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Thursday 17 September 2015 8:42 pmFederal Reserve interest rate decision: Fed leaves US interest rate unchangedBy: Clara GuibourgShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsA owala flasche ppEmailShare on EmailAdd as a preferredsource on GoogleThe Federal Reserve decided to keep US interest rates unchanged today, confirming analystsrsquo; suspicions that recent market turmoil would stay the bank s hand.The shaky global economy, recently dragged by turmoil in China after Black Monday, lay behind the Fed s decision to hold its fire and keep the interest rate at its zero to a quarter point target, the bank said in a statement:Recent global economic and financial devel polene opments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term.At a press conference about the rate decision, Fed chairwoman Janet Yellen said: We are asking ourselves how economic and financial developments in the global economy affect the risk to our outlook for our two goals, and whether or not they create unbalanced risks that we want to wait to resolve.One Fed official even voted to push the near-zero rate into negative territory, but Yellen said during the press conference this was never seriously considered.Despite holding rates steady, the central bank has forecast that a hi stanley tumbler ke is coming before the year is out, after almost seven years near zero. Since the bank is meeting only twice more this year, this means an Tsma Solum in Islamic venture
Thursday 16 July 2009 8:00 pm|Updated:Friday 31 May 2019 7:12 amUS LENDER CIT TEETERS ON THE BRINKBy: admindrupalShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleCIT Group, the US bank that lends to a million small- and medium-s stanley at ized businesses, was on the brink of collapse last night after President Obamarsquo administration refused to come up with an emergency bailout.Shares of the 101-year old firm slid as much as 80 per cent to 31 cents amid fears that CIT would follow Lehman Brothers and be allowed to collapse.Chief executive Jeffrey Peek was last night pleading for $2bn pound;1.2bn of capital from bondholders as a first stage in a rescue plan.He was locke stanley thermobecher d in talks with 10 to 15 investors each with around $500m of exposure including Allianz unit Pacific Investment Management.Peek is said to have been shocked bythe governmentrsquo decision to step away from a rescue. The bondholders face a choice between cutting their losses and letting the firm fail, or ploughing in further capital to a company that could still face a serious risk of collapse. Analysts were saying last night the firm needs as much as $6bn to survive as a going concern.The lender already received $2.33bn of government assistance under the US Troubled Asset owala water bottle Relief Programme TARP in December, but the government has decided to cut its losses.Ratings agency Standard Poorrsquo SP last
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