U.S. Stocks Rise After Fed Says Economic Risks Have Diminished By Michael Patterson June 25 (Bloomberg) -- U.S. stocks extended gains, sending the Standard & Poor's 500 Index to its biggest rally in almost two weeks, after the... Read Full Story
Fed Keeps Rate at 2%, Cites `Upside' Inflation Risks (Update2) June 25 (Bloomberg) -- The Federal Reserve left its benchmark interest rate at 2 percent, ending the most aggressive series of rate cuts in two decades, as higher energy costs threaten to boost inflation. ``Although downside risks to growth remain, they appear to... Read Full Story
Venezuela's economy A funny way to beat inflation Hugo Chávez invites the private sector to help him build socialism TO BUILD his promised socialist revolution, Hugo Chávez seems to have concluded that he needs the help of capitalist businessmen. Earlier this month he invited a handpicked group of captains of finance and industry to the presidential palace. He lectured them about the imminent demise of capitalism, but then proceeded to offer them cheap credit and joint ventures to... Read Full Story
Zimbabwe Zimbabwe's tragedy and farce What next after the opposition leader, Morgan Tsvangirai, pulls out of the run-off election? A PROLONGED and orchestrated campaign of state-sponsored violence has finally forced the opposition in Zimbabwe to pull out of the presidential run-off that is scheduled for Friday June 27th. Despite repeating to the last minute that withdrawal would not happen, the Movement for Democratic Change (MDC), led by Morgan Tsvangirai, says it will not take part in “a... Read Full Story
Texas Real Estate Slump Lets Mexicans Take It Back (Update1) June 25 (Bloomberg) -- More than a century and a half after Mexico lost Texas to the U.S., Virgilio Garza wants a piece of it back. A ``Texas for Sale'' sign and cowgirls in... Read Full Story
Warren Buffett Says Sell to Me, Not `Porn Shop,' as Growth Dips By Richard Teitelbaum June 25 (Bloomberg) -- Warren Buffett is in Toronto, fielding questions from a crowd of 300 executives. One asks what makes... Read Full Story
Credit Agricole, Natixis Hit With Losses as Trichet Spurs Rates June 25 (Bloomberg) -- Credit Agricole SA and Natixis SA, France's third- and fourth-biggest banks, suffered losses this month on debt securities after European Central Bank President Jean-Claude Trichet sparked a gain in short-term interest rates... Read Full Story
Barclays to Raise $8.9 Billion to Lift Capital, Invest Overseas June 25 (Bloomberg) -- Barclays Plc, Britain's fourth-biggest bank, plans to raise 4.5... Read Full Story
Treasuries Decline; Fed May Shift Focus to Fighting Inflation June 25 (Bloomberg) -- Treasuries fell on speculation the Federal Reserve may signal after its interest-rate decision today that inflation is a bigger risk to the U.S. economy than slowing growth. The decline pushed 10-year yields up by the most in almost two weeks on expectations the central bank is preparing financial markets for a policy shift. Fed Chairman Ben S... Read Full Story
Oil Declines After Supplies Rise for First Time in Six Weeks June 25 (Bloomberg) -- Crude oil fell more than $4 a barrel after a U.S. government report showed that inventories rose for the first time in six weeks. Inventories gained 803,000 barrels to 301.8 million last week, the Energy Department said. A 1.1 million-barrel drop was forecast by analysts in a Bloomberg News survey... Read Full Story
