The Federal Reserve is fine-tuning a strategy to reel in some of the unprecedented amount of money that’s been pumped into the economy during the financial crisis.
The Federal Reserve Bank of New York said Monday that investors and others shouldn’t conclude anything about when the central bank will reverse course and start boosting interest rates [...]
Archive for November, 2009
After flooding economy, Fed to mop up money
November 30th, 2009 by Financial Writer
Tags: central bank, economy, fed, federal reserve bank, financial crisis, investors
more...Holiday shopping off to mildly encouraging start
November 30th, 2009 by Financial Writer
After shoppers gave retailers a somewhat encouraging start to the holiday shopping season, stores now turn their attention to the online promotions known as Cyber Monday and bringing back customers the rest of the season.
The good news is that holiday shopping held steady through the Thanksgiving weekend after retailers saw a huge crowd of bargain [...]
Tags: business, economic worries, holiday shopping, thanksgiving
Hold your nose: garlic is best investment in China
November 27th, 2009 by Financial Writer
The price of garlic in China has nearly quadrupled since March, propelled by its very pungency to rank ahead of gold and stocks as the country’s best-performing asset this year.
The trigger for the bull run may have been the idea that the potent bulb can ward off H1N1 swine flu, Morgan Stanley economists said.
That chimes [...]
Tags: China, china business, garlic, H1N1, swine flu
Group: Chinese overinvestment could strain trade
November 26th, 2009 by Financial Writer
China’s stimulus spending has fueled massive overexpansion in industrial capacity that could drive a surge in low-priced exports amid weak global demand, possibly igniting a protectionist backlash abroad, a European business group warned Thursday.
Industries including steel, cement and plastics are “still blindly expanding” despite the worst global slump since the 1930s, the European Union Chamber [...]
Tags: business groups, chinese leaders, european business, group chinese, unemployment
Sony optimistic on 3-D TVs, in-house display
November 26th, 2009 by Financial Writer
A third to a half of the Sony Corp. TV sets sold annually will be packed with 3-D features by the year ending March 2013, a senior executive said Thursday.
But Sony Executive Deputy President Hiroshi Yoshioka acknowledged that what Sony may really need for its money-losing TV business is its own display technology and the [...]
Tags: global market, money losing, sony business, tv business
Dubai seeks debt delay, some units cut to junk
November 25th, 2009 by Financial Writer
Dubai said on Wednesday two of its flagship firms planned to delay repayment on billions of dollars of debt as a first step toward restructuring Dubai World, the conglomerate that spearheaded the emirate’s breakneck growth.
The sudden move by the Gulf government led Standard & Poor’s and Moody’s Investors Service to deeply downgrade several government-related entities. [...]
Tags: debt delay, dubai, global credit, islamic, real estate investment
Stocks rise after slew of economic reports
November 25th, 2009 by Financial Writer
Stocks rose in light volume Wednesday following a drop in weekly unemployment claims to the lowest level of the year and a rise in new home sales.
Trading volume was thin ahead of the Thanksgiving holiday. Light volume can exacerbate swings in the market.
The Labor Department said new claims for unemployment insurance fell by 35,000 last [...]
Tags: home sales, investors, stocks, thanksgiving holiday, unemployment
Banks earn $2.8B in 3Q; insurance fund in the red
November 24th, 2009 by Financial Writer
The apparent end of the recession and stabilizing financial markets have not cured the banking industry, the Federal Deposit Insurance Corp. said Tuesday.
Banks earned $2.8 billion in the third quarter, but loan balances plummeted and the fund that insures their deposits was $8.2 billion in the red. Souring loans continued to hurt bank balance sheets, [...]
Tags: banking industry, banks, fdic, financial markets, loans outstanding, recession
Stocks climb on report showing jump in home sales
November 23rd, 2009 by Financial Writer
A weaker dollar and better-than-expected data on the housing market sent investors moving back into stocks Monday after a three-day losing streak.
Major stock indexes soared more than 1.5 percent in early trading, including the Dow Jones industrials, which rose about 170 points.
A report showing a big jump in home sales reinvigorated investors after disappointing reports [...]
Tags: central bank, Federal Reserve, home sales, interest rates, investors
Stocks fall in early trading as dollar rises
November 20th, 2009 by Financial Writer
The stock market lost ground for a third straight day as investors grew increasingly uneasy about a rising dollar and spiking demand for the safest government debt.
With little U.S. economic news to help sway the market Friday, the dollar again drove trading. A strengthening dollar curtails foreign demand for commodities, which are often traded in [...]
Tags: businesses, Debt, investors, rising dollar, us economic