Greek Parliament Narrowly Approves Austerity Measures, Protests Turn Violent

Published on Wed, 06/29/2011 - 09:37
By FNNO Staff in General Interest, approved, business, crisis, debt, finance, greece, investing, market, news, price, share, stimulus, stock, vote, News Update

The measure includes $20 billion worth of cuts in government spending while raising $20 billion through taxes and privatization. The spending cuts will mean heavy layoffs in the public sector, school closures, and restrictions on

The state will also sell off public assets like the postal service and port facilities.

approved, business, crisis, debt, finance, greece, investing, market, news, price, share, stimulus, stock, vote

The Greek parliament today voted narrowly in favor of the unpopular package of austerity measures designed to reign in debt levels and secure the next tranche of aid it needs to avoid default.

By FNNO Staff

Fed Releases Historical Discount Window Data From Financial Crisis

Finding out the exact names and numbers will take some time, as the Fed released 894 individual PDF files totaling over 25,000 pages.

The lending peaked at $111 billion on October 29th, 2008, as credit markets nearly froze in the wake of the bankruptcy of Lehman Brothers.

In the Fed's nearly 100-year history, the central bank has never before released data relating to the discount window.

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The Federal Reserve disclosed today which banks borrowed from its discount window and how much, during the period from August of 2007 to March of 2010.

By FNNO Staff

Honda to Temporarily Cut Production

auto, car, car parts, crisis, disaster, earthquake, factory, honda, japan, manufacturing, motor, nuclear, plant, production cut, tsunami, vehicle

Honda Motor Co. says it will temporarily cut production at its North American auto factories starting Wednesday due to shortages of parts, according to a report by the Associated Press. The AP sites a company statement that indica

By FNNO Staff

UBS Raises Its Target Price For Oracle, Reiterates Buy

Published on Fri, 03/25/2011 - 09:22
By FNNO Staff in General Interest, ORCL, analysis, analyst, buy, crisis, finance, growth, japan, market, news, oracle, stock, ubs, Analyst Insight
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UBS raised its target price for Oracle (NASDAQ:ORCL) to $39 from $36 and reiterated its buy rating on the company, after the company reported better than expected earnings yesterday afternoon and boosted its dividend. The bank als

By FNNO Staff

Fed to Lift Restrictions on Healthy Banks

Published on Fri, 03/18/2011 - 10:55
By Stephanie Shyu in General Interest, axp, jpm, usb, wfc, bank, crisis, dividends, federal, finance, market, news, reserve, restriction, shares, stock, News Update
bank, crisis, dividends, federal, finance, market, news, reserve, restriction, shares, stock

The Federal Reserve is planning to withdraw government oversight on some of the nation's largest banks Friday, reports the Wall Street Journal. After two years of regulation following 2008's crisis, the Fed will now allow financia

By Stephanie Shyu

Japan Insurance Losses Estimated to be $12-25 bln

Eqecat's estimate, which includes damages caused by the earthquake, subsequent tsunami and fires, is below that of competitor AIR Worldwide which estimates losses of $15 billion to $35 billion, not including tsunami-related losses

Worried investors have been selling insurance shares in re

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The destruction sustained in last week's earthquake in Japan will cause insurers to lose between $12 billion to $25 billion, according to an estimate released Wednesday by the catastrophe risk modeling firm, Eqecat, making it one

By Stephanie Shyu

Uranium Producers Slide on Reports China to Suspend New Nuclear Projects

The State Council has also required relevant departments to conduct safety checks at existing plants, Xinhua News Agency said, according to China has 13 nuclear reactors in operation with at least 25 under constru

china, crisis, emergency, energy, japan, marketwatch, nuclear, plant, power, production, reactors, safety, state council, uranium, xinhua news

Uranium producers are lower on reports that China has suspended approval of new nuclear power plants until safety standards can be reviewed and revised in the wake of the ongoing nuclear crisis in Japan, according to reports.

By Stephanie Shyu

Nikkei 225 records one of its largest-ever drops

Many of the losses were due to a rapid sell-off that occurred right as Naoto Kan warned about the radiation risks following the crisis at the Fukushima Daiichi power plant.

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The Washington Post is reporting that Japan's Nikkei 225 recorded one of its largest-ever drops, closing at 8605.15 — down 10.55 percent. Coupled with Monday’s 6.2 percent drop, the index has plummeted nearly 17 points in the

By Stephanie Shyu

Economy Still to Weak to Halt $600 Billion Stimulus Program

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Federal Reserve Chairman Ben Bernanke told Congress that the central bank will press on with its $600 billion stimulus program because of stubbornly high unemployment, but also acknowledged that the bank is keeping a wary eye out

By Christie Duffy

Goldman Exec: Bank Bought Too Many Illiquid Assets Before Financial Crisis - Shares Down Fractionally

The comments came from a conference in Miami hosted by Credit Suisse. Viniar said that Goldman was "buying more illiquid assets than we probably should have."

Goldman shares are down 0.88%, or $1.49, to $167.05.

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Goldman Sachs (GS) shares are down after Goldman Chief Financial Officer David Viniar said the bank bought too many hard-to-sell assets before the financial crisis in 2008, according to Bloomberg.

By Christie Duffy

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