EU Joins US in Regulatory Changes
Just one day after announcing proposals to overhaul America’s financial regulatory system, the European Union has followed suit. The EU leaders have agreed to establish three new bodies to oversee the banking industry. More
Move to Higher-Yields Hurts Dollar
The dollar was passed by most of the major currencies today as investors buoyed by signs the recession is easing opted for higher yielding currencies. More
Gasoline Futures Fall After Jump in US Reserves
Gasoline for July delivery fell by 6.85 cents to $1.9610 a gallon compared to the current national retail average of $2.69 a gallon. Retail prices have climbed steadily for the past two months but are expected to retreat after the July 4th holiday. More
California Facing Credit rating Cut
Standard & Poor’s placed California on a ratings watch earlier this year and now Moody’s is threatening to cut the state’s rating to near-junk status. California already has the country’s lowest rating and further cuts could harm efforts to issue additional debt. More
