The Federal Reserve on Tuesday offered only a cautious nod to the economy's improving prospects as it put a spotlight on lofty unemployment and reaffirmed its commitment to buy $600 billion in bonds.
The White House has cast a wide net in its search for a replacement for outgoing economic adviser Larry Summers with a list that includes Yale University President Richard Levin.
Bank holding companies would not be allowed to dip below the strict capital standards of their federally insured bank units, under a proposal issued by U.S. bank regulators on Tuesday.
The Federal Reserve on Tuesday offered only a cautious nod to the economy's improving prospects as it put a spotlight on lofty unemployment and reaffirmed its commitment to buy $600 billion in bonds.
The Federal Reserve said on Tuesday the economic recovery was still too slow to bring down unemployment, reaffirming its commitment to purchase $600 billion in bonds to stimulate growth and create jobs.
Short-term interest rate futures traders kept expectations the Federal Reserve will wait to hike rates until late 2011, after the U.S. central bank reaffirmed its commitment to provide stimulus to the economy.
The U.S. Federal Reserve is expected to stay in a holding pattern on Tuesday as officials evaluate the recent launch of a huge bond-buying program to boost the U.S. economy and how new fiscal stimulus will help do the job.
Stocks cut gains to end mostly flat after a late-day sell-off on Tuesday as yet another cautious statement from the Federal Reserve on the economy offset strong retail sales data for November.
The U.S. Federal Reserve said on Tuesday the economic recovery was still too slow to bring down unemployment, reaffirming its commitment to purchase $600 billion in bonds to stimulate growth and create jobs.
U.S. investment bank JPMorgan said it does not hold more than 90 percent of copper stock warrants in London Metal Exchange warehouses, but declined on Tuesday to comment on whether it had a smaller position.
U.S. stocks rose on Tuesday after surprisingly strong November retail sales boosted optimism about consumer spending in the holiday shopping season, even as the Federal Reserve issued yet another cautious statement about the economy.
The FT reported that market-making brokerage and bank J.P.Morgan has materially reduced its bets on lower silver prices, citing a person familiar with the matter.
Germany threw its weight on Tuesday behind a potential capital increase by the European Central Bank, saying it would react positively to such a move if the ECB deems it necessary.
Retail sales were stronger than expected in November as consumers stepped up despite the shadow of high unemployment, while producer prices rose, offering further evidence the economic recovery gathered steam in the fourth quarter.
Sales at retailers rose more than expected in November as consumers splurged on clothing and other items at the start of the holiday season and receipts at gasoline stations surged, more evidence the economic recovery gathered steam in the fourth quarter.
The Federal Reserve said on Tuesday it ordered Weststar Financial Services Corp to refrain from paying dividends or otherwise reducing the capital from its main subsidiary, The Bank of Asheville, in North Carolina.
The European Central Bank could decide this week on whether to increase its capital -- giving it a cushion against any losses on its bond purchases -- after Germany threw its weight behind the idea on Tuesday.
Strong November retail sales lifted U.S. stocks on Tuesday on optimism about consumer spending, even as weak sales from electronics bellwether Best Buy showed some specialty retailers could be struggling.
Demand is strong at David Dumas' South Carolina men's clothing store, but after being battered during the past two holiday seasons by the recession and financial market meltdown, he does not want to get too excited.
The British pound strengthened on Tuesday on a higher-than-expected inflation reading for November, with the sentiment also supported by a view that the US Federal Reserve may expand its bond buyback program at its monetary policy later in the day, supplying more dollars into the system.
Thomson Reuters Corp has launched a news service for U.S. publishers and broadcasters in a bid to win business from the Associated Press and CNN.
Dollar Libor rates were steady on Tuesday as Federal Reserve officials met to assess their controversial bond buying program against a backdrop of fresh tax cuts that could lift U.S. economic growth.
Standard & Poor's cut its outlook for Belgian debt to negative on Tuesday, flagging a new risk for money markets as investors weighed prospects of higher borrowing costs for one of the euro zone's most indebted states.
Bank holding companies would have to maintain the same capital levels as their federally insured banking units under a proposal issued by U.S. bank regulators on Tuesday.
Yahoo Inc plans to lay off more than 600 employees as early as Tuesday, two sources familiar with the situation said on Monday.
European Union paymaster Germany said on Tuesday it was willing to give the European Central Bank more capital if needed to help fight a sovereign debt crisis that continues to shake the euro zone.
American Apparel Inc is setting the online bar higher as it launches a deal this week with discount coupon provider Groupon in the UK, other European Union states and parts of Latin America.
Stock index futures were little changed on Tuesday as investors awaited the Federal Reserve's assessment of the economy.
Standard & Poor's rating agency said on Tuesday Belgium's sovereign debt could be downgraded within six months if its inability to form a new government persists and its debt trajectory worsens.
USD/CHF fell below a channel support as concerns of the US Fed expanding its $600 billion bond buyback at a policy announcement later Tuesday. The pair extended its losses to hit its lowest in more than a month early in the day in Europe before recovering partly.
