WASHINGTON – New signs emerged Wednesday that the economic rebound is sputtering. Sales of new homes hit a record low last month. And mortgage giant Freddie Mac signaled it will need more federal aid — and might never repay it.
Against that backdrop, the government is trying to prop up the housing and job markets. Federal [...]
Archive for the ‘Business News’ Category
Bernanke sees low rates amid signs of weak rebound
February 25th, 2010 
admin 
Posted in Business News 
Tags: Alabama, Bernanke, BMO Capital Markets, Economists, House Budget Committee 
No Comments »Wall Street jumps as EU vows support for Greece
February 11th, 2010 admin NEW YORK (Reuters) – Stocks rose on Thursday as appetite for riskier assets returned after a pledge by European leaders to support debt-ridden Greece eased fears of a possible sovereign default.
Initially stocks had wavered in choppy trade due to a lack of specifics on the European Union’s proposals.
By midday Wall Street mounted a sharp advance [...]
Proposed Bank Rules Surprised Many Around the World
February 11th, 2010 admin The proposed new banking rules here in the U.S. caught many international bankers off guard and were one of the most prominent topics of discussion at the recent World Economic Forum in Davos.
As you probably know, the rules are designed to limit risk-taking by banks. There are two main proposals: 1) prohibiting commercial banks from [...]
Housing Crash Crushes Suburban Ideal
February 11th, 2010 admin As the nation’s home builders try to claw their way out of the biggest abyss in the sector’s history, the future landscape is beginning to look a bit different than they once thought.
All those “ex-urban” communities that were supposed to be the place to put shovels and money are falling victim to a changing demographic, [...]
Global Bank Tax Deal Near, UK’s Brown Says
February 11th, 2010 admin Leaders from the world’s top economies are close to agreeing on a global bank tax and a deal could be reached at a meeting of the Group of 20 nations later this year, according to British Prime Minister Gordon Brown.
The Financial Times newspaper reported on Thursday that Brown believes opinion has shifted decisively in favor [...]
AIG Launches New System for Incentive Pay
February 11th, 2010 admin American International Group has launched a new system to determine how employees get incentive pay, a move that follows public outcry over retention payments the bailed-out insurer made to some staff.
Under the plan, which is being pushed by Chief Executive Robert Benmosche, AIG will rank employees on a scale of 1 to 4, based on [...]
Bernanke Outlines Exit Strategy
February 11th, 2010 admin Federal Reserve Chairman Ben Bernanke outlined the likely path the Fed would take to tighten credit once the economy has recovered enough. In another step toward unwinding its crisis-lending programs, he said Wednesday the Fed could soon begin raising its discount rate, charging more for emergency loans it makes directly to banks.
In testimony prepared for [...]
Posted in Business News Tags: banks, central bank, economy, federal-funds rate, funds, monetary policy, Strategy No Comments »Iceland hires U.S. lawyer in hope of new Icesave talks
February 9th, 2010 admin REYKJAVIK, Feb 9 (Reuters) – Iceland has recruited an American lawyer to lead potential new talks with the British and Dutch governments over the repayment of more than $5 billion lost in Icelandic bank accounts during the financial crisis.
Icelandic Finance Minister Steingrimur Sigfusson told state radio on Tuesday that the government [...]
Wall Street cuts losses, ends up with techs, materials
February 7th, 2010 admin NEW YORK: Stocks erased a midday drop to end slightly higher on Friday, closing out a volatile week punctuated by mixed signals from the labor market data and growing anxiety over fiscal problems in Europe.
Major indexes turned positive heading into the close, as investors scooped up shares in the technology and materials sectors [...]
Social Networking: Your Key to Easy Credit?
February 7th, 2010 admin You probably don’t analyze the chatter or quality of your social media connections, but creditors may be doing just that.
In their quest to identify creditworthy customers, some are tapping into the information you and your friends reveal in the virtual stratosphere. Before calling the privacy police, though, understand how it’s [...]
