EconTracker News

Dec 12, 2012 11:18 AM by KPAX News Staff

Wednesday business briefs

The Federal Reserve is expected to announce a revamped bond-buying plan today to help boost the economy. The Fed's The fed's goal is to keep interest rates low and encourage individuals and companies to borrow and spend. Experts say that could at least soften the blow from tax increases and spending cuts that will kick in in January if Congress can't reach a budget deal.

Stocks rallied on Wall Street Tuesday on hopes that lawmakers will be able to agree on a budget and avoid the fiscal cliff. The Dow Jones Industrial Average climbed 78 points while the NASDAQ rose 35 points.

Yahoo has unveiled new versions of its free email service as it tries to regain some of the ground it lost to Google's Gmail. Yahoo also introduced email apps for the iPhone, iPad and mobile devices running on the new Windows 8 Operating System. It's the first major product overhaul at Yahoo since Marissa Mayer took over as CEO five months ago.

Wells Fargo has slipped to second place behind JP Morgan Chase when it comes to customer satisfaction among big banks. It's the first time in a decade that Wells Fargo has not ranked number one in the American Customer Satisfaction Index.
Bank of America is also not scoring major points with clients, as their customer approval sank to a 10 year low.

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