Federal Reserve Vice Chairman Fischer Hints Inflation is Likely to Rebound Permitting Gradual Rate IncreaseSubmitted by Ryan Bilanich on Sun, 08/30/2015 - 06:38
On Saturday, Stanley Fischer, the Fed Vice Chairman said in a conference, that the U.S. inflation is likely to rebound gradually as the pressure from the strong dollar fades. He also indicated that it will help the Federal Reserve to take a decision about increasing the interest rates gradually. He was cautious enough not to make a big deal about a possible slowdown in China.
On Friday, Trib Total Media said that it plans to sell nine of its publications out of seventy seven. The largest Pittsburgh News paper group is selling four daily newspapers which are The Valley Independent in Monessen, The Daily News in McKeesport, Leader Times in Kittanning and the Daily Courier in Connellsville.
OPEC Oil Producers Prepared to Endure Lower Oil Prices But will Continue their Production to Keep Market ShareSubmitted by Ryan Bilanich on Sat, 08/29/2015 - 07:51
The OPEC members have trimmed their crude oil price expectations in the current year. A second round of disturbance in the price of oil in 2015 is the main reason behind the trimmed expectations. It shows that the oil producing countries are ready to endure cheaper crude prices for a longer time to guard their market share and cut down the rivals' oil output.
Stanley Fischer Federal Reserve Vice Chairman Says No Decision Has Been Taken for September Rate IncreaseSubmitted by John Binz on Sat, 08/29/2015 - 07:42
Stanley Fischer, Federal Reserve Vice -Chair said that till now no decision has been taken regarding raising the record low interest rates. He however, signaled that there is still time to wait and watch the incoming economic data and some decision could crop up at the US central bank's policy meeting in the month ahead.
On Thursday, Minnesota based Patterson Companies, Inc. reported first-quarter profit of $29.7 million for its fiscal year.
The company with its corporate office in St. Paul said that its profit was 30 cents on a per-share basis. The earnings for the quarter from continued operations, adjusted for one-time gains and costs was 47 cents a share.
July marked halt for Japan's inflation as the consumer spending also dropped considerably. For the very first time in last two years Japan's household spending slid considerably to a low level that increased the pressure on the policy makers. A slew of fresh fiscal stimulus is expected to be introduced to support the frail economy.