Tuesday, July 15, 2008
Inflation worries trump other concerns, Fed tells Congress
Inflation worries trump other concerns, Fed tells Congress
The potential for runaway price hikes is the top concern of Federal
Reserve policymakers, according to testimony by Fed chairman Ben
Bernanke and the accompanying report on the economic outlook of his
colleagues on the central bank released Tuesday.
Currencies: Dollar under pressure after Bernanke cites growth risks
Growing worries about U.S. financial institutions keeps the dollar under
heavy selling pressure as the euros hits an all-time high against the
greenback above $1.60.
GM cuts dividend, curbs costs to raise $15 billion
General Motors will cut its dividend, slash salaried employment costs
and sell assets in an effort to raise $15 billion in cash by the end of
2009 as the company grapples with a steep downturn in the U.S. car
market.
Lehman bidders are thin on the ground, analysts say
LONDON
After a drastic slide in Lehman Brothers shares, speculation about
clients leaving and a reported search for new strategic options, now
would be a good time to acquire the struggling brokerage firm, analysts
say. But bidders may be thin on the ground.
