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The Federal Reserve spoke _ and financial markets swung wildly before rallying.
The Dow rose nearly 200 points about an hour after the Fed’s statement was released.
But stocks first sank after the Fed said that economic growth this year has been “considerably slower” than it expected and that it will keep interest rates near their record […]
House Republicans pushed ahead Tuesday toward a vote on legislation that would raise the nation’s debt limit in exchange for trillions of dollars in federal spending cuts and congressional approval of a constitutional amendment requiring a balanced budget.
But with the measure facing a veto threat from the White House, Speaker John Boehner said he was […]
China’s ocean administration has ordered oil companies operating offshore wells to assess risks of accidents following two spills off its east coast in a field operated by American energy giant ConocoPhillips.
The State Oceanic Administration on Friday said offshore oil producers must thoroughly investigate any risks, review their emergency planning and also reassess environmental impact from […]
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The International Monetary Fund urged U.S. lawmakers Wednesday to raise the nation’s borrowing limit. It warned that inaction could lead to a spike in interest rates that would harm the U.S. economy and world financial markets.
The debt limit is the amount the government can borrow to help finance its operations. The United States reached its […]
Americans are going for smaller cars as gas prices march higher.
New models that get 35 mpg or better, including the Chevrolet Cruze, Hyundai Elantra and Ford Focus, led most major automakers to stronger April sales. Even buyers of pickup trucks chose more efficient engines.
The shift to more fuel-efficient cars was good news for Detroit and […]
Asian markets perked up Wednesday, calmed by signs of progress in Japan’s battle to contain a nuclear crisis as its central bank meets to determine what measures are needed to help the country through its worst disaster since World War II.
Japan’s battered Nikkei 225 rose marginally to 9,617.34, with some major exporters clawing back ground […]
Federal Reserve Chairman Ben Bernanke told a group of small-bank executives on Wednesday that the financial overhaul will benefit their institutions because it will level the playing field with the industry’s giants.
Bernanke said it would be important for the banks to adapt to the changing regulatory environment, in remarks prepared for the annual convention in […]
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In the wake of Japan’s nuclear crisis, a Fenton-based pharmaceutical company is exhausting its inventory of a leading medicine used to combat radiation sickness.
Fleming Pharmaceuticals’ shortage of potassium iodide also has sparked questions over the adequacy of the nation’s stockpile of the anti-radiation medicine.
Fleming President Phill Dritsas said in an interview Wednesday that the U.S. […]
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