Shareholders may have to wait for months to retrieve capital after U.S. regulators told banks not to increase dividends or buy back shares amid political and economic uncertainty surrounding the financial industry, the Financial Times reported on Wednesday.
Executives at JPMorgan Chase & Co (JPM.N) and Goldman Sachs Group (GS.N) have talked in public and to [...]
Archive for the ‘hard money’ Category
Regulators tell banks to restrict dividends, buybacks: report
March 10th, 2010 by HardMoney Writer
Tags: banks, buybacks, credit crisis, economic, financial industry, shareholders, us regulators
more...German bankruptcies up 15.5 pct in December
March 9th, 2010 by HardMoney Writer
German corporate bankruptcies rose in 2009 for the first time in six years, with filings up 15.5 percent on the year in December in the wake of recession, government data showed Tuesday.
The Federal Statistical Office said 2,583 companies filed for bankruptcy protection in the last month of 2009.
The year-on-year increase compared with a smaller 6.9 [...]
Tags: central bank, corporate bankruptcies, german bank, unemployment rate
Iowa economist predicts improvement by summer
March 6th, 2010 by HardMoney Writer
A leading economist who advises Gov. Chet Culver predicted Friday that Iowa’s economy will stay flat for much of the spring but should perk up by summer.
“I think we’re going to get through this,” said Charles Whiteman, a University of Iowa economist who sits on the governor’s Council of Economic Advisers. “I can see light [...]
Tags: businesses, iowa, iowa's economy, leading economist, tax collections
Fed emergency loans decline in most recent week
March 5th, 2010 by HardMoney Writer
Banks borrowed less from the Federal Reserve’s emergency lending program over the past week, providing further evidence that strains in the private credit markets are easing.
The Fed reported that daily borrowing from its emergency loan program averaged $13.77 billion for the week that ended Wednesday. That was down from average borrowing of $13.96 billion in [...]
Tags: banks borrowed, borrowing, central bank's, fed, federal reserve's, financial crisis, interest rate, lending
US private sector sheds 20,000 jobs in February
March 3rd, 2010 by HardMoney Writer
The US private sector shed the smallest number of jobs in two years in February, a payrolls firm said Wednesday in a report signaling a healing labor sector as the economy recovers from recession.
Non-farm private payrolls fell 20,000 in February on a seasonally adjusted basis, payrolls firm ADP said, matching the consensus forecast.
“The February employment [...]
Tags: economy recovers, households, recession, unemployment, us economic, us private sector
January spending increases but income growth slows
March 1st, 2010 by HardMoney Writer
Personal spending jumped by a larger amount than expected in January but Americans’ incomes barely budged. The weak income growth could depress spending in the months ahead, acting as a further drag on the fragile economic recovery.
The Commerce Department said that personal spending rose by 0.5 percent in January, slightly better than expected. But incomes [...]
Tags: americans' incomes, commerce department, economic recovery, personal spending
Eurozone economic sentiment falls in February
February 25th, 2010 by HardMoney Writer
Economic sentiment in the 16 countries that use the euro worsened in February for the first time in nearly a year, the European Commission said Thursday, in a further sign that the recovery from recession has lost momentum.
With sentiment fragile and debt worries mounting across the single currency area, particularly in Greece, the Commission said [...]
Tags: economic recovery, european commission, eurozone economic, eurozone economy, recession
Secondary Sources: Recession Costs, Doomsday Cycle, Commercial Real Estate
February 24th, 2010 by HardMoney Writer
* Who Pays for Recession?:
On Economist’s View, Mark Thoma looks at who pays the cost of recession. “The recession is taking away opportunity for the young to gain employment experience, and many who are employed are working below their abilities in jobs they are likely to get stuck in for many years, if not forever. [...]
Tags: borrowers, commercial real estate, doomsday cycle, financial crisis, recession costs, unemployed
German business confidence drops in February
February 23rd, 2010 by HardMoney Writer
A closely watched survey Tuesday showed German business confidence dropped for the first time in 10 months in February, with the retail sector especially hurt by harsh winter weather.
The Munich-based Ifo institute’s business confidence survey said its business climate index fell to 95.2 points from 95.8 points in January.
“Responsible for this decline is especially the [...]
Tags: business climate, german business, institute's business, public finance
Bernanke, retailers hold key for stocks
February 20th, 2010 by HardMoney Writer
Wall Street could keep rallying after notching its best week this year if Federal Reserve Chairman Ben Bernanke gives a reassuring assessment of the recovery and retail earnings show improvement.
Investors are eager to hear more on the thinking behind the Fed’s surprise move to raise its discount rate, especially because the Fed’s loose monetary policy [...]
Tags: ben bernanke, economic recovery, Federal Reserve, financial sector, us unemployment, wall street