Posts Tagged ‘Business’
US Real Estate
July 1st, 2010 • Business
Tags: Business, Russian spy
Russian Spies Had U.S. Real Estate Connections. The FBI arrested 11 alleged Russian spies this week. They had been operating as a gang for 10 years – but all the FBI has charged them with, so far, is money laundering and failing to register as foreign agents. Two of them had connections with legitimate real estate organizations in the U.S. and the United Kingdom, according to FBI and court files that are growing daily in Washington and New York. Read more »
Disappointing jobs report
June 4th, 2010 • Business
Tags: Business
Disappointing jobs report. Stocks accept confused afterwards the government said hiring charcoal anemic and Hungary became the latest European country to address its abridgement is in crisis. Read more »
Bank of Canada
June 1st, 2010 • Business, Headlines
Tags: Business
The Bank of Canada Tuesday became the first Group of Seven monetary authority to raise interest rates since the credit crisis, but said any further increases would have to be weighed carefully against domestic and global economic developments.
The bank raised its benchmark overnight rate by 0.25 percentage point to 0.50%. The rate had been at a record low 0.25% since April 2009.
The highly anticipated decision underscores the bank’s dilemma as it weighs a strong domestic economy against concerns about the impact of the euro-zone debt crisis on a global economic recovery that it acknowledged to be “increasingly uneven” across countries.
The bank said “considerable” monetary stimulus is still in place.
“Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments,” the bank said in its interest-rate statement.
The widely expected rate hike is the bank’s first since July 2007 and the first under the watch of Governor Mark Carney, who took over the top job in February 2008. The bank also re-established normal functioning of the overnight market, including reverting to a 0.50 percentage point operating band for the rate.
The Canadian dollar was little changed immediately after the rate decision was published at 9:00 a.m. EDT. The U.S. dollar was quoted at C$1.0490 from C$1.0492 just before the release.