US Trade Deficit Approaches $30 Billion
The Commerce Department announced today that April’s trade deficit was $29.2 Billion. This represents a 2.2 percent increase over March, but is well below last year’s trade deficit as the on-going recession has weakened demand for imports. More
Rising Interest Rates Lowers Demand for Mortgages
Mortgages rates jumped to their highest level this year with the increase in borrowing costs reducing requests for new mortgages. The Mortgage Bankers Association index which measures demand for new mortgages fell 7.2 percent to 611 last week from 658.7 the week before. More
US Supreme Court Allows Chrysler Sale to Fiat
The US Supreme Court has denied a request from a small collection of pension funds to delay the sale of Chrysler to Fiat. More
Canadian Banks Cut Jobs on Lower Profits
Fresh from being named the world’s best financial institutions by the World Economic Forum, Canada’s largest banks have cut 4,000 jobs in the last three months to reduce costs to deal with lower profits. More
