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WASHINGTON – General Electric Co. lost its top credit rating from Standard & Poor's on Thursday over concerns of rising loan losses and lower earnings at its lending arm, GE Capital.
The long-expected ratings cut – down one notch to 'AA ' from 'AAA' – is further proof that the financial crisis has shaken […]
Filed under: economics by Finance Boss
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VIENNA–Oil prices slipped Wednesday after the U.S. Energy Department cut its crude demand forecast for 2009, stalling a two-week rally.
Prices fell despite expectations that OPEC would cut back on production at its weekend meeting in Vienna.
Benchmark crude for April delivery dropped 21 cents to $45.50 a barrel by midday in Europe on […]
Filed under: money by Finance Boss
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Long-term mortgage rates rose a fraction this week, but remain near historic lows.
Freddie Mac’s weekly rate report said 30-year fixed-rate mortgages averaged 5.15 percent this week, up from 5.07 percent last week. A year ago, 30-year mortgages were averaging 6.03 percent.
“Mortgage rates followed bond rates higher this week following reports of continuing jobless claims and […]
Filed under: legal by Finance Boss
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Should we brace for another Great Depression?
No.
The notion is ludicrous. Conditions will forever be such that the economic disaster that helped define the previous century will never happen again.
So why raise the question? Because it has suited the purposes of prominent folks to raise the spectre of a second Great Depression. Stephen Harper […]
Filed under: economics by Finance Boss
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Former U.S. Securities and Exchange Commission member Annette Nazareth has taken herself out of the running to be deputy Treasury secretary, according to people familiar with the matter.
Nazareth, who hadn’t been nominated, was warned that her SEC work would be assailed at Senate confirmation hearings, the people said. Before becoming a commissioner, Nazareth […]
American Airlines (NYSE: AMR), the top carrier at Lambert-St. Louis International Airport, reported Wednesday that it recorded 8.6 billion revenue passenger miles last month, down 13.5 percent from 9.9 billion revenue passenger miles the same month last year.
Revenue passenger miles is the airline industry’s measure of traffic, and it calculates every paying passenger flown per […]
Filed under: economics by Finance Boss
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Federal Reserve Chairman Ben S. Bernanke said policy makers may need to expand aid to the banking system beyond the $700 billion already approved and take other aggressive measures even at the cost of soaring fiscal deficits.
“Without a reasonable degree of financial stability, a sustainable recovery will not occur,” the Fed chairman said […]
Filed under: technology by Finance Boss
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Hawking flimsy $3 headphones and soggy $6 sandwiches isn’t as sexy as piloting a commercial jetliner, but such activities are rapidly becoming a key part of the airline business – particularly as the economic downturn causes carriers to slash advertised fares.
From buy-on-board programs to charging passengers fees for pre-selected seats, airlines are increasingly turning to […]
Filed under: marketing by Finance Boss
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DUBAI – Moving here seemed like a good idea at the time. Craig Ferrie insists he has no regrets, but he is bidding farewell to Dubai just the same.
The Scottish nationalist, British national and former Canadian resident will be returning to Toronto before the end of March, only a year after exchanging the frozen north […]
Filed under: finance by Finance Boss
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