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McClatchy chief resigns from controlling trusts
SAN FRANCISCO (MarketWatch) — Gary Pruitt, chairman and chief executive of The McClatchy Co. , has resigned from a group of trusts that controls much of the voting power in the company, the company announced, in what it described as an ...

Congressman confirms gov't intervention for mortgage firms
SAN FRANCISCO (MarketWatch) Rep. Barney Frank (D., Mass.) confirmed Saturday that Treasury Secretary Henry Paulson is planning government intervention to back troubled mortgage giants Fannie Mae and Freddie Mac. ...

Kelowna - Beware of Counterfeit US Currency
Police are advising the public and businesses to be on the lookout for counterfeit US currency that has been circulating in the area lately.

Boeing machinists to start strike at midnight: reports
SAN FRANCISCO (MarketWatch) — Boeing machinists will begin a strike at midnight after contract talks with a federal mediator failed, according to reports Friday. Boeing has been negotiating with the machinists union in a bid reach a ...

Greenberg faces $100 mln fine on civil-fraud case: report
SAN FRANCISCO (MarketWatch) — Maurice “Hank” Greenberg, former chief executive of American International Group faces a fine of at least $100 million as part of a settlement under negotiation with the New York Attorney General's office ...

Regulator tells Downey to raise more capital
SAN FRANCISCO (MarketWatch) — Downey Financial said late Friday that its main regulator, the Office of Thrift Supervision, has ordered the lender to raise more capital. Downey also said it's now deemed “adequately” capitalized, ...

Continental Airlines names Zane Rowe chief financial officer
SAN FRANCISCO (MarketWatch) — Continental Airlines has promoted Zane Rowe as executive vice president and chief financial officer as of Aug. 31, according to a disclosure submitted by the airline to the Securities and Exchange ...

GE gets SEC ‘Wells notice' over possible violations
SAN FRANCISCO (MarketWatch) — General Electric Co. said it may be facing a civil action from the Securities and Exchange Commission over how it accounted for derivatives in several of its segments, the company said in an SEC filing ...

Black & Decker names Stephen Reeves chief financial officer
SAN FRANCISCO (MarketWatch) — Black & Decker Corp. said late Friday it named Stephen Reeves as chief financial officer. Reeves will succeed Michael Mangan who was named senior vice president of the corporation and president of the ...

Treasury near finalizing Fannie, Freddie backstop: report
SAN FRANCISCO (MarketWatch) — The US Treasury is near finalizing a plan to backstop Fannie Mae and Freddie Mac and may make an announcement as soon as this weekend, The Wall Street Journal reported late Friday on its Web site. ...