Friday, February 20, 2009
Gold tops $1,000 an ounce as stocks hit new lows
Gold tops $1,000 an ounce as stocks hit new lows
Gold futures top the key $1,000 mark for the first time in nearly a
year, as investors spooked by the sell-off in U.S. stock futures and
international stock markets sought safety in the precious metal.
UBS DROPS AS U.S. PROBE IS SEEN CHALLENGING PRIVATE BANKING MODEL
Shares in Switzerland's UBS sank around 14% Friday as shareholders
reacted to the news that U.S. authorities are seeking information on
as many as 52,000 accounts held by American customers.
ECONOMIC REPORT: CONSUMER PRICES RAN FLAT OVER THE PAST YEAR, U.S. DATA SHOW
With energy prices tumbling 20%, U.S. consumer prices are unchanged
over the past 12 months, the lowest inflation rate since 1955, Labor
Department data show. As they downplay prospects for deflation,
economists keep a wary out for signs of an upsurge in retail-level
inflation.
LEWIS SUBPOENAED OVER MERRILL DEAL: WSJ
Ken Lewis, chairman and chief executive of Bank of America Corp. has been
subpoenaed by New York State Attorney General Andrew Cuomo, according to a
report.
HOW THE OBAMA MORTGAGE PLAN WILL AFFECT BORROWERS
Some homeowners who are underwater on their mortgages and those stuck
in high-cost subprime loans could soon be eligible for a lower
mortgage rate, according to an Obama administration plan announced on
Wednesday.
