The Federal Reserve is likely to keep benchmark interest rates near zero for a while in an economy that is pulling out of a steep decline and appears on course for a very gradual recovery, Fed Vice Chairman Donald Kohn said on Saturday.
The world grouping OECD said on Friday the global economy was out of free fall, offering hope of recovery late this year, but investors focused on risks to the U.S. credit rating from rising government debt.
The Federal Deposit Insurance Corp. on Friday voted to charge U.S. banks a one-time fee of 5 cents per every $100 of assets to rebuild its insurance fund depleted by compensating nationwide bank failures.
Base salaries for banking executives at Morgan Stanley will rise this year as the company sets new compensation policies in the wake of scrutiny over bonuses for the financial services industry, according to Bloomberg.
Stocks fell for a fourth day on Friday on persistent worries about the U.S. budget deficit, with U.S. Treasuries and the dollar losing ground.
President Barack Obama signed Friday a bill restricting credit card practices into law at a White House ceremony in the Rose Garden.
Stocks fell for a fourth day on Friday on persistent worries about the U.S. budget deficit, with U.S. Treasuries and the dollar losing ground.
This is a tough time to be graduating from college. Your student loan bills, averaging over $22,000, are likely to arrive before a job does. And once it does, that job may not come with benefits.
Evercore Partners Inc named BlackRock Inc's co-founder Ralph Schlosstein as its chief executive, replacing Roger Altman, as the boutique bank seeks to diversify from its core advisory business.
Alison Baum of San Antonio, Texas hopes to save money and eat better by getting her hands dirty.
U.S. Federal Reserve Chairman Ben Bernanke told law school graduates on Friday that the recession-mired U.S. economy would recover and to remain optimistic about their job prospects.
Federal Reserve Chairman Ben Bernanke told law school graduates on Friday that the recession-mired U.S. economy would recover and to remain optimistic about their job prospects.
Stocks rose on Friday, breaking a three-day losing streak, as investors sought to benefit from a fall in the dollar by buying shares of multinationals and commodity companies.
Florida-based BankUnited, which was closed by the U.S. government and sold to investors, was conducting business as usual on Friday and there was no sign of panic among customers, its new chief executive said.
Stocks advanced on Friday on hopes that a weaker dollar would increase multinationals' profitability while Moody's reassuring comments eased some concerns about the U.S. credit rating.
Stocks rose on Friday as investors snapped up shares of multinational companies, including McDonald's Corp, on hopes that a weaker dollar would underpin profitability.
MasterCard Inc will lose more than half of a $59 billion portfolio of U.S. debit card users to Visa Inc after JPMorgan Chase & Co shifted more business to its rival, people familiar with the matter told Bloomberg.
Florida-based BankUnited , which was closed by the U.S. government and sold to investors, was conducting business as usual on Friday and there was no sign of panic among customers, its new chief executive said.
Most U.S. banks will repay government bailout funds by the fourth quarter of 2009, and banks will likely issue more stock over the next few quarters, analysts at Morgan Stanley said.
Stocks jumped to session highs on Friday, recovering from an earlier drop, as investors snapped up energy shares and stocks of companies benefiting from a weaker dollar.
Europe's biggest bank HSBC Holdings said business will remain challenging for much of 2010 and it may not keep its U.S. credit card arm if the problems facing the business intensify.
Contraction in world economic output appears to be slowing and a recovery could begin at the end of this year, Organization for Economic Development and Cooperation chief Angel Gurria said on Friday.
On Wednesday, a jury in the United States District Court for the District of Columbia found that the Federal Bureau of Investigation (FBI) discriminated against Jeff Kapche when it refused to hire him as a Special Agent because of his diabetes.
New York state lost 189,000 private sector jobs from August 2008 to April 2009, almost half of the 400,000 jobs created in the five-year economic boom that ended last year, the state labor department said on Thursday.
Stocks headed for a higher open on Friday as reassuring comments from Moody's tempered fears about the credit rating outlook for the United States, while higher oil prices lifted energy shares like Exxon Mobil.
World economic grouping OECD said on Monday the global economy had come out of free fall, offering hope of incipient recovery late this year to investors and markets unnerved by rising U.S. government debt.
Stock index futures rose on Friday as reassuring comments from Moody's eased fears about the credit rating outlook for the United States, and oil prices bounced higher, lifting energy shares like Exxon Mobil.
The pace of contraction in world economic output appears to be easing and recovery could begin at the end of this year, Organization for Economic Development and Cooperation chief Angel Gurria said on Friday.
Oil firmed above $61 on Friday as fundamental support came from consumer nations such as China, the United States and Africa's top producer Nigeria after weeks of equity-led rallies.
Stock index futures pointed to a higher open on Wall Street on Friday, after the previous session's sell-off, with General Motors in focus after sources said Washington has no plans to push the troubled carmaker into bankruptcy.
