Finance

Bank of America May Name Stopgap CEO to Allow Board More Time for Search Bank of America Corp.’s board may extend its search for a new, permanent chief executive officer into 2010 if directors can’t settle on a candidate in the next four days, according to people familiar with the matter.

Fed Makes Monitoring Capital Adequacy Foremost Concern Amid Talk of Bubble Federal Reserve officials are stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a reversal of soaring global-asset prices, according to people with knowledge of the matter.

Buffett Taps JPMorgan, Wells Fargo for $8 Billion Loan in Burlington Deal JPMorgan Chase & Co. and Wells Fargo & Co. are arranging an $8 billion loan for Warren Buffett’s Berkshire Hathaway Inc. to help finance the takeover of railroad Burlington Northern Santa Fe Corp.

Morgan Stanley Hands Over Crescent to Barclays to Win Forgiveness of Loan Morgan Stanley agreed to hand over a real-estate business acquired in 2007 to Barclays Capital, ending the New York firm’s obligation on a $2 billion loan after taking almost $1 billion in losses.

RBS Sells $7 Billion of Debt in Biggest U.S. Corporate Offering Since May Royal Bank of Scotland Plc, sold $7 billion of debt due in March 2012, according to data compiled by Bloomberg, equaling the largest U.S. corporate sale since May.

Dubai's Sheikh Mohammed Tightens Control of Emirate, Downgrades Key Aides Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum has consolidated his hold on the debt-laden emirate, downgrading powerful figures behind the city-state’s boom that turned to a bust.

JPMorgan Chase Will Remove Arbitration Clause From Credit-Card Contracts JPMorgan Chase & Co.’s credit-card contracts will no longer require disputes to be settled through arbitration, a practice that lawmakers said was biased against cardholders, to help settle an antitrust lawsuit.

UBS Hires Former ICAP, Citigroup Trader Knight to Head Hedge-Fund Sales David Knight, a former sales trader at ICAP Plc and Citigroup Inc.’s equities businesses, is joining UBS AG to lead a team of salespeople catering to hedge funds.

`Overvalued' U.K. Housing Market May Not Return to Peak Prices Until 2014 U.K. house prices will probably fall next year, and it may take until 2014 to return to the levels at the 2007 peak of the country’s biggest housing boom, according to a Bloomberg survey.

Cadbury's Carr Stared Down Goldman and RWE as Preparation for Kraft Duel Roger Carr, Cadbury Plc’s chairman, once thwarted Goldman Sachs Group Inc., then led by former Treasury Secretary Henry Paulson, from bidding for pub chain Mitchells & Butlers Plc in 2006.

China's Listed Banks May Need $44 Billion Capital as Loans Surge, BNP Says China’s 11 largest publicly-traded banks may need to raise about 300 billion yuan ($44 billion) by selling shares and bonds to ensure they have adequate capital for credit growth, according to BNP Paribas.