Archive for January, 2008

Fed Cuts Rates By Another 50 Basis Points

The Federal Reserve announced another move to lower borrowing costs on Wednesday, reducing its benchmark interest rate by half a percentage point. (3 mins ago)

Foreclosures Lead to Abandoned Animals

The house was ravaged — its floors ripped, walls busted and lights smashed by owners who trashed their home before a bank foreclosed on it. Hidden in the wreckage was an abandoned member of the family: a starving pit bull. (2 mins ago)

Oil rises on Fed cut expectations

NEW YORK – Oil rose on Monday on expectations OPEC will maintain output levels and the U.S. Federal Reserve will cut interest rates again to help stimulate the economy of the world’s top energy consumer. (13 mins ago)

Reuters Canada Business Summary

TORONTO – Research In Motion has leapt into the retail consumer market with products such as its pink BlackBerry Pearl, a candybar-shaped e-mail phone stuffed with multimedia goodies, exposing itself to shoppers’ fickle tastes and competition from Apple Inc’s iPhone. (1 hour ago)

2007 on Pace to Be Worst Year For Airlines’ On-Time Performance

Almost one in three U.S. airline flights failed to arrive on time in August, the second-worst performance ever for the month, as 2007 stayed on a record pace for delays. (47 mins ago)

Bond Report: Treasurys Turn Lower As Wall Street Continues Rebound

Treasury prices turned lower on Thursday, sending yields higher, as stocks on Wall Street continued a rebound begun in the previous session amid hopes for more cuts in interest rates to boost the economy and of a bail-out for troubled bond insurers. (24 mins ago)

Motorola’s Crumbling Profit

The cell-phone maker reports an 84% drop in fourth-quarter profit and warns the recovery in its handset unit will take longer than expected (7 mins ago)

Asian Markets Fall; Europe Mainly Higher After Us Rate Cut

Toby Anderson January 22, 2008 – 2:10 p.m. LONDON – Jitters about the U.S. economy sent global stock indexes lower again Tuesday before the Federal Reserve’s surprise cut in interest rates. (1 min ago)

Futures plunge on US recession fears

U.S. stock index futures sank in holiday-shortened trading on Monday as fear of a U.S. recession gripped investors, indicating Wall Street was likely to join a global equity markets plunge that may usher in a bear market when trading resumes on Tuesday. (27 mins ago)

Jobless rate higher in Lower Hudson

Last month’s jobless rates in Westchester, Rockland and Putnam counties grew by levels unseen in more than 3 1/2 years. (3 hours ago)