Central Banks in Europe Cut Rates
A wave of interest rates washed over Europe this morning as several central banks issued interest rate cuts. The European Central Bank lowered its rate to 2.5 from 3.25 percent, the Bank of England shaved off a full percentage point to 2 percent, and Sweden’s Riksbank chopped a record 1.75 percentage points. More
Euro Weaker After ECB Rate Cut
The euro is down against the dollar this morning following a rate cut by the European Central Bank which lowered short-term interest rates to 2.5 percent. More
US New Job Claims Less Than Expected
The US Labor Department reported this morning that new job claims for unemployment insurance fell to 509,000 when adjusted for seasonal employment. This was lower than the estimated 537,000 but still represent a 26-year high. More
GM and Chrysler May Consider Bankruptcy
General Motors and Chrysler LLC may both consider a pre-arranged bankruptcy as the final step in securing emergency funding from the US government. More
