Sony Corp. to Slash 10,000 Jobs Globally, Thursday, September 22, 2005
Delta Plans to Cut Up to 9,000 Jobs, Thursday, September 22, 2005
Philadelphia Newspapers cutting 100 staffers, Tuesday, September 20, 2005
New York Times Co. to cut 500 jobs, or about 4% of staff, Tuesday, September 20, 2005
Fed raises interest rates for 11th consecutive time, Tuesday, September 20, 2005
The Federal Reserve raised a key short-term interest rate Tuesday and suggested more rate hikes are on the way, saying it believes the effects of Hurricane Katrina on the economy would be temporary.
The central bank’s policy-makers boosted their target for the federal funds rate a quarter-percentage point to 3.75 percent, the highest level in more than four years.
For consumers, the increase in the fed funds rate, an overnight bank lending rate, means higher rates for credit cards, car loans and adjustable-rate mortgages.