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Business News

Stocks Open High on Expected Rate Cut

Oct. 28, 2008
Stocks opened sharply higher today in advance of the opening of a two-day meeting at the Federal Reserve, whose policy-making committee is expected tomorrow to cut a key interest rate to help bolster the economy.
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Japan interest rate cut to 0.1 percent

TOKYO, Dec. 19 (UPI) -- Japan's central bank cut the key interest rate to 0.1 percent from 0.3 percent Friday to bolster the economy and arrest the yen's appreciation.

Two European banks cut interest rates

LONDON, Dec. 4 (UPI) -- Central banks in Britain and Sweden cut their key interest rates to 2 percent Thursday to provide liquidity to financial markets.

Japan interest rate cut

TOKYO, Oct. 31 (UPI) -- The Bank of Japan Friday cut its key interest rate to 0.3 percent from 0.5 percent, the first such cut in seven years, to boost Japan's sluggish economy.

Federal reserve cuts interest rates

WASHINGTON, Oct. 8 (UPI) -- Central banks in Europe, Canada and the United States cut key lending rates in tandem Wednesday morning, the U.S. Federal Reserve announced.

Bank of England leaves key rate unchanged

LONDON, Aug. 7 (UPI) -- The Bank of England said Thursday it would keep its key interest rate at 5 percent.

Asian markets rebound

TOKYO, Jan. 23 (UPI) -- After two days of declines, Asian markets took an upswing Wednesday on the U.S. Federal Reserve interest rate cuts.
Fed cuts interest rates to boost economy

Fed cuts interest rates to boost economy

WASHINGTON, Jan. 22 (UPI) -- The U.S. Federal Reserve cut the federal funds rate 3/4 of a point Tuesday in a bid to stem panic on Wall Street.

Oil closes above $90 after Fed rate cut

NEW YORK, Dec. 11 (UPI) -- Oil prices closed above $90 a barrel Tuesday, rising more than $2 after the U.S. Federal Reserve cut interest rates a quarter percentage point.

Bank of England cuts key interest rate

LONDON, Dec. 6 (UPI) -- The Bank of England, in a reflection of deepening economic concern, has made its first cut in two years of its key interest rate.

Fed governor sees no more rate cuts now

NEW YORK, Nov. 16 (UPI) -- Federal Reserve Gov. Randall Kroszner Friday indicated the Fed is not leaning toward another U.S. interest rate cut despite an expected economic "rough patch."

Poole: Rate cut more likely than hike

MILWAUKEE, Nov. 8 (UPI) -- Another interest-rate cut is more likely than a rate hike, Federal Reserve Bank of St. Louis President William Poole said in Milwaukee Wednesday.

U.S. banks lower prime rate a half-point

CHARLOTTE, N.C., Sept. 18 (UPI) -- Bank of America Corp., Wachovia Corp. Wells Fargo & Co. and other major U.S. banks cut their prime rates Tuesday to 7.75 percent from 8.25 percent.

U.S. Fed cuts interest rates a half-point

WASHINGTON, Sept. 18 (UPI) -- The U.S. Federal Reserve Tuesday cut the federal-funds rate a half-point to 4.75 percent and the discount rate a half-point to 5.25 percent.

U.S. stocks close higher on rate cut hopes

NEW YORK, Sept. 11 (UPI) -- U.S. stock indexes closed more than 1 percent higher Tuesday on earnings reports and increased confidence the U.S. Federal Reserve would cut interest rates.

Fed official: Consumer interest-rate key

ATLANTA, Sept. 10 (UPI) -- U.S. consumer health will be key to the Federal Reserve's upcoming decision on interest rates, a Federal Reserve official said Monday.
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Youngsters compete in Scripps National Spelling Bee
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Contestants (L-R) Cooper Barth of West Long Branch, New Jersey, Eboseremhen Eigbe of Galloway, New Jersey, Jacob Bayly Hunter of Sante Fe, New Mexico and Massound Sharif of Albany, New York, all await their turns to compete during the 3rd round of the Scripps National Spelling Bee, May 30, 2012, in National Harbor, Maryland. UPI/Mike Theiler