News blog
It seems so easy in the IBM commercial. An underling explains to her pessimistic boss how their company will save millions of dollars with "green" technology.
"Where do I sign?" he asks, as happy music erupts and cartoon animals dance across the screen.
What the ad never mentions is the money he’s going to […]
Filed under: news by Wolf
Comments Off
Pressure is mounting on the Swiss central bank to cut interest rates as a surge in the franc threatens to derail exports, exacerbating the impact of the global financial crisis on Europe's eighth-largest economy.
An 8.7 percent gain in the franc against the euro this month is eroding the value of Swiss exports in […]
Filed under: news by Wolf
Comments Off
Bank of England Governor Mervyn King should be replaced for reacting too slowly to the banking crisis that's helped push the U.K. into recession, the Daily Telegraph newspaper said in an editorial today.
King has been an “invisible man'' since the financial crisis started in August last year, said the paper, Britain's best-selling broadsheet. […]
Filed under: news by Wolf
Comments Off
Treasury Secretary Henry Paulson said Wednesday that financial markets continue to be "strained" but he urged "patience" and said the federal government will use all tools necessary to ensure stability in the financial system.
"We will coordinate the use of our existing and new authorities to restore market confidence by strengthening financial institutions, preventing systemic […]
Filed under: news by Wolf
Comments Off
Federal regulators on Wednesday extended an unprecedented ban against all short-selling in the shares of more than 800 financial companies, keeping it in place at least until after Congress enacts a massive financial bailout plan.
The Securities and Exchange Commission announced the extension of the ban, which was put in on Sept. 18 in a […]
Filed under: news by Wolf
Comments Off
Treasury prices gave up earlier gains Thursday as the stock market clawed its way back into positive territory, and lower oil prices overcame worries about the financial sector.
The benchmark 10-year note fell 1/32 to 103, with its yield hovering around 3.63%.
The 30-year bond rose 5/32 to 104 24/32, with its yield falling to […]
Filed under: news by Wolf
Comments Off
Import-price inflation in Germany, Europe's largest economy, accelerated to the fastest pace in almost eight years in July, led by surging energy costs.
Prices rose 9.3 percent from a year earlier, the Federal Statistics Office in Wiesbaden said today. That's the biggest gain since November 2000. Economists expected an increase of 9.2 percent, the […]
Filed under: news by Wolf
Comments Off
U.S. consumers pared spending in recent weeks as they struggled under the weight of higher food and energy costs, limiting the ability of retailers to raise other prices, the Federal Reserve said on Wednesday.
The Fed’s Beige Book, an anecdotal survey of economic conditions across the country, highlighted the pressures soaring commodity prices have […]
Filed under: news by Wolf
Comments Off
Democrats pushed a $15 billion housing bill through a House committee Wednesday over the objections of Republicans who called it a government bailout.
The measure would send federal loans and grants to cities and counties hit hardest by the housing crisis so they could buy and fix up foreclosed properties. It passed the Financial Services […]
Filed under: news by Wolf
Comments Off
Osborn & Barr, one of the country’s largest agricultural marketing agencies, will move its headquarters to downtown St. Louis from Clayton.
After a yearlong search for new space, the 20-year-old agency has selected the Ballpark Lofts I, Cupples 9 Building. It will be joined by Adamson Advertising, another Clayton-based agency, after the building is […]
Filed under: news by Wolf
Comments Off