- The U.S. Treasury Department and Citigroup Inc. have begun discussing how to sell the 34 percent stake that the government acquired in the rescue of the bank, people familiar with the matter said.
- President Barack Obama said job losses are “bottoming out” and the U.S. economy looks to be growing again even as he warned against cutting off government aid “so soon that the recovery doesn’t take flight.”
Obama, speaking to Bloomberg News one year after the bankruptcy of Lehman Brothers Holdings Inc. crippled the economy, voiced confidence that his plan to overhaul regulation to forestall another crisis would pass Congress this year. - European stock-index futures rose, indicating the Dow Jones Stoxx 600 Index may resume its six- month rally, before a report that might show German investor confidence increased to the highest level in three years. Asian shares fluctuated and U.S. futures were little changed a year after the collapse of Lehman Brothers Holdings Inc.
- Europe’s economies are rebounding at different speeds, complicating the European Central Bank’s efforts to put the region back on a more stable footing.
Even as the global economy recovers and Germany and France return to growth, the European Commission yesterday cut its forecasts for Spain and Italy. Deutsche Bank AG says some of the economies that were once motors of growth and job creation across the 16-nation bloc may stay mired in recession next year.
15 September 2009 www.Bloomberg.com
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