Asian stocks struck a one-month high on Monday as reassurances over the health of the U.S. banking industry sparked a broad recovery in investor appetite for risk, while safe-haven government bonds also gained on hopes for more central bank buying.
Asian stocks struck a one-month high on Monday as reassurances over the health of the U.S. banking sector sparked a broad recovery in investor appetite for risk, while safe-haven government bonds also gained on hopes for more central bank buying.
Federal Reserve chief Ben Bernanke said that the current economic recession could “probably” end this year if the government’s plans to boost the economy work.
Federal Reserve Chairman Ben Bernanke suggested in an interview to air on Sunday that the U.S. recession could last through the year and said the biggest risk was that the political will needed to fix the fractured financial system could be lacking.
Some Federal Reserve insiders are breaking ranks in alarm over action by the U.S. central bank to tackle the credit crisis, but this unusually blunt display of dissent will not force a reversal in policy.
Citigroup Inc Chairman Richard Parsons said on Thursday that the bank does not need any more capital injections from the government and expressed confidence that Citi would remain in private hands.
Bank of America Corp Chief Executive Kenneth Lewis said on Thursday the largest U.S. bank was profitable in January and February and said it should be able to ride out the recession without new help from the nation's taxpayers.
Bank of America Corp's chief executive said on Thursday it would be a nightmare for U.S. banks to be nationalized, wiping out shareholders and perhaps bondholders, and further damaging an economy that might begin to recover as soon as this year.
President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the world's largest economy, according to participants in the latest Wall Street Journal forecasting survey.
The U.S. is telling American International Group Inc it needs to spend less. Under directions from the Treasury, the bailed-out insurance company has a new expense guide for employees, limits on executive pay, and a committee that will oversee the company.
Gone are the days of luxury California hotel retreats for executives of bailed-out U.S. insurance giant American International Group.
U.S. Regulators will consider reviving the uptick restriction on short-sellers of stocks and a top monetary official lent his support on Tuesday to modifying an accounting rule that has forced banks to take billions of dollars in writedowns.
Federal Reserve Chairman Ben Bernanke on Tuesday said leaders from the Group of 20 rich and developing economies should agree early next month on principles to guide nations as they revamp financial rules to prevent future crises.
U.S. stocks posted their best day in four months on Tuesday after Citigroup said it was profitable in the first two months of 2009.
U.S. stocks posted their best day in four months on Tuesday after Citigroup said it was profitable in the first two months of 2009.
The possible return of the uptick restriction on short-sellers of shares and the prospect of changes in an accounting rule that has forced banks to take billions of dollars in writedowns, sent U.S. shares higher on Tuesday.
Stocks rallied strongly on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects the reinstatement of a rule that hinders bets a stock will fall.
Federal Reserve Chairman Ben Bernanke on Tuesday said leaders from the Group of 20 rich and developing economies should agree early next month on principles to guide nations as they revamp financial rules to prevent future crises.
U.S. stocks rose about 5 percent on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects the restoration of a rule that makes it harder to bet that a share's price will fall.
Federal Reserve Chairman Ben Bernanke said on Tuesday regulators must find a way to safeguard the entire financial system and not just its parts to prevent future crises like the one currently engulfing economies around the globe.
Federal Reserve Chairman Ben Bernanke said on Saturday the U.S. central bank would use all of its tools to stabilize financial markets and pull the economy out of recession.
One dollar could buy a cup of coffee, a pack of chewing gum, or a roll of bathroom tissue.
