CNN's Felicia Taylor has the latest financial news in the evening business update.



下载

Stocks were treading water ahead of that Federal Reserve announcement and then exploded higher.After discussing the state's economy for two days,the Fed kept its key short term interest rate unchanged at 5.25%.But that's not what actually sparked the rally in Wall Street.Investors were cheered because the Fed dropped the key phrase from previous statements.It's no longer talking about the possibility of additional firming or rate hikes,something that had been in every Fed statement for the last 15 months.The Fed did indicate that it's more concerned about both economic growth and inflation than it was at its last meeting in January.Insight of the problems in the housing sector and the acknowledging signs that the economy may be actually worsening.At the same time,the Fed said inflation is still its primary concern.The major average soar on the hope that a rate cut may happen later this year.The Dow up 159 points.The NASD's gaining nearly 2%.The S&P 500 saw a more than 1.5% increase on the day.Now, by the way,the NASD and the S&P are back in the plus column for the year while the Dow is slightly below where it began at two, in the beginning of 2007.


A lot of good news here, Falecia.
Not bad, right?
Yeah,we'll take it.
Hey, also good news if you are a flyer and you like Southwest as well as JetBlue..... and know competitor in that market space which may mean more options, lower prices.

Exactly.Leave it to Richard Branson.Virgin America has been given a preliminary green light from Federal regulators to begin flying in the United States.Virgin Airlines is behind the new start -up budget carrier which will base in San Fancisco. But before Virgin America can start flying,it must get rid of its current CEO.The government just concerned that he's too close to Virgin Chairman Sir Richard Branson.Of course, he is British and US regulationws require that airlines based here be controlled by someone more independent.

So, the question is ,and I'm listening very carefully, when will these flights be avaible for Virgin America?

Well, it could be just a matter of months.There are a few more hurdles before it's official, but barring any serious turbulence, Virgin America plans to begin New York to San Francisco flights this summer.And that include Las Vegas,Los Angeles,San Diego and Washington Dullas. By the way, Virgin claims its fleet of planes will have the largest seat back TVs of any US carrier and plans to offer free TV and some free video games.Richard?

And I think they can get some good deals in A380, the way things are going for that company as of now(exactly) ... Ha ha



That'd be a big plane though.

Hey, this last story you got for us.You know, I've deleted files before and I've liked , you know, I've hit my head but evidently you're about to tell us about some person who deleted a file worth billions of bucks.

Wow,this is a doozy!OK,it happened in Alaska.A computer technician was reformatting a disc drive at Alaska Department of Revenue when he accidentally deleted the information on a 38-billion-dollar account.Then to make matters worse,he even deleted the backup drive.The accountant question was applicant information for an oil funded account on thousands of Alaskan residents.In case we were aware that account is one of the state's biggest benifits.All residents of the state share in Alaska's oil revenues.Haaaa. good news is, after spending hundreds of thousands of dollars' overtime to re-enter all of the information.Most Alaskans are gonna get their oil payments