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Yellen is Obama choice to succeed Bernanke at Fed

In this Monday, June 3, 2013, file photo, Janet Yellen, vice chair of the Board of Governors of the Federal Reserve System, answers a question from a participant at the International Monetary Conference in Shanghai, China. President Barack will nominate Yellen to replace Federal Reserve Chairman Ben Bernanke. AP

After a lengthy and politically charged search, President Barack Obama has decided to nominate Janet Yellen, the Federal Reserve’s vice chair, to be chairman of the powerful U.S. central bank, succeeding Ben Bernanke at a pivotal time for the economy and the Fed’s monetary policies.

Posted: October 9th, 2013 in Latest Business Stories,Photos & Videos | Read More »

Oil falls toward $110 after hitting 2-year high

AP FILE PHOTO

The price of oil fell Monday, edging off a two-year high as the likelihood of a U.S. attack against Syria appeared to diminish.

Posted: September 9th, 2013 in Latest Business Stories | Read More »

Obama wants action on government’s borrowing limit

By
US President Barack Obama. AP

President Barack Obama is hailing a last-minute deal that pulled the country back from the “fiscal cliff,” but warned that he “will not compromise” over his insistence that Congress lift the federal debt ceiling.

Posted: January 6th, 2013 in Latest Business Stories | Read More »

Greece tops G8 agenda as eurozone crisis snares Spain

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President Barack Obama waves to cameras before greeting world leaders for the G8 Summit Friday, May 18, 2012 at Camp David, Md. (AP Photo/Susan Walsh)

Fears that debt-stricken Greece may be headed for a chaotic eurozone exit loomed large as President Barack Obama met other G8 leaders for crisis talks in the United States on Friday.

Posted: May 19th, 2012 in Latest Business Stories | Read More »

Strong US jobs growth spurs recovery hopes

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US businesses shifted into hiring gear in January, creating jobs at the fastest clip in nine months, official data showed Friday amid signs the recovery from deep recession is gaining traction.

Posted: February 4th, 2012 in Latest Business Stories | Read More »

990AM: What’s the impact of global recession to OFWs in the US

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Recession in the US will affect mainly the Overseas Filipino Workers, said former Department of Budget and Management Sec. Benjamin Diokno, in an interview on “In Desk Corner” of 990 AM Radyo Inquirer, Wednesday morning.

Posted: August 10th, 2011 in Latest Business Stories | Read More »

2nd US recession could be worse than the first

If the US economy falls back into recession, as many economists are now warning, the bloodletting could be a lot more painful than the last time around. Given the tumult of the Great Recession, this may be hard to believe. But the economy is much weaker today than it was at the outset of the [...]

Posted: August 9th, 2011 in Latest Business Stories | Read More »

Fitch: US debt deal alone won’t sustain AAA rating

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In this July 25, 2011 photo, trader Gregory M. Rowe (left) works on the floor at the New York Stock Exchange in New York. The deadlock over raising the U.S. debt ceiling continued to weigh on stocks and the dollar Tuesday, July 26, after President Barack Obama warned that his country was dangerously close to a default. AP Photo/Seth Wenig

NEW YORK — The U.S. averted a debt default Tuesday when President Barack Obama signed a bill raising the country’s debt ceiling into law. But that might not enough to maintain its coveted AAA debt rating, according to Fitch Ratings. U.S. debt has held a AAA rating since 1917. Currently, fewer than 20 countries have [...]

Posted: August 3rd, 2011 in Latest Business Stories | Read More »

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