Fed holds rates steady as markets eye future cuts
The Federal Reserve kept the federal funds rate at 1.25 percent in a unanimous vote, signaling readiness to ease if economic weakness worsens. Fed Chair Greenspan noted risks tilted toward weakness, with the next meeting scheduled for June 24-25. Dow Jones rose after the decision as the economy remains fragile postwar.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Alan Greenspan
Federal Open Market Committee
Iraq
Wall Street
New York
Eft
Arnie Holzer
Deutsche Asset Management Americas
Dow
Standard & Poor
Sung Won Sohn
Wells Fargo
Min
Kmart rises from ashes of Chap. 11
Kmart fast tracked out of Chapter 11 after 15 months, shrinking to about 2.0 billion in financing and little debt. ESL Investments pushed the turnaround, cutting stores and jobs, while rival Wal Mart and Target loom. Kmart plans about 70 new outlets and a value brand strategy with Martha Stewart, Joe Boxer and Disney lines.
MENTIONED IN THIS ARTICLE
Chicago
Kmart
Wal-Mart
Target
Boston Consulting Group
Michael Silverstein
Jack Ferry
ESL Investments
Edward Lampert
ESL
Bernard Sands
Richard Hastings
Hasting
Martha Stewart
Joe Boxer
Disney
Michael Graves
Todd Oldham
Space Imaging profits from war era photos in Iraq and Afghanistan
Thornton Colorado based Space Imaging supplied satellite imagery to the National Imagery and Mapping Agency since 1999. The firm signed a multiyear contract in January worth at least 120 million dollars and says wartime demand has increased but operations remain normal. Space Imaging provides non classified, high resolution Earth photos used to map troops, terrain and damage, aiding coalition forces and media without bureaucratic delays.
MENTIONED IN THIS ARTICLE
Thornton
Colo
Colorado
Iraq
Space Imaging
National Imagery and Mapping Agency
U.S. Department of Defense
NIMA
Pentagon
Gary Napier
Tom Cooke
Cooke
Department of Defense
Afghanistan
Earth
Venture capitalists struggle after tech downturn and failed Net work Photonics
Venture capitalists face dwindling returns as startups fail after promising early growth. Net work Photonics, once backed to 139 million, shut down a year after product launch, leaving 140 employees jobless as market forecasts fell short. Investors say many firms fail to meet the large market potential VC criteria, with only a few home runs needed to carry portfolios.
MENTIONED IN THIS ARTICLE
Colorado
Photonics
Georgis
Hanson
Dow Rises on Earnings News Amid Fed Caution
Wall Street advanced as investors digested stronger than expected earnings while the Fed signaled caution on the economy. The Dow gained 0.7 percent to 6588.36 and the Nasdaq rose 1.3 percent to 1523.71, with the S&P 500 up 0.9 percent.
MENTIONED IN THIS ARTICLE
Prises
Holzer
Marvel Enterprises
Wall Street
EchoStar Communications
Cisco Systems
Cisco
Dollar Falls as Fed Signals Deflation Risk
The dollar weakened amid Fed signals that deflation could pose a risk to the US outlook. The euro jumped above 1.14 dollars for the first time since January 1999, trading around 1.1417. The dollar also slipped to 117.67 yen, 1.3252 Swiss francs, and 1.3942 Canadian dollars, while the pound rose to 1.6167 dollars.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
Federal Reserve
Also Mentioned on This Page
Wal- Mart
Silverstein
Troy
Celia Rodriguez
Hobbs
N.M
Colo. Company
Federal Mapping Agency
Scripps Howard
The
Network Photonics
Steve Georgis
Craig Hanson
Vista Ventures
Broomfield
Neapolis
Alan) Greenspan
Greenspan
Gillette
New York Stock Exchange
Japan
Europe
France
Britain
Germany
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