Federal Reserve System
latest news & developmentsOil races above $135, stocks and bonds shudder
Record high oil prices at a barrel deepened worries about inflation on Thursday and weighed on some Asian stocks although Japanese shares ended slightly higher, as dealers…
Manuel: Rand moves linked to dollar
Movements in the rand currency are more likely to be linked to volatility of the United States dollar than other factors, such as recent attacks on migrant workers, South African…
Rand has good chance of strengthening, say analysts
Despite a number of ongoing risks and structural imbalances in South Africa, the rand has a very good chance of strengthening impressively for the rest of this year and into…
Oil retreats from record high in volatile trade
Oil retreated below a barrel on Monday in volatile trade that saw it briefly hit an all-time high earlier in the session. United States light crude, down more than at one point,…
World stocks rally, oil near $120 a barrel
Increasing confidence that the worst of the credit crisis is over boosted world stocks on Monday while inflation concerns grew with oil prices heading towards a barrel. Investors…
Oil sets new record near $120
Oil hit a new record near a barrel on Monday, boosted by a string of bullish factors that include a United Kingdom refinery strike and disruptions to Nigeria’s output that…
Minister blames Bank of England for Northern Rock debacle
Germany’s Finance Minister, Peer Steinbrück, blamed the Bank of England on Friday for the collapse of Northern Rock and the loss of 2 000 jobs, savaging the central bank for not…
Design your own US president
Fed up with the flaws of Barack Obama, Hillary Clinton and John McCain? Here’s your chance to set things right. An innovative website using Wikipedia-like collaborative software…
IMF: World in worst financial crisis since Depression
The United States mortgage crisis has spiralled into ”the largest financial shock since the Great Depression” and there is a one-in-four chance that it will cause a full-blown…
Oil rises on poor US jobs data
Oil prices rose on Monday in Asia as prospects for further cuts in United States interest rates seemed more likely after poor US jobs data at the end of last week. The US Labour…
US job losses deepen as employers cut 80 000 posts
United States employers cut a surprisingly large 80 000 jobs in March, marking the biggest decline in employment in five years, a government report showed on Friday. The…
Bank chief blames rumours for Bear’s collapse
The head of the crisis-hit investment bank Bear Stearns has blamed short sellers and market manipulators for spreading negative financial rumours to induce a collapse of the…
Paulson says China market reforms to continue
China is too far down the road toward a market economy to turn back from reforms now, even if United States financial market turmoil is causing it some qualms, US Treasury…
Commodities: boom or bust?
Gold, oil, diamonds, metals: commodities have been booming. But as prices hit record highs, is the bubble about to burst? Turmoil in financial markets has, some analysts say,…
Obama blasts McCain on economy
Democratic hopeful Barack Obama on Wednesday dismissed Republican White House candidate John McCain’s economic plan as an insult, which left homeowners to face a mortgage crunch…