WSJ: GE Capital, AIG Designated ‘Systemically Important’

The Wall Street Journal reported that members of the Financial Stability Oversight Council voted unanimously to designate GE Capital and AIG as “systemically important.”

WSJ: Hoover Brand Owner Wins Oreck Bankruptcy Auction

The WSJ reported that a Hoover brand owner was the highest bidder at the Oreck bankruptcy auction, squelching the Oreck family’s chance at buying back its namesake vacuum cleaner company.

WSJ: U.S. Suit Against S&P Tentatively Allowed to Proceed

The Wall Street Journal reported that U.S. District Judge David O. Carter said he would tentatively allow the Justice Department’s lawsuit against S&P to move forward.

WSJ: Business Feels Pinch of Swift Rate Rise

The Wall Street Journal reported that sharp increases in long-term interest rates, triggered by Fed statements last week, threaten sales of homes, cars and other big-ticket items that have helped drive the recovery.

WSJ: Banks Present Own Crisis Plan to Fed

The Wall Street Journal reported that several large banks submitted their own collective crisis plan to the Federal Reserve in an effort to preempt more stringent regulations.

WSJ: UK Prosecutors Likely to File LIBOR Charges

The Wall Street Journal reported that UK prosecutors are likely to file LIBOR manipulation charges against former UBS and Citigroup trader Tom Hayes for allegedly trying to manipulate benchmark interest rates.

Thain Talks About CIT in Interview with WSJ

In an interview with the Wall Street Journal, CIT Group chief executive officer John Thain talks about what attracted him to CIT and what it’s been like over the past three years to preside over a business he didn’t really know well.

WSJ: GE to Shrink Finance Arm

The Wall Street Journal reported that GE chief executive Jeff Immelt said at an industry conference in Florida that GE Capital will be reduced to less than half its pre-crisis size by the end of 2014.

WSJ: Vote to Split Dimon’s Roles Fails

The Wall Street Journal reported that shareholders at JPMorgan Chase rejected a proposal to split Jamie Dimon’s dual roles as chief executive and chairman.

WSJ: Bank Bailout Blues Stall UK Recovery

The Wall Street Journal said that five years after rescuing Royal Bank of Scotland, the British government still hasn’t figured out what to do with it.