Business News - USA
News
Stocks climb after Fed pledges to hold rates low
(AP)
AP - The stock market continued its steady advance of the past month after the Federal Reserve said it would keep interest rates low to revive the economy.
Italy sees self as resilient to economic collapse
(AP)
AP - As Greece wins at least temporary respite from its debt troubles, will Italy be the next to face a crisis?
February wholesale prices drop 0.6 percent
(AP)
AP - Prices at the wholesale level plunged in February by the largest amount in seven months as a big drop in energy prices offset higher food costs.
Fed boss makes case to keep all banking duties
(AP)
AP - Federal Reserve Chairman Ben Bernanke urged Congress Wednesday to let the Fed keep all of its banking oversight, arguing that information gleaned from that process helps the central bank guide the economy.
Report: Overhaul doesn't reduce tax credits enough
(AP)
AP - Lawmakers' efforts to overhaul the state's complex system of tax credits falls short of the money-saving goals set by Gov. Chet Culver, according to a new report from a liberal think tank.
SEC boss: Agency examining companies
(AP)
AP - The head of the Securities and Exchange Commission confirmed Wednesday the agency is investigating several companies' actions in the run-up to the financial crisis of 2008.
Judge freezes assets of accused account hackers
(Reuters)
Reuters - A U.S. judge froze the assets of Russian hackers who allegedly hijacked online brokerage accounts and then placed unauthorized trades in order to manipulate markets.
Obama says U.S., Ireland see economic stabilization
(Reuters)
Reuters - President Barack Obama said on Wednesday that he and Irish Prime Minister Brian Cowen see signs of economic stabilization on both sides of the Atlantic but more work is needed for job creation.
YRC says March volume up; still on shaky ground
(AP)
AP - YRC Worldwide Inc., one of the country's largest trucking companies, said Wednesday that shipping volume is improving this month after two months of severe winter storms.
Greece may turn to IMF if EU fails to deliver
(AP)
AP - Greece could seek IMF funding to help overcome its debt crisis, if its EU partners do not provide "clear support" next week, government officials said Wednesday.
Moving target: Goal for foreclosure aid in dispute
(AP)
AP - Last year, the message was clear. Now it is murky.
Greek premier refuses to rule out IMF appeal
(AFP)
AFP - Greek Prime Minister George Papandreou on Wednesday refused to rule out an appeal for aid to the IMF, if European backing is insufficient to resolve its debt crisis.
Zara owner's profits rise on strong Asia sales
(AFP)
AFP - Spain's Inditex, Europe's biggest clothing retailer and the company behind Zara, posted Wednesday a rise in profit as strong sales abroad, especially in Asia, offset sluggish domestic demand.
Wells Fargo signs up for loan modification program
(AP)
AP - Wells Fargo & Co. has become the second bank to sign up for a government program to modify second mortgages.
Oil nears $83 as crude supplies grow
(AP)
AP - Oil prices settled near $83 a barrel Wednesday after crude inventories grew less than expected last week, and the stock market rose on the Fed's promise to keep interest rates at record lows.
UAW votes on agreement to shut down Calif. plant
(AP)
AP - The United Auto Workers says employees at California's sole remaining auto plant will likely ratify an agreement to shut down the facility.
When Will Mortgage Rates Go Up?
(BusinessWeek)
BusinessWeek - Over the last several months, I've written a lot about the current state of residential real estate, and the opportunities made available by the combination of lower housing prices and falling interest rates. As we approach the end of this year's residential real estate buying-and-selling season, this is a good time to start thinking about what might lie ahead.