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Latest Business News

Saudi sees OPEC output steady for rest of year (AP) -

Energy Minister  for  the United Arab Emirates Mohamed bin Dhaen Al Hamli,  talks to journalists as he arrives at a hotel for a meeting of the Organization of the Petroleum Exporting countries, OPEC, in Vienna, Austria, on Tuesday, March 16, 2010. (AP Photo/Ronald Zak)AP - Saudi Arabia's oil minister said Tuesday he expected OPEC to keep output steady for the rest of this year, in comments reflecting expectations that crude prices and supply are in sync with the fitfully recovering world economy.


Fed holds rates at record lows to foster recovery (AP) -

The US Federal Reserve is widely expected to keep its key lending rate at virtually zero percent as financial markets look for signals of future monetary policy tightening.(AFP/File/Paul J. Richards)AP - The Federal Reserve on Tuesday repeated its pledge to hold interest rates at record lows to foster the economic recovery and ease high unemployment.


Canadian lawmakers grill Toyota execs on recall (Reuters) - Reuters - Canadian lawmakers accused Toyota Motor Corp (7203.T) executives on Tuesday of waiting too long to inform the government of problems with faulty accelerators in some of the company's vehicles.
Stocks rise after Fed pledges to keep rates low (AP) -

An information board posts the latest prices and graphs above the floor of the New York Stock Exchange earlier this month. Doctors have found a relation between stock market fluctuations and heart attack frequency, a preliminary study by North Carolina's Duke University Medical Center said Saturday.(AFP/Stan Honda)AP - Stocks held on to modest gains Tuesday after the Federal Reserve gave a mildly more upbeat view of the economy.


Intel shares jump on talk of strong earnings (Reuters) - Reuters - Intel Corp shares jumped 4 percent on Tuesday on speculation that the world's top chip maker is preparing to release a positive estimate of its current-quarter earnings.
US warns EU derivatives ban won't work (AP) -

US Commodities and Future Trading Commission Chairman Gary Gensler addresses the Committee on Economic and Monetary Affairs of the European Parliament at the European Parliament in  Brussels, Tuesday March 16, 2010. (AP Photo/Thierry Charlier)AP - Europe's threat to ban the sort of financial derivatives trading that some blame for worsening Greece's debt crisis wouldn't work, a senior U.S. official told EU lawmakers Tuesday.