Economy
Greek Strikes to Paralyze Athens as Papandreou's Deficit Drive Challenged Prime Minister George Papandreou’s
drive to get Greece’s ballooning budget under control will be
challenged in the streets today as striking labor unions shut
down schools, hospitals and flights.
Summers Says He's Optimistic Congress Will Pass Bill to Boost Job Growth White House economic adviser Lawrence
Summers said today he is “optimistic” that Congress will pass
legislation this year aimed at job creation.
Paulson Tells Buffett U.S. to Get `Every Penny' of Bailout Back From Banks Former Treasury Secretary Henry
Paulson, responding to a question from billionaire Warren
Buffett, said the U.S. government will be repaid in full for the
funds it put into the country’s lenders.
South Korea's Central Bank May Maintain Rate at 2% Amid Political Pressure South Korea’s central bank may keep
the benchmark interest rate at a record low as the government
presses policy makers to stoke the economy before elections.
Greek Aid Package Considered by EU to Ease Region's Biggest Budget Deficit European officials said they are
considering assistance for Greece as its struggle to contain the
European Union’s highest budget deficit threatens to erode
confidence in the euro.
Jobs Bill to Be Introduced in U.S. Senate as Reid Seeks Passage This Week Senate Democrats said they will push
for passage this week of a U.S. job-creation plan that includes
a payroll tax holiday for companies that hire unemployed workers
and $20 billion for highway construction.
BIS Pushes for Higher Capital at Banks in Case of Credit-Market Shutdown Capital requirements on banks aren’t
sufficient to ensure financial stability and lenders should hold
enough liquid assets to survive a temporary loss of access to
funding, the head of the Bank for International Settlements said.
Venezuela's Chavez Declares National `Emergency' Over Electricity Crisis Venezuelan President Hugo Chavez
declared a national emergency in the electricity sector as the
country’s worst drought in 50 years dries up water supplies in
hydroelectric dams.
New Zealand Debit, Credit Card Spending Climbed For Third Month in January New Zealand consumer purchases on
debit, credit and store cards rose for a third month in January,
led by fuel sales that masked weaker demand for food, clothing
and appliances.
Alberta Budget Deficit to Widen to $4.44 Billion Before Return to Surplus The Canadian province of Alberta,
home to the largest oil reserves outside the Middle East, said
its deficit will widen 31 percent next year as government
spending rises and revenue remains little changed.
Fed's Yellen Says Flexible Yuan May Ease China's Concerns About Inflation Federal Reserve Bank of San Francisco
President Janet Yellen said a more flexible exchange rate policy
in China may help mitigate growing concerns about inflation
there and ease “global imbalances.”
End of TALF Means Bond Sales With Spreads Five Times Wider: Credit Markets The end of a Federal Reserve program
that helped unlock credit markets is spurring sales of asset-
backed bonds with relative yields five times wider than on debt
secured by car loans.
Hoenig Says He Dissented on FOMC's `Extended Period' Language on Rates Kansas City Federal Reserve Bank
President Thomas Hoenig said he dissented from the Fed’s last
policy decision because promising to keep rates low for an
“extended period” isn’t appropriate as the crisis fades.
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