FCC Robocall Crackdown… Morning Business Memo

The FCC is set to approve a crackdown on robocalls.  The FCC is expected to approve  tougher rules today on when you can be called. They would give consumers stronger protections against annoying autodialled or pre-recorded calls to home phone lines. The aim is to end the loopholes in Do Not Call legislation passed by Congress in 2008. Telemarketers would have to get permission in writing before placing automated calls. Under current rules, consumers who have business relationship with a company may be called without permission.

Robocalls from political groups and non-profit organizations such as schools would not be covered by the new FCC regulations.

A takeover in the banking industry.  Capitol One has won federal approval to buy ING Direct for $9 billion. The combined company would become America's fifth largest bank. In a brief statement, the Federal Reserve said it had given its approval after directing Capital One to upgrade its risk-management functions.

A pretty good year for airline performance,The Transportation Department says fewer passengers were bumped in 2011 - fewer bags lost. And on time performance was among the best in recent years.

A new report from the US Chamber of Commerce in Shanghai says American businesses are less confident about their prospects in China. It blames rising costs, intense competition and interference by Chinese regulators.

A possible recession in the eurozone. New numbers show the economy in the 17 nations shrank 3 tenths of 1 percent in the last three months of last year. Greece's finance minister says "very few" issues remain in talks with international creditors. Evangelos Venizelos says requirements for Greece's second bailout should be completed today ahead of a conference call with eurozone finance ministers.

Richard Davies Business Correspondent ABC NEWS Radio twitter.com/daviesabc

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