Archive for the 'Forex' category
Treasury Secretary Timothy F. Geithner on Tuesday told a congressional panel considering the future of Fannie Mae and Freddie Mac that the Obama administration would seek to keep in place aspects of the housing-finance system that have worked well during the past few decades as it overhauls the parts that did not.
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Chinese Premier Wen Jiabao has rejected criticism that China is keeping its currency undervalued in order to boost exports.
He said keeping the yuan stable was “an important contribution” to global recovery from the economic downturn. He was speaking at the end of China’s annual parliamentary session.
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Categories: Forex, US Markets, World Economy
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January 17, 2010 10:13 pm
Wall Street bank JP Morgan Chase has reported profits of $3.3bn (£2bn) for the last three months of 2009. That compares with profits of $702m reported at the end of 2008 at the height of the financial crisis.
Total profits for the year were $11.7bn, the bank said, with
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Categories: Bank, Forex, Market News, US Markets
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LONDON (Reuters) – Virgin Money could announce it is buying a small UK bank as early as this month, sources familiar with the situation said, a move that could make it the first high-profile arrival in the sector in Britain since the crisis.
Virgin Money, the consumer credit arm of Richard Branson’s Virgin
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December 25, 2009 11:49 pm
Citigroup says the Abu Dhabi Investment Authority (ADIA) has filed a claim against it seeking to stop a 2007 deal to buy $7.5bn (£4.6bn) worth of stock.If the deal is not blocked, ADIA is asking for damages of more than $4bn.
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Sales of new homes in the US plunged in November, casting fresh doubts on the recovery in the housing market. The Commerce Department said sales fell by 11.3% to a seasonally-adjusted annual rate of 355,000 homes, down from a revised 400,000
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Categories: Forex, Money, US Markets
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November 29, 2009 11:32 pm
The US dollar has hit a 14-year low against the Japanese yen with low interest rates in the US making the greenback less attractive to investors.
The dollar fell to 86.28 yen in early Thursday trading, it’s lowest level since 1995, before recovering to 86.61.
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November 3, 2009 10:18 am
Australia has raised its main interest rate for the second month in a row, to 3.5% from 3.25%. The move by its central bank was not unexpected as the Australian economy was the only one in the developed world to expand in the first half of 2009.
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Categories: Forex, US Markets, World Economy
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Japanese car maker Suzuki Motor has tripled its forecast for full year operating profit, after reporting better-than-expected six-month figures.
Its strength in the Indian market has meant it has performed better than its rivals, which rely more on US sales.
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The price of oil has risen above $81 a barrel, a new high for the year, as hopes rise that the global economic recovery is picking up pace.
US light crude rose to $81.43 a barrel, before slipping back to $80.50. London Brent also climbed before dropping back to $78.82 a barrel.
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Categories: Forex, Market News, US Markets
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