The Fed will hike rates — in 2011
It appears 0% is here for the foreseeable future.
A year ago, the Federal Reserve took its key overnight lending rate, the fed funds rate, down to near 0% for the first time in its history in an effort to keep the economy from falling into depression.
The cheap money meant lower rates for consumers on credit [...]
Dubai debt problems cast shadow over region
DUBAI, United Arab Emirates (AP) — For years, Dubai seemed unstoppable, an oasis of excess boasting indoor ski slopes and manmade islands, the world’s tallest tower and dreams that reached even higher.
Now the bills are coming due, and the emirate’s debt problems are tarnishing a place built on borrowed time and money — and threatening [...]
S&P faces 1,100, searches for catalyst
NEW YORK (Reuters) – U.S. stocks could face difficulty gaining traction this week as the S&P 500 bumps against the 1,100 mark and investors become content to cool their heels rather than risk losing gains made for the year.
With the vast majority of corporate results already reported, market watchers are casting around for the next [...]
Losing to Korea, Japan eyes new tech battlefields
SEOUL/TOKYO (Reuters) – Japan has the technology, but South Korea has the product … and the profits.
In the longstanding rivalry between these two near-neighbor North Asian technology industry heavyweights, the pendulum has swung Korea’s way.
South Korea’s Samsung Electronics (005930.KS: Quote, Profile, Research, Stock Buzz) and LG Electronics (066570.KS: Quote, Profile, Research, Stock Buzz) have wrested [...]
Buffett, Gates tell students worst is behind us
NEW YORK (AP) — Capitalism is still alive and well, say the world’s two richest men, despite lingering shocks from the longest, deepest recession since the Great Depression.
“The financial panic is behind us,” said famed investor Warren Buffett, who recently made what he called an “all-in wager” on the U.S. economy by acquiring railroad Burlington [...]