LyrArc Article Gist
Apple's plans to have its own Apple Maps on the iPhone for Fall 2012, replacing Google Maps.

LyrArc Article Gist
Sheila Bair, chairwoman of the the FDIC, says the banking industry is showing "continuing signs of improvement, and the process of repairing bank balance sheets is well along, but not yet complete." The bank failures are easing and the FDIC insurance fund which had a negative balance of $7.4 billion at the end of 2010, now has a negative balance of $1 billion. It should turn positive by July 2011 when Bair's five year term ends.

LyrArc Article Gist
Russia's central bank revises the initial figure of $500 million for rescue of Trust Bank to $2 billion, and an additional six year loan of about $550 million to go to an "investor" bank to take control of Trust Bank. State controlled VTB Bank will receive $2 billion and Gazprombank $1.4 billion in government help, according to Mr. Siluanov, Russia's Finance Minister. So far the Russian government has approved $20 billion for rescue in the banking system. Foreign currency reserves have declined by $16 billion to $398.9 billion, according to figures released by the central bank on Dec. 26, 2014. The Russian government plans to use the foreign currency holdings of Rosneft, Gazprom and other large state controlled exporting companies in 2015 to support the ruble. Mr. Siluanov says the government will need to look at its budget again to reduce spending, including military spending. His predecessor Alexei Kudrin called for reducing military spending to ensure stable finances long before this crisis....

LyrArc Article Gist
The impact on earnings of the failure to respond quickly to the data breach.

LyrArc Article Gist
Asset reports of Fed governors and candidates for Fed chairman show Ben Bernanke and Daniel Tarullo at the low end of $1-$3 million, Stein, Duke and Yellen at $5-$12 million in the middle, and at the high end are Summers $8-$31 million, and Powell between $17-$40 million.

LyrArc Article Gist
There were 500 resumes for a $13 an hour position as administrative assistant at a truck driver training school. The school at trucking company C.R. England, is in Burns Harbor, Indiana. Stacey Ross the head of recruiting found 300 applications in her email box, there was astack of resumes from the fax machine. A total of 500 people had applied for the job posted on Careerbuilder.com. Ms Block who had been unemployed for four months and was aformer accounts receivables manager at a company in Portage, Indiana, gets the job after filling out the application on the company website. The company tries to hire fair to middling talent and train them from within.

LyrArc Article Gist
Anil Kumar, was adirector of Mckinsey & Company. He is alleged to have past insider information on AMD and other clients to Galleon founder Rajaratnam. He had investments with Galleon funds. He was closely connected to Mr Gupta, a former managing director of McKinsey who heads the executive board of the Indian School of Business in Hyderabad, and which was founded with the collaboration of Wharton and the Kellogg School of Management. It has a number of Indian executives on its board. He is agraduate of the Indian Institute of Technology in Mumbai and of Wharton. He joined McKinsey in 1986 and relocated to India in 1993 to build the Indian practice of McKinsey. He launched the McKinsey Knowledge Centre in Gurgaon, New Delhi, as a knowledge outsourcing centre, that supports Mckinsey consultants. Because of the close secrets confided to McKinsey, Richard Cavanaugh, a McKinsey partner says client confidential information leaking is the most mortal sin a person could commit.

LyrArc Article Gist
The FDIC had $19 billion in its fund that insures consumer's deposits at the end of 2008. A bill in Congress by Christopher Dodd, the Senate Banking Committee chairman, gives the FDIC access to $500 billion till the end of 2010 if the Fed, the President and Treasury secretary support that, and $100 billion without that approval. The FDIC proposed raising the fees banks pay into the deposit insurance fund to buildup the fund, that has been depleted by bank bailouts like the one at IndyMac which cost $10 billion. But banks protested because it comes at a time when bank's are already in a bad condition. Under a 1991 law the FDIC can borrow from the Treasury amaximum of $30 billion. The access to $500 billion is meant to let the FDIC act as another source of funds to address systemic risks that arise in the future, in addition to the $700 billion already approved by Congress for that purpose. In an interview Sheila Bair, head of the FDIC, said that a change in the law would "ease the mechanics of how seamlessly we can access our lines of" funding. I'm the kind of person who likes to be prepared for all contingencies."...

LyrArc Article Gist
The splits and the factions in the Social Democrats in Germany. Differences over welfare and employment reforms. Steinmeier was Schroeder's chief of staff He will now run against Merkel in new elections.