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Asia stocks drop as bank job cuts hit mood

HONG KONG (Reuters) - Asian stocks fell on Tuesday after Citigroup cut 52,000 jobs in a dramatic move to save itself and downbeat policymaker comments reflected worsening economic conditions that will unlikely improve until well into 2009.

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Asia stocks drop as bank job cuts hit mood

U.S. Congress takes first step on automaker bailout

WASHINGTON (Reuters) - Senate Democrats took the first step towards bailing out the nation’s crippled auto industry on Monday by proposing a $25 billion (16.7 billion pound) loan program, a plan that faces stiff political headwinds with millions of jobs potentially riding on the outcome.

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U.S. Congress takes first step on automaker bailout

Government reported set to add detail to bank rescue plan

LONDON (Reuters) - The government is set to give more detailed terms of its proposed 37-billion-pound bail-out of HBOS, Lloyds TSB, and Royal Bank of Scotland, the Financial Times newspaper reported on Tuesday.

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Government reported set to add detail to bank rescue plan

London trader tries life as professional fighter

LONDON (Reuters) - Steven Hopwood has traded the cut and thrust of financial markets for the jabs and kicks of cage fighting — a fast growing mix of martial arts and an old-fashioned pub brawl.

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London trader tries life as professional fighter

Japan in recession

WASHINGTON (Reuters) - Japan became the latest major economy to fall into recession and Citigroup said on Monday it would cut 52,000 jobs, one of history’s largest layoffs, stoking fears the global economic slump is worsening.

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Japan in recession

Oil drops more than 3 percent on global recession fears

NEW YORK (Reuters) - Oil prices dropped more than 3 percent on Monday to the lowest level in nearly 22 months as Japan became the latest major economy to fall into recession, stoking concerns that global fuel demand will fall further.

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Oil drops more than 3 percent on global recession fears

Japan in recession as Citi slashes 52,000 jobs

WASHINGTON (Reuters) - Japan became the latest major economy to fall into recession on Monday and Citigroup said it would cut 52,000 jobs, one of history’s largest layoffs, adding to worries the global economic slump is worsening.

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Japan in recession as Citi slashes 52,000 jobs

Consensus met on need for fiscal action

LONDON (Reuters) - Prime Minister Gordon Brown said on Monday there was growing international agreement on the need for “rapid, coordinated and concerted action” through budgetary measures to counter the economic downturn.

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Consensus met on need for fiscal action

FTSE falls as recession fears hit banks

LONDON (Reuters) - The leading share index ended 2.4 percent lower on Monday, with commodity and banking stocks bearing the brunt of the falls as fears of a global recession mounted.

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FTSE falls as recession fears hit banks

Brown says consensus on need for fiscal action

LONDON (Reuters) - Prime Minister Gordon Brown said on Monday there was growing international agreement on the need for “rapid, coordinated and concerted action” through …

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Brown says consensus on need for fiscal action