Banks Blog

Greece is a financial basket case, begging for international help. Is America heading down that same road? Many of the same risky financial practices that now imperil the Greeks were at the center of the all-too-recent U.S. meltdown.

U.S. wholesale inventories fell unexpectedly in January and sales hit their highest in more than a year, suggesting businesses will soon need to begin restocking, which would support economic growth.

The Labor Department on Wednesday said that unemployment rates rose in 30 states in January, as jobs remain scarce across the country.

A total of 30 states and Washington, D.C., reported rising unemployment rates in January, down from the number in the previous month, according to a government report released Wednesday.

France’s prime minister said Wednesday that a proposed European Monetary Fund is an interesting idea that should be examined quickly. Both he and Germany’s leader made clear they see no danger of it clashing with the IMF.

Grocery chain Trader Joe’s is considering coming to Portland. The company has applied to the federal government to purchase the former Wild Oats Market store on Marginal Way. The Federal Trade Commission is seeking comment on the proposal.

NEW YORK—-Fitch Ratings has affirmed the long-term Issuer Default Rating of First National of Nebraska, Inc. at ‘BB+’ and the short-term IDR at ‘B’. The Rating Outlook remains Negative.

House Democratic leaders announced Wednesday that they will ban the much-criticized practice of using annual spending bills to direct pet projects to for-profit companies that often return the favor with campaign contributions.

Stocks are continuing their slow trek higher after the government’s report of a drop in companies’ inventories during January.

A University of Connecticut economist says the state was not hurt as badly by the recession as elsewhere. Professor Steven Lanza said Wednesday that because Connecticut did not have what he called a home building frenzy that occurred in other states it was spared the worst of the downturn.