The AUD has opened lower this morning as news out of Europe regarding the financial stability of Spain caused investors to reduce their risky positions as fears about the likelihood global economic recovery persisted.
U.S. representative Barney Frank, a fierce critic of Wall Street and close ally of the Obama administration, will head a House-Senate committee to hammer out a final bill on financial regulation reform.
Top Democratic lawmakers said on Monday they will hold a series of meetings starting in June to discuss proposals to revamp the U.S. communications law as regulators set a course on broadband oversight.
The non-partisan Congressional Budget Office on Monday put the cost of the Federal Reserve's emergency support program for the U.S. financial industry during the 2007-2009 crisis at about $21 billion.
Volatility continued yesterday with the Aussie opening at 0.8320, then hitting an intraday low of 0.8184 before bouncing back to 0.8300 – and this was just the first few hours.
As the United States edges closer to issuing a fresh round of sanctions against Iran, foreign investors so far unmoved by international pressure will end up doing business with a Revolutionary Guard that makes even local firms nervous, an analyst warns.
The European debt crisis drew new cries of alarm on Monday as a top White House adviser warned it could slow a global economic recovery, a European Union official sharply critiqued Germany, and investors worried a Spanish bank bailout could signal further distress.
Sales of previously owned U.S. homes touched a five-month high in April amid a late rush to take advantage of a homebuyer tax credit, but a jump in houses on the market pointed to a slow recovery.
Financing for U.S. housing still lacks private capital, a sign of a very sick system, said David Stevens, Federal Housing Administration commissioner, told a Mortgage Bankers Association convention on Monday.
The regulator for Fannie Mae and Freddie Mac said on Monday the U.S. government-controlled mortgage finance giants will launch a standardized method for lenders to submit information on mortgages, including appraisals, by next year.
U.S. regulators may never know what caused the recent market crash and still have not found evidence trading errors or system malfunctions triggered the brief free fall, top futures markets regulators said on Monday.
Gentiva Health Services Inc agreed to buy Odyssey HealthCare Inc in a $1 billion cash deal, which could make it one of the top players in the U.S. home and hospice care market and spark more consolidation in the space.
There are growing signs of a recovery in the U.S. economy but the high unemployment rate remains a big concern, White House economic adviser Lawrence Summers said on Monday.
Top White House economist Lawrence Summers said on Monday the United States must assure investors it will curb the budget deficit over time, while delivering short-term fiscal stimulus to boost growth.
Campbell Soup Co posted a higher-than-expected quarterly profit as U.S. soup sales rose for the first time in three quarters, but the gain was fueled by increased promotions the company expects to continue.
The European Commission's chief accused Germany on Monday of making naive proposals to combat the euro zone debt crisis, while financial markets took fright after Spain bailed out a small savings bank.
One of the chief architects of U.S. financial reform will chair the House-Senate panel that hammers out the final version of the Wall Street overhaul, a spokesman for the Democratic lawmaker said on Monday.
The Nasdaq gained on Monday after positive broker comments lifted large-cap technology shares, though sustained worries about Europe's banking system restrained the Dow and the S&P 500.
U.S. economic prospects are brightening, although Europe's debt troubles serve as a reminder that the United States must tame its own roaring deficit, economists said in a report on Monday.
In 2006 or even earlier the only way to connect retail clients with the Banking Market was what was used to be called the Retail Dealers or the Retail Aggregators. So, Retail Dealers are market makers to their customers; and they traded on a home sale basis with their banks. Obviously this lead to a lot of problems. The Retail Dealer chooses not to hedge the client's positions but to take the other side of the trade 100% of the times or a significant percent of the times. So they have a conflict...
Sales of previously owned homes rose more than expected in April to a five-month high as buyers rushed to close contracts before the expiry of a homebuyer tax credit.
Stocks mostly fell on Monday as a Spanish government bailout of a local bank refocused attention on Europe's debt crisis, although positive broker comments on some big-cap technology companies boosted the Nasdaq.
