US Fed sees recovery, but long wait for unemployment dropOctober 14th, 2009 WASHINGTON - The Federal Reserve said Wednesday that economic activity in the US has picked up over the last few months and will continue improving through next year. But the recovery will not be strong enough to lower unemployment, which currently sits at a 28-year high of 9.8 percent, according to minutes of the central bank's last board meeting in September.
Lockhart: No rush for Fed to raise rates, warns of lethargic recoverySeptember 30th, 2009 Lockhart: No rush for Fed to raise ratesWASHINGTON — A Federal Reserve official sees no need to rush to boost interest rates and rein in the extraordinary support for the economy, suggesting there are still dangers to the unfolding recovery. In a speech in Mobile, Ala., Federal Reserve Bank of Atlanta President Dennis Lockhart says: "I think it may well be some time before (a) comprehensive exit need be under way."
In recent days, other Fed officials have raised the prospect of having to raise rates quickly once the economy gains traction to ward off inflation.
Summary Box: Bernanke sees economy nearing a recovery, but financial problems persistAugust 21st, 2009 Summary Box: Bernanke sees economy near recoveryWHAT HAPPENED?: Federal Reserve Chairman Ben Bernanke offered his most optimistic view on the economy since the financial crisis struck. He said there's a good chance the economy will start growing again soon.
Caterpillar sees long-term profitability under various economic scenarios; affirms outlookAugust 4th, 2009 Caterpillar sees long-term profitabilityHeavy equipment maker Caterpillar said Tuesday its cost cuts and strategic planning had positioned the company for long-term profitability whether the global economy improves or remains mired in recession. The world's largest maker of construction and mining equipment affirmed its 2009 forecast and said it expects profit of $8 to $10 per share within five years if the world economy recovers and $2.50 per share annually if the recession continues.
Mexican president sees signs of economic recoveryAugust 4th, 2009 MEXICO - Mexican President Felipe Calderon has said there were signs of recovery of the country's economy, and described the world economic crisis as a perfect storm, Prensa Latina reported Tuesday. Calderon made the comments Sunday and added that despite the fact that the economic crisis has led to a reduction in 10 percent of the gross domestic product, there are already some signs of recovery, such as the creation of 20,000 jobs in June.
China and US officials see global economic recovery, seek continued joint effortsJuly 27th, 2009 China, US officials see global economic recoveryWASHINGTON — Top officials of the United States and China said Monday they saw hopeful signs that the global economy was beginning to move into a period of recovery. Treasury Secretary Timothy Geithner said that the joint efforts of the nations to deal with the financial crisis with large stimulus programs marked a turning point in the relationship of the two economic superpowers.
TNT Post Q2 profit falls 60 percent, sees scant evidence of recoveryJuly 27th, 2009 TNT Post profit down 60 percent in Q2AMSTERDAM — TNT NV, Europe's second-largest post company, reported Monday a 60 percent fall in net profit for the second quarter and said it sees little evidence of an economic recovery. Net profit was euro81 million ($115 million), down from euro205 million in the same period a year earlier and euro5 million better than in the first quarter of 2009.
OECD sees recession nearing bottom, but warns recovery may be weakJune 24th, 2009 Global recession nearing bottom, OECD saysPARIS — The deepest global recession in over 60 years is close to bottoming out, but recovery will be weak unless governments do more to remove uncertainty over banks' balance sheets, the Organization for Economic Cooperation and Development (OECD) said Wednesday. In its half-yearly economic outlook, the Paris-based organization said it expects its member countries' economies to shrink by 4.1 percent this year, with only government rescue measures heading off an even worse decline.
New manager of government's bank bailout program says he sees signs economy is on the mendJune 24th, 2009 TARP chief sees sun peeking through economic stormWASHINGTON — The new manager of the government's $700 billion bank bailout program says he sees signs the economy is on the mend even though high unemployment and falling home prices remain a threat. In prepared testimony for a congressionally appointed panel, Herbert Allison said Wednesday it is critical for the government to remain vigilant and "press ahead" with recovery efforts.
Boeing chief sees aviation recovery from 2010 onwardsJune 15th, 2009 PARIS - Boeing sees a recovery of the aviation market by middle of next year, chief executive Scott Carson predicted Monday at the Paris Air Show. But its not clear how steep the recovery will be, Carson warned at the world's largest aviation exhibition.
China's growth will help recover world economy, says World BankJune 9th, 2009 MONTREAL - World Bank President Robert Zoellick said Monday the Chinese economy is likely to make a strong comeback which will help pull the world economy out of recession. Zoellick made the comments in a question-and-answer session at the ongoing four-day International Economic Forum of the Americas in Montreal.
Glaxo chief sees 'anemic' global economy for 'a while' on tight credit, risk aversionJune 9th, 2009 Glaxo chief sees 'anemic' global economySINGAPORE — The chief executive of GlaxoSmithKline, the world's second-largest drug maker by revenue, said the global economy could remain sluggish for some time as tight credit markets and cautious corporate investment hampers growth. Andrew Witty, Glaxo's CEO, said banks remain leery of lending and companies are still "risk averse" as the impact of a credit crisis that began in the U.S.
Hong Kong economy to stage early recovery with help of Chinese growth, financial chief saysApril 22nd, 2009 HK finance chief sees early economic recoveryHONG KONG — Hong Kong's slumping economy will stage an early recovery as growth rebounds in mainland China, the territory's financial chief said Wednesday. Financial Secretary John Tsang said the global economic crisis remained a "serious threat." But he voiced confidence the government's measures, coupled with rising mainland economic activity as Beijing spends its way to higher growth, will heal the territory's economy faster than expected.
Obama sees US economy moving from recession to recoveryApril 14th, 2009 WASHINGTON - President Barack Obama Tuesday said efforts to take the economy from 'recession to recovery' are 'starting to work', although there was more work to be done to restore growth. The steps taken to re-capitalise banks, strengthen the housing market and rescue the auto sector were 'necessary pieces of the recovery puzzle', he said in an address at Georgetown University in Washington.
Courtney Love sued by top fashion designer for defamationMarch 27th, 2009 WASHINGTON - Top fashion designer Dawn Simorangkir has sued troubled singer Courtney Love for defamation, claiming that the rocker has been trying to ruin her business. Dawn filed a case against Courtney in L.A., claiming that she has been defaming her by spread lies about her on her own website, calling her "an a**wipe nasty lying hosebag thief", among other things, reports Contactmusic.ccording to Dawn, Courtney has been plotting to destroy her, and spreading the false word around that the designer sold cocaine, was a drug addict, a prostitute, a thief, and a "horrible lying bitch."
Dawn is also suing for invasion of privacy, according to TMZ.com.
Loading ...