Elly Koufakis, the co-owner of a busy beauty salon in the posh Athens suburb of Psyhiko, isn’t used to sitting around. The shop’s staff rarely has a minute to breathe between haircuts and manicures. But since the debt crisis in Greece exploded in January, they now spend half their workday sitting idle. „We’ve seen a 50% drop in our appointments,” Koufakis says. „Everyone seems to be reining in their spending.”
China is one of the largest holders of U.S. Treasurys. So some worry that our massive budget deficit, which China has vocally complained about, is the equivalent of biting the hand that feeds us.
The dollar was mostly higher Thursday as fears about Greece’s debt crisis resurfaced, prompting investors to cut their exposure to the higher-yield currencies.
Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee on Thursday that the central bank is looking into Goldman Sachs’ and other U.S. financial firms’ role in Greece’s debt problems.
The dollar rose against the euro and the pound Thursday as fears about Greece’s debt crisis resurfaced, prompting investors to cut their exposure to the higher-yield currencies.
Lawmakers grilled Toyota’s president, Akio Toyoda, in a hearing Wednesday aimed at discovering, among other things, why the automaker was slow to respond to safety issues related to sudden acceleration.
General Motors’ deal to sell its Hummer brand to a Chinese automaker fell through Wednesday and the company said it now plans to shut down the brand.
The dollar turned lower against the euro, pound and yen Wednesday as investors digested Federal Reserve chairman Ben Bernanke’s testimony on monetary policy.
Akio Toyoda, the president of Toyota, told reporters that he was looking forward to testifying before Congress as he arrived on Capitol Hill on Wednesday.
A judge in Milan found three Google executives guilty Wednesday of violating Italy’s privacy code over a video that was uploaded on the search giant’s video platform, the company said.
The dollar gained against the euro and pound but sank against the yen, on renewed worries after a report showed U.S. consumer confidence fell sharply in February after three straight months of improvement.
Toyota usually leads the pack in Consumer Reports magazine’s annual list of Top Pick cars. In fact, last year, half the Top Picks were Toyota products.
Toyota said Monday it has received a federal grand jury subpoena for documents relating to the unintended acceleration of its vehicles and braking systems in the Toyota Prius.
The dollar turned mixed Friday afternoon, with the euro recovering from steep losses, as U.S. stocks gained and traders continued to mull the Federal Reserve’s decision to raise its discount lending rate.
The Greek crisis has thrown another detour into the euro’s march to world currency domination.
The dollar continued to gain broad support Friday from the Federal Reserve’s decision to raise its discount lending rate, as global stocks and commodity prices fell.
The dollar recovered from earlier losses Thursday after the Federal Reserve hiked its discount rate, raising bets the central bank could move to tighten monetary policy soon.
The dollar was mixed against major currencies Thursday after the government said jobless claims rose last week and as investors awaited other economic reports.
The Greek maelstrom that’s roiled the world’s markets for the last two months is more than a matter of embarrassment for its government. It’s become a matter of survival for Greeks.
The dollar rebounded against major currencies Wednesday ahead of the release of the Federal Reserve minutes and a government report on housing.
The dollar fell Tuesday as investors turned to other investments, such as other currencies and stocks, amid optimism about the global economy and signs the European debt crisis is easing.
Let’s try and make sense of this. Europe is supposed to be a financial mess. That’s all we’ve been hearing about for weeks.
Toyota is planning to suspend production at two U.S. plants as sales lag following the automaker’s massive recall of its vehicles.
The dollar fell against major currencies Tuesday as investors turned to other investments, such as stocks and other currencies, amid signs that the European debt crisis is easing.