ECB's Noyer: Price Stability Should Remain Main Goal Nov 16, 2009
"While I doubt very much that monetary policy played a major role in triggering the crisis, I also believe that it can -- and should -- help in the future to better contribute to financial stability," Noyer told a Europlace forum in Tokyo. "It should be made clear, in particular, that, whatever the new tasks and functions of central banks, price stability should remain the primary objective of monetary policy," said Noyer, who is also the governor of the Bank of France. (ABC News -- Wire)
New shelter will meet needs of local homeless Nov 16, 2009
Jennifer Moore, director of the Financial Stability Council for the United Way of the Midlands, said the supplies will be divided and distributed between local homeless shelters and providers. The items] will be put into quart or gallon Ziploc bags so that they are easily portable for people, Moore said. (Gamecock Online, SC)
Flow of money from Albany likely to ebb Nov 15, 2009
Back on the road to financial stability, said state Sen. James Seward, R-Milford. (Utica NY Obserer, NY)
Blame government, not capitalism Nov 15, 2009
The Depression had a serious impact on democratic politics and traditional "free markets." It was portrayed as proof that "markets are inherently unstable" and "the government plays a crucial and necessary role in preventing the markets from getting worse, and in fact, adding financial stability to them.". We're hearing that same baloney from many Democrats and the liberal sectors today, including the news media. (Casper Star-Tribune, WY)
Charities get creative in unusually hard times Nov 15, 2009
United Way is tapping this energy to accelerate the launch of SparkPoint Centers, one-stop community resource centers that help low-income families achieve lasting financial stability. Each SparkPoint Center brings together several nonprofit and government partners to offer integrated, complementary services in one convenient location. (San Francisco Chronicle -- Opinion)
China: A need for strategic reassurance Nov 14, 2009
Certainly, there are increasingly more common interests between the two countries, from restoring global economic and financial stability to managing climate change ... Therefore, they need to manage their ties with the understanding that cooperation and partnership could further global causes, such as financial stability and climate change, and contribute to regional stability, from the Korean Peninsula to the Iranian nuclear issue to the development of multilateral institutions. (Asia Times Online)
Chinese president meets with head of Hong Kong SAR Nov 14, 2009
President Hu commended the efforts the Hong Kong SAR government had made to maintain financial stability and its policy orientation in the future. Hu said the economic situation in the Hong Kong SAR had improved recently and expressed his wish that the Hong Kong SAR government would continue to keep a close eye on the development of the international economic and financial situation and do a good job in responding to it. (Xinhuanet, China)
Phony Fixes for the Wall Street Mess Nov 14, 2009
We'd get an "Agency for Financial Stability," which would supposedly stop catastrophic risks, like AAA-rated mortgage securities, before they explode. 2009 The New York Post. (The American Conservative)
Xtreme Coil Achieves Record Third Quarter EBITDA and Operating Days and Provides Update Nov 13, 2009
Management considered the following risk factors when preparing the MD&A: fluctuations in crude oil and natural gas commodity prices, supply and demand; fluctuation in currency exchange and interest rates; financial stability of Xtreme Coil's customers; current and future applications for Xtreme Coil's proprietary technology; competition from other drilling contractors; regulatory and economic conditions; environmental constraints; changes to government legislation; international trade barriers... (CCNMatthews Press Releases)
Press Release: Statement by IMF Resident Representative to Mongolia Nov 13, 2009
The Fund will continue to cooperate closely with the Mongolian authorities to ensure continued macroeconomic and financial stability. IMF EXTERNAL RELATIONS DEPARTMENT. (IMF News)
National Interstate Expands Program for Crane, Rigging and Heavy Haul Operators Nov 12, 2009
The company is rated "A" (Excellent) VIII by A.M. Best Company, and has a 20-year history of strong growth and financial stability. To learn more about National Interstate's Titan Group Captive Insurance Program, contact Shawn Los, Product Manager at 800-929-1500 x 1153, or email shawn. (Primezone Releases)
Western & Southern Lifes sales surge Nov 12, 2009
He also pointed out s financial strength gives the company an edge as customers look for financial stability. Rating agency Standard & Poor s ranks Western & Southern Financial Group among the world s nine strongest life insurance groups. (Cincinnati Business Courier, OH)
Wall Street Faces `Live Ammo' as Congress Tries to Dismantle Biggest Banks Nov 12, 2009
Representative , chairman of the House Financial Services Committee, has proposed giving the authority to force holding companies whose size threatens financial stability to sell assets or halt certain activities. Representative , a Colorado Democrat, wants to amend Franks bill so that the Fed could impose Glass- Steagall on a case-by-case basis, said his spokeswoman. (Bloomberg -- US)
W.O. named Chamber of the Year Nov 12, 2009
The Chamber of the Year Award recognizes the accomplishments of WOCC on a wide range of achievements including advocacy, programming and financial stability. I m elated, said Stina D Uva, president/CEO of the West Orange Chamber. (Winter Garden West Orange Times, FL)
Goldman Sachs chief defends pay policies Nov 11, 2009
The Federal Reserve is proposing to limit incentive pay and bonuses at regulated banks to promote financial stability. The proposed rules stop short of specific pay caps or dollar targets for bonuses or commissions, but instead offer guidance for compliance with the rules. (Yahoo! Asia News)
Paterson courting small business owners Nov 11, 2009
It s definitely the first step in bringing some sort of financial stability back to New York. Late Tuesday, state legislators continue to negotiate a budget-balancing plan acceptable to Paterson and legislators in the Senate and Assembly. (Albany Business Review, NY)
Banks improving mortgage aid Nov 11, 2009
Herbert Allison, assistant secretary for financial stability, was commenting on the latest report card, released Tuesday, on how the government's Making Home Affordable Program is doing to alleviate the nation's foreclosure crisis. As of the end of October, according to the report, more than 650,000 borrowers, or 20 percent of those eligible, have signed up for "trial" home loan modifications. (San Francisco Chronicle -- Business)
Click to read:D.C. Sniper John Allen Muhammad Executed Nov 11, 2009
He was twice divorced, and after serving in the first Iraq war, he could never find financial stability. He opened a karate school but it didn't last; neither did his car repair shop. (CBS News)
Low-cost airlines gain ground against full-price rivals Nov 10, 2009
Lufthansa is now a large shareholder, providing it financial stability. AirTran. (USA Today -- Money)
Fed: GMAC will still need more bailout money Nov 10, 2009
Analysts have suggested that a further infusion of government aid could help improve GMACs financial stability. But it remains dependent on a broader economic recovery in some of its key markets, like autos, Moodys Investors Service analyst Mark Wasden wrote in a credit research note last week. (MSNBC -- Business)
* Singapore mulls more anti-speculation property rules Nov 10, 2009
Demand for private homes has experienced strong growth and unchecked price gains may expose the property market to risks in the global economy, the Monetary Authority of Singapore said in its Financial Stability Review on Monday. There should be close monitoring of home prices and transactions, it said. (Taipei Times, Taiwan -- World)
'Banks on steroids' worry France Nov 10, 2009
She said she had asked the Financial Stability Board - a global financial oversight body formed by the G20 group of richest nations at their meeting in London earlier this year - to examine whether some banks were "in the process of forming oligopolies for certain products in certain markets". Ms Lagarde also asked it to look at how any lack of competition between banks is affecting bankers' pay. (BBC News -- Europe)
Speculative bubble in property market a risk, says MAS Nov 9, 2009
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Seismic firm zeroes in on China Nov 9, 2009
This will bring us short-term financial stability and long-term employment growth. In the next two to three years, Peebler expects the joint venture to create several hundred new jobs in the United States. (Houston Business Journal, TX)
Argentina's Redrado Says Economy Will Grow at Least 3 Percent Next Year Nov 8, 2009
South America is a winner in terms of financial stability, he said. Brazils economy will easily grow 5 percent next year, Finance Minister told Bloomberg Television in a Nov. 5 interview. (Bloomberg -- Latin America)
Lukewarm reaction to UK tax plan Nov 8, 2009
He said governments should consider whether it would be possible to develop a tax that would be universal, comprehensive in scope and compatible with financial stability, as well as fair and which would not "distort things". He described the idea as "clearly work in progress, it will take time to develop but it is, I believe, an important piece of work". (BBC News -- UK)
G20 to maintain support for global recovery Nov 8, 2009
The G20 hoped the International Monetary Fund (IMF) and the Financial Stability Board (FSB) to develop principles for exit. "The IMF and FSB will continue to assist us in reviewing strategies and implementation, identifying areas where coordination is particularly important and providing assessments of their collective impact on the global economy and the financial system", said the communique. (Xinhuanet, China)
The other Paris Nov 7, 2009
The G-20 not only approved a comprehensive list of new rules for banks, ratings agencies and hedge funds -- they also agreed to create a new international supervisory authority, the Financial Stability Board (FSB), as well as to accept Sarkozy's list. From now on, that list will include the names of tax havens that are unwilling to cooperate with other countries in efforts to identify tax evaders. (Salon)
Lessons from global crisis Nov 7, 2009
On an international level, a central player in improving coordination among the market regulators is the Financial Stability Board (FSB). The board was formed in April this year after the Leaders of the G20 had called for a larger membership of the Financial Stability Forum, which had brought together central banks, international groupings of regulators and supervisors, and international financial institutions ... The FSB was established to address vulnerabilities and to develop and implement... (The Star Online, Malaysia -- Business)
› Eskom confusion remains Nov 7, 2009
" Mentor added that parastatal boards "cannot be allowed to run amok". The Mailan reported on Friday that at a board meeting late last month Godsell expressed concern at senior Eskom management's ability to cope with a long list of "unfinished business". These included producing a long-term financial stability strategy, dealing with long-term coal contracts, the sale of non-core assets, managing bad debt and providing free basic electricity. The paper reported that Godsell had proposed that a... (iAfrica.com)
Cathy’s Corner — People dealt with things better back in the day Nov 6, 2009
Overspending with little or no financial stability is all too common. And yet, people want more and more. (Brenham Banner, TX)
GabrieleMarcottiInside Soccer Liverpool isn't making it easy for its fans. But all's not lost just yet. Nov 6, 2009
These two guys were supposed to build a new stadium, generate heaps of revenue, bring financial stability, compete with Manchester United, blah, blah, blah. Instead, you have some $400 million of debt and two guys who are barely on speaking terms deciding the club's future. (SportsIllustrated.CNN -- Soccer)
Banks say stimulus money will boost SBA lending Nov 6, 2009
The stimulus package provisions are part of a broader financial stability plan, Treasury Secretary Timothy Geithner announced Feb. 10. That plan, which is designed to improved the flow of credit, also calls for speedier and less burdensome processing of SBA loan applications and funds to finance the purchase of AAA-rated SBA loans on the secondary market. (Albany Business Review, NY)
Opening Remarks by Dominique Strauss-Kahn, Managing Director, International Monetary Fund, Given at the 10th Jacques Polak Annual Research Conference Nov 6, 2009
During this review process, we will utilize the results of recent research on macro-financial linkages in order to help our membership devise policies that promote global financial stability and economic growth. The second theme to be discussed at the conference is the importance of understanding how a financial crisis can spread globally. (IMF News)
Story » Nov 6, 2009
In June, slammed by the economic downturn, Genmar was granted Chapter 11 protection from its creditors and asked to develop a reorganization plan that would help it regain its financial stability. Genmar Holdings CEO Irwin Jacobs says he is buying the company. (ESPN -- Outdoors)
Trading Outlook for YRC Worldwide Inc. Issued by StockPreacher.com Nov 5, 2009
"YRCW's consolidated operating revenue decreased 44.6% during the three months ended June 30, 2009, versus the same period in 2008 due to decreased revenue at all of its operating companies. This decline is attributed to both declines in volume over the comparable prior year quarter and declines in yield or price. YRCW's volumes were impacted by multiple factors, most notably the economy and business diversion due to customer concerns surrounding the Company's financial stability. "YRCW last... (Primezone Releases)
Out with the old: Sharks deliver blueprint for prosperity andsuccess Nov 5, 2009
The No.1 pillar is financial stability and prudent fiscal management that involves ''living within our means. Others are engaging with the rugby league and Sutherland Shire communities, to build a consistently high-performing rugby league team, enjoying a positive working environment and providing an environment of honesty and trust. (Sydney Morning Herald -- Sport)
Survey: More shoppers saving for Christmas Nov 4, 2009
Saving money in advance, creating a budget and using cash instead of credit is the recipe for success when it comes to holiday spending because it helps you avoid debt, says Joseph Montanaro, a certified financial planner with USAA. The survey results highlight one of the key lessons of the recession, which is that reducing debt puts you on the road toward financial stability. Montanaro works with USAA Financial Planning Services Insurance Agency Inc., a company that provides financial-planning... (Charlotte Business Journal, NC)
Transcript of a Conference Call on the IMF's Article IV Consultation with Hong Kong SAR Nov 4, 2009
That cycle is a normal part of economic interaction, but it does have certain financial stability and macroeconomic implications and as such we see a regulatory response could try to mitigate that cycle. We view that response as needing to be proactive and proportional to the potential risk. (IMF News)
Banks pile up capital as lending slows up Nov 4, 2009
Domestic banks are suffering from slower growth in loans and rising bad debts but their capital ratios are sound, according to the Reserve Bank's Financial Stability Review (FSR). The ratio of capital to banks' risk-weighted asset profile rose from 13. (Business Report, South Africa)
Putting competition first Nov 4, 2009
AT THE height of the banking crisis, restoring financial stability was paramount for the British government. Worries about limiting the taxpayer s exposure came second. (The Economist)
NAB Pulls Planned $450 Million Note Sale on Lack of Demand From Investors Nov 4, 2009
The Basel Committee on Banking Supervision, a 35-year-old panel that sets international capital guidelines, plans to propose a new minimum global liquidity standard by years end, according to a Sept. 15 statement from the Financial Stability Board, which coordinates the Group of 20 nations regulatory initiatives. Contagion Risk. (Bloomberg -- Australia & New Zealand)
GlaxoSmithKline Launches Specialist HIV Company Nov 3, 2009
-ViiV Healthcare has financial stability to support sustained investment in its pipeline and programmes. -ViiV will pursue multiple strategies to develop this existing business and to deliver new growth opportunities, including geographic expansion, new collaborations and business development activities. (SmartMoney)
Kingdom of the Netherlands—The Netherlands 2009 Article IV Consultation: Preliminary Conclusions Nov 3, 2009
These policies ought to be couched in a longer-run framework strengthening financial stability, ensuring fiscal sustainability, and adopting structural reforms to reinvigorate potential output. Financial sector. (IMF News)
People’s Republic of China—Hong Kong Special Administrative Region Preliminary Conclusions of the 2009 Article IV Mission Nov 3, 2009
It has shown itself to be a simple, transparent exchange rate arrangement that has proven to be an anchor of monetary and financial stability ... The continued strict enforcement of the existing regulatory regime will certainly be essential in maintaining financial stability and limiting future macroeconomic volatility. (IMF News)
Press Release: IMF Executive Board Completes Review of Poland’s Performance Under the Flexible Credit Line Nov 3, 2009
Measures have also been taken to safeguard financial stability, including by reversing the fall in capital buffers and meeting liquidity needs. As for fiscal policy, automatic stabilizers and discretionary measures adopted before the crisis are providing considerable counter-cyclical stimulus. (IMF News)
Markets watch European Central Bank for exit plan Nov 3, 2009
He said "excess volatility" and disorderly movements in exchange rates could hurt economic and financial stability. "At the very least, the single currency's strength will make the Bank more reluctant to hike interest rates," said Jennifer McKeown, European economist at Capital Economics. (The Star Online, Malaysia -- Business)
Minor league basketball team folds Nov 3, 2009
The Groove's season was marred by controversy when disgruntled players accused ownership of failing to pay their salaries for some games played, including leading scorer A.J. Millien, who was released by the team three days after publicly questioning the team's financial stability. Several businesses in the Augusta area also came forward during and after the season, accusing the team of bouncing checks and accumulating past due bills. (The Augusta Chronicle)
Fed to mull recovery, financial stability at policy meeting Nov 3, 2009
Search Type Choose a search type from the items below. By Pedro Nicolaci da Costa Pedro Nicolaci Da Costa. (Yahoo News -- Press Releases)
Move over New York, London is the new No. 1 Nov 3, 2009
The No. 2-ranked country, Australia, jumped nine rungs in the rankings, thanks to its greater financial stability, low sovereign debt, and ready access to consumer credit ... To be sure, the total scores for most developed nations fell sharply, due to the effects of the credit crisisand those that suffered the most from lowered financial stability were among the largest industrialized economies ... What allowed countries such as Britain and the U.S. to remain near the top of the list, despite... (MSNBC -- Business)
Pandit's `Near Death' Cash Hoard Signals Lower Profits Ahead at U.S. Banks Nov 2, 2009
The , a 35-year-old panel that sets international capital guidelines, plans to propose a new minimum global liquidity standard by the end of this year, according to a from the Financial Stability Board, which is coordinating financial regulatory reform on behalf of the Group of 20 nations. Bondholders may benefit from an explicit threshold, said r, an analyst at CreditSights Inc. in New York. (Bloomberg -- US)
Marcus likely to keep her cool in the central bank's hot seat Nov 2, 2009
But he added: "We recognise that alongside inflation reduction and financial stability, we must seek faster development and employment creation. I welcome public debate on this issue, and have agreed with the governor-designate, that monetary policy should also support our aim of balanced and sustainable growth.". From these comments it's difficult to predict the future of the present system of inflation targeting. (Business Report, South Africa)
New transit merger faces a few snarls Nov 2, 2009
I want a culture of accountability and of safety and of long-term financial stability, he said. All of those are big lifts. (Boston Globe)
* EDITORIAL : The problem of surplus capital Nov 1, 2009
The central banks unusual move came just three weeks after it issued a press statement voicing concerns that an inflow of hot money would have adverse implications for the nations economic and financial stability. It also came after the central bank increased sales of negotiable certificates of deposit and certificates of deposit to drain excess funds from the money market. (Taipei Times, Taiwan -- Business)
Gated communities in Lodi Nov 1, 2009
Connecting You to Your Community Lodi, California. Lange is the vineyard general manager for LangeTwins Winery and was inducted into the San Joaquin County Agricultural Hall of Fame this month. (Lodi News Sentinel, CA)
28 comment(s) Nov 1, 2009
Gated communities in Lodi. Connecting You to Your Community Lodi, California. (Lodi News Sentinel, CA)
EU summit removes hurdle to Lisbon Treaty Oct 31, 2009
It called as well for swift progress to be made on the strengthening of the regulatory framework for the prevention, management and resolution of financial crises and on the development of a comprehensive EU-wide framework for closer policy coordination on financial stability. BRUSSELS, Oct. 30 (Xinhua) -- European Union leaders removed one of the last hurdles facing the reformed Lisbon Treaty after giving the Czech Republic an opt-out in relation to the Charter of Fundamental Rights. (Xinhuanet, China)
Endorsement: Nancy Stevens for Mayor Oct 31, 2009
This financial stability didn't come without effort or pain. More than 20 positions were lost in the schools through a reorganization, with five open positions eliminated on the city side. (Marlborough Enterprise, MA)
Global Finance: Britain Is No. 1 Oct 31, 2009
The No. 2-ranked country, Australia, jumped nine rungs in the rankings, thanks to its greater financial stability, low sovereign debt, and ready access to consumer credit ... To be sure, the total scores for most developed nations fell sharply, due to the effects of the credit crisis and those that suffered the most from lowered financial stability were among the largest industrialized economies ... What allowed countries such as Britain and the U.S. to remain near the top of the list, despite... (BusinessWeek)
Brevard candidates share views Oct 30, 2009
We should look for efficiencies and cost-saving opportunities, ways to partner with other local governments, and always keep the citys financial stability and future needs in mind. . (Florida Today)
Bank of Canada Senior Deputy Governor Jenkins to Step Down in April 2010 Oct 30, 2009
My immediate focus remains on my duties as senior deputy governor -- supporting economic recovery in Canada through the banks monetary policy and financial stability objectives, and managing the bank, Jenkins said, according to a statement provided by bank spokesman. Jenkins isnt available for interviews, Harrison said. (Bloomberg -- Canada)
UC Davis And IMG Form Partnership Oct 30, 2009
"This arrangement will help to aid the financial stability of UC Davis Athletics as we add new sources of revenue to the budget.". The deal is effective through June 30, 2012. (Ucdavisaggies.com)
Bingo parlor loses license Oct 30, 2009
"Further investigation revealed that the purpose of this agreement was to infuse money from MYART to FAIM in order to show financial stability and a financial history of FAIM during its licensing investigation," Gregory wrote in the letter. Hamer said MYART's initial $25,000 investment was used to help FAIM get a bingo license - but not the one that was the subject of Thursday's hearing. (The Clarion-Ledger)
Public Information Notice: IMF Executive Board Concludes Article IV Consultation with Nigeria Oct 29, 2009
Directors observed that a robust financial stability framework will be important for the sustained development of the financial sector. They welcomed the improvements already in train, including steps to improve the credibility of information on bank balance sheets and to establish a macro prudential unit within the central bank. (IMF News)
Carney Signals Bank of Canada Wants to Control Credit and Inflation Moves Oct 29, 2009
He said hes working with the countrys banking regulator on rules to bolster financial stability by smoothing the , and there needs to be more cooperation between policy makers to do that ... The biggest global financial crisis since the Great Depression happened in part because central banks paid too little attention to financial stability, both Finance Minister and Carney have said ... Flaherty said that central banks, including Canadas, can and should look for ways to improve the... (Bloomberg -- Canada)
