Feeds
China's top bank regulator said Sunday the weakening U.S. dollar and low interest rates are spurring speculation in stocks and property, distorting global asset prices and threatening the global economic recovery.
The head of the European Central Bank on Thursday hinted it could begin withdrawing some of its crisis measures soon, while the Bank of England pumped more money into the economy in an attempt to get Britain out of recession.
The Bank of England said Thursday it will pour another 25 billion pounds ($41 billion) into the British economy to get the country out of recession as it kept its main interest rate at a record low of 0.5 percent.
Australia's central bank raised its key interest rate Tuesday by a quarter percentage point for the second month in a row, declaring the global downturn over and warning that inflation was set to rise.
The Federal Reserve pledged Wednesday to keep a key interest rate at a record low for an "extended period," signaling that the weak economy remains dependent on government help to grow.
Canada's central bank is holding its key interest rate at a record low 0.25 percent and warned that the Canadian dollar's rise threatens to derail the country's recovery.
The European Central Bank on Thursday left its key interest rate unchanged at a record low of 1 percent and indicated it wouldn't raise it in the near future — even as bank president Jean-Claude Trichet said the worst of the recession has passed.
A move by Australia's central bank to raise its benchmark interest rate, the first major economy to do so since the financial crisis worsened last fall, may signal a vote of confidence in a global recovery.
Signaling confidence in a recovery, the Federal Reserve decided Wednesday to stretch out the pace of a program intended to lower mortgage rates and prop up the housing market.
The Bank of England held interest rates steady at a record low of 0.5 percent for the sixth consecutive month on Thursday and pledged to continue its program to boost the money supply despite gathering signs of an economic recovery.
Improving consumer and business sentiment are signs of an economic rebound in the countries using the euro, European Central Bank president Jean-Claude Trichet said Thursday — though he warned any recovery was bound to be uneven.
The Federal Reserve delivered a vote of confidence in the economy Wednesday, saying it would slow the pace of an emergency rescue program and indicating the recession appears to be ending.
The Bank of England surprised markets on Thursday with a significant expansion of its program to boost the money supply and support growth, even as it and the European Central Bank kept official interest rates steady at record lows.
The European Central Bank left its benchmark interest rate unchanged at 1 percent Thursday, preferring to wait and see if its "spectacular" infusion of credit into the banking system will loosen lending to consumers and businesses in the euro zone's struggling economy.
The Federal Reserve sought Wednesday to defuse fears that the trillions it's spending to revive the economy could spark inflation later on. But Wall Street didn't seem to buy it.
Credit card interest rates wavered in the past week, with the lowest rates holding steady while some higher rates dipped.
The European Central Bank and the Bank of England both kept official interest rates at record lows on Thursday, adopting a cautious holding stance amid fledgling signs of an economic recovery across Europe.
The Bank of England kept official interest rates at a record low of 0.5 percent on Thursday and said it would press on with its policy of increasing the money supply — but did not expand that program further.
The Bank of England has kept official interest rates on hold at a record low of 0.5 percent — but has increased its program to buy back assets to increase the domestic money supply.
The European Central Bank cut interest rates a quarter point to 1 percent Thursday and said the reduction wasn't necessarily its last, while announcing still more measures to push money into the 16-country euro zone's financial system and support its economy.
The Federal Reserve said Wednesday it sees signs the recession is easing and that the economic outlook has "improved modestly" since last month.
The Bank of England kept official interest rates on hold on Thursday, closing a series of cut in recent months that have brought rates to a record low of 0.5 percent, saying it would instead continue with its asset-buying program to boost the money supply.
The European Central Bank could further reduce its record-low interest rates, President Jean-Claude Trichet told reporters Thursday, after the benchmark figured was cut by a quarter of a percentage point to 1.25 percent.
With the country sinking deeper into recession, the Federal Reserve launched a bold $1.2 trillion effort Wednesday to lower rates on mortgages and other consumer debt, spur spending and revive the economy.
Europe's two leading central banks cut interest rates to record lows Thursday to boost their recession-mired economies, but as rates near their floor all eyes turned to a radical alternative move by the Bank of England to effectively create new money.
Credit-card rates up before new lawHave you checked the interest rates on your credit cards lately? Odds are they're going way up.
When did credit really start? Who started plastic spending?Is the credit card an American thing started by Americans ? Who started us down the plastic path? Do we actually need credit? If so why ? If you are going to pay double for something why do you need it right now, can't you simply save and buy it later ? What if credit …
American Express Credit Card Theft Cases Taken to Grand JuryInvestigators said one of the suspects got the numbers while working for American Express. This is the second case in less than 90 days where American Express employees have stolen data from the company. It appears they have very lax security internally.
Cost of credit card debt soaring Being in debt is about to get a lot more expensive for millions of Americans.
Bail-Out Bonuses at Banks that Got the Most $ from U.s. - $1 Million a Head...Hundreds and Hundreds of HeadsThousands of top traders and bankers on Wall Street were awarded huge bonuses and pay packages last year, even as their employers were battered by the financial crisis. More Articles
American Express Axes Employee Pension Payments Next 18 MonthsAmerican Express has just announced the suspension of pension contributions for all its UK employees for the following 18 months.The reason that the company gave for suspending payments was a very simple one: they had become unaffordable.
Gov't Spending Shatters Postwar RecordsBut no other year comes close to matching 2009's $3.997 trillion gusher -- a spending binge that's helped put Congress on track for a record $1.8 trillion deficit.
California Sues Over Credit Ratings of SecuritiesMoody's Investors Service, Standard & Poor's and Fitch — "made negligent misrepresentation" to the pension fund, which provides retirement benefits to 1.6 million public employees in California.
Quite Colorful - American Express Black Card HolderHe claims the title "Baron" and obviously flaunts his extravagance, however Richard von Houtman has quite a colorful background as the article outlines Is this a trend concerning the personality type of an individual who holds a Black Card? Bernie Madoff had one, too.
American Express worker's £67,000 spending spree to get revenge on firm 'for ruining his life'This seems to be an unfortunate trend for American Express this week making headlines with disgruntled workers for the plastics giant.
Credit Score Myths DebunkedDon't believe anyone who tells you that credit scores are irrelevant to your financial health. But you also shouldn't't believe that credit scores are any reliable indication of your financial health.
Citi raises credit card rates ahead of new lawexcerpt: ""Citigroup has increased interest rates on up to 15 million U.S. credit card accounts just months before curbs on such rises come into effect, the Financial Times reported citing people close to the situation.
One of my most reliable indicators of what Bungling Ben Bernanke (BBB) is going to do is watching what the banks are doing in regard to their credit cards.
Credit Card Default Rate Hits Record HighThis should have an impact on the credit card stocks this week.
Anti-Semite is Holocaust shooting suspectA law enforcement official said Thursday that James Von Brunn, an elderly white supremacist, is being investigated as the prime suspect in the shooting at the U.S. Holocaust Museum.
Charleston Daily Mail - West Virginia News and Sports - AP Featured News - 1Q credit card delinquency rate jumps 11 percent Credit Card delinquency rate rose to over 11% in the first three months of the year.
Yesterday's Employment rate kicked off an all nighter with investors running to pop the corks on their favorite box of champagne.
U.S. Program to Help Banks Sell Bad Assets Is Halted...some analysts said the banks' reluctance to clean up their balance sheets meant they were merely postponing their day of reckoning. Indeed, some analysts said government policies had made it easier for banks to gloss over their bad loans. More Articles
I use only ONE at the moment. It serves as a debit card as well so I get the best of both worlds when I am travelling. I don't have to use two or three different cards, which also means NO debt as all the money I use comes directly from my account.
Courtney Love Battles With American ExpressI think Courtney is going to give American Express hell.
Op-Ed Columnist Paul Krugman - The Big Inflation ScareSuddenly it seems as if everyone is talking about inflation. Stern opinion pieces warn that hyperinflation is just around the corner.
Posner and Greenspan Square Off on Housing BubbleOne wades into a debate between Richard Posner and Alan Greenspan with more than a little trepidation. Still, I have to disagree with Judge Posner on a substantive point: the power of short term interest rates is not nearly as powerful as he implies.
What Small Business Can Do When Lines of Credit Are TrimmedLast November he received a letter from American Express stating the business' $90,000 line of credit had been cancelled because the entire program had been shut down. Other financial institutions followed suit and essentially hurt the credit worthiness of his business.
Credit Card Reform: Not Good For All"The thing that bothers me," he added, "is that someone with good credit who hasn't missed a payment, is carrying a balance but has been paying it religiously – traditionally that customer was the bread and butter of the industry.
Log In | Register
