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Greenspan: U.S. Must Get Finances in Order
WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan said on Wednesday the U.S. economy entered 2005 in good shape but warned fiscal discipline was essential to meet future challenges. "All told, the economy seems to have entered 2005 expanding at a reasonably good pace, with inflation and inflation expectations well-anchored," Greenspan said remarks prepared for delivery to the Senate Banking Committee. He gave ...Finance Leaders Tackle Terror Financing
By Lesley Wroughton WASHINGTON (Reuters) - World finance ministers gathered under heavy guard on Sunday to discuss efforts to fight terror financing while warning the world must stay focused on the economic recovery and fight against poverty. Security has never been tighter at the International Monetary Fund and World Bank meetings, where finance officials and central bankers meet twice a year to discuss the global economy and the threats that may destabilize it. Fences...American Express to Spin Off Finance Unit
By Joseph A. Giannone NEW YORK (Reuters) - American Express Co., the global credit card and travel services company, said on Tuesday it will spin off its less-profitable personal finance unit, boosting earnings prospects and its stock to the highest level in more than four years. American Express shares soared as much as 8.7 percent, their biggest one-day surge in more than two years. Financial details of the spinoff to shareholders were not ...Oil Deepens 3 Pct Fall on U.S. Stock Build
SINGAPORE (Reuters) - Oil prices eased further on Thursday, deepening the previous day's three percent slump after a surprise increase in U.S. fuel stocks eased worries about meeting peak winter demand. U.S. light crude (CLc1: Quote , Profile , Research ) futures were down 24 cents at $44 a barrel after falling $1.52 a barrel on Wednesday, taking this week's losses to five percent. ...SEC: Fannie Fails Accounting Compliance
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Wednesday the accounting practices of housing finance group Fannie Mae (FNM.N: Quote , Profile , Research ) from 2001 to mid-2004 "did not comply in material respects" with certain accounting standards for derivatives, hedging and other matters. SEC Chief Accountant Donald Nicolaisen said he has advised Fannie that it should "restate its financial statem...Source: .
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