The dollar gained against most major currencies Thursday as oil _ seen as a shelter against the plunging U.S. currency _ dipped momentarily below $100 for the first time in two weeks. via PR-inside.com
US stocks closed out their best week in nearly two months on the strength of financial shares [File photo]. US stocks jumped overnight capping a tumultuous week on optimism that giving Fannie Mae and Freddie ... via Australian Broadcasting Corporation
Stocks traded sharply higher Thursday after the Federal Reserve said it will make $75 billion in securities to banks next week as part of its ongoing effort to ease the credit crunch. via KIRO-TV Seattle
"Our decision today is a result of the protracted disruption in the capital markets as well as recent actions by the rating agencies"
Commercial and consumer lender CIT Group Inc. said Thursday it tapped its $7.3 billion credit lines to repay debt and finance its commercial lending and is seeking additional funding sources as access to ... via Seattle Post-Intelligencer
"But generally, going forward, you're pretty much going to see bonds be influenced in terms of what happens with equities."
The Canadian dollar tumbled to a two-month low versus the U.S. dollar on Thursday due to a combination of the unwind in commodity prices and a generally stronger greenback. via Globeinvestor.com
"With regard to 2008, including these valuation reductions, Credit Suisse was profitable through the end of February"
Credit Suisse Group on Thursday slashed previously released 2007 profit figures because of an internal investigation into securities valuations and said it doesn't expect to post a profit for the first quarter. via Kentucky.com
Analysis by Jim Rogers of Jim Rogers Holdings; Analysis by Andy Lynch of Schroder Investment Managemeent; Analysis by Manoj Ladwa of Tradindex via ClipSyndicate
"All the pride he has is channeled through the thing that he does brilliantly."
Paul Scofield, the towering British stage actor who won international fame and an Academy Award for the film "A Man for All Seasons," has died. via Modesto Bee
Hopes of another interest rate cut next month have been dampened after Bank of England minutes showed inflation fears at the top of the agenda.
Policymakers on the Bank's Monetary Policy Committee (MPC) voted 7-2 in favour of keeping rates on hold at 5.25% in March, records of their meeting two weeks ago revealed.
Despite fears over the UK economy, activity indicators pointed to 'less of a slowdown than expected', the minutes said.
The committee - which met before the latest bout of stock market turbulence - also expects inflation will rise strongly in coming months as higher household energy bills hit home. Read more
"I think the threat of inflation is as high as it's been since the 1970s. Bernanke and the rest of them have a challenging task to navigate the economy away from recession and at the same time avoid inflation taking root"
Ben Bernanke's juggling act has gotten harder.
The Federal Reserve chairman has been taking extraordinary steps to prevent credit, financial and housing problems from driving the country into a deep recession. At the same time, he faces the danger that the very tonic to brace the sickly economy could bring about another dangerous ailment_ inflation.
And, rare divisions have surfaced among Bernanke and his central bank colleagues about just how aggressive the Fed should be in lowering interest rates to treat the wobbly economy. Read more
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