Archive for September 24th, 2009

Vietnam’s inflation up to 2.4 percent in September (AP)

The government says Vietnam’s inflation rate has increased to 2.42 percent this month from 2 percent in August due to rising garment, health care and education costs.

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Fed may have to hike rates before need clear: Warsh (Reuters)

The U.S. Federal Reserve may have to raise interest rates from their currently ultra-low setting near zero before the need to take action becomes obvious, Fed Board Governor Kevin Warsh said on Thursday.

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Capitol Hill publications lay off 44 from newsroom (AP)

A deal that united two publications focused on Congress and its political battles is sending more reporters and editors to the nation’s unemployment line.

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Drop in home sales, tumbling oil weigh on stocks (AP)

Investors pulled away from stocks after an unexpected drop in home sales and a slide in oil prices fanned worries about the pace of the economy’s recovery.

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State labor officials: Extend benefits for jobless (AP)

Labor commissioners from 18 states urged the U.S. Senate on Thursday to act immediately to extend unemployment benefits for 300,000 people who will exhaust theirs in another week.

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Treasurys rise after strong auction results (CNNMoney.com)

Treasurys rose Thursday after a government debt sale drew strong demand and a weaker-than-expected housing report boosted demand for the safety of U.S. debt.

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Rite Aid posts smaller 2Q loss, cuts forecast (AP)

Rite Aid Corp. on Thursday reported a smaller second-quarter loss than a year ago as it cut expenses, but the nation’s third-largest drugstore operator lowered its expectations for the fiscal year due to the weak economy and high unemployment.

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Fed scales back 2 emergency lending programs (AP)

The Federal Reserve said Thursday it is further scaling back two emergency lending programs as the economy improves. The action comes as the Fed said in a separate report that banks reduced their borrowing under other emergency programs designed to ease the financial crisis.

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Congress to Hold Hearings on Federal Reserve Transparency Act (Business Wire)

WASHINGTON—-Tomorrow, the House Financial Services Committee will hold a hearing on bringing more transparency to the Federal Reserve. This comes after mounting support of a bill meant to shed light on the closely guarded operations of the institution responsible for the United States’ monetary policy.

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U.S. Treasury: fragile markets may need TARP extended (Reuters)

The U.S. financial system remains fragile a year after launching a $700 billion bailout fund and the government may need to extend the program into next year, a senior U.S. Treasury department official said on Thursday.

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