27 February, 2015 by The TZ Newswire Staff Comments Off on Jobs report may test market’s complacency
Jobs report may test market’s complacency
The U.S. stock market has been quiet this week – too quiet. Wall Street has traded in a tight range of late, with both volatility and trading volumes drying up as the earnings season winds down and Federal Reserve Chair Janet Yellen’s recent Congressional testimony delivered no surprises. About 238,000 jobs are expected to have been added in February, according to the non-farm payroll report that will be released on Friday, down from the 257,000 added in January.
27 February, 2015 by The TZ Newswire Staff Comments Off on Southwest Airlines nears end of inspections that grounded 128 planes
Southwest Airlines nears end of inspections that grounded 128 planes
Southwest voluntarily removed the aircraft from service and disclosed the matter on Tuesday to the U.S. Federal Aviation Administration, which then said it could operate the aircraft for a maximum five days while it completed the checks. The checks resulted in about 80 Southwest flight cancellations on Tuesday and about 15 cancellations on Wednesday but no others since.
27 February, 2015 by The TZ Newswire Staff Comments Off on Former AIG head Benmosche dies; led insurer after bailout
Former AIG head Benmosche dies; led insurer after bailout
Robert Benmosche, who took the helm of insurer American International Group (AIG.N) after a massive government bailout at the height of the financial crisis, died on Friday at 70 after a battle with lung cancer. Benmosche is credited with steering AIG through the turbulent period following its near collapse and rescue by the U.S. government. During his tenure, which started in August 2009, AIG fully repaid the $182.3 billion government bailout it received in 2008 to stave off bankruptcy.
27 February, 2015 by The TZ Newswire Staff Comments Off on Fiat Chrysler says recalling 467,500 SUVs worldwide
Fiat Chrysler says recalling 467,500 SUVs worldwide
Fiat Chrysler Automobiles (FCAU.N) said on Friday it will recall about 467,500 SUVs worldwide in order to fix a fuel-pump issue that could cause the engine to either stall or not start. The U.S. arm of Fiat Chrysler said it wasn’t aware of any crashes or injuries linked to this issue. The vehicles affected are the Dodge Durango from model years 2012 and 2013 and the Jeep Grand Cherokee diesel versions from 2011 model year sold outside North America.
27 February, 2015 by The TZ Newswire Staff Comments Off on Exclusive: Chicago nears fiscal free fall with latest downgrade
Exclusive: Chicago nears fiscal free fall with latest downgrade
Chicago drew closer to a fiscal free fall on Friday with a rating downgrade from Moody’s Investors Service that could trigger the immediate termination of four interest-rate swap agreements, costing the city about $58 million and raising the prospect of more broken swaps contracts. The downgrade to Baa2, just two steps above junk, and a warning the rating could fall further still, means the third-biggest U.S. city could face even higher costs in the future if banks choose to terminate other interest-rate hedges against fluctuations in interest rates.
27 February, 2015 by The TZ Newswire Staff Comments Off on In "Paranormal" Europe, Banks Will Pay You To Borrow, And Charge You To Save
In "Paranormal" Europe, Banks Will Pay You To Borrow, And Charge You To Save
A month ago, we wrote about a bizarre situation involving Denmark’s now totally broken monetary system, where as a result of an unprecedented scramble to weaken the currency in order to preserve the peg to the Euro the central bank unleashed a historic rate-cutting scramble, where in 4 consecutive rate cuts its pushed the interest rate to an unheard of -0.75% (while at the same time being the first modern central bank to unveil what we dubbed “Bizarro Backd
