Finance news

Central banks in Japan and Australia injected $33 billion into their financial systems amid ongoing efforts to calm markets roiled by the demise of Lehman Brothers Holdings Inc. and crisis at American International Group Inc.
The Bank of Japan pumped 3 trillion yen ($29.3 billion) into the financial system today, for a total of […]

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Children’s Hospital and Regional Medical Center has changed its name to Seattle Children’s, hospital officials said Monday.
The change was to reinforce the fact that the hospital is located in Seattle and also is a major research facility, officials said, adding that signs will begin to be changed at the hospital on Tuesday.
The hospital also changed […]

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U.S. bond prices show Henry Paulson's “bazooka'' fired blanks when he took over beleaguered mortgage-finance companies Fannie Mae and Freddie Mac.
Instead of instilling confidence in the credit markets, the Treasury secretary's plan to place the government-sponsored enterprises in conservatorship on Sept. 7 only served to underscore weakness in the world's biggest economy and […]

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Lehman Brothers Holdings Inc., once the fourth-largest U.S. investment bank, will file for bankruptcy after potential buyers abandoned talks and the U.S. government declined to fund a takeover of the crippled firm.
Lehman, last year's biggest underwriter of mortgage-backed securities, plans to file a Chapter 11 petition in the U.S. Bankruptcy Court for the […]

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Finance ministers from the euro area pledged to pursue fiscal discipline even as their economy weakens, drawing a call from European Central Bank President Jean-Claude Trichet for them to deliver on their promise.
Policy makers meeting in Nice, France, said they will resist U.S.-style tax cuts and, unlike during the last slowdown, keep their […]

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Quintiles Transnational has plans to bulk up in Asia.
The Durham-based clinical research organization says it’s doubling the size of its Asia-Pacific regional headquarters in Singapore. The new space will be 80,000 square feet and able to accommodate as many as 400 workers, up from the roughly 225 the company has in the region now.
Expansion of […]

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The Edward and Lesley Phillips Family Foundation, a charitable organization started by the former president of Phillips Distilling Co., has pledged $1 million to the historic Apollo Theater in New York.
The gift will support activities surrounding the theater’s upcoming 75th anniversary season.
Eddie Phillips, former president of Minneapolis-based Phillips Distilling and an Apollo board member, made […]

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British natural gas producer BG Group PLC on Tuesday abandoned its hostile takeover bid for Origin Energy Ltd., Australia’s second-largest power retailer.
BG Group (BRGGY), Britain’s third-largest oil and gas company, conceded defeat after Origin (OGFGF) announced a coal seam liquefied natural gas joint venture with U.S. energy giant ConocoPhillips (COP, Fortune 500) valued at […]

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European Central Bank President Jean-Claude Trichet said the euro-region economy is likely to recover from the current slump toward the end of the year and that bringing down inflation remains the bank's primary focus.
“The current episode of weak growth should be followed by a gradual recovery,'' Trichet told lawmakers at the European Parliament […]

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Russia aims to extend its control over energy deliveries to the West and it is important that European countries push forward on efforts to diversify routes for oil and gas supplies, a senior U.S. official said on Monday.
As Vice President Dick Cheney visited Italy to seek support for Georgia after its brief war with […]

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