Business News for Friday September 3, 2010

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Economic Outlook: Bernanke's take 12:00 PM, September 3 U.S. Federal Reserve Chairman Ben Bernanke likened the financial crisis Thursday to a bacterial illness that sneaked under the radar of a regulatory system. "E. coli got into the food system, and it created a much bigger problem. There was an awful lot of dependence on short-term, unstable funding, which is analogous to the deposits in banks before the period of deposit insurance," Bernanke said, testifying in front of the Financial Crisis Inquiry Commission, which is charged with ... Continue Reading... Post a Comment | Share | Print Russia takes long view on export ban 12:00 PM, September 2 MOSCOW (UPI) -- Russian Prime Minister Vladimir Putin said Thursday that the moratorium on grain exports could be in place for another year. The ban on exports, triggered by a prolonged drought, began Aug. 15 and was originally scheduled to last until the end of 2010. On Thursday, Putin said, "We shall be able to consider cancellation only after next year's harvest has been collected and there is clarity regarding the grain balance," Itar-Tass reported. Post a Comment | Share | Print SEC looks into high-speed trade orders 12:00 PM, September 2 NEW YORK (UPI) -- U.S. regulators are looking at huge batches of stock trading orders that do not result in actual trades, sources told The Wall Street Journal. The practice, known as "quote stuffing," involves placing orders for stocks and canceling the order within seconds, which gives the impression that a stock is in high demand, The Journal reported Thursday. Capital Management said traders initiated orders to buy or sell 89.7 billion shares on the Nasdaq exchange on ... Continue Reading... Post a Comment | Share | Print Advertisement Click here to get 250 FREE Business Cards today! Save on this incredible offer! Get 250 Free Business Cards! Schumer warns Fed of credit issuer dodge 12:00 PM, September 2 WASHINGTON (UPI) -- U.S. credit card companies may be dodging a consumer protection law by sending solicitations for professional-class cards, Sen. Charles Schumer, D-N.Y., said. The Credit Card Accountability, Responsibility and Disclosure Act has different laws that cover professional or business credit accounts and consumer accounts, MarketWatch reported Thursday. Schumer, in a letter to the Federal Reserve, said he feared a 256 percent surge in solicitations for ... Continue Reading... Post a Comment | Share | Print     More Headlines • Tax cut debate has pundits busy • Markets hold onto modest gains • Crude oil prices climb Thursday • Grains in Chicago close higher • Manufacturing shows growth in August     More News From ArcaMax Current News Entertainment News Business News Sports Political News Weird News Religious News Lifestyles

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