Senior U.S. Federal Reserve officials said on Thursday inflation is not an immediate threat as a weak economic recovery and a grim outlook for jobs keep price pressures in check.
Charles Plosser, head of the Federal Reserve Bank of Philadelphia and Richard Fisher, his counterpart at the Dallas Fed, said the U.S. recovery was underway but [...]
Archive for November, 2009
Fed sees little risk of inflation in weak economy
November 19th, 2009 by Financial Writer
Tags: economic recovery, fed, Federal Reserve, inflation, us recovery, weak economy
more...McDonald’s redesign aims for European lounge
November 19th, 2009 by Financial Writer
A McDonald’s in downtown Manhattan became the first in the U.S. this fall to undergo a sleek, European-style makeover similar to what McDonald’s has done at thousands of outlets around in France and the United Kingdom.
The eatery is outfitted with outlets for plugging in laptops, upholstered vinyl chairs instead of Fiberglas seats bolted to the [...]
Tags: danya proud, economy, mcdonald's, recovery economy, sales
Dollar mostly lower as Fed official says ‘2012′
November 18th, 2009 by Financial Writer
The dollar mostly declined Wednesday, with the euro bumping up near $1.50 as a Federal Reserve official said in a speech that interest rates could possibly not rise until 2012 from their current record low near zero — if the Fed acts as it has before.
Lower interest rates can drive down the value of a [...]
Tags: business leaders, economic, fed, Federal Reserve, recessions, the dollar
Banks, policymakers spar over new rules
November 17th, 2009 by Financial Writer
Big banks stepped up warnings on Tuesday that tightening capital rules too soon could stall economic recovery, but policymakers said the bailed out sector cannot rely on taxpayers again in future.
Regulators are drafting tough rules that will force banks to hold far more capital and lessen the need for the kind of public rescues seen [...]
Tags: banks, big banks, economic recovery, g20, HSBC, investors
Coca-Cola sees massive global sales growth
November 16th, 2009 by Financial Writer
Coca-Cola Co. seeks to double its business in the next decade as it caters to the expected billion people worldwide who will join the middle class by 2020.
The world’s largest soft drink maker told analysts and investors at a meeting Monday its systemwide revenue will reach $200 billion by 2020. The company hopes to make [...]
Tags: business, coca cola, global sales, investors, recession
GM reports $1.2B 3Q loss, says it shows progress
November 16th, 2009 by Financial Writer
General Motors Co. says it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business.
The company also says it will begin repaying $6.7 billion in U.S. government loans with [...]
Tags: business, general motors, GM's global, vehicles
‘2012′ has worldwide box-office bang of $225M
November 15th, 2009 by Financial Writer
Doom spelled dollars at the box office as the global-disaster tale “2012″ opened at No. 1 domestically with $65 million and pulled in $225 million worldwide.
The Sony Pictures action saga tells the story of a scramble to save remnants of humanity aboard giant arks as the earth’s crust shifts and flood waters pour over most [...]
Tags: 2012, dollars, global disaster, sony pictures
Warren Buffett: The financial panic is over
November 13th, 2009 by Financial Writer
Capitalism is still alive and well, say the world’s two richest men, despite lingering shocks from the longest, deepest recession since the Great Depression.
“The financial panic is behind us,” said famed investor Warren Buffett, who recently made what he called an “all-in wager” on the U.S. economy by acquiring railroad Burlington Northern Santa Fe. “The [...]
Tags: american businesses, financial panic, investor, us economy, warren buffett
United Technologies to buy GE’s security business
November 12th, 2009 by Financial Writer
United Technologies Corp. on Thursday said it will acquire General Electric Co.’s fire detection and security business for $1.82 billion.
United Technologies said the deal will strengthen its own security operations in North America. Its fire and security portfolio currently includes products such as portable fire extinguishers, consumer security systems, and gas and flame detection products.
The [...]
Tags: general electric, security business, strategic businesses, transaction, united technologies
U.S., Asian finance ministers see common goals
November 11th, 2009 by Financial Writer
The United States and Asia are inextricably linked and must work together to build a more stable economy, top U.S., Indonesian and Singaporean finance officials wrote in an editorial to be published on Thursday.
In the editorial prepared for the Wall Street Journal Asia, U.S. Treasury Secretary Timothy Geithner, Indonesian Finance Minister Sri Mulyani Indrawati and [...]
Tags: finance minister, stable economy, United States economy, wall street