The European Union urged Greece on Monday to announce new austerity measures within days to tackle a debt crisis that has shaken the euro zone and promised to help Athens overcome the problem.
EU Economic and Monetary Affairs Commissioner Olli Rehn made the call after a first round of talks with Greek officials amid growing market [...]
Archive for the ‘Debt’ Category
EU tells Greece to do more on budget, markets improve
March 1st, 2010 by Financial Writer
Tags: athens, debt crisis, eu economic, european union, greece, greek borrowing, greek debt
more...Greek PM says economic crisis confirmed worst fears
February 26th, 2010 by Financial Writer
Prime Minister George Papandreou on Friday vowed to ignore the political costs and take drastic measures to pull Greece out of a debt crisis threatening the stability of the euro zone.
Speaking to parliament after a visit by EU economic inspectors, Papandreou said Greece did not want other countries to pay for its debts but expected [...]
Tags: debt crisis, economic crisis, eu economic, euro zone, greek pm, greek stocks
Durable goods orders rise 3 percent in January
February 25th, 2010 by Financial Writer
Orders to U.S. factories for big-ticket manufactured goods shot up in January by the largest amount in six months, but the strength came from a surge in demand for commercial aircraft.
Demand for autos, machinery and a host of other products fell last month, indicating manufacturing is still facing hurdles that could slow the economic recovery.
The [...]
Tags: commerce department, commercial aircraft, domestic economy, economic recovery, manufactured goods
Fed to Get $200 Billion Boost
February 24th, 2010 by Financial Writer
The Treasury said it will borrow $200 billion and leave the cash proceeds on deposit with the Federal Reserve, reviving a program that will make it easier for the Fed to raise interest rates when the time comes.
Officials sought to dispel the notion that the move marks a step toward tightening credit now.
Fed Chairman Ben [...]
Tags: ben bernanke, borrow, borrowing, fed, Federal Reserve, financial services, interest rates
Confidence sags on jobs worry; housing shaky
February 23rd, 2010 by Financial Writer
U.S. consumer confidence sagged to a 10-month low on worries about jobs while the housing market remains under strain, data revealed on Tuesday, underscoring the fragility of the economy’s recovery.
U.S. consumer confidence fell in February to the lowest in 10 months, as consumers’ short-term outlook on jobs worsened, according to a report from an industry [...]
Tags: commercial real estate, economy's recovery, housing market, housing shaky, us consumer
Poll: Economists see ‘healthy’ expansion under way
February 22nd, 2010 by Financial Writer
Economists expect the recovery to remain “firmly on track” over the next two years though job growth is likely to remain slow, according to a new survey.
The latest outlook from The National Association for Business Economics, set to be released Monday, sees regular job gains resuming this quarter but no drop in unemployment below 9 [...]
Tags: business economics, economists, federal debt, inflation, unemployment
Low inflation gives Fed room to keep rates down
February 20th, 2010 by Financial Writer
The Federal Reserve seems likely to keep interest rates at record lows for several more months after news Friday that consumer prices excluding food and energy fell in January.
It was the first time such prices have fallen in any month since 1982.
The tame report on consumer prices sent a positive signal to investors and borrowers. [...]
Tags: borrowers, businesses, Dow Jones Industrial, economic recovery, Federal Reserve, global financial markets, investors, low inflation
Consumers spent at 2009 levels in January
February 18th, 2010 by Financial Writer
American consumers say they reduced their spending in January to levels similar to early 2009, when the U.S. economy was still in recession, according to a Gallup poll released on Thursday.
The findings, which contradict U.S. data suggesting spending strength in January, showed consumers in all income brackets and geographic regions spending less in January vs. [...]
Tags: consumers, financial markets, great depression, us economy, us retail sales
Deere profit beats Wall Street
February 17th, 2010 by Financial Writer
Deere & Co (DE.N) posted higher-than-expected earnings, sending its shares up more than 8 percent, as wider margins at its farm equipment and finance units helped it overcome weak economic conditions.
The company on Wednesday also raised its outlook for fiscal 2010 machinery sales growth to a range of 6 percent to 8 percent, from a [...]
Tags: business, deere, finance, financial services, wall street
World markets buoyed by banks despite Greek fears
February 16th, 2010 by Financial Writer
World stock markets mostly rose Tuesday after strong earnings from British bank Barclays PLC and ahead of Wall Street’s open following a public holiday in the U.S.
However, investors, particularly in Europe, remained wary about the Greek debt crisis and the associated response from the European Union.
In Europe, the FTSE 100 index of leading British shares [...]
Tags: british bank, european union, greek debt, greek fears, stock markets
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