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Federal Reserve Chairman Ben Bernanke is speaking as though the Fed has controls over unemployment as well as price stability. That's a sure way to get Congress to exercise the authority by which it created the Fed and start overseeing it more closely.
An analyst upgrade of 3M and surprisingly strong wholesale-inventory data boost participants' mood, though many are still guarded against any bad economic news that could come in the days ahead.
SPOKANE, Wash.----Sterling Financial Corporation today announced, for its wholly-owned subsidiary, Sterling Savings Bank, the appointments of Greg Seibly as chief executive officer and member of the board of directors, and Ezra Eckhardt as president and chief operating officer for the bank.
The Wall Street firm is taking a "very hard look" at whether to pay people less because of public outrage over bonuses, says board member William George
Stocks advance after slide as investors look past concerns about global debt; Dow adds 51
(AP:NEW YORK) The dollar weakened slightly from 5-week highs Wednesday. It's been gaining steadily since the start of the month. On Wednesday, the 16-nation euro rose to $1.4714 in late New York trading from $1.4685 late Tuesday.
(AP:NEW YORK) A sell-off in commodities continued Wednesday, sending oil, gold and other metals falling even as the dollar weakened. Oil prices fell for a sixth straight day, while gold extended its decline to a fourth day, dropping 2 percent to its lowest level in nearly a month.
U.S. Treasury Secretary Timothy Geithner on Wednesday extended the government's $700 billion financial bailout fund to October 2010, saying it was still needed for "significant challenges" in the economy.
Dec. 10 (Bloomberg) -- Switzerland’s central bank said it will stop purchases of corporate bonds as it joins other countries in starting to withdraw emergency measures.
The euro was steady against the dollar Thursday, but near recent lows as worries about European governments' finances continued to weigh on the common currency.
WASHINGTON (AP) — Treasury Secretary Timothy Geithner told Congress Wednesday that the administration will extend the government's financial bailout program until next fall, saying it's needed to protect against fresh economic shocks.
Dec. 10 (Bloomberg) -- Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc.
WASHINGTON (AP) — The Obama administration has extended the $700 billion financial bailout program until October, setting up a struggle between Democrats who favor using some of the leftover money to help generate jobs and Republicans who say it should be used to shrink soaring budget deficits.
It wasn't too long ago big-time hedge fund managers like James Pallotta were erecting monuments to themselves. In Pallotta's case, it was a $21 million Georgian-style mansion he built in 2007 in Weston, a leafy Boston suburb uncomfortable with such displays of wealth.
Dec. 10 (Bloomberg) -- The yen fell for the first time in four days against the euro after an Australian report showed companies added six times as many jobs as economists estimated, spurring demand for higher-yielding assets.
Dec. 10 (Bloomberg) -- The yen fell for the first time in four days against the euro after an Australian report showed companies added six times as many jobs as economists estimated, spurring demand for higher-yielding assets.
