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What's In The News: August 10, 2012

Financial News Network
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August 14, 2012 AT 1:16 AM
From Fnno.com, This is the financial news network. Here's what's in the news for Friday August 10, 2012. The Wall Street Journal reports the U.S. trade deficit with other countries narrowed to $42.9B in June from $48B in May as imports fell and exports grew, but there are serious headwinds from the recession throughout much of Europe and softening growth in Asia. The Wall Street Journal also reports Cheniere Energy Partners (NYSE:CQP) is proceeding with the construction of facilities to liquefy and export natural gas in Louisiana, moving the U.S. one step closer to becoming a major exporter of the commodity. Reuters reports U.S. regulators directed five of the nation's biggest banks, including Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS), to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks couldn't count on government help. Finally, Bloomberg reports KKR & Co. (NYSE:KKR) nearly doubled its direct lending to troubled companies as Europe's financial crisis forces banks to retreat. The firm increased investments, mostly in the form of privately negotiated lending arrangements, to $512.5M in the first half, from $260M in the first six months of 2011 and a 23% increase over last year's second half. For more financial news and analysis follow us on Twitter @FNNOnline or check out our website at fnno.com.