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U.S. migrant money pools thrive in the recession

TEMPE, Ariz. (Reuters) - A year ago, waitress Erica Rendon was invited by a Mexican colleague at the steakhouse where she works to put $50 a week into a fund with nine co-workers.


Bank Simpanan Nasional profit on target

PETALING JAYA: National savings bank Bank Simpanan Nasional (BSN) is on target to achieve a net profit of RM188mil this year compared with RM168mil last year.


EON Cap plans RM1bil fund-raising exercise

KUALA LUMPUR: EON Capital Bhd has submitted an application to raise RM1bil in Tier 1 capital, barely a week after Bank Negara rejected the group's plan to sell new warrants to shareholder Primus Pacific Partners LLC for RM29.5mil.


US stocks up, led by homebuilders, retailers

NEW YORK: Investors rushed back into stocks as profits at a handful of companies indicated the economy might be gaining noshade size=-1 width=50%>


Debtor’s family feels the heat

A money-lending company in Seberang Jaya has allegedly disconnected electricity supply to a family's home in Lunas, Kedah, because they could not settle their loan on time.


Oil prices drop with supplies surging

NEW YORK: Energy prices fell Wednesday after the U.S. government reported that gasoline in storage grew for the third-straight week, another signal that consumer demand for energy is waning.


US Fed holds key lending rate at record low, says recession easing

WASHINGTON: The Federal Reserve signaled Wednesday that the weak economy likely will keep prices in check despite growing concerns that the trillions it's pumping into the financial system will ignite inflation.


US stocks end mostly higher after Fed assessment

NEW YORK: The Federal Reserve didn't surprise investors but still left them noshade size=-1 width=50%>


Malaysian capital market seeing some signs of life

PETALING JAYA: The capital market is seeing some signs of life although new money is yet to enter in a big way. 'Corporates are coming back to the bond market more for refinancing and not so much for new financing,' said Lee Kok Kwan, deputy CEO and group treasurer of CIMB group.


Japan Airlines likely to get government loan

TOKYO: The Japanese government is preparing a loan to loss-making Japan Airlines Corp, caught by severe airline turbulence in the global economic crisis.