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Banks could very well trip over themselves Monday as they bid on $50 billion in loans in the latest Federal Reserve auction.
But despite this eagerness to accept the government’s "liquidity" injections, banks aren’t significantly increasing their lending, experts said. In fact, some banks seem to be pulling back even further - for example, […]
Filed under: finance by Forest
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Australian business confidence held close to the lowest in more than six years after the central bank raised interest rates and stock markets tumbled.
The sentiment index rose two points to minus 2 in February from January, according to a National Australia Bank Ltd. survey of about 500 companies released in Melbourne today. A […]
Filed under: money by Forest
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Mortgage costs just got cheaper for buyers in high-cost areas.
The size of loans that can be guaranteed by Freddie Mac and Fannie Mae was raised today by the Office of Federal Housing Enterprise Oversight. The new, higher loan limits will stay in effect through the end of the year, allowing the government sponsored enterprises […]
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A key index of manufacturing activity registered a decline in February and its weakest reading in nearly five years, according to a survey of purchasing managers in that sector released Monday.
The Institute for Supply Management’s (ISM) manufacturing index fell to 48.3 from 50.7 in January. Economists were expecting a reading of 48, according to […]
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Adelphia Communications founder John Rigas and his son, Timothy, lost their final appeal Monday of their convictions for fraud that led to the collapse of the nation’s fifth-largest cable television company.
The Supreme Court rejected the appeal without comment. The elder Rigas, 83, is serving a 15-year prison term, while his son, the former chief […]
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Manufacturing in the U.S. shrank at the fastest pace in almost five years and construction spending fell the most since 1994 as the economy moved closer to a recession.
The Institute for Supply Management's factory index dropped to 48.3 in February from 50.7 the previous month, the Tempe, Arizona-based group said today. Fifty […]
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During "volatile" times (i.e., when stocks are sinking), the usual advice from the pundits is to sit tight. If anything, we are told to review our portfolio and, if necessary, rebalance back to our original asset allocation.
"You should develop a strategy based on your personal situation and risk tolerance, then stick with it," […]
Filed under: economics by Forest
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Don’t be alarmed. More than 130 million households will get letters from the Internal Revenue Service beginning next week and it’s good news, not bad.
The letters are part of an extensive outreach effort to make sure people don’t miss out if they are eligible to receive a tax rebate check under the recently passed […]
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