President warned financial titans on Monday — the first anniversary of the Lehman Brothers collapse — they could not count on any more bailouts.
U.S. businesses reduced inventories at the wholesale level for a record 11th consecutive month in July, although sales rose by the largest amount in more than a year, according to government data released today.
Fifteen big banks that dominate worldwide trading of derivatives have committed to greater transparency in a $600 trillion market that regulators say needs stricter oversight to protect the global financial system.
The unemployment rate rose to 9.7 percent in August, the highest since June 1983, as employers eliminated a net total of 216,000 jobs.
Fears of inflation because of the Federal Reserve's massive quantitative easing measures are overblown, because the Fed has the ability to pull the liquidity out of the market fast enough to prevent price rises, William Dudley, New York Fed president, told CNBC today.
Another $30 billion in three-month bills were auctioned at a discount rate of 0.150 percent, down from 0.165 percent last week. That rate was the lowest since 0.135 percent on April 30.
Consumer sentiment rose more than expected in August and expectations hit the highest level since the recession began, indications that Americans' pessimism about the economy may be lifting.
Financial services executives believe business conditions will bottom in 2009 before a recovery in the sector and broader economy occurs next year, according to a new study from KPMG LLP.
Health insurer Aetna Inc. will need two years to bring its profit margins back to their former levels, an Oppenheimer analyst said today in a note to client.
