Monthly Archives: September 2011

GM sees "minimal" impact on profits from UAW deal (Reuters)

Written on September 28, 2011 by Editor - Business News

DETROIT (Reuters) – Workers represented by the United Auto Workers union approved on Wednesday a four-year labor contract with General Motors Co, the first such deal for the top U.S. automaker since its 2009 bankruptcy. Ratification of the GM deal, … Continue reading →

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BOA, Merrill pledge support for Lehman exit plan (Reuters)

Written on September 28, 2011 by Editor - Business News

NEW YORK (Reuters) – Lehman Brothers Holdings Inc (LEHMQ.PK) unveiled the latest in a string of settlements with major financial creditors, reaching deals with Bank of America Corp (BAC.N) and Merrill Lynch that will reduce the banks’ claims against Lehman … Continue reading →

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Bernanke says Fed would act if inflation falls (Reuters)

Written on September 28, 2011 by Editor - Business News

CLEVELAND (Reuters) – Federal Reserve Chairman Ben Bernanke said on Wednesday the central bank might need to ease monetary policy further if inflation or inflation expectations fall significantly. In his first public remarks since the Fed launched a fresh measure … Continue reading →

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Germany’s Merkel faces biggest test in euro vote (Reuters)

Written on September 28, 2011 by Editor - Business News

BERLIN (Reuters) – German Chancellor Angela Merkel faces a battle for her political survival on Thursday when some of her coalition, worried about throwing good money after bad by bailing out Greece, could humiliate her in a parliament vote on … Continue reading →

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Asian stocks fall on euro crisis fears (Reuters)

Written on September 28, 2011 by Editor - Business News

SINGAPORE (Reuters) – Asian shares and commodities fell on Thursday on growing worries that Europe’s intractable debt problems will plunge the world into a second global financial crisis. Copper fell 3 percent, gold slipped toward $1,600 an ounce to stand … Continue reading →

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Copper breaks key technical level: What it means

Written on September 28, 2011 by Editor - Finance Top Stories

7 hrs ago – CNBC 2:05 Copper has broken a key support level, and that does not bode well for the equity market because the two assets have been positively correlated, with Katie Stockton, MKM Partners. Read More from the … Continue reading →

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EU pushes for global financial trading tax

Written on September 28, 2011 by Editor - Finance Top Stories

A man walks past an electronic stock board of a securities firm in Tokyo, Monday, Sept 26, 2011. (AP Photo/Koji Sasahara) LONDON (AP) — Taxing financial trades has been touted as a panacea for all kinds of global ills, a … Continue reading →

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Unemployment rates fell in majority of US cities

Written on September 28, 2011 by Editor - Finance Top Stories

WASHINGTON (AP) — Unemployment rates fell in roughly two-thirds of U.S. cities last month, despite zero job growth nationwide. The Labor Department said Wednesday that unemployment rates dropped in 237 of the nation’s largest metro areas in August from July. … Continue reading →

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Bernanke: Long-term unemployment a national crisis

Written on September 28, 2011 by Editor - Finance Top Stories

WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke said Wednesday that long-term unemployment is a “national crisis” and suggested that Congress should take further action to combat it. He also said lawmakers should provide more help to the battered housing … Continue reading →

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Stocks drop, led by commodities on economic fear (Reuters)

Written on September 28, 2011 by Editor - Stock Markets News

NEW YORK (Reuters) – Commodity-related stocks drove Wall Street lower on Wednesday as stiff declines in energy and metals prices underscored investor concerns about global economic weakness and Europe’s raging debt crisis. A sharp 7 percent dive in the price … Continue reading →

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