From Fnno.com, This is the financial news network. Here’s what’s in the news for Thursday August 23, 2012. The Wall Street Journal reports the Fed sent a strong signal that it’s preparing new steps to bolster the economic recovery, saying measures would be needed fairly soon unless growth substantially and convincingly picks up, according to minutes form the July 31-August 1 policy meeting. The Wall Street Journal also reports SEC Chairman Mary Schapiro called off a highly anticipated vote on rules for the money-market mutual-fund industry after losing a swing vote she needed to push through the rules. Reuters reports Sharp Corp.’s (PINK:SHCAY) main creditors, Mizuho Corporate Bank and Mitsubishi UFJ Financial Group (MTU), are considering extending about $2.52B in new loans to the struggling TV maker. Bloomberg reports the New York Fed’s role in the $182.3B rescue of AIG (NYSE:AIG) is ending on a high note today as the bank plans to sell $3.4B in toxic mortgage debt inherited four years ago when it bailed out AIG. The assets are the last batch from its Maiden Lane III LLC portfolio. Finally, Bloomberg also reports Target (NYSE:TGT) won the latest round in its pricing battle with Wal-Mart Stores (NYSE:WMT), as it had lower prices than Wal-Mart this month for the first time since October, according to research conducted by Bloomberg Industries, which showed it led by its widest margin since the monthly study began two years ago. For more financial news and analysis follow us on Twitter @FNNOnline or check out our website at fnno.com.
