AbitibiBowater cuts Q1 loss
Sales at AbitibiBowater Corp. crashed in the first quarter, but an even bigger drop in costs cut the company’s loss.
AbitibiBowater, which is restructuring under bankruptcy protection in Canada and the U.S., cut its loss to $218 million US in the three months ended March 31, down from $248 million in the first quarter of 2008.
Sales […]
Europe Cuts Interest Rates
Europe Cuts Interest Rates
U.S. Dollar Trading (USD) came under pressure against riskier currencies as investors bought the Euro after milder than expected Quantitative easing measures from the ECB Thursday. Weekly Jobless Claims beat forecasts for the second week at 601K vs. 635K forecast. Crude Oil was down $0.11 ending the New York session at $56.33 […]
The RBA Cuts Down To 3.25%
The RBA Cuts Down To 3.25%
Australia Cash Rate Actual 3.25%, Expected 3.25%, Previous 4.25%
Release Explanation: The interest rate sets the tone for mortgages, commercial loans, and all economic lending criteria. This is the single most important reason why currencies are bought and sold. A strong interest rate and robust business cycle will attract foreign investment. […]