With unemployment likely to hit double digits this year, the Federal Reserve must strike a reassuring message this week: That it stands ready to take further steps to nurse the economy back to health, but also make clear that too much medicine could spur worries about inflation later on.
The Federal Reserve is considering creating a utility to replace the Wall Street banks that handle U.S. repo market transactions, the Financial Times reported on Monday, citing people familiar with the matter.
The FTSE 100 index of leading British shares was down 49.51 points, or 1.1 per cent, at 4,296.42 even though shares of mining company Anglo American PLC surged more than 6 per cent after Xstrata PLC's merger approach, which at current market prices would value a merged company at just over 40 billion pounds.
Morgan Stanley said Monday it has named Carlyle Group executive James Hance Jr. to its board, effective July 1. Hance, 64, is a senior adviser at Carlyle and a former chairman of Carlyle Capital Corp.
Extending its rising streak for the second session, the Bombay Stock Exchange benchmark Sensex today rose over 140 points in opening trade on increased capital inflows by foreign funds, triggered by firming trends in other Asian markets.
U.S. securities regulators on Monday filed civil fraud charges against brokerage firm Cohmad Securities Corp over the Bernard Madoff affair, saying it had solicited client money for the swindler while disregarding facts showing he was operating a scam.
Lowered expectations for the global economy are giving investors more to be wary about.
Goldman Sachs Group Inc is on pace to make record bonus payouts after a robust first half, the Guardian newspaper reported on Sunday.
Jun 22 - Asian stocks edged up but investors remained cautious on Monday, as mergers and acquisitions highlighted regional activity.
Ajay Banga, Citi's senior-most executive in the Asia-Pacific, has put in his papers and will join MasterCard Worldwide as its president and chief operating officer.
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