Hot finance and business news.
India joined Brazil, China and Russia in raising borrowing costs to combat inflation, adding to the risk of a slowdown in the world's fastest-growing economies.
The Reserve Bank of India yesterday unexpectedly increased the repurchase rate to 8 percent from 7.75 percent, joining its fellow members of what Goldman Sachs Group Inc. terms the […]
Filed under: economics by Finance Boss
Comments Off
The unemployment rate in Mecklenburg County declined to 5 percent in April from 5.2 percent in March.
In April, 22,803 residents were unemployed among the county's labor force of 454,352, according to the Employment Security Commission of North Carolina.
Unemployment in the Charlotte/Gastonia/Concord area was 5.1 percent, down from 5.3 percent in […]
Filed under: economics by Finance Boss
Comments Off
The Bush administration's tax rebates won't prevent the U.S. economy from stagnating in the second quarter as soaring food and fuel bills hurt consumers, a Bloomberg News survey showed.
“Consumers have gone into the bunkers,'' said Ken Goldstein, an economist at the Conference Board, the New York- based research group that tracks confidence. They […]
Filed under: economics, technology by Finance Boss
Comments Off
Arkansas tax revenues in April hit $697.2 million, up .9 percent compared to a year ago and 2.6 percent above forecast.
Individual income tax collections, which provide the bulk of revenue, were up 8.6 percent to $461.9 million, compared to a year ago.
Gross receipts, the second largest category, were down 14.8 […]
Filed under: economics by Finance Boss
Comments Off
The Bank of Japan will probably keep interest rates on hold this week as policy makers weigh the likelihood of slower growth against faster inflation.
Governor Masaaki Shirakawa and his six colleagues will leave the overnight lending rate at 0.5 percent at the meeting on April 30, according to all 39 economists surveyed by […]
Filed under: economics by Finance Boss
Comments Off
Frontier Airlines of Denver filed for Chapter 11 bankruptcy protection late Thursday. The Denver Business Journal spoke with several airline industry analysts about what Frontier's bankruptcy means for the low-cost carrier.
Standard & Poor's Airline Equity Analyst Jim Corridore, based in New York
What's your view of Frontier filing Chapter 11?
When they filed […]
Filed under: economics by Finance Boss
Comments Off
European services growth slowed in March after the euro rose to a record and the U.S. economic downturn deepened.
Royal Bank of Scotland Group Plc said its index of growth in service industries from banks to airlines fell to 51.6 from 52.3 in February. That's lower than an initial estimate of 51.7 published March […]
Filed under: economics by Finance Boss
Comments Off
Membership in construction industry labor unions in Massachusetts dropped from 20 percent to 16.1 percent last year, the Merit Construction Alliance found.
MCA, an advocate for nonunion contractors, said that according to federal union membership data, 138,358 people were employed in private construction in Massachusetts in Massachusetts. Of those, 22,226, or 16.1 percent, […]
Filed under: economics by Finance Boss
Comments Off
Australia's central bank has an “unenviable'' task to cool the fastest inflation in 16 years just as global economic growth slows, Finance Minister Lindsay Tanner said before next week's policy-setting meeting.
Annual core inflation accelerated to 3.8 percent in the fourth quarter, driven by transport costs and property rentals, a Jan. 23 report […]
Business leaders said they were aghast by the culture of banking and its excesses following revelations that a trader at French bank Societe Generale (SOGN.PA: Quote, Profile, Research) had lost $7 billion through possible fraud.
“It’s something that further damages the image of banking at a time when people are already very concerned about risks,” […]