Business News Headline - 23 August, 2008

[logo] Yahoo! News: Business   more  xml  hide  
Last updated: Sat, 23 Aug 2008 22:07:20 EST

Ex-BOE official says Fed rate cuts went too far (Reuters) » Full Story

The Federal Reserve Building is seen in Washington June 25, 2008. (Yuri Gripas/Reuters)Reuters - The Federal Reserve's decision to cut interest rates in response to the U.S. financial market crisis of the past year is a bad mistake that will lead to higher inflation, a former Bank of England official said on Saturday.




View of economy somber from Fed mountain retreat (Reuters) » Full Story

U.S. bills are counted in this undated file photo. (Files/Reuters)Reuters - A towering grizzly bear guards the doorway to the Federal Reserve's annual policy retreat in this Teton Mountain resort, serving a reminder to central bankers of the battle to sooth the credit crunch.




ECB's Trichet says still in market correction (Reuters) » Full Story
Reuters - European Central Bank President Jean-Claude Trichet on Saturday defended central bank responses to the financial turmoil that has roiled global markets for the past year and warned the storm is not over.


[logo] Google News - Business   more  xml  hide  
Last updated: Sat, 23 Aug 2008 22:07:20 EST

Calif. won't probe NY Sen. Schumer over IndyMac - Forbes » Full Story

Earthtimes (press release)

Calif. won't probe NY Sen. Schumer over IndyMac
Forbes - 2 hours ago
AP 08.23.08, 8:34 PM ET California authorities have rebuffed a request to investigate whether Sen. Charles Schumer helped fuel IndyMac Bancorp Inc.'s collapse by expressing concerns about the major mortgage lender's soundness.
Calif. Won't Probe Sen. Schumer Over IndyMac Wall Street Journal
UPDATE 1-California won't investigate NY senator on IndyMac Reuters
New York Times - Los Angeles Times - guardian.co.uk - Newsday
all 135 news articles


What Will Mac ’n’ Mae Cost You and Me? - New York Times » Full Story

Washington Post

What Will Mac ’n’ Mae Cost You and Me?
New York Times - 7 hours ago
By GRETCHEN MORGENSON THE inevitability of a taxpayer-funded bailout of Freddie Mac and Fannie Mae, the hobbled mortgage behemoths, shook investors last week, and shares in both companies plummeted on fears that existing stockholders would be wiped out ...
US Stocks Drop, S&P 500 Ends Three-Week Advance as Banks Fall Bloomberg
Moody's ratings cut latest blow to Fannie, Freddie Washington Post
Austin American-Statesman - CNNMoney.com - Wall Street Journal - TheStreet.com
all 2,190 news articles


Ex-BOE Official Skewers Fed - Wall Street Journal » Full Story

Mirror.co.uk

Ex-BOE Official Skewers Fed
Wall Street Journal - 3 hours ago
By BRIAN BLACKSTONE JACKSON HOLE, Wyo. -- A former Bank of England official on Saturday sharply criticized Federal Reserve Chairman Ben Bernanke's handling of the credit crunch, saying Mr.
Fed Attention to Wall Street `Dangerous,' Buiter Says (Update1) Bloomberg
A Misguided Federal Reserve, or One That Saved the Day? Wall Street Journal Blogs
Reuters - Forbes - Bloomberg - Bloomberg
all 74 news articles


Boeing Drags Its Heels on Air Force Bid - Seeking Alpha » Full Story

Citizen

Boeing Drags Its Heels on Air Force Bid
Seeking Alpha - 5 hours ago
The USAF tanker contract bidding process added yet another wrinkle Friday as Boeing (BA) asked for an extended deadline before it submits a bid to the Department of Defense.
Boeing: More Time Or Else Washington Post
Boeing threatens to pull out of $35 bln tanker race MarketWatch
BusinessWeek - Bizjournals.com - Financial Times - Wall Street Journal
all 612 news articles



[logo] NPR Topics: Business   more  xml  hide  
Last updated: Sat, 23 Aug 2008 22:07:20 EST

'Dr. Doom' Economist's Dire Warnings Proved Right » Full Story
New York University economist Nouriel Roubini was viewed as a professional Cassandra when he warned of a coming housing crisis and a wave of bank foreclosures a couple of years ago. Now officials around the world are seeking his advice since he's been proven right.

New York University economist Nouriel Roubini was viewed as a professional Cassandra when he warned of a coming housing crisis and a wave of bank foreclosures a couple of years ago. Now officials around the world are seeking his advice since he's been proven right.

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Bailout Vow Does Little To Aid Fannie, Freddie » Full Story
Congress' approval last month of a bailout of Fannie Mae and Freddie Mac was meant to reassure anxious investors. It hasn't worked out that way, however. Investors' confidence in the companies is dwindling and there's still much uncertainty over how a bailout will work.

Congress' approval last month of a bailout of Fannie Mae and Freddie Mac was meant to reassure anxious investors. It hasn't worked out that way, however. Investors' confidence in the companies is dwindling and there's still much uncertainty over how a bailout will work.

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[logo] Reuters: Small Business News   more  xml  hide  
Last updated: Sat, 23 Aug 2008 22:07:20 EST

Azure Dynamics to raise C$25 million via placing » Full Story
(Reuters) - Hybrid electric and electric powertrains maker Azure Dynamics Corp said it has opened a private placement to raise up to C$25 million ($23.65 million), sending its shares 17.24 percent higher in London.


Japan's Mizuho to invest in U.S. Evercore » Full Story
TOKYO (Reuters) - Mizuho Financial Group Japan's second-largest bank by assets, said on Thursday it would invest $120 million in U.S. merger advisory firm Evercore Partners marking the latest push by a Japanese financial company into the world's largest economy.


Salesforce shares tumble on concerns about growth » Full Story
BOSTON (Reuters) - Salesforce.com shares plunged as much as 16 percent on Thursday on concerns the business software maker's growth is slowing after its quarterly orders were lower than some investors had expected.



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