Financial blog
October 7, 2008
French banking giant BNP Paribas will take a 75% stake in the remaining operations of troubled bank Fortis NV, the Belgian government announced Sunday.
Prime Minister Yves Leterme said the deal gives the Paris-based bank control of Fortis’ Belgian and Luxembourg operations, including the bank’s insurance and investment arms. The Belgium and Luxembourg governments also […]
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September 2, 2008
Manufacturing in the U.S. stagnated in August for a second month as weakening domestic demand countered rising exports, economists said before a report today.
The Institute for Supply Management's factory index was unchanged at 50.0, according to the median estimate in a Bloomberg survey before today's report from the Tempe, Arizona- based group. The […]
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July 25, 2008
President Bush dropped his opposition Wednesday to legislation aiming to calm the chaotic housing market despite his objections to a $3.9 billion provision. The House was expected to vote on the bill Wednesday, and it could become law as early as this week.
Under the bill, the government would help struggling homeowners get new, cheaper […]
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July 16, 2008
President Bush on Saturday tried to pin the blame on Congress for soaring energy prices and said lawmakers need to lift long-standing restrictions on drilling for oil in pristine lands and offshore tracts believed to hold huge reserves of fuel.
"It’s time for members of Congress to address the pain that high gas prices […]
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June 11, 2008
JetBlue will purchase the towers once used by Verizon Communications Inc. for its now defunct in-flight calling service, a JetBlue spokesman said Monday.
A Verizon (VZ, Fortune 500) unit, Airfone, operated a network of seat-back phones on several commercial airlines, but shut down that business in 2006, after the spectrum it used was reauctioned by […]
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March 6, 2008
China is fast losing its manufacturing competitiveness in some industries, and companies need to upgrade their operations there to stay profitable, according to a survey released Tuesday.
The study comes amid reports that thousands of manufacturers, both Chinese and foreign, are shifting operations away from coastal regions, where labor and other costs are […]
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March 3, 2008
For owners of small businesses with low, little or no credit, Justine Petersen Housing & Reinvestment Corp. is their last hope.
Clients of the St. Louis nonprofit are entrepreneurs with a conundrum: They’re desperate for small loans to start their companies, buy equipment or pay business bills. Yet banks won’t lend to them. And […]
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February 20, 2008
Business conditions for manufacturers in the state of New York worsened for the fourth straight month, according to the Federal Reserve Bank of New York’s Empire State Manufacturing Survey released Friday.
The regional Fed’s general business conditions index for New York manufacturers tumbled nearly 21 points to -11.7 in February, falling below zero for the […]