Archive for April, 2008
FOMC Cuts, Outlook Unclear
FOMC Cuts, Outlook Unclear
The dollar was mixed following the FOMC’s announcement to cut rates by 25-basis points to 2.0%. The Fed reiterated that economic activity remains weak, while “household and business spending has been subdued and labor markets have softened further”. The Fed expects lingering tight credit conditions and the “deepening housing contraction” to weigh […]
CBS Profits Rise 14 Percent in 1Q
CBS Profits Rise 14 Percent in 1Q
NEW YORK — CBS Corp.’s earnings rose 14 percent in the first quarter as a new international TV syndication agreement kicked in for its “CSI” franchise.
Thye company that also also owns Simon […]
GM Posts Loss of $3.3B
GM Posts Loss of $3.3B
DETROIT — General Motors Corp. struggled to a $3.3 billion first-quarter loss, due in part to a weak U.S. market, a strike at a major supplier and plummeting sales of sport utility vehicles and pickups. […]