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Fed's moves to aid economy since financial crisis

Submitted by Fox First at Ten on September 13th

By The Associated Press WASHINGTON (AP) - The Federal Reserve has taken many unprecedented steps in the past four years to try to boost the U.S. economy and counter the effects of a financial crisis that triggered a painful recession. It has kept the short-term interest rate it controls at a

Fiat to lay out investment plans in October

Submitted by Fox First at Ten on September 13th

By COLLEEN BARRYAP Business Writer MILAN (AP) - The Italian carmaker Fiat, which controls Chrysler, reiterated Thursday that it will provide details on future investments in Italian plants along with planned products rollouts when it presents its third-quarter results, amid growing domestic

News Summary: NYC bans big sugary drinks

Submitted by Fox First at Ten on September 13th

By The Associated Press BAN IN PLACE: New York City's Board of Health banned sales of big sodas and other sugary drinks at eateries including restaurants and concession stands, opening up a new front in the war on obesity. NOT SO BIG GULP: The regulation puts a 16-ounce size limit on cups

News Summary: J&J hiring Bayer exec for key post

Submitted by Fox First at Ten on September 13th

By The Associated Press NEW BOSS: Johnson & Johnson is hiring Bayer CropScience head Sandra E. Peterson for a new post, overseeing the troubled consumer health and manufacturing operations, plus information technology. She starts Dec. 1. THE GOAL: New CEO Alex Gorsky wants Peterson to

Dollar and precious metals at a glance

Submitted by Fox First at Ten on September 13th

NEW YORK (AP) - Key currency exchange rates Thursday, compared with late Wednesday in New York:

Bernanke: No specific target for bond purchases

Submitted by Fox First at Ten on September 13th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - The Federal Reserve does not have a specific economic target for its new stimulus program, Ben Bernanke said Thursday. He said the Fed will keep buying bonds until it sees more jobs, lower unemployment and stronger growth. "We are

How Fed policymakers affect the economy

Submitted by Fox First at Ten on September 13th

By The Associated Press The Federal Reserve's chief policymaking group, the Federal Open Market Committee, has vast power over the economy through its ability to set monetary policy. Here is a look at how the FOMC operates. Q: What is the FOMC's primary role? A: Its mission is to keep

News Summary: Europe's minority youth face hurdles

Submitted by Fox First at Ten on September 13th

By The Associated Press GENERATION OUT OF WORK: Young graduates from Europe's Class of 2012 are finding that university diplomas are no protection against rising unemployment. Nearly a quarter of young people in the eurozone are jobless, and the hurdles are higher for minorities. BIAS:

Italian government sells 1.7 percent stake in Eni

Submitted by Fox First at Ten on September 13th

MILAN (AP) - The Italian government finance company says it has sold a 1.7 percent stake in the Eni gas and oil company for €1.096 billion ($1.4 billion) over recent weeks. The Cassa Depositit e Prestiti SpA said Thursday that it sold the shares to help finance its purchase of a nearly 30 percent

Fed cuts 2012 growth forecast, raises next 2 years

Submitted by Fox First at Ten on September 13th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - The Federal Reserve has lowered its growth forecast for this year but is more optimistic about the next two years. The brighter outlook likely reflects a series of bold stimulus measures that the Fed launched Thursday aimed at boosting