* Jobless claims, looming auction weighs on bonds
* 30-year bonds fall a point
* $13 bln long bond auction at 1 p.m.
* Pre-sale losses yield strong auction demand this week (Adds quote, details, updates prices)
U.S. Treasuries fell on Thursday as signs of improvement in weekly jobs data added fuel to a sell-off ahead of a $30-year [...]
Archive for the ‘Economic Turmoil’ Category
TREASURIES-Bonds down on jobs improvement, looming auction
June 10th, 2010 by Financial Writer
Tags: economy, economy recovery, european economy, european union, financial crisis, fiscal crisis, global financial markets, unemployment rate, us economy, US Treasuries
more...Bernanke Says the Federal Debt Is ‘Unsustainable’
June 9th, 2010 by Financial Writer
WASHINGTON — The chairman of the Federal Reserve, Ben S. Bernanke, warned on Wednesday that “the federal budget appears to be on an unsustainable path,” but also recognized that the “exceptional increase” in the deficit had been necessary to ease the recession.
Mr. Bernanke’s comments before a hearing of the House Budget Committee, reiterated his view [...]
Tags: busimess, economic recovery, economy recovery, european economy, federal debt, Federal Reserve, financial, financial markets, Global Recession, recession, United States economy, us economy
Changes in China Could Raise Prices Worldwide
June 7th, 2010 by Financial Writer
SHANGHAI — The cost of doing business in China is going up.
Coastal factories are raising salaries, local governments are hiking minimum wage standards and if China allows its currency, the renminbi, to appreciate against the U.S. dollar later this year, as many economists are predicting, the cost of manufacturing in China will almost certainly rise.
Although [...]
Tags: businesses, china business, china's manufacturing, economists, financial, financial system, Global Economy, global financial crisis, housing market, inflation, money
As China tries to rein in economy, stock exchange stumbles
May 4th, 2010 by Financial Writer
The Shanghai composite index slides 1.2% on news that the central bank will – again — hike the amount of capital banks are required to hold in reserve.
Reporting from Beijing
China’s leading stock exchange continued its long slide Tuesday, tumbling to its lowest close in seven months after the central government introduced another measure over the [...]
Tags: banks, central bank, China, economic recovery, economy, financial, Global Economy, interest rates, investors, money, stock market
Wall Street is driving up oil prices
March 31st, 2010 by Financial Writer
Oil prices have steadily rose over the last year, and experts are worrying further increases could snuff out an already-fragile global economic recovery.
President Barack Obama is expected to announce Wednesday his plan to open oil and natural gas drilling off the Atlantic Coast and Gulf of Mexico. The proposal aims to reduce the nation’s reliance [...]
Tags: economic recovery, investors, oil prices, us consumers, wall street
European stock markets mainly rise
March 30th, 2010 by Financial Writer
European equities mostly advanced Tuesday, as investors eyed the upcoming holiday break and US economic data, and digested gains made overnight on Wall Street and earlier in Tokyo.
In late morning trade, Frankfurt’s DAX 30 won 0.09 percent to 6,162.42 points and the Paris CAC 40 added 0.06 percent to 4,003.10, while London’s benchmark FTSE 100 [...]
Tags: european equities, financial markets, investors, us economic, wall street
US government to sell stake in Citigroup
March 29th, 2010 by Financial Writer
The US Treasury Department on Monday announced it would sell its multi-billion-dollar stake in Citigroup this year, in what would be one of the largest stock sales in history.
The department said it intends “to fully dispose of its approximately 7.7 billion shares of Citigroup, Inc. common stock over the course of 2010 subject to market [...]
Tags: banks operating, citigroup, market rates, mortgage crisis, us treasury
U.S. unveils plan to shrink some home loans
March 26th, 2010 by Financial Writer
After months of criticism that it hasn’t done enough to prevent foreclosures, the Obama administration is announcing a plan to reduce the amount some troubled borrowers owe on their home loans.
The multifaceted effort will let people who owe more on their mortgages than their properties are worth get new loans backed by the Federal Housing [...]
Tags: borrowers, foreclosures, homeowners, mortgage companies
Financial reform diluted with bankers in mix
March 24th, 2010 by Financial Writer
For all the proposals stuffed into its 1,336 pages, the financial reform bill that’s headed to the full Senate soon will change very little for the banks that brought us the most dire financial system crisis since the Great Depression, critics say.
When proposed a year ago by Senate Banking Committee Chairman Christopher Dodd, D-Conn., the [...]
Tags: bankers, banking system, financial reform, financial system, predatory lending
Walgreen 2Q profit up as prescription sales rise
March 23rd, 2010 by Financial Writer
Walgreen Co., the largest U.S. drugstore chain, said Tuesday its profit rose 4.5 percent during the fiscal second quarter on a boost in prescription drug sales.
The company said it earned $669 million, or 68 cents per share, up from $640 million, or 65 cents per share, a year earlier. Revenue rose 3.1 percent to $16.98 [...]
Tags: leading drugstore, physician visits, restructuring costs, us drugstore chain, walgreen