23 Mar 2005 08:15 AM

Oil prices have dropped to around $55 a barrel as the US Federal Reserve raised the nation’s key interest rate another quarter-point to 2.75% and signalled that the pace of the tightening can accelerate by the end of the year. It was speculated that the higher US interest rates could slow down the economic growth and bring down

23 Mar 2005 07:52 AM

The US Federal Reserve did not fail analysts’ expectations raising the fed funds rate to 2.75% in a unanimous decision. The statement of the Fed, despite projections, keeps the word «measured», but contains indications as to the possibility of a more aggressive tightening in the future. The Fed sees inflation as mounting in the months to come as policy-makers have made sure that the recovery

22 Mar 2005 08:16 AM

The Federal Open Market Committee is forecast to raise the key US rate by a quarter-point to 2.75% in its statement due at 2:15 p.m. EST today. This move in the Fed funds rate is expected to come as one step in the series of «measured» quarter-point increases that Fed has been following since raising the rates for the first time in June 2004. Now expectations hinge

22 Mar 2005 08:01 AM

Crude oil prices were little changed balancing around the $57 benchmark. The price of oil, based on a package of seven market-monitored crudes hit a record rising for the first time above 50.14 US dollars last week, according to the OPEC report. Saudi

21 Mar 2005 09:45 AM

The dollar reached a two-week high against the euro rising to $1.3214 from $1.3325 on March 18 in New York,on anticipation of a Fed’s projected increase in interest rates and statement by a Hong Kong monetary official. Hong

21 Mar 2005 08:35 AM

Oil prices moved closer to $57 a barrel on Monday on forecasts of strong demand by the IMF and worries about possible supply disruptions in Nigeria, Africa’s largest producer. April

18 Mar 2005 05:26 AM

Congressmen are on the war path against predatory lending and mortgage fraud. On March 16 Congressmen Bob Ney (R-OH) and Paul Kanjorski (D-PA) introduced a bill against abusive mortgage lending practices, competing with the Prohibit Predatory Lending Act of 2005, modeled after a 1999 North Carolina anti-predatory lending law, introduced a week earlier by US Congressional Representatives Brad Miller (D-NC), Mel Watt (D-NC), and Barney Frank (D-MA).

17 Mar 2005 08:52 AM

American International Group Inc.’s new chief executive Martin J. Sullivan, the group’s third-ever leader, has a formidable task ahead. The company’s internal accounting review has discovered that some figures need to be adjusted, according to a person familiar with the matter. The probe was undertaken since AIG was worried that it might get a negative

17 Mar 2005 08:41 AM

Crude futures shot up to rise above $57 a barrel Thursday as even a promise of the Organization of Petroleum Exporting Countries to boost output did nothing to soothe worries of the tight supply. OPEC met in Iran on Wednesday and agreed to increase the cartel’s output quota by 500,000 barrels a day following

16 Mar 2005 11:49 AM

Alan Greenspan backed President Bush’s reform of Social Security in his speech before the he Senate Special Committee on Aging. Reputable Fed boss supports the baisc tenet of the reform, the creation of the private retirement accounts. In his

16 Mar 2005 08:35 AM

Analysts still think AIG’s stock is a buy even though the company’s share price has plunged 13.7% since the announcement of the SEC and New York Attorney General Eliot Spitzer’s probe into the its accounting on Feb. 14.

14 Mar 2005 02:34 PM

German Chancellor Gerhard Schroeder is to introduce measures to stimulate Germany’s stagnant economy. For the present moment the unemployment is rising in Germany amid booming exports and profits at many companies. Mr.

11 Mar 2005 06:07 PM

House and Senate Republicans disclosed competing budget drafts ordering major savings from domestic programs in order to reduce the deficit of recent years while preserving the party’s tax cuts. Following the lead set by President Bush in the budget request he sent Congress last month, both measures are

11 Mar 2005 08:21 AM

The U.S. dollar regained some of the ground it lost in overnight Asian trading Friday as traders realized the greenback could have been oversold.

03 Mar 2005 10:59 AM

U.S. Federal Reserve Board chairman Alan Greenspan spoke yesterday about the state of the US economy, issuing harsh warnings on the menacing budget deficits.