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Political alarms ring as panicked markets dive

BEIJING (Reuters) - Asian and European leaders closed ranks on Saturday to try to bolster the confidence of shell-shocked investors fearful that the year-long global credit crunch is mutating into a worldwide recession.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 22:30
Asia and EU seek confidence-booster

BEIJING (Reuters) - Asian and European leaders gathered for the second day of a 43-nation summit on Saturday with the Herculean task of propping up the confidence of panic-stricken markets fearful of a worldwide recession.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 20:01
BG Group said to buy Queensland Gas

SYDNEY (Reuters) - Energy firm BG Group will buy Australian coal seam gas firm Queensland Gas Co in a deal worth up to A$5 billion (1.9 billion pounds), The Australian Financial Review reported on Saturday.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 19:18
Aviva reportedly reviewing 1 billion pound policy payout

LONDON (Reuters) - Aviva is reconsidering the terms of a planned 1 billion pound payout to with-profit policyholders, according to the Times.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 17:48
Friends reportedly to start F&C demerger

LONDON (Reuters) - Insurer Friends Provident is to start a demerger of its controlling interest in fund manager F&C, the Financial Times reported on Saturday.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 17:46
GM, Chrysler talks intensify as Europe carmakers warn

DETROIT/PARIS (Reuters) - General Motors Corp intensified talks to acquire Chrysler LLC on Friday amid a worsening global auto downturn that forced deep cuts of salaried jobs at Chrysler and a warning from France’s PSA Peugeot Citroen .

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 16:25
Crisis hammers stocks and currencies

NEW YORK (Reuters) - Stock markets tumbled around the world on Friday as investors fearing a long and deep worldwide recession dumped risky assets far and wide, sending currencies into a tailspin and oil down sharply.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 15:56
Minister says sterling fall no rebuke to policy

LONDON (Reuters) - The pound’s sharp fall against the dollar on Friday after British output shrank for the first time in 16 years is not a condemnation of the country’s economic policy, a junior finance minister said.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 15:46
Wall Street drops on worries about deep slowdown

NEW YORK (Reuters) - U.S. stocks dropped on Friday in a worldwide sell-off with investors cashing out of stocks as signs mounted that the global economic slowdown could be deeper than feared and the corporate profit outlook darkened.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 13:40
Crisis hammers stocks and roils currencies

NEW YORK (Reuters) - Stock markets tumbled around the world on Friday as investors fearing a long and deep worldwide recession dumped risky assets far and wide, sending currencies into a tailspin and oil down sharply.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 13:13
PNC Picks Up National City

The financal services company found a good use for its government bailout funds….
Original Source: www.forbes.com


  24 October, 2008| massmedia | Comments (0) @ 12:20
Treasuries In Turmoil

U.S. government bonds point to a new rate cut but also inflation fears….
Original Source: www.forbes.com


  24 October, 2008| massmedia | Comments (0) @ 12:20
Shares hit by recession worries

Global stock markets fall back, as fears grow among investors of a sustained worldwide economic recession….
Original Source: news.bbc.co.uk


  24 October, 2008| massmedia | Comments (0) @ 12:08
Recession fears hit world shares

Global share markets fall back, as fears grow among investors of a sustained worldwide economic recession….
Original Source: news.bbc.co.uk


  24 October, 2008| massmedia | Comments (0) @ 12:08
Chrysler cuts salaried jobs

DETROIT/PARIS (Reuters) - A worsening global auto downturn has forced deep salaried job cuts at Chrysler, where merger talks with General Motors intensified on Friday, and a warning at France’s PSA Peugeot Citroen .

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 12:05
Oil falls $4 as OPEC cut fails to halt slide

NEW YORK (Reuters) - Oil dropped more than $4 a barrel on Friday as gloom about a global economic downturn sapping fuel demand took the steam out of an OPEC agreement to cut output.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 11:16
Economy shows first contraction in 16 years

LONDON (Reuters) - The economy shrank 0.5 percent in the third quarter of 2008, much worse than expected and the first contraction in 16 years, official data showed on Friday, making a recession all but inevitable.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 11:03
Banking Faces New Wave Of Consolidation

PNC’s takeunder of National City is just the first deal as the government picks winners and losers….
Original Source: www.forbes.com


  24 October, 2008| massmedia | Comments (0) @ 10:58
Global shares suffer sharp falls

Global share markets fall sharply, as fears grow among investors of a sustained worldwide economic recession….
Original Source: news.bbc.co.uk


  24 October, 2008| massmedia | Comments (0) @ 10:23
Iceland requests $2 billion from IMF to rescue economy

REYKJAVIK (Reuters) - Crisis-struck Iceland called on the International Monetary Fund for $2 billion (1.26 billion pounds) in aid on Friday to help fix a broken banking system, restart currency trading and soften the blow from a withering economic downturn.

Original Source: feeds.reuters.com


  24 October, 2008| massmedia | Comments (0) @ 10:02
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