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A spike in the cost of gasoline pushed wholesale prices higher in March, a trend that could limit consumer spending in the coming months.
Still, most economists don’t expect that will lead to widespread inflation because businesses are wary of raising prices when most people aren’t getting pay increases.
Gasoline at the wholesale level jumped 5.7 percent […]
European Central Bank President Jean-Claude Trichet indicated the bank still plans to raise interest rates next month, saying he doesn’t want to change his message on the need to contain inflation.
“I have nothing to add, nothing to withdraw,” Trichet told reporters today in Frankfurt when asked if policy makers are still in a posture […]
Filed under: economics, finance by Finance Boss
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There may have been a fundamental safety design problem with the pods that controlled the massive device that failed to stop the Gulf oil spill, federal investigators said Friday as they asked that more testing be done to confirm that.
The U.S. Chemical Safety Board has objected to the government’s decision to halt testing of the […]
Ian Read, the new chief executive of Inc., plans to lower costs by closing labs and reducing research spending by as much as $3 billion as the company faces declining sales of its best-selling drug no checking account payday advance.
Filed under: Small Business, finance by Finance Boss
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President Barack Obama nominated Nobel Prize-winning economist Peter Diamond to the Federal Reserve Board, marking a third try to win Senate approval for the Massachusetts Institute of Technology professor.
The White House announced the renomination to the Fed’s Board of Governors in an e-mailed statement today. The Senate adjourned last month without approving Diamond, 70, […]
Canadian Finance Minister Jim Flaherty said weak U.S. growth, not his country’s strengthening currency, is the biggest threat to Canada’s economic recovery.
Flaherty, the dean of Group of Seven finance ministers, oversees an economy that Pacific Investment Management Co. calls a battleground between the “old normal” and “new normal” forces of the global economy. While […]
China’s auto sales powered ahead in November, jumping 27 percent to 1.7 million vehicles as car buyers rushed to beat expected increases in license plate fees in some cities.
The rebound after a slowdown during the summer pushed sales for the year to 16.4 million vehicles, up 34 percent from the year before, the government-affiliated China […]
President Hugo Chavez said Sunday that he would force privately owned hotels to help shelter tens of thousands of Venezuelans who have left their homes due to floods and mudslides caused by weeks of torrential rains.
“I want the tourism hotels,” Chavez said during a visit to the coastal state of Miranda. He said his government […]
Filed under: finance, management by Finance Boss
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City rejects Arcade plan â Otis Williams, deputy director of the St. Louis Development Corp., said Monday that a city selection committee voted Friday not to accept the $80 million proposal submitted last month by Global Facilities Development for the Arcade Building downtown. Global Facilities, of Encinitas, Calif., had proposed using most of the Arcade […]
Filed under: finance, management by Finance Boss
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If you’re looking to get in on the China growth train, be prepared to stomach the near-term risk.
The Shanghai Composite is down 22% year-to-date with much of the selloff attributed to worries about China’s economy overheating.
However, last week’s news that China’s economy is still growing super-fast — but just a pinch more slowly […]
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