Greenspan says economy is close to turning point - papers 28 Feb

The US economy is "firming" and is "close to a turning point" but its recovery will likely be "moderate", Alan Greenspan, chairman of the Federal Reserve, told congressional lawmakers on Wednesday, the FT reports. In testimony to the House Financial Services Committee, Mr Greenspan said "increasing signs have emerged that some of the forces that have been restraining the economy over the past year are starting to diminish and that activity is beginning to firm". The FT also writes that Granada and Carlton Communications on Wednesday called off merger talks after their plans to consolida...