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Daily Dispatches
NY Fed chief says low rates are needed for some time
Submitted by cpowell on Thu, 2008-03-06 17:15 Section: Daily DispatchesBy Pedro Nicolaci da Costa
Reuters
Thursday, March 6, 2008
http://www.reuters.com/article/ousiv/idUSNAT00378020080306
NEW YORK -- The U.S. central bank may need to keep interest rates low for some time if extreme stresses in financial markets persist, threatening the economy, New York Federal Reserve President Timothy Geithner said.
Hawkish ECB dashes hopes for cutting interest rates
Submitted by cpowell on Thu, 2008-03-06 17:11 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Thursday, March 6, 2008
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/06/bcnecb...
The European Central Bank has dashed hopes for an interest rate cut in coming months, defying mounting calls from across the political and economic spectrum for monetary stimulus to head off a sharp slowdown.
Dollar still stronger than it might be, IMF says
Submitted by cpowell on Thu, 2008-03-06 17:03 Section: Daily DispatchesBy Lesley Wroughton
Reuters
via The Guardian, London
Thursday, March 6, 2008
http://www.guardian.co.uk/feedarticle?id=7363541
WASHINGTON -- The euro's rise has put it on the "strong side" on a medium-term basis but the U.S. dollar's value still needs to come down despite its recent decline, the International Monetary Fund said on Thursday.
With inflation rising, European central banks hold rates steady
Submitted by cpowell on Thu, 2008-03-06 10:07 Section: Daily DispatchesBy Matt Moore and Jane Wardell
Associated Press
via Yahoo News
Thursday, March 6, 2008
http://news.yahoo.com/s/ap/20080306/ap_on_bi_ge/europe_interest_rates;_y...
FRANKFURT, Germany -- The European Central Bank and Bank of England took similar paths Thursday by leaving their benchmark interest rates unchanged, but analysts expect cuts in the coming months.
Italy intervenes in bond market as spreads soar
Submitted by cpowell on Wed, 2008-03-05 21:46 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Thursday, March 6, 2008
http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/mone...
When gold breaks $1,000, what then?
Submitted by cpowell on Wed, 2008-03-05 21:34 Section: Daily DispatchesBy Frank Tang and Steve James
Reuters
Thursday, March 6, 2008
http://in.reuters.com/article/businessNews/idINIndia-32321120080305?rpc=...
NEW YORK -- Should the the price of gold burst through the $1,000-per-ounce barrier, which it nearly did on Wednesday, experts predict it could reach higher records and even double this year.
U.S. dollar still goes far ... filling wheelbarrows in Zimbabwe
Submitted by cpowell on Wed, 2008-03-05 14:05 Section: Daily DispatchesZimbabwe Currency Tumbles
to Record 25 Million to US$1
By Angus Shaw
Associated Press
via Yahoo News
Wednesday, March 5, 2008
http://biz.yahoo.com/ap/080305/zimbabwe_money.html?.v=1
HARARE, Zimbabwe -- The Zimbabwe currency tumbled to a record low of 25 million for a single U.S. dollar Wednesday, currency dealers said.
Citigroup and other banks seen needing more Arab capital
Submitted by cpowell on Wed, 2008-03-05 00:28 Section: Daily DispatchesBy Will McSheehy and Matthew Brown
Bloomberg News Service
Tuesday, March 4, 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNX6cgef1EvM
DUBAI -- Banks and securities firms led by Citigroup Inc. may need more money from Arab states as losses stemming from the collapse of the U.S. subprime mortgage market increase, the head of Dubai International Capital said.
Euro bond spreads hit record as panic grips markets
Submitted by cpowell on Wed, 2008-03-05 00:17 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, March 5, 2008
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/05/cnbond...
Investors sold Italian and Greek debt yesterday in signs of near panic liquidation, driving bond spreads to the highest level since creation of the single currency.
Ron Paul easily wins Republican renomination to Congress
Submitted by cpowell on Wed, 2008-03-05 00:06 Section: Daily DispatchesBy The Associated Press
via Killeen (Texas) Daily Herald
Tuesday, March 4, 2008
http://www.kdhnews.com/news/story.aspx?s=23564
DALLAS -- Republican Ron Paul didn't get many votes for president in his home state, but he easily won the primary nomination for his congressional seat.
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