WILMINGTON, North Carolina - A top Federal Reserve official has said on Tuesday that a weakened United States economy was a largeger worry than higher inflation, suggesting a willingness to lower interest rates further as the central bank tackles “difficult times.”
NEW YORK - Stocks rose for a third day on Tuesday as technology companies gained on IBM’s plans to purchase back $15 billion of its shares and the energy sector advanced on a all time high close for oil in New York.
NEW YORK - The outlook of United States consumers sank to a 17-year low this month as the job market deteriorated, while costly commodities drove producer price inflation in January to its highest in more than 26 years, according to reports that stoked fears of stagflation.
NEW YORK - The outlook of United States consumers sank to a 17-year low this month as the job market deteriorated, while costly commodities drove producer price inflation in January to its highest in more than 26 years, according to reports that stoked fears of stagflation.
WASHINGTON - United States banks and thrifts set aside record amounts of money last year in anticipation of higher loan losses, driving down their earnings, as the housing and credit markets soured, United States regulators has said on Tuesday.
NEW YORK - Moody’s Investors Service on Tuesday ended its immediate threat to cut the top “Aaa” rating of MBIA Inc.’s insurance unit, citing the company’s efforts to strengthen its capital.
NEW YORK - IBM has said on Tuesday its board authorized a $15 billion share purchaseback program that could boost 2008 earnings by up to 5 cents a share, sending its stock up 4.2 percent.
NEW YORK - Stocks jumped on Tuesday after IBM has said it will purchase back $15 billion of its shares, boosting the computer hardware sector, while energy companies’ shares climbed as oil rose past $101 a barrel.