The recession officially began this past January, NBER tells us. With that out of the way, we can now focus on the burning question: When will it end?There are many clues for pondering the timing of the business cycle. Calling the turning point in advance is never easy, and in fact it's quite a bit harder these days. The magnitude of the economic and financial ills is to blame. In a perfect sto...
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WASHINGTON (Reuters) - The Federal Reserve has ample tools to use to stimulate the economy even with interest rates nearing zero, the head of the St. Louis Federal Reserve Bank said on Tuesday.
The commercial finance firm is upping its capital, hoping to qualify for the coveted bank rescue plan.
What happens if the company that runs my 401(k) goes bankrupt?
The skyrocketing value of commodities sliced into profits at many a corporation in early 2008, as companies suddenly found raw materials costs had doubled or tripled. But anyone who responded to that by trying to hedge against a repeat of that is going to be hit again — this time on the way down. Already, several major corporations have taken hedging-related losses in the third quarter as...
Filed under: Law, Bank of America (BAC), HousingEveryone cheered when Countrywide Financial, owned by Bank of America (NYSE: BAC), agreed to modify loans under a settlement with 11 state attorneys general reached in October.Everyone, that is, except the people who held those mortgages and stood to lose hundreds of millions of dollars as a result of slashed balances and reduced interest rates. S...
The dollar was mixed against major currencies Tuesday as investors scooped up stocks and awaited the expected rate cuts of European central banks later this week.
US banks have rushed to sell bonds backed by the Federal Deposit Insurance Corp
Citigroup, Inc. (NYSE: C) is still in a pinch despite more than a 100% bounce from recent lows, and its still-relatively new CEO is caught right in the middle of a storm he might not escape. This call comes with some mixed emotions because what is obvious is that Vikram Pandit has been trying to make this horrible banking year and this horrible environment as painless for the company's employe...
Citigroup (C )and Bank of America (BAC) led the Dow higher and Liberty Media (LINTA) and Sears Holdings (SHLD) topped the Nasdaq 100 as indexes...