Business

New York -- A banking executive downplayed U.S. President Barack Obama's bank-limiting proposals but investors voted quickly, knocking back bank shares on Wall Street.

Washington -- A U.S. Treasury Department official said new guidelines for the Make Homes Affordable program were in the pipeline, and would be ready by the end of January.

Washington, January 22 -- Toyota Motor Corp. Thursday issued a massive recall of more than 2 million cars owing to mechanical problems which cause unwanted acceleration in the vehicles.

New York -- New York financial firm Goldman Sachs says it earned $4.95 billion September through December and will set aside $16.2 billion for staff for the year.

Washington -- Interest rates for 30-year fixed-rate mortgage loans fell for the third consecutive week, the Federal Home Loan Mortgage Corp. said Thursday.

New York-- U.S. markets were mixed Thursday morning, following a downward slide Wednesday that reached from Asia to Europe to the United States.

Washington -- The U.S. Federal Housing Administration said Wednesday it would tighten loan requirements to reduce risks and increase its capital reserves.

Chicago -- Grain futures closed lower on the Chicago Board of Trade as most equity markets around the globe posted losses and the dollar made strong gains Wednesday.

Boston -- The Boston Red Sox have signed premier closer Jonathan Papelbon to a one-year, $9.35 million contract, thus avoiding arbitration.

Tokyo -- Japanese automaker Mazda Motor Corp. Wednesday unveiled the Mazda5 minivan the company said would be ready for sale in Europe this fall.