Stocks are sharply lower after China said it would increase bank reserve levels
Chinese regulators are trying to contain rapid economic growth to prevent speculative investment bubbles there. The surprising move comes a day after a tame inflation report raised hopes that China wouldn’t have to further tighten its monetary policy.
Concerns about debt problems in European countries like Greece, Spain and Portugal, as well as President Barack Obama’s push for new regulations on banks also weighed on the market and increased volatility in recent weeks.
On Thursday, European Union leaders pledged to provide Greece with support as it tries to bring its debt problems under control. There has been concern that debt problems there could spread and destabilize Europe’s common currency, the euro.
BORDENTOWN, NJ–(Marketwire – 02/10/10) – WORLDWIDE FOOD SERVICES, INC. (Pinksheets:WFSV) announced today the Company has filed its financials with PinkSheets.
Worldwide Food Services, Inc. is 100% Debt-free. The Company owes no suppliers or manufacturers; inventories that are held have all been paid for-in-full.
BORDENTOWN, NJ–(Marketwire – 02/10/10) – WORLDWIDE FOOD SERVICES, INC. (Pinksheets:WFSV) announced today the Company has signed a Letter of Intent to acquire Veterans Consulting Group, Inc. Details will be made available upon completion of the acquisition.
Worldwide Food Services, Inc. is 100% Debt-free. The Company owes no suppliers or manufacturers; inventories that are held have all been paid for-in-full.
Stocks turn lower after comments by Fed Chairman Bernanke
The stock market is falling as Federal Reserve Chairman Ben Bernanke details plans for dismantling the central bank’s economic support measures.
Bernanke says in prepared remarks to a House committee Wednesday that the Fed likely will begin tightening credit by raising the interest rate it pays to banks on the money they have deposited at the Fed.
That would lead to an increase in borrowing rates for consumers and businesses. The Fed chief cautioned that the central bank is not yet ready to boost interest rates.
BORDENTOWN, NJ–(Marketwire – 02/09/10) – WORLDWIDE FOOD SERVICES, INC. (Worldwide Food Services) (Pinksheets:WFSV) announced today a formal Corporate strategy meeting to be held in Myrtle Beach, SC in late February. The Company’s “Stage One” plans have been implemented and well received. Worldwide Food Services will bring their marketing, sales, and administrative teams together to execute “Stage Two” mergers, acquisitions, and joint ventures.
BORDENTOWN, NJ — (Marketwire) — 02/01/10 — WORLDWIDE FOOD SERVICES, INC. (Worldwide Food Services) (PINKSHEETS: WFSV) has selected Little Falls, New Jersey as its new office site. The 3 South Grey Rock Avenue, Little Falls, NJ, office is also the location of Rainbow Foods LLC, the Company’s Joint Venture partner in the storage, assembly and distribution of MRE’s (Meals Ready to Eat).