Archive for June 24th, 2009

NEW YORK (Reuters) — Warren Buffett said Wednesday that the U.S. economy has “no bounce” and will take time to recover, but there is no risk of deflation to push it further into despair.Speaking on CNBC television, the world’s second-richest person also praised efforts by the Obama administration and Federal Reserve to jump-start economic… »

NEW YORK (Reuters) — Time Warner Inc. and Comcast Corp. have banded together to test ways to allow people to watch more TV shows over the Web, while making sure they keep paying for their traditional cable or satellite TV services.The partnership by two major media companies underscores the pressure the TV industry is under… »

SEATTLE (Fortune) — We now know that Boeing’s super-cool, and super-late, 787 Dreamliner is going to be earthbound a bit longer. The world’s largest commercial aircraft maker announced that during “static” testing they noticed stress where the wings are joined to the body of the plane, a factor that hadn’t been predicted in computer models.The… »

NEW YORK: This statement was posted on the Federal Reserve Web site on June 24, 2009.Information received since the Federal Open Market Committee met in April suggests that the pace of economic contraction is slowing. Conditions in financial markets have generally improved in recent months. Household spending has shown further signs of stabilizing but remains… »

NEW YORK: The Federal Reserve kept its key interest rate near zero Wednesday, and said in a statement that although the U.S. economy remains weak, there are signs of a recovery.The central bank said that the pace of the nation’s economic decline is slowing and that household spending is showing signs of stabilizing. The Fed… »

NEW YORK: The dollar was mixed against rival currencies Wednesday as investors await the Federal Reserve’s latest statement on the economy and respond to monetary policy moves in Europe. The U.S. central bank is expected to hold interest rates steady at historic lows near zero when it releases its policy statement at around 2:15 p.m…. »

NEW YORK: Treasurys mostly rose Wednesday after a successful auction and ahead of a Federal Reserve policy statement.The Federal Open Markets Committee will announce the conclusion of its two-day meeting at 2:15 p.m. ET. Though the rate-setting committee is expected to leave key rates steady, bond investors are keen to hear if the body sees… »

NEW YORK: When Ponzi scheme mastermind Bernard Madoff is sentenced on Monday, he’ll be sent to a real prison with real bars and violent offenders, not a “country club” for white collar crooks, consultants say.Madoff, age 71, faces a maximum sentence of 150 years in the federal prison system. This is based on his confession… »

NEW YORK: When Ponzi scheme mastermind Bernard Madoff is sentenced on Monday, he’ll be sent to a real prison with real bars and violent offenders, not a “country club” for white collar crooks, consultants say.Madoff, age 71, faces a maximum sentence of 150 years in the federal prison system. This is based on his confession… »

NEW YORK: If this recession has taught us anything, it’s that debt can kill.Consumers seem to have figured this out. They are starting to cut their debt loads and save more. But there’s also a lesson here for investors and Corporate America. Firms that are heavily in hock should be avoided. In fact, shares of… »