Global cruise lines set sail for China in pursuit of booming leisure market China fines 12 Japanese auto parts suppliers $202 million in spreading anti-monopoly probe Lowe's 2nd- quarter profit climbs on improving weather; trims full-year revenue outlook Global stocks drift, with European markets turning lower, as traders wait for US Fed signals US home construction jumps 15.7 percent in July to 1.09 million rate, fastest pace in 8 months Bank of England board divided for the first time since 2011 on whether to raise interest rates Peanut, almond butter from Hain Celestial unit recalled due to salmonella risk Private company pays $8 million in back wages, benefits to staff at California-based prison Uncertainty in Russia, Eastern Europe causes beer sales drop for Carlsberg PetSmart to consider selling itself after pressure from investors, says it plans to cut costs» Read More
Chicago Federal Reserve Bank President Charles Evans said on Wednesday that U.S. interest rates are now "accommodative" and should help to support stronger growth in the second half of 2008.
An awful lot of people were on the phone to their mortgage brokers last week--according to the Mortgage Bankers Association’s Weekly Applications Survey. Application volume increased 48 percent from the week before, but before you go calling an end to the housing downturn, there’s something you should know:
Orders for big-ticket manufactured goods fell for a second straight month in February, a worse-than-expected performance that provided more evidence of a slumping economy.
Top central bankers warned on Wednesday there was no end in sight yet to the global credit crunch as German banking giant Deutsche said the crisis threatened its profit target for this year.
Tighter lending conditions have made the Bank of England more inclined to cut interest rates as the global credit crunch enters a new and difficult phase, Mervyn King, the central bank's governor, said on Wednesday.
The European Commission expressed concern on Wednesday about the euro's rise, saying it added to the strengthening headwinds facing euro zone growth, but stuck to its 1.8 percent forecast for 2008 economic growth.
The interbank cost of borrowing three-month dollar, sterling and euro funds rose on Tuesday, according to the British Bankers Association's latest daily fixing, despite central banks continuing to pump funds into the money market.
South Korea's central bank chief on Tuesday said an expected annual current account deficit and high inflation favored higher interest rates, although a slowing economy supported the case for steady or lower rates.
British Prime Minister Gordon Brown and French President Nicolas Sarkozy will urge banks this week to make "full and immediate disclosure" of write-offs due to the global credit crisis, British officials said on Monday.
I’ve been reporting on the new proposals from House Financial Services Committee Chairman Barney Frank that he put forth in a news conference this morning. A lot of it is very complicated and has to do tighter regulations of capital markets and investment banks.
So instead of holding reform over their heads, the government finally let up and gave Fannie and Freddie a break on their capital requirements--which were above the norm as a punishment for previous accounting “issues.”
Fed Chairman Ben Bernanke’s stock is at a 52-week high on Wall Street --- with the exception perhaps of Bear Stearns, which appears to be selling him short.
A day after the Federal Reserve cut interest rates another three-quarters of a point, CEOs joined Squawk Box to share their outlook on the economy and markets.
Two of the nine Bank of England policymakers opposed this month's decision to keep interest rates at 5.25 percent, preferring an immediate quarter-point cut to shore up the economy in the face of a global downturn.
Stocks take off after better-than-expected earnings from Lehman and Goldman and go higher still on another Fed rate cut. Also, breaking news on the Visa IPO and more.
Well, not altogether true, of course. Or rather: It´s not so much confidence, but the notable lack thereof. Has Ben Bernanke completely lost his bearings? That's the question of the day ...
Stocks soared Tuesday, led by financials, as the market breathed a huge sigh of relief following better-than-expected earnings from Goldman Sachs and Lehman Brothers.
Today's statement is another in a series of very significant communications from the Fed. At the extreme, it could mean the Fed is done cutting rates, barring any more massive credit-market upheavals.
The Federal Reserve announced a 75 basis point cut to its Fed Funds Target today, bringing the rate down to 2.25%, its lowest level since January 2005. The Fed has now cut the rate by 3.0% since it began easing in September of last year. How does 300 basis points over 180 days compare to past easing periods?
The size of the Fed’s expected rate cut today may help stimulate a sluggish economy. But it is unlikely to unfreeze the credit markets, especially the mortgage one.