Consumer credit unexpectedly rose by $2.1 billion in September, at an annualized rate of 1.1%, to $2.412 trillion, the U.S. Federal Reserve announced Friday. But the rise was only a partial victory for those who argue that credit expansion is required …
Microloans for small businesses have taken off in Peru, where informal employment is high and access to credit is low. The nation now ranks No. 1 in the annual Economist Intelligence Unit survey of world’s best business environ…
China and Germany, the world’s second-largest and fourth-largest economies respectively, expressed concern about Federal Reserve plans to pump $600 billion into the U.S. economy.
The Fed announced plans to buy $600 billion of assets earlier this week…
Wall Street traders, usually among the best-paid employees in the industry, may see drastic cuts in their take-home pay, Bloomberg News said.
Revenue in trading divisions has fallen by an average of 12% so far this year. Goldman Sachs (GS), which mak…
Mortgage giant Freddie Mac posted a net loss of $4.1 billion for the third quarter, compared with a loss of $6 billion a year earlier.
The company paid a $1.6 billion dividend to the Treasury, which rescued the ailing company two years ago. Freddie M…