Jobless claims rise due to weather-related factors :
WASHINGTON – New claims for unemployment benefits jumped unexpectedly last week, mostly because state agencies processed a backlog of claims caused by snowstorms the previous week.
Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill
WASHINGTON - Federal Reserve Chairman Ben Bernanke told lawmakers Thursday that the central bank is looking into the use by Goldman Sachs and other Wall Street firms of a sophisticated investment instrument to make bets that Greece will default on its debt.
Taxes: Finding the Right Fit
Asset allocation has long been the mantra of financial advisers and smart investors intent on minimizing risk through diversification. Now, with the specter of higher taxes on income, qualified dividends, and long-term capital gains looming in 2011 and beyond, the idea of "asset location" for tax purposes is likely to become equally pervasive. "Location" in this sense means where an asset finds its most suitable home: a taxable account, or a tax-deferred portfolio such as a 401(k) plan or individual retirement account (IRA).
Oil falls 3 percent on recovery concerns
LONDON (Reuters) - Oil fell more than 3 percent on Thursday to $77 a barrel, dragged lower by concerns over the outlook for the European economy and about the pace of U.S. recovery after a surprise jump in U.S. unemployment
EU budget chief to enforce Greek cuts
ATHENS (AFP) - Caught between striking workers and sceptical EU officials, Greece's crisis-hit Socialist government will have to brief the EU's budget chief next week on its plans to tame the country's massive debt.
GMAC stable after latest bailout: US aide
WASHINGTON (AFP) - GMAC, the troubled former finance arm of General Motors, has been "stabilized" since the latest government bailout, a special US adviser told a congressional panel on Thursday.
New-Home Sales At Record Low In Jan.; Bernanke Soothes
New-home sales dived to a record low in January but stocks rallied as Federal Reserve chief Ben Bernanke eased concerns that the central bank will take the economy off life support too soon.
Bernanke spoke to a House panel as the Commerce Department reported new-home sales sank 11.2% to an annualized 309,000, the lowest since records began in 1963. Analysts expected a small gain to 354,000. That stepped up fears that the housing and broader economic revival could stall as the government and Fed end support.
The central bank last week unnerved investors by raising its largely symbolic discount rate on loans to banks. But Bernanke stressed an ultra-low benchmark fed funds rate is still needed to aid a "nascent" recovery.
The Nasdaq and S&P 500 rose 1% while the Dow gained 0.9%.
"He relieved a little apprehension that the punch bowl is going to leave the party ," said James Grefenstette, a senior portfolio manager at Federated Investors.
The Fed has kept the fed funds rate at a record low near 0% and is purchasing over $1 trillion in mortgage securities to bolster housing. But it plans to end those buys in March and has started to wind down other lending programs.
Fixed income a hot area in slow jobs recovery
NEW YORK (Reuters) - A fixed-income trading boom fueled profits across Wall Street last year and is sparking hiring this year, recruiters say, as banks hope for a repeat performance in 2010.
Royal Bank of Scotland loses $5.5 billion in 2009
LONDON - Royal Bank of Scotland Group PLC, government-owned after being bailed out, reported a loss of 3.6 billion pounds for 2009 but beat expectations and said the peak of bad loans from the economic crisis may have passed.
Judge approves SEC-BofA settlement on Merrill deal
NEW YORK - A federal judge said Monday he would reluctantly approve an amended $150 million settlement between the Securities and Exchange Commission and Bank of America to end civil charges accusing the bank of misleading shareholders when it acquired Merrill Lynch.
bussiness news:
Jobless claims rise due to weather-related factors :
WASHINGTON – New claims for unemployment benefits jumped unexpectedly last week, mostly because state agencies processed a backlog of claims caused by snowstorms the previous week.
Taxes: Finding the Right Fit
Asset allocation has long been the mantra of financial advisers and smart investors intent on minimizing risk through diversification. Now, with the specter of higher taxes on income, qualified dividends, and long-term capital gains looming in 2011 and beyond, the idea of "asset location" for tax purposes is likely to become equally pervasive. "Location" in this sense means where an asset finds its most suitable home: a taxable account, or a tax-deferred portfolio such as a 401(k) plan or individual retirement account (IRA).
Oil falls 3 percent on recovery concerns
LONDON (Reuters) - Oil fell more than 3 percent on Thursday to $77 a barrel, dragged lower by concerns over the outlook for the European economy and about the pace of U.S. recovery after a surprise jump in U.S. unemployment
EU budget chief to enforce Greek cuts
ATHENS (AFP) - Caught between striking workers and sceptical EU officials, Greece's crisis-hit Socialist government will have to brief the EU's budget chief next week on its plans to tame the country's massive debt.
GMAC stable after latest bailout: US aide
WASHINGTON (AFP) - GMAC, the troubled former finance arm of General Motors, has been "stabilized" since the latest government bailout, a special US adviser told a congressional panel on Thursday.
New-Home Sales At Record Low In Jan.; Bernanke Soothes
New-home sales dived to a record low in January but stocks rallied as Federal Reserve chief Ben Bernanke eased concerns that the central bank will take the economy off life support too soon.
Bernanke spoke to a House panel as the Commerce Department reported new-home sales sank 11.2% to an annualized 309,000, the lowest since records began in 1963. Analysts expected a small gain to 354,000. That stepped up fears that the housing and broader economic revival could stall as the government and Fed end support.
The central bank last week unnerved investors by raising its largely symbolic discount rate on loans to banks. But Bernanke stressed an ultra-low benchmark fed funds rate is still needed to aid a "nascent" recovery.
The Nasdaq and S&P 500 rose 1% while the Dow gained 0.9%.
"He relieved a little apprehension that the punch bowl is going to leave the party ," said James Grefenstette, a senior portfolio manager at Federated Investors.
The Fed has kept the fed funds rate at a record low near 0% and is purchasing over $1 trillion in mortgage securities to bolster housing. But it plans to end those buys in March and has started to wind down other lending programs.
Fixed income a hot area in slow jobs recovery
NEW YORK (Reuters) - A fixed-income trading boom fueled profits across Wall Street last year and is sparking hiring this year, recruiters say, as banks hope for a repeat performance in 2010.
Royal Bank of Scotland loses $5.5 billion in 2009
LONDON - Royal Bank of Scotland Group PLC, government-owned after being bailed out, reported a loss of 3.6 billion pounds for 2009 but beat expectations and said the peak of bad loans from the economic crisis may have passed.
Judge approves SEC-BofA settlement on Merrill deal
NEW YORK - A federal judge said Monday he would reluctantly approve an amended $150 million settlement between the Securities and Exchange Commission and Bank of America to end civil charges accusing the bank of misleading shareholders when it acquired Merrill Lynch.
Posts
