Wednesday, April 25, 2012

Small banks can't repay bailout loans

Welcome to the morning roundup. Here's a look at today's banking and finance news.

TARP. More than 350 small banks can't afford to repay their government bailout loans, a top watchdog will warn in a report today, according to the Wall Street Journal. The relief program's special inspector general said those banks, which have about $15 billion in outstanding TARP loans, face a "significant challenge" in raising money to pay them back.

Trouble abroad. The U.K. slipped back into recession as its economy shrank in the first quarter, marking its first double-dip recession since the 1970s, Bloomberg reports.

Wall Street pay. Forbes has more on CEO pay, following Citi shareholders' rejection of the bank's executive compensation plan. It details how execs are paid - and how their banks have performed relative to peers and the broader market.

Stocks climbing. Markets moved higher this morning after strong results from Apple, Reuters reports.