KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington have continued to coddle the big banks even after they drove our economy into the ditch, this agency seems serious about recovering money for taxpayers by holding bad financial actors to account.
The [...]
Posts Tagged ‘Global Economy’
Holding Bankers’ Feet to the Fire
July 18th, 2010 by Financial Writer
Tags: banks, business, economy recovery, fannie Mae, financial markets, financial system, freddie Mac, Global Economy, investors, mortgage finance, taxpayers, us economic, us stocks, wall street
more...Bank stocks get hammered
June 29th, 2010 by Financial Writer
Bank stocks tumbled Tuesday on the heels of negative global economic data and concern that a financial reform bill won’t pass in the Senate.
Morgan Stanley (MS, Fortune 500), Bank of America (BAC, Fortune 500) and JPMorgan (JPM, Fortune 500) all closed about 4% lower.
Those stocks slid amid renewed concern that the Wall Street reform bill [...]
Tags: bank of america, bank stock, economic, financial, financial system, Global Economy, loans, money, us economy
U.S. Stocks Fluctuate on G-20 Deficit Pledge, Consumer Spending
June 28th, 2010 by Financial Writer
U.S. stocks swung between gains and losses as a bigger-than-forecast rise in consumer spending and a pledge by Group of 20 leaders to cut deficits offset smaller- than-estimated growth in personal incomes.
Transocean Ltd., the company that leased the Deepwater Horizon drilling rig in the Gulf of Mexico to BP Plc, advanced after the British oil [...]
Tags: commerce department, consumer spending, debt crisis, Dow Jones Industrial, economic recovery, european economy, financial leaders, Global Economy, us stocks
Yen, Dollar Advance on Speculation Economic Recovery Sputtering
June 24th, 2010 by Financial Writer
The yen and the dollar gained against most major counterparts as signs the global economic recovery is faltering fueled demand for the safest currencies.
The Japanese currency remained the top performer among the most-traded currencies even after data showed U.S. jobless claims declined last week. Stocks fell on concern Europe’s debt crisis is worsening. Federal Reserve [...]
Tags: commerce department, debt crisis, economic recovery, financial system, Global Economy, home sales, unemployment, us, us economic, us federal reserve
Gold prices ease off fresh highs
June 21st, 2010 by Financial Writer
The price of gold surged to a fresh intraday record Monday before pulling back as investors digested China’s decision to allow the yuan to appreciate against the dollar.
What prices are doing: Gold for August delivery rose 40 cents to $1,258.70 an ounce. Earlier, prices climbed to $1,266.50, beating the record intraday high of $1,263.40 set [...]
Tags: bank of china, Chinese economy, financial crisis, Global Economy, gold price, investor, investors, precious metal
Yuan shot heard round the world but quiet in China
June 19th, 2010 by Financial Writer
China’s announcement that it will resume currency reform made waves globally but caused barely a ripple at home on Sunday, with major newspapers merely reprinting the central bank’s statement.
The People’s Daily, the main organ of the ruling Communist Party, put the news on its back page, while the banner headline on the website of the [...]
Tags: bank of china, central bank, China, Chinese economy, economists, european union, financial leaders, Global Economy, global financial crisis, IMF
Industrial Production in U.S. Increased 1.2% in May
June 16th, 2010 by Financial Writer
Production in the U.S. rose in May by the most since August, led by increases in automobiles and utilities and showing manufacturers are weathering the effects of the European debt crisis.
Output at factories, mines and utilities increased 1.2 percent last month after a 0.7 percent gain in April, figures from the Federal Reserve in Washington [...]
Tags: business, commerce department, economy recovery, european economy, Global Economy, interest rates, us federal reserve, us housing market
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
Stocks extend a run
June 3rd, 2010 by Financial Writer
Stocks gained Thursday, building on the previous session’s advance, as investors looked past some weaker-than-expected economic news and focused on recovery hopes.
The Dow Jones industrial average (INDU) gained 46 points, or 0.4%. The S&P 500 index (SPX) rose 5 points, or 0.5% and the Nasdaq composite (COMP) gained 13 points or 0.6%.
On Wednesday, stocks bounced [...]
Tags: businesses, Dow Jones Industrial, economic, economists, european economy, financial markets, Global Economy, Nasdaq composite, stock bounce, stock market, unemployment
Gold slips below $1,220 but investment supports
June 2nd, 2010 by Financial Writer
Gold slipped below $1,220 an ounce in Europe on Wednesday as investors cashed in some of the previous session’s gains, but investment demand for the metal as a haven from risk is expected to continue to underpin prices.
The dollar strengthened and equity markets slipped as persistent fears the euro zone’s debt crisis could hamper the [...]
Tags: business, debt crisis, economic recovery, euro zone, european economy, european union, financial markets, Global Economy, IMF, investors, us economy