Arcive of financial news
The International Monetary Fund cleared its chief, Dominique Strauss-Kahn, of any wrongdoing in connection with his relationship with a female employee while faulting him for a “serious error of judgment.''
An investigation by the fund's board “concluded that there was no harassment, favoritism, or any other abuse of authority,'' a statement by the Washington-based […]
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Phoenix freight carrier GlobalTranz is the first tenant signed for the Offices on High Street at CityNorth.
GlobalTranz signed a 6.5-year lease and will occupy almost 9,000 square feet on the fourth floor, situated above ground-level retail and restaurants in the project's first phase, which is opening in November.
The Offices on […]
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Australia's mining boom, stoked by Chinese demand for coal and iron ore, helped boost company profits by the most in more than seven years and narrow the nation's current account deficit from a record.
Company profits advanced 14.3 percent in the second quarter, more than six times the 2.3 percent median estimate of 22 […]
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Investors are starting to switch their bets on Polish interest rates to cuts from increases, on signs economic growth is slowing and inflation is about to peak.
The CHART OF THE DAY shows the three-month Polish Forward Rate Agreement dropped below the three-month WIBOR interbank rate for the first time in more than two […]
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U.S. Treasury Secretary Henry Paulson said there are no plans to inject capital into Fannie Mae and Freddie Mac after the two mortgage companies posted combined losses of $3.12 billion last week.
“We have no plans to insert money into either of those two institutions,'' Paulson said in an interview with NBC's “Meet the […]
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Only about a quarter of the responders to last week's Business Pulse survey are giving more to charities this year.
We ask, "Are you giving as much to charity this year," and 26 percent said more, 23 percent said less, 40 percent said the same amount, 5 percent said they had stopped giving […]
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Construction of U.S. office and retail buildings is poised to fall for the rest of this year and through 2009 on lower demand from tenants, stricter lending standards and rising building costs, the American Institute of Architects said.
Office-building construction likely will drop 3.7 percent this year and 12.3 percent in 2009, the Washington-based […]
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Steel prices could rise even higher after soaring almost 50 percent this year, as raw material costs continue to climb and global demand shows little sign of abating.
Steelmakers have steadily been raising prices, partly to benefit from a strong market after years of decline in the industry, and also to pass on spiraling […]
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Nearly 71/2 months after its chief executive said there were no plans to cut the number of its core retail stores, The Home Depot Inc. announced Thursday that it is shuttering 15 of them amid a slumping U.S. economy and housing market. The move will affect 1,300 employees.
Home Depot also says that it has […]
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India's central bank unexpectedly ordered lenders to set aside more reserves for the second time in less than two weeks to tame runaway inflation.
The Reserve Bank of India raised its cash reserve ratio to 8.25 percent from 8 percent, according to a statement in Mumbai. Nineteen of 20 analysts surveyed by Bloomberg News […]
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