United States. Federal Reserve Board
Kerr-McGee, a U.S. oil and gas producer, has agreed to sell its British North Sea oil and gas interests to A.P. Moeller-Maersk and Centrica for $3.5 billion. The company has been undergoing significant changes under pressure from shareholders, including billionaire financier Carl Icahn, who dropped a bid
United States. Federal Reserve Board
The Federal Reserve Board has voted to increase the federal funds rate by a quarter point for the 10th time, raising the rate to 3.5 percent. This decision comes on the heels of a strong job report and growing concerns about inflation. Meanwhile, the World Trade Organization is set
United States. Federal Reserve Board
Stocks in the United States experienced a mixed finish yesterday as the Federal Reserve announced a quarter-percentage-point increase in the nation's benchmark lending rate. The Fed's decision to maintain a "measured" approach to further rate hikes helped ease investor worries, but the market still
United States. Federal Reserve Board
The recent Federal Reserve Bank rate hike has boosted annual yields for money market mutual funds to 2.22%, a 335% increase from 1.51% one year ago, helping the asset class recover from the losses incurred during the series of interest rate cuts between 2002 and 2004. According to
United States. Federal Reserve Board
The Federal Reserve's statement on interest rates provided some relief for investors, with the S&P 500 and Dow Jones industrial average posting modest gains. However, the market's enthusiasm was tempered by concerns over inflation and upcoming economic reports, including the President's State
United States. Federal Reserve Board
The Federal Reserve is expected to continue increasing interest rates for the remainder of the year, despite slow economic growth in recent months. Analysts predict the Fed will raise rates on Wednesday by another quarter-point to 2.5 percent, with many expecting a "measured" pace of increases. Strong
Banking industry
Following the Reserve Bank's announcement of a 1 percentage point rise in official cash rates, the Commonwealth Bank, St George Bank, and Advance Bank swiftly passed on the increase to their home loan customers. Analysts predicted that the banks would ease competitive pressure, with the housing market slowdown
Banking industry
Investors are selling their treasury bill holdings and driving up borrowing costs as concerns over Quebec's political and fiscal situation and Bank of Canada policy continue to grow. The chartered banks raised the prime rate to 7.5 per cent just a week ago, and lenders have followed
Banks (Finance)
Britain's underlying inflation rate fell to 2.2 percent in September, the lowest annual rate since the devaluation of sterling in November 1967, due to cheaper petrol and supermarket price wars. The unexpected fall prompted the Governor of the Bank of England, Eddie George, to soften his hawkish
Banks (Finance)
Bank of Canada Governor Gordon Thiessen has sounded the alarm on the dangers of rising government deficits and debt, warning that they can lead to increased interest rates and economic instability. In a speech to the Halifax Board of Trade, Mr. Thiessen stated that large deficits and accumulating debt can
Banks (Finance)
As the Bank of Canada prepares to make its latest rate announcement, economists are expecting a drop in the central bank's benchmark rate, potentially leading to a round of prime rate reductions by chartered banks. The rate, currently set at 5.64 per cent, could decrease by up
Interest rates
The Reserve Bank of Australia announced a 0.75-percentage-point rise in interest rates, marking the first increase in five years. The move aims to combat inflation in one of the industrialized world's fastest-growing economies. Treasurer Ralph Willis emphasized that the decision was driven by domestic economic needs, rather
