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Asia stocks gain after coordinated rate cuts
October 8, 2008 on 11:37 pm | In Business News | No CommentsHONG KONG (Reuters) - Asian stocks rose and the yen slipped on Thursday after central banks from China to Europe and the United States cut interest rates to support the global economy, …
U.S. Treasury considering taking stakes in banks
October 8, 2008 on 10:53 pm | In Business News | No CommentsWASHINGTON (Reuters) - The U.S. Treasury Department is considering taking ownership stakes in many U.S. banks in a bid to restore confidence in the badly shaken financial system, the New York Times said.
Oil falls below $88 on downturn fears
October 8, 2008 on 10:20 pm | In Business News | No CommentsSINGAPORE (Reuters) - Oil slid by more than a dollar to below $88 a barrel on Thursday, as a series of bold rescue moves by policy makers around the world failed to lift fears the global economy was heading for a meltdown.
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Oil falls below $88 on downturn fears
Paulson seeks global markets cooperation
October 8, 2008 on 8:58 pm | In Business News | No CommentsWASHINGTON (Reuters) - U.S. Treasury Secretary Henry Paulson said on Wednesday that policy-makers around the world must keep cooperating to try to calm down financial markets but warned the turmoil would not end anytime soon.
U.S. September retail sales disappoint
October 8, 2008 on 7:32 pm | In Business News | No CommentsNEW YORK (Reuters) - U.S. retailers posted disappointing September sales on Wednesday, hurt by a global financial crisis that prompted shoppers to turn frugal and raised concerns of an even weaker holiday shopping season.
AIG getting fresh billions from Fed as it defends event
October 8, 2008 on 6:56 pm | In Business News | No CommentsNEW YORK (Reuters) - American International Group Inc could get nearly $38 billion (22 billion pounds) in fresh cash under a program announced by the Federal Reserve on Wednesday, as the insurer tried to fend off criticism of a lavish event held days after getting an initial $85 billion government loan.
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AIG getting fresh billions from Fed as it defends event
Paulson wants more global cooperation on markets
October 8, 2008 on 6:27 pm | In Business News | No CommentsWASHINGTON (Reuters) - U.S. Treasury Secretary Henry Paulson said on Wednesday that policy-makers around the world must keep cooperating to try to calm down financial markets but warned the turmoil would not end anytime soon.
Central banks cut rates but markets stay fearful
October 8, 2008 on 5:14 pm | In Business News | No CommentsNEW YORK/WASHINGTON (Reuters) - Central banks around the world cut interest rates in unison on Wednesday in an unprecedented move that failed to boost battered stocks, thaw credit markets or cushion forecasts for a sharp slowdown.
Iceland gives up crown defence and seizes another bank
October 8, 2008 on 3:21 pm | In Business News | No CommentsSTOCKHOLM/REYKJAVIK (Reuters) - The Icelandic central bank abandoned efforts to defend the country’s currency on Wednesday and the government seized control of a second big bank as the global financial storm battered the island’s economy.
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Iceland gives up crown defence and seizes another bank
AIG says event was mischaracterized in Washington
October 8, 2008 on 2:28 pm | In Business News | No CommentsNEW YORK (Reuters) - American International Group , a day after being criticized for a lavish event held just days after the insurer got an $85 billion government rescue loan, shot back on Wednesday saying the event was for independent life insurance agents, not its employees.
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AIG says event was mischaracterized in Washington
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