March 5th, 2010
American Railcar Industries saw its fourth-quarter profit rise 39 percent but booked less than half the revenue it saw in the prior year’s quarter as railcar shipments fell.
For the quarter ended Dec. 31, the company reported net earnings of $10.5 million, up from nearly $7.8 million in the fourth quarter of 2008. American Railcar said […]
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February 23rd, 2010
President Obama issued an executive order on Thursday that formally creates a bipartisan fiscal commission, a first step to forcing painful decisions needed to get the U.S. debt load under control.
Raising taxes, cutting spending and reforming Medicare and Social Security are all fair game, and thought to be impossible without the backing of both […]
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January 7th, 2010
The past decade has been brutal for Canadian investors who doggedly held on to the top 500 U.S. stocks.
Even after last year’s government-orchestrated economic recovery, and after tallying up dividends, they would have lost about a third of the money they invested at the end of 1999.
Last year, and the first day of trading this […]
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November 11th, 2009
The chairman of the U.S. Senate Banking Committee introduced a financial regulation reform bill on Tuesday that leaps beyond earlier proposals, calling for new government agencies on financial stability, bank supervision and financial consumer protection.
Senator Christopher Dodd, a Democrat, released the bill after intense closed-door negotiations, raising the ante in a debate over tighter […]
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October 10th, 2009
Canadian employers added jobs for the second straight month in September, and the unemployment rate unexpectedly fell, adding to evidence the U.S.’s largest trading partner is emerging from its recession and raising the likelihood of a central bank rate increase within the next year.
Employment rose by 30,600, Statistics Canada said today in Ottawa. […]
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September 24th, 2009
Chancellor of the Exchequer Alistair Darling said the spending cuts the U.K. Treasury will impose after the election must be “sensible” and “measured,” suggesting he’s reluctant to make major reductions.
“You have to be measured about it,” Darling said in an interview on Bloomberg Television yesterday. “You have to make sure you reduce your […]
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August 12th, 2009
South Korea’s central bank kept its benchmark interest rate unchanged at a record low for a sixth straight month amid “favorable” signs of economic recovery.
Governor Lee Seong Tae and his board left the seven-day repurchase rate at 2 percent in Seoul today, as expected by 12 of 13 economists surveyed by Bloomberg. The […]
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July 17th, 2009
Federal Reserve Chairman Ben S. Bernanke will brief Chinese officials at a summit this month about how the U.S. plans to keep inflation in check over the next few years, according to people advised on the plans.
David Loevinger, a U.S. Treasury official coordinating the meeting, told business lobbyists and lawyers in Washington yesterday […]
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July 9th, 2009
Chancellor of the Exchequer Alistair Darling, aiming to prevent another global financial crisis, may be leaving the biggest decisions on U.K. banking regulations to opposition politicians and bureaucrats in Brussels.
Darling yesterday said he will largely keep in place Britain’s financial architecture, introduced by the Labour government in 1997. He rubber stamped proposals Financial […]
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July 3rd, 2009
Federal Reserve Bank of San Francisco President Janet Yellen said the prospect that policy makers will leave the benchmark U.S. interest rate near zero for the next several years is “not outside the realm of possibility.”
“We have a very serious recession, we have a 9.4 percent unemployment rate,” and inflation possibly falling further […]
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