Dubai said two of its flagship firms planned to delay repayment on billions of dollars of debt as a first step toward restructuring Dubai World, the conglomerate that spearheaded its breakneck growth.
A top U.S. bank regulator said lawmakers need to be careful about moving forward with a proposal that could break up big banking institutions, while also voicing support for its objective.
Big banks are roaring back. At crisis' edge last year, they are repaying billions of dollars dumped into their vaults to rescue them. Dividend checks are accumulating at the Treasury. Taxpayers won't recoup the full sum of the government's unprecedented infusion to the financial sector, but the returns are ahead of schedule.