Business briefs

Actualizado
  • 23/09/2009 02:00
Creado
  • 23/09/2009 02:00
WASHINGTON.Congress is expected to reject President Barack Obama's proposed mandate that banks offer customers "plain vanilla" financial...

WASHINGTON.Congress is expected to reject President Barack Obama's proposed mandate that banks offer customers "plain vanilla" financial products, such as a 30-year fixed mortgage. The defeat would be a victory for the industry, which contends that such a proposal would give the government an unprecedented role in the marketplace

BRUSSELS.Britain's direct contribution to the European Union fell by more than 2.71 billion pounds over 2008 compared to the previous year, according to the bloc's latest financial report issued on Tuesday. London directly pumped 6.92 billion pounds into the 27-nation EU, down from 9.76 billion pounds for 2007 owing to a sharp decline in the value of sterling against the euro.

HONG KONG. Aruban Prime Minister Nelson Oduber expects to be able to agree soon with PetroChina Co. about the sale of a Valero Energy Corp. refinery on the island. San Antonio-based Valero said in July it was continuing talks with PetroChina over the sale of the 275,000 barrel-a-day facility that had been idled because of poor refining margins.

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