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Treasury Secretary Timothy Geithner is expected to propose sweeping new financial regulations during Congressional testimony Thursday, including tougher government oversight of financial risk taking, according to reports.



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WASHINGTON (MarketWatch) -- GMAC LLC said Wednesday it has put in place a seven-member interim Board of Managers, removing eight members of the old board and keeping three. The interim board will remain in place until May 22, or until a U.S. Treasury trust is established and appoints the two board members to which it is entitled - whichever comes first. The interim board has four new members, Cerberus Capital Management Founder and Chief Executive Stephen Feinberg; GMAC Chief Executive Alvaro G. de Molina; GMAC Chief Financial Officer Robert Hull; and GMAC Chief Risk Officer Samuel Ramsey.
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Treasury Secretary Timothy Geithner shakes markets when some of his comments over China’s call for a new global reserve currency lead to confusion over U.S. policy and trigger a brief plunge in the dollar.



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Treasury prices extend losses after the government sale of a record amount of five-year notes, as investors demand higher yields to absorb the growing amount of debt.



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British Prime Minister Gordon Brown warns that protectionism poses the biggest risk to a recovery from a global economic downturn and downplays a warning from his own nation’s central bank over government spending.



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Treasury Secretary Timothy Geithner unveils legislation to give the Treasury Department authority to seize control of any financial institution whose collapse would threaten the U.S. economy.



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A closely watched gauge of German business confidence slips in March, reinforcing ideas that the euro zone’s biggest economy has yet to hit bottom.



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Korea Exchange Bank may grant stock options to its new chief executive officer, Larry Klane, despite recent criticism of the practice.



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Are you paralyzed over how to respond to the current market? So are investment managers.



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Federal Reserve Chairman Ben Bernanke says he tried but failed to halt payment of retention bonuses at American International Group.



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