There’s about a 60 percent chance that the Federal Reserve will announce a reduction in its asset purchase program tomorrow, according to Mohamed El-Erian, chief executive officer of Pacific Investment Management Co.
It’s snowing. The children laugh and prance through the woods. Dad fells the perfect fir and carries it home over his shoulder. The family sings carols and drinks cocoa as they happily decorate the tree.
General Motors Co. named Mary Barra to succeed Dan Akerson as chief executive officer, completing the GM insider’s rise from a factory-floor worker to the industry’s first female CEO after more than a century of global automaking.
The Federal Reserve’s balance sheet is poised to exceed $4 trillion, prompting warnings its record easing is inflating asset-price bubbles and drawing renewed lawmaker scrutiny just as Janet Yellen prepares to take charge.
China, the largest foreign creditor to the U.S., increased its ownership of Treasuries in October to almost the record level reached in July 2011 after the Federal Reserve unexpectedly opted not to slow bond buying.
U.S. stocks fell a second day, after an all-time high for the Standard & Poor’s 500 Index, after a Congressional budget accord fueled speculation that the Federal Reserve could trim stimulus next week.
Ending radioactive water leaks along with groundwater and ocean contamination at the wrecked Fukushima nuclear plant in Japan may take more than five years, according to a report by a government advisory body.
China’s central bank barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest in the country.
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