisers:
Austan Goolsbee, a former University of Chicago economics professor who specializes in tax policy, will be named chairman of the Council of Economic Advisers, White House officials said. Goolsbee and U.S. President Barack Obama have known each other since 2004, when they taught at the university. The appointment doesn't require Senate approval because Goolsbee already serves on the council. Los Angeles Times (10 Sep.)

*a few different takes

Trade and jobless data indicate the U.S. recovery is still happening
The U.S. trade deficit dropped significantly in July, and first-time claims for unemployment benefits decreased last week by considerably more than experts had forecast. While the recovery is painfully slow, the chance of another downturn is fading, economists said. Reuters (09 Sep.)

Data show U.S. health care costs will first rise, then decline
It will take at least five years for U.S. health care reform to start bringing down medical costs, according to government estimates. The law's consumer-friendly provisions will push up spending between this year and 2014, then limit increases from 2015 to 2019, the Centers for Medicare & Medicaid Services said. (09 Sep.)

U.S. Treasury receives $16 billion from TARP investments
A report from the U.S. Treasury Department shows that the government has received about $16 billion in interest and dividend from investments made in financial institutions through the Troubled Asset Relief Program. Government data show that $666 million in payments, about half coming from banks involved in the capital-purchase program, have been made since the last report in August. Bloomberg (09 Sep.)

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