04 May 2005 06:21 AM

Federal Reserve meeting led to a quarter-percentage-point increase in Fed funds rate on Tuesday, bringing the rate to 3%, the highest level in three and a half years. Fed followed through with its ’measured’ increases despite an obvious slowdown in the US economy, and in the statement issued after the meeting reiterated its commitment to its "measured" pace of interest rate hikes.

02 May 2005 09:25 AM

George Bush will have to pick a new Federal Reserve chief in the next nine months. The reputable Fed boss Alan Greenspan will retire in January 2006 from the post he has occupied since 1987. The main requirements for Greenspan’s successor will be appeal with the markets, reliability in the eyes of the analysts

29 Apr 2005 09:15 AM

Crude futures edged down on the news of slower US economic growth and rising crude inventories. The bearish trend has brought the prices under $52, but may soon be expected to reverse, as the price may start rising. The U.S. Commerce Department’s revealed a report of 3.1 percent growth rate in the nation’s economy in the

29 Apr 2005 08:51 AM

The Federal Reserve is widely expected to raise interest rates by another quarter-point in its next meeting Tuesday, taking it from 2.75% from 3% in the eighth straight quarter-point rate increase. Fed officials see inflation as a greater threat to the nation than the slowdown in the economy. In the

28 Apr 2005 10:18 AM

Leading private-equity firms Carlyle Group, Texas Pacific Group and Kohlberg Kravis Roberts & Co. have received an unexpected offer from investment bankers from Morgan Stanley and Goldman Sachs Group Inc. that propose to take them public. Private-equity business has always been about the acquisition of a major or controlling stakes in private companies

28 Apr 2005 08:37 AM

June crude futures fell on the NYMEX, holding slightly above $51 a barrel after the US government report soothed worries about a possible supply crunch. June crude fell $0.52 to $51.09 a barrel. "

27 Apr 2005 10:44 AM

Deutsche Bank AG takes the top place in the rankings of the largest foreign-exchange trading banks published in Euromoney magazine’s annual survey, ousting UBS AG from the leading position it occupied last year. Deutsche Bank’s market share stands at 16.7 percent, up from 12.2 percent last year. UBS has also increased

27 Apr 2005 09:03 AM

Oil prices hovered around $54 on Wednesday, with expectations of further slippage after the assurances of Saudi Arabia that it can boost output tapping into spare capacity. June crude oil futures fell $0.03 to $54.17 a barrel. Adel

26 Apr 2005 09:14 AM

Oil prices dropped again on Tuesday as Saudi Arabia promised to put to use its spare capacity if needed. June oil futures fell $0.60 to $53.97 a barrel. The

25 Apr 2005 11:02 AM

Oil advanced on Monday on a spate of refinery disruptions that raised concerns about gasoline supplies this summer. An inflow of speculative funds into the market has brought the crude price close to the all-time high of $58.28 set

25 Apr 2005 09:45 AM

The dollar rose against the yen, departing from a one-month low against the Japanese currency. The move was prompted by the comments from Wei Benhua, Chinese deputy director of the State Administration of Foreign Exchange, who said China will leave the yuan’s peg of 8.28 to the dollar unchanged in the ``short term

25 Apr 2005 09:39 AM

The two major exchanges, NYSE and Nasdaq, have both announced their purchases of electronic trading systems. The New York Stock Exchange will merge with Archipelago, and Nasdaq will buy the electronic trading platform of the Instinet Group. The deals are expected to bring in fresh spirit and new ideas into the once clubby business closed to outsiders.

19 Apr 2005 08:33 AM

Crude prices have edged up above $51 per barrel after the markets digested the news that OPEC announced a plan for an increase in production. May crude oil futures rose $0.69 to $51.06 a barrel. On

19 Apr 2005 08:22 AM

A ’’soft patch’’ that is coming in the world’s economy may induce the US Federal Reserve to restrict its hikes, limiting them to only two or three more rises in the six meeting scheduled for this year, predicts Paul McCulley, a managing director at Pacific Investment Management Co. Pimco manages the largest bond fund in the world. McCulley forecasts the end-of-year Fed funds rate to stand

19 Apr 2005 08:18 AM

The dollar dropped as the markets began to take a dimmer look of the US economic prospects on indications of a possible slowdown in US growth. The euro rose to $1.3020 from $1.2915 on Monday. The dollar fell to 107.30 yen, from $108.25 yen.