3 September, 2015 by The TZ Newswire Staff Comments Off on Jack Lew: We’re going to hold China accountable
Jack Lew: We’re going to hold China accountable
Treasury Secretary Jack Lew, in an exclusive interview with CNBC, diplomatically but firmly criticized China’s handling of its devaluation.
3 September, 2015 by The TZ Newswire Staff Comments Off on Wall Street set to build on gains, data ahead
Wall Street set to build on gains, data ahead
U.S. stock index futures indicated a higher open on Thursday, building on Wednesday’s rally which saw major averages gain more than 1.5 percent by the close after a tumultuous week of trade so far.
3 September, 2015 by The TZ Newswire Staff Comments Off on Oil rangebound as equity rally offsets inventory rise
Oil rangebound as equity rally offsets inventory rise
Crude prices traded in a narrow range on Thursday as optimism over equity markets helped offset a surprise increase in U.S. oil inventory levels and a firm U.S. dollar. A respite from bearish economic news in China, where markets are closed for public holidays for the rest of the week, also helped hold oil prices rangebound after weeks of huge swings. Olivier Jakob, managing director of PetroMatrix, said the market was quietening down after extreme moves, with holidays in the two largest oil consuming countries – the United States and China – helping temper the appetite for risk taking.
3 September, 2015 by The TZ Newswire Staff Comments Off on Big cities scramble to be prepared for an oil train disaster
Big cities scramble to be prepared for an oil train disaster
They rumble past schools, homes and businesses in dozens of cities around the country — 100-car trains loaded with crude oil from the Upper Midwest. While railroads have long carried hazardous materials …
3 September, 2015 by The TZ Newswire Staff Comments Off on IMF: China, tumbling commodity prices threaten world economy
IMF: China, tumbling commodity prices threaten world economy
China’s slowdown, volatile financial markets and tumbling raw-materials prices have raised the risks to economic growth around the world, the International Monetary Fund reported Wednesday. In an assessment …
3 September, 2015 by The TZ Newswire Staff Comments Off on Cerberus Spends $5.7 Billion on U.S. Mortgages Shunned by Banks
Cerberus Spends $5.7 Billion on U.S. Mortgages Shunned by Banks
If you have a modified mortgage made around the time of the U.S. housing market’s peak, Cerberus Capital Management probably wants to buy it. The investment firm has acquired more than $5.7 billion in residential loans as of the end of July, mostly consisting of mortgages issued from 2005 to 2007 and then modified, according to a marketing document obtained by Bloomberg. The company is seeking to increase the purchases, which are tied to homeowners who are less likely to default because they’ve been making regular payments for several years.
3 September, 2015 by The TZ Newswire Staff Comments Off on Futures higher but investors remain cautious
Futures higher but investors remain cautious
The Fed has said it will raise rates when it sees sustained economic recovery. Near-zero rates allowed the stock market stage a spectacular bull-run since the financial crisis. Some investors believe that the bout of recent market volatility caused by concerns about China’s slowing economy might force the Fed to hold back on a rate hike until the end of the year.