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Archive for 'economics'

Greece Said to Have Arranged Swaps With 15 Banks

February 23, 2010

Greece arranged swap agreements with about 15 securities firms, including some payments from banks that may have helped hide the country’s true deficit, according to a person with direct knowledge of the contracts.
The swaps that allowed Greece to receive payments upfront date from before 2008, when European Union regulators changed rules to limit […]

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Dow gains 100 points as Greek debt fears ebb

February 16, 2010

Stocks rallied Thursday after the European Union’s promise to help debt-ridden Greece eased worries that a default might hurt global markets.
The Dow Jones industrial average (INDU) rose 106 points, or 1%. The S&P 500 index (SPX) gained 10 points, or 1.4% and the Nasdaq composite (COMP) added 29 points, or 1.4%.
Stocks slid in the […]

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Kentucky now taking jobless benefit extension applications

December 3, 2009

The state of Kentucky has begun accepting applications for an emergency extension of unemployment benefits.
President Obama signed the benefits extension into law on Nov. 6. It can provide as much as 14 additional weeks of federally funded benefits to unemployed Kentuckians who have exhausted their 26 weeks of state benefits and all other federally funded […]

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UAE moves to counter Dubai fallout but markets wary

November 30, 2009

The United Arab Emirates offered banks emergency support on Sunday, the first steps to ease fears that a looming debt default by two of Dubai’s flagship firms could derail the global economic recovery.
But the move to inject liquidity into Dubai’s banks by the central bank of the Gulf Arab state, together with promises by […]

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Japan Focusing on Yuan-Yen Rather Than Dollar, Citigroup Says

November 29, 2009

Japanese officials are more likely focused on the exchange rate of the yen versus China’s yuan rather than against the dollar, according to Citigroup Inc., citing the fact that China is Japan’s biggest trading partner.
For this reason the level at which Japanese authorities may intervene to temper the yen’s gain will be at […]

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Economic rebound not as strong

November 27, 2009

Economic growth was weaker in the third quarter than originally reported, according to government data released Tuesday.
The gross domestic product, the broadest measure of the nation’s economic activity, rose at an annual rate of 2.8% in the three months ending in September, according to the Commerce Department’s first revision of the reading. The initial […]

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Blackstone prepares Merlin float for early 2010: source

October 26, 2009

Private equity firm Blackstone is preparing to float theme park operator Merlin Entertainments next year, hoping to take advantage of buoyant equity markets, a source familiar with the situation said.
The U.S. buyout house has called in Citigroup, Goldman Sachs, Deutsche Bank, UBS and Nomura to advise on the initial public offering, which could value […]

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Same 4-bedroom house - wildly different prices

September 26, 2009

Imagine you’re a mid-level executive living in Grayling, Mich., the "Canoe Capital of the World." You’ve received a job offer that pays twice as much in posh La Jolla, Calif., the seaside resort near San Diego.
It sounds like a no-brainer, right? Not only will you earn all that extra money, you’ll be enjoying […]

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Japan keeps interest rates on hold

September 20, 2009

The Bank of Japan upgraded its view on the economy and financial conditions on Thursday, paving the way for a broader debate next month on whether to start phasing out its measures to support corporate funding.
The BOJ also said exports and output were increasing thanks to a recovery in overseas markets, especially in emerging […]

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EPA will scrutinize mining applications

September 13, 2009

The Obama administration on Friday stepped up its efforts to curb environmental damage from surface coal mining, announcing plans to give 79 permit applications in four states additional scrutiny.
The U.S. Environmental Protection Agency said it wants to make certain the proposed mines won’t cause water pollution and violate the Clean Water Act […]

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