Archive for February, 2008

UK banks write off record ?6.8bn in household debt

Britain’s banks have been forced to write off a record chunk of household debt in the past year in the latest sign that families are struggling to keep up their repayments. (55 mins ago)

Asian Shares Fall, Currencies Mostly Higher; Focus On Oil

SINGAPORE –Asian shares are lower Friday with investors taking their cue from weakness in offshore markets and with crude oil marking record highs of above $103 per barrel. (15 mins ago)

Dollar plunges to new low following negative US outlook

THE dollar plunged to another record low against the euro in early trading yesterday as a flow of bad data on the US undermined the currency. (13 mins ago)

Consumer confidence plunges while wholesale inflation rises at fastest pace in 26 years

WASHINGTON — In more bad economic news, consumer confidence and home prices posted sharp declines while higher costs for such basics as food and energy left wholesale inflation rising at the fastest pace in a quarter-century. (3 mins ago)

Markets stage late rally; IBM to introduced new mainframe today; Lipitor pulls Jarvik ads; woman wins

NEW YORK U.S. stocks rallied Monday, spurred by news that Standard & Poor’s reaffirmed the credit ratings of two key bond insurers whose financial outlook has been at the center of investor anxiety. (45 mins ago)

China Yuan Official Central Parity Rates For Monday

The daily central parity rate for the yuan versus the U.S. dollar is the weighted average of prices given by market makers. The highest and lowest offers are excluded from the calculation. (31 mins ago)

China is losing its edge as a low-cost manufacturing center

SHANGHAI, China The teddy bears selling for $1.40 in Shanghai’s IKEA store may be just about the cheapest in town, but they’re not made in China they’re stitched and stuffed in Indonesia. (1 hour ago)

Peter G. Miller: Stimulus plan will increase limits for conventional, FHA loans

Q: Can you explain the new “economic stimulus” plan and what it will mean for homeowners? (2 hours ago)

The market-friendly mortgage illusion

Reading about financial market developments in the Wild West these days makes me think about Milton Friedman’s famous proposition: ”Inflation is always and everywhere a monetary phenomenon”. (16 mins ago)

Consumer Prices Rise Again In January

WASHINGTON — Consumer prices rose by a bigger-than-expected amount in January, reflecting big increases in the cost of food and health care, the government reported Wednesday. (2 mins ago)