Oil Falls on Surprise Increase in Gasoline Supply
US crude for July delivery fell to $70.09 a barrel while Brent crude dropped to $69.88 a barrel on news that US gasoline reserves were higher than expected. More
Obama Proposes Overhaul of Financial Regulations
Citing a “culture of irresponsibility” as the major factor that contributed to the ongoing recession, President Barack Obama provided more detail on a plan that gives more power to the Federal Reserve to regulate the entire financial system. More
Dollar Drops on Rate Speculation
The dollar fell against the yen today as speculation grows that the Federal Reserve will not increase rates when the FOMC meets next week. More
Five More US Banks Repay Loans
Five more of the nation’s largest banks – including JPMorgan & Chase – made further payments to payback money they received under the Troubled Asset Relief Program (TARP). More
