World Financial News

Here is the latest financial news for your consumption…

American Reporter - DUMMERSTON, Vt. — In his new book, “The Age of Turbulence,” former Federal Reserve chairman Alan Greenspan departed from the Bush Administration’s script and wrote that “the Iraq war is largely about oil.” Of course, Greenspan immediately had to

Housing Mess: Congress to the Rescue?
Wall Street Journal - Congress is tackling a thorny question in the wake of this summer’s subprime woes: How can the government curb mortgage-lending abuses without impeding the housing market? The Federal Reserve underscored the impact of the crisis on the wider economy

European Bonds Drop Most in Almost Two Years on Inflation Views
Bloomberg - Sept. 22 (Bloomberg) — European government bonds fell the most in almost two years this past week after the Federal Reserve’s interest-rate cut rekindled speculation global inflation will quicken. The spread between German two- and 10-year debt

Member of Federal Reserve Board of Governors to speak at UAlbany
MSN MoneyCentral - Federal Reserve Governor — and Albany, N.Y., native — Kevin Warsh is speaking at the state University at Albany’s School of Business Friday. Warsh, 37, is a member of the Federal Reserve’s seven-member Board of Governors. He’ll discuss the future

R.H. Donnelley Sells Bonds; High-Yield Demand Returns (Update2)
Bloomberg - Sept. 21 (Bloomberg) — R.H. Donnelley, the biggest independent publisher of Yellow Pages telephone directories, led the biggest week for junk bond sales since July after the Federal Reserve’s rate cut spurred demand for high-yield, high-risk debt

Not Out of the Woods Yet
Wall Street Journal - For almost two months, financial markets have been embroiled in a bloody war. This past week, an uneasy truce descended, largely because of increasingly generous action by the world’s central banks. Not only did the Federal Reserve cut rates by half

Dollar battered in Europe, Canada
Philadelphia Inquirer - The euro’s ascension renewed calls from French President Nicolas Sarkozy for the European Central Bank to follow the Federal Reserve and cut interest rates, which would help keep French exports competitive. Despite the worries of some exporters