Finance time

Federal Reserve officials are likely to bring interest rates down so aggressively over the next few months that they will have to search for fresh tactics to continue easing credit.
The Fed's Open Market Committee will probably reduce the benchmark federal funds rate by half a point next week to 1 percent, the lowest […]

Filed under: finance by John
Comments Off

A hedge-fund swindler accused of faking his own death is not yet competent to enter his long-expected guilty plea for skipping out on a 20-year prison term, his attorney said Tuesday.
A federal judge postponed Samuel Israel III’s hearing until Oct. 22 after defense lawyer Barry Bohrer told him drug therapy is affecting Israel’s "ability […]

Filed under: finance by John
Comments Off

U.S. consumer spending grew at a slower pace in July as the impact of the tax rebates faded and a pickup in inflation eroded Americans' buying power.
Purchases rose 0.2 percent, one-third the pace in June, the Commerce Department said today in Washington, while prices surged the most in 17 years. The Reuters/University of […]

Filed under: finance by John
Comments Off

The biggest increase in prices in almost three years eroded consumers' buying power, reinforcing speculation the Federal Reserve won't raise interest rates in the face of faster inflation and slow growth.
Consumer inflation in June climbed 0.8 percent, the most since September 2005, the Commerce Department said today in Washington. Spending increased 0.6 percent, […]

Filed under: finance by John
Comments Off

The Federal Reserve extended its emergency lending to Wall Street firms through January after policy makers judged that markets are still too weak to go without a backstop from the central bank.
The Fed also plans to give securities dealers options for tapping one of the loan programs to ensure financing through the ends […]

Filed under: finance by John
Comments Off

Work on the downtown arena site is expected to hasten in the coming weeks as a result of the completion of a long-awaited financing package.
The Louisville Arena Authority will hold a special meeting Wednesday and is expected to receive the $360 million in funds it needs to proceed with the construction of a new downtown […]

Filed under: finance by John
Comments Off

Rising food and gas prices dragged down a consumer sentiment measure to its lowest level in nearly 28 years, according to a survey released Friday.
The Reuters/University of Michigan Surveys of Consumers index of fell to 59.8 in May, down from 62.6 in April. Economists had expected the index to decline to 59.5, according to […]

Filed under: finance by John
Comments Off

Centre-left leaders from around the world called on Saturday for urgent reform of global financial institutions to prevent a recurrence of the credit crisis.
About a dozen leaders, brought together by Prime Minister Gordon Brown, issued a communique urging the International Monetary Fund to help develop an effective early warning system to guard against […]

Filed under: finance by John
Comments Off

U.K. house prices rose at the slowest pace in more than a decade in March and consumer confidence was the lowest since 1993, adding to evidence the economy is on course for its weakest performance since the end of the last recession.
Home values climbed 1.1 percent to 179,110 pounds ($359,295) from a year […]

Filed under: finance by John
Comments Off

After losing $1.6 billion in 2007 and watching its U.S. sales plummet in the first two months of this year, Chrysler LLC is taking a drastic new step to right the ship: Requiring all employees worldwide to take a two-week vacation this summer.
Chrysler informed employees of the plan in an e-mail Tuesday that was […]

Filed under: finance by John
Comments Off