(Reuters) - WASHINGTON, April 28 - There is the potential for a downturn in the U.S. economy that could have ripple effects around the world, San Francisco Federal Reserve President Janet Yellen said on Saturday.
The U.S. economy grew modestly in the first quarter but should accelerate in the second half of the year, she said in a speech to the American Academy of Arts and Sciences and the American Philosophical Society.
Read more at Reuters.com Bonds News
Saturday, April 28, 2007
Airbus details job cuts, 4,100 in France: report
(Reuters) - Airbus told employees in a works council meeting on Friday that 2,305 posts would vanish at Airbus France production sites at Toulouse, southwestern France, and 964 jobs would disappear at the company's headquarters, also in Toulouse, Le Monde reported.
Due to the presence of the headquarters, the French city is the most affected by the restructuring, caused by a weak dollar and delays to the A380 superjumbo.
Read more at Reuters.com Business News
Due to the presence of the headquarters, the French city is the most affected by the restructuring, caused by a weak dollar and delays to the A380 superjumbo.
Read more at Reuters.com Business News
UPDATE 1-India ICICI Bank Q4 net below expectations
(Reuters) - The sale, the biggest ever by an Indian firm, will go towards funding various infrastructure and capacity expansions of Indian corporates which are expected to total around $500 billion in the next few years.
The third equity issue in five years by the lender is expected in June, on both the domestic and the U.S. market, boosting the bank's capital adequacy ratio to about 21 percent from 11.7 percent, at the current stock price. Regulations mandate 9 percent.
Read more at Reuters.com Market News
The third equity issue in five years by the lender is expected in June, on both the domestic and the U.S. market, boosting the bank's capital adequacy ratio to about 21 percent from 11.7 percent, at the current stock price. Regulations mandate 9 percent.
Read more at Reuters.com Market News
U.S. Stocks Rise for a Fourth Straight Week; Dow Jones Average Tops 13,000
(Bloomberg) -- U.S. stocks rose for the fourth straight week, sending the Dow Jones Industrial Average above 13,000 for the first time, after profit reports that topped analysts' estimates and a surge in takeovers reinforced speculation that shares are cheap.
3M Co. and Boeing Co. led the Dow average to three straight records after saying first-quarter earnings were buoyed by fast- growing economies abroad. Bids for MedImmune Inc. and Harman International Industries Inc. helped the Standard & Poor's 500 Index extend its best start to any year this decade.
Read more at Bloomberg Stocks News
3M Co. and Boeing Co. led the Dow average to three straight records after saying first-quarter earnings were buoyed by fast- growing economies abroad. Bids for MedImmune Inc. and Harman International Industries Inc. helped the Standard & Poor's 500 Index extend its best start to any year this decade.
Read more at Bloomberg Stocks News
U.S. Treasury's Kimmitt declines dollar comment
(Reuters) - "There is only one person who can speak about the dollar... I will leave it there," he said at a conference in Brussels.
The euro pushed over $1.3680, the highest level since the launch of the common European currency in 1999, after a report showed the U.S. economy grew by just 1.3 percent in the first quarter of the year.
Read more at Reuters.com Business News
The euro pushed over $1.3680, the highest level since the launch of the common European currency in 1999, after a report showed the U.S. economy grew by just 1.3 percent in the first quarter of the year.
Read more at Reuters.com Business News
S. African Rand Gains for Second Week as Inflation Points to Higher Rates
(Bloomberg) -- The South African rand gained for a second week on speculation the yield attraction of local assets will improve, attracting more so-called carry trades.
The currency has gained more than 2 percent in the past two weeks, partly buoyed by speculation inflation at the highest in more than three years will prompt the central bank to raise interest rates. The dollar fell after a report showed the economy grew last quarter at the slowest pace in four years, prompting speculation the Federal Reserve may lower its benchmark rate.
Read more at Bloomberg Currencies News
The currency has gained more than 2 percent in the past two weeks, partly buoyed by speculation inflation at the highest in more than three years will prompt the central bank to raise interest rates. The dollar fell after a report showed the economy grew last quarter at the slowest pace in four years, prompting speculation the Federal Reserve may lower its benchmark rate.
Read more at Bloomberg Currencies News
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