The Federal Reserve lowered the target for a critical short-term interest rate by a quarter of a point Wednesday, citing continued concerns about weakness in the housing market.
Your boss might give you a break if you're late to work a few times, but don't expect the same courtesy from your credit card issuer. Pay your bill late even once and you'll take a real hit to your financial future.
Oil prices set a new record high Wednesday, jumping over $4 on an expected interest rate cut from the Federal Reserve and dwindling supplies in the United States.
Stocks rallied and bonds slumped Wednesday after the Federal Reserve cut a key short-term interest rate by a quarter point, as expected, and implied that it doesn't need to cut rates again for the time being.
Abhishek Nayak just turned 20 yesterday, and he spoke on a panel of young people here in Delhi at the Fortune Global Forum. He's a committed programmer who hands out a business card that shows him as vice president of a company, even though he's primarily a student. On the card is that great quote from John Lennon's Imagine: "You may say I'm a dreamer, but I'm not the only one. I hope someday you'll join us, and the world will live as one."
Merrill Lynch's board of directors was instrumental in removing Stanley O'Neal from the CEO and chairman posts after the brokerage reported $7.9 billion of bond losses in its third quarter.
The U.S. economy shrugged off problems in the housing and credit markets in the third quarter, as the pace of economic growth showed an unexpected gain in the government's latest reading.
Could the Federal Reserve's interest rate cut on Wednesday be the trick that treats tapped-out consumers to more spending money during the critical holiday shopping season?
