Warren Buffett“A public opinion poll is no substitute for thought.”
Adlin Sinclair“Success is a welcomed gift for the uninhibited mind.”
Lawmakers press for action on China currency »
(Reuters) – President Barack Obama faced growing congressional pressure on Monday to get tough with China over its currency practices, one day after Chinese Premier Wen Jiabao brushed off accusations that Beijing was undervaluing its currency for an unfair trade advantage.
“The impact of China’s currency manipulation on the U.S. economy cannot be overstated. Maintaining [...]
China denies yuan behind U.S. trade gap »
China denies yuan behind U.S. trade gap
(Reuters) – China on Tuesday shunned mounting U.S. demands for a stronger yuan, saying again that its currency is not the cause of its big trade surplus and vowing to keep the currency stable to shore up exports.
Beijing and Washington appear to be locked in a dialogue [...]
EU executive to put Greek plan to finance ministers »
(Reuters) – The European Union’s executive said on Monday it was ready to propose a framework that could be used to aid Greece, despite signs of continuing reluctance from France and Germany to make concrete commitments.
Ministers were expected to discuss the possibility of providing loan guarantees or bilateral loans to help Athens finance its [...]
Senators wrestle with Fed bank oversight issues »
(Reuters) – The Federal Reserve could retain oversight of large bank holding companies under a scaled-back regulatory reform plan being considered by key senators, but important questions remained unanswered, lobbyists said on Sunday.
In a retreat from a bold proposal to streamline a patchwork bank regulatory system, lawmakers were considering keeping supervision of companies such [...]
EU considers creating IMF-style rescue fund »
(Reuters) – The European Union is considering creating a rescue fund that could herald fundamental changes in the 27-country bloc and bring closer economic cooperation following Greece’s debt crisis.
The idea of a European monetary fund was floated over the weekend by German Finance Minister Wolfgang Schaeuble, who said he favored an institution that commanded [...]
Volcker sees no threat to dollar as reserve currency »
Paul Volcker, the former Federal Reserve chairman who is advising the Obama administration, said the U.S. dollar’s role as the world’s reserve currency is likely not in jeopardy, but warned central bankers to keep a close eye on inflation.
Volcker made the comments about the dollar while speaking CLSA’s AsiaUSA Forum in San Francisco, according [...]
Pepsi gives forecast for ‘11, ‘12; backs ‘10 view »
Pepsi gives forecast for ‘11, ‘12; backs ‘10 view
PEP.N
) backed its outlook for 2010 and said it expects earnings per share to rise at a low-double-digit rate on an constant-currency basis in 2011 and 2012.
The soft-drink maker, which just closed its purchase of bottlers Pepsi Bottling Group and PepsiAmericas Inc, said it [...]
Sen Dodd’s bank super-cop may be doomed: source »
A bold proposal by Senate Banking Committee Chairman Christopher Dodd to set up a single supervisor for U.S. banks looks doomed, said a source familiar with Senate committee discussions on Friday.
The Financial Institutions Regulatory Administration, which Dodd proposed in November, likely will not be included in revised legislation expected to be released next week [...]
Bernanke wants answers on Goldman role in Greece »
U.S. regulators are probing how Wall Street firms like Goldman Sachs (
GS.N
) helped debt-stricken Greece arrange derivatives deals that critics say were used to disguise the size of its budget deficits.
“We are looking into a number of questions related to Goldman Sachs and other companies in their derivatives arrangements with Greece,” Federal [...]
Fed action boosts dollar, hurts commodities, stocks »
Fed action boosts dollar, hurts commodities, stocks
The U.S. dollar rose, commodity prices dropped and stocks fell on Friday after the Federal Reserve unexpectedly lifted an emergency lending rate for the first time since the financial crisis.
U.S. stock futures fell 1.1 percent after the Fed raised its discount borrowing rate by a quarter percentage [...]