Vikram Pandit, chief executive of Citigroup, has snatched some of Jamie Dimon’s market momentum. Mr. Dimon, who runs JPMorgan Chase, has lately been setting a comforting tone for the sector’s earnings. But growing foreclosure-related fears overshadowed his bank’s latest decent results. Now, his counterpart at Citigroup seems to be the one reassuring investors.
Not that Citi’s [...]
Archive for the ‘Global Financial’ Category
Citi’s Good News Proves Reassuring
October 18th, 2010 by Financial Writer
Tags: business, european economy, Federal Reserve, financial markets, foreclosure, mortgage lenders, us tax
more...Bernanke’s Caution Doesn’t Dim View On Asset Buys
October 16th, 2010 by Financial Writer
BOSTON (MarketWatch)–While Federal Reserve Chairman Ben Bernanke was regarded as cautious about a second round of bond-buying to stimulate the economy, economists on Friday said the underlying message was still that some sort of program would be enacted.
“Bernanke knows that the market is allocating more than a 90% probability [of a second round of bond [...]
Tags: economists, economy recovery, Federal Reserve, inflation, loans, monetary, money, unemployment rate, us economy
Administration delays China currency report
October 15th, 2010 by Financial Writer
The Obama administration announced Friday it will delay a scheduled report on whether China is manipulating its currency to gain trade advantages until after upcoming meetings with world leaders next month.
Instead of putting out a report, the Treasury Department issued a statement praising China for letting the yuan appreciate by roughly 3 percent since June [...]
Tags: Chinese economy, economy recovery, Global Economy, U.S. markets
Gold May Climb to Record $1,650 an Ounce on Fed Easing, Goldman Forecasts
October 13th, 2010 by Financial Writer
Gold may rally more than 20 percent from this month’s record to a high of $1,650 an ounce in 12 months as the Federal Reserve takes action to stimulate the U.S. economy, according to Goldman Sachs Group Inc.
Bullion may gain to $1,400 an ounce in three months and $1,525 an ounce in six months, analysts [...]
Tags: Federal Reserve, interest rates, monetary, us economic recovery, us economy
Economy shed 95,000 jobs in September
October 10th, 2010 by Financial Writer
A sharp falloff in local government payrolls, mostly at schools, added an ominous new weight to the depressed labor market last month as the American economy lost 95,000 jobs and the unemployment rate remained at 9.6 percent.
In the last monthly employment report before the Nov. 2 midterm elections, which many see as a referendum on [...]
Tags: Dow Jones Industrial, economic indicators, economists, economy activity, lower interest rates, unemployed americans, unemployment rate
China Opposed to Rapid Yuan Gain, Tells EU to Back Off
October 6th, 2010 by Financial Writer
China stiffened its opposition to a rapid appreciation of the yuan, setting the stage for a confrontation over exchange rates at this week’s international monetary meetings in Washington.
Premier Wen Jiabao said China will stick to its policy of gradually increasing the currency’s flexibility and lashed out at European Union leaders for teaming with the U.S. [...]
Tags: bank of japan, central bank, economic growth, economic recovery, european economy, Global Economy, japan's economy, money, us economic, world economic
A New Bid to Prop Up Economy Brings Shrugs in Japan
October 5th, 2010 by Financial Writer
FOR years, Japan has flooded its moribund economy with money: interest rates near zero, asset purchases by the central bank and public works projects that have dammed the nation’s rivers and paved remote mountain roads.
Japan’s central bank redoubled that effort Tuesday, lowering its benchmark interest rate to a range of 0 percent to 0.1 percent [...]
Tags: central bank, economic growth, economic recovery, interest rates, japan's economy, money, stock market, us economy
Japan’s Benchmark Bond Yields Are Near Six-Week Low as Central Bank Meets
October 4th, 2010 by Financial Writer
Japan’s 10-year government bond yields were near a six-week low on speculation the Bank of Japan will unveil additional easing steps after a policy meeting today.
Ten-year bond futures advanced to the highest level in seven years after Nikkei English News said the central bank may boost purchases of government bonds. Demand for the safety of [...]
Tags: central bank, economic, economic recovery, financial system, interest rates, japan's economy, stock market, us economic
China not headed for currency war- Geithner
October 1st, 2010 by Financial Writer
The United States and China can manage differences over Beijing’s currency policies without starting a trade war that damages both sides, U.S. Treasury Secretary Timothy Geithner said on Thursday.
“We’re not going to have a trade war. We’re not going to have currency wars,” Geithner said one day after the House of Representatives passed legislation authorizing [...]
Tags: economic activity, economic recovery, economy recovery, financial system, Global Economy, Global Markets, IMF, loans, money
New U.S. financial risk council meets Friday
September 30th, 2010 by Financial Writer
A new council of U.S. regulators charged with identifying risks to the financial system holds it first meeting later on Friday with an agenda that includes risky trading and how to pick which non-bank financial institutions need special scrutiny.
The Financial Stability Oversight Council, created under the financial overhaul signed into law in July, is scheduled [...]
Tags: economic growth, economy recovery, european central bank, financial crisis, financial system, loans, stock market, us economy