The U.S. economy grew at a 3.2 percent annual rate in the first three months of the year, evidence that the economic recovery continues to plug along but that growth is not accelerating in a way that would bring down joblessness rapidly.
The first-quarter gain in gross domestic product represents a deceleration from the 5.6 percent [...]
Archive for the ‘US Economy’ Category
Economy grows at 3.2% rate in first quarter
April 30th, 2010 by HardMoney Writer
Tags: businesses, economic recovery, economy, financial, global economic, investments, investors, money, unemployment, unemployment rate, US Economy
more...Stocks, Oil Rise on Earnings, Economy as Dollar Declines on Fed
April 29th, 2010 by HardMoney Writer
Stocks rose as companies from Motorola Inc. to Unilever NV reported better-than-estimated earnings and European leaders moved closer to helping Greece. Higher-yielding currencies strengthened after the Federal Reserve pledged to keep interest rates at a record low.
The Standard & Poor’s 500 Index rose 0.7 percent, while the Stoxx Europe 600 Index climbed 1.2 percent at [...]
Tags: Commodities, economy, fed, Federal Reserve, interest rates, investors, stocks rose, US Economy
World Bank Increases Voting Rights for China
April 27th, 2010 by HardMoney Writer
The World Bank announced its passage on Sunday of what it calls a “historic” package of reforms at the end of key meetings of global finance leaders. The package includes a massive increase in capital for the institution, its first in 20 years, and an increase in voting rights of China and other developing and [...]
Tags: China, financial, global economic, Japan Finance, US Economy
Goldman Tops Forecast, With $3.46 Billion in Earnings
April 20th, 2010 by HardMoney Writer
Beset by accusations of securities fraud, Goldman Sachs nevertheless showed Tuesday that it was still very good at what it does best: making money.
Earnings for the Wall Street giant rose 91 percent in the first quarter of 2010, to $3.46 billion or $5.59 a share, up from $1.81 billion or $3.39 a share in the [...]
Tags: businesses, economic recovery, financial, financial crisis, jpm, money, US Economy, wall street
Reliance Buys Marcellus Stake From Atlas for $1.7 Bln
April 9th, 2010 by HardMoney Writer
Reliance Industries Ltd., India’s biggest company by market value, agreed to buy a stake in U.S. Marcellus Shale natural-gas properties from Atlas Energy Inc. for $1.7 billion.
Reliance, led by Indian billionaire Mukesh Ambani, will pay $340 million in cash and will cover $1.36 billion of Atlas’s drilling expenses as part of a joint venture, Moon [...]
Tags: businesses, capital markets, Energy, hard money news, investors
Stocks on the rise
April 5th, 2010 by HardMoney Writer
Stocks rallied Monday as investors returning from the long weekend welcomed last week’s jobs report and the strong launch of Apple’s iPad tablet computer.
The Dow Jones industrial average (INDU) added 33 points or 0.3% after ending the previous session at a new 18-month high. The S&P 500 index (SPX) gained 5 points or 0.4% and [...]
Tags: broker, economy, financial, news, US Economy
Deadline looms to use federal foreclosure money
April 3rd, 2010 by HardMoney Writer
LEHIGH ACRES, Fla. — With a use-it-or-lose-it deadline just months away, communities have spent less than half of $4 billion available under a federal program to redevelop abandoned and foreclosed properties.
Some city, state and county officials say they’ve been stymied by confusing and ever-changing federal rules for the money, awarded in the midst of the [...]
Tags: economy, Federal Reserve, financial, hard money, hard money news, mortgage, US Economy
Oil hits 18-month high, pulling in investors
April 1st, 2010 by HardMoney Writer
The move higher came despite a stronger dollar, which often dampens enthusiasm for commodities, and after news of yet another build in U.S. crude oil inventories. Data showing U.S. jobless claims fell helped fuel the bullish momentum as fund buying of commodities was supported by optimism over the economic outlook.
U.S. crude for May delivery rose [...]
Tags: economy, investors, oil, US Economy
Federal Reserve pulls plug on mortgage purchases: How much could rates rise?
March 31st, 2010 by HardMoney Writer
The Federal Reserve will stop buying mortgage-backed securities today, and experts can’t agree on whether interest rates will rise as a result of the move.
When the financial crisis hit, investors stopped buying mortgages pooled together and bundled into mortgage-backed securities. The Fed stepped in and began buying them, forcing interest rates to drop and stimulating [...]
Tags: central bank, economy, Federal Reserve, financial, mortgage
Moody’s downgrades Greek banks, long slump feared
March 31st, 2010 by HardMoney Writer
Moody’s credit rating agency downgraded five Greek banks on Wednesday, saying their finances will suffer from the effects of the country’s public debt crisis — including painful austerity measures and a long recession.
The credit rating agency said the outlook on the banks — National Bank of Greece, EFG Eurobank Ergasias, Alpha Bank, Piraeus Bank and [...]
Tags: borrowing costs, credit rating, debt crisis, financial crisis, greek banks, recession
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