Archive for February 7th, 2008

Fed’s Fisher adds to warnings on inflation

Thursday, February 7th, 2008

MEXICO CITY - Dallas Federal Reserve President Richard Fisher on Thursday joined a chorus of officials warning that high inflation ties the hands of the United States central bank in its bid to blunt a sharp slowdown in the world’s largegest economy by lowering interest rates.

Senate has deal on economic stimulus plan

Thursday, February 7th, 2008

WASHINGTON - Democrats and Republicans in the United States Senate have reached a deal on an election-year economic stimulus plan that would send government rebate checks to millions of Americans including retirees and disabled veterans.

ARM Google phone platform demo due Monday: source

Thursday, February 7th, 2008

FRANKFURT/LONDON - British chip designer ARM will demonstrate a prototype of Google Inc’s Android mobile phone platform in action next week at the world’s largegest wireless fair, a source close to the company has said.

S&P draws criticism as sets ratings reform

Thursday, February 7th, 2008

NEW YORK/LONDON - Standard & Poor’s unveiled an overhaul of its ratings process on Thursday, responding to widespread criticism of the quality and accuracy of credit ratings.

Oil goes up $1 on colder weather forecasts

Thursday, February 7th, 2008

NEW YORK - Oil rose $1 to over $88 a barrel on Thursday as forecasts for colder weather in the giant United States Northeast heating oil market overcame worries over the economic health of the world’s top consumer.

Fed’s Fisher says United States likely to avoid recession

Thursday, February 7th, 2008

MEXICO CITY - While the United States economy is at a few risk of a slowdown, it will probably avoid a recession, and any downturn is unlikely to be severe, Dallas Fed President Richard Fisher has said on Thursday.

Data suggest economy stagnating

Thursday, February 7th, 2008

WASHINGTON - The housing market has still not reached bottom, the number of workers drawing jobless benefits has hit a 2-1/4-year high and consumers are tightening their purse strings, reports on Thursday showed, suggesting the economy may have screeched to a halt.

Nasdaq, S&P top 1 percent as bargains tempt

Thursday, February 7th, 2008

NEW YORK - Stocks rebounded on Thursday, with gains on the Nasdaq and S&P 500 topping 1 percent as bargain-hungry investors bought shares beaten down by three straight days of declines.