Recession fears deepen as Citigroup slashes 50,000 jobs
TOKYO (AFP) - Asian shares fell Tuesday on mounting fears of an extended global recession after US banking giant Citigroup announced 50,000 job cuts and carmakers on both sides of the Atlantic pleaded for help.
Nations:South Korea Italy Australia People:Henry Paulson Angela Merkel Ben Bernanke Activities:2008 Global Recession Asian Markets
2008-11-17
Leaders seek to prevent future economic crisis
WASHINGTON - World leaders battling a historic economic crisis agreed Saturday to flag risky investing and regulatory weak spots in hopes of avoiding future financial meltdowns.
Nations:Japan India Brazil U.K. France U.S. People:Nicolas Sarkozy Jim Leach Gordon Brown Robert Zoellick Angela Merkel Barack Obama Activities:G20 Summit
2008-11-15
Obama receives congratulations from world leaders
CHICAGO - President-elect Obama accepted congratulations from nine presidents and prime ministers Thursday, returning calls from world leaders who reached out after his presidential victory.
Nations:Mexico U.K. South Korea Canada Afghanistan Iraq People:Kevin Rudd Lee Myung-Bak Nicolas Sarkozy Gordon Brown Felipe Calderon Ehud Olmert Activities:Obama Admin. US Election 2008
2008-11-06
Around the world, US vote sparks buzz for change
BERLIN - Throngs packed plazas and pubs around the world to await U.S. elections results Tuesday, many inspired by Barack Obama's promise of change amid a sense of relief that -- no matter who wins -- the White House is changing hands.
Nations:France Germany Israel Cuba U.K. Kuwait People:Barack Obama Sarah Palin John McCain Activities:US Election 2008 Source:(AP)
2008-11-04
Recession alarm rings around the world
PARIS (AFP) - Giants of the auto, airline and technology industries ordered emergency action against the global financial crisis on Friday as shares took a new hammering amid mounting gloom.
Nations:France Japan U.K. Turkey Slovenia Slovakia People:Gordon Brown Alan Greenspan Activities:Global Financial Crisis
2008-10-24
Stocks tumble on worries about earnings forecasts
NEW YORK - Wall Street tumbled again Wednesday as investors worried that the global economy is poised to weaken even as parts of the credit market slowly show signs of recovery. The major indexes fell more than 4 percent, including the Dow Jones industrial average, which finished off its lows with a loss of 514 points.
Nations:Germany Japan France Activities:Global Financial Crisis U.S. Markets Source:(AP)
2008-10-22
Wall Street higher on hopes of credit recovery
NEW YORK - A rising wave of optimism lifted Wall Street Monday, propelling the Dow Jones industrials up more than 400 points on more signs of a reviving credit market and support from Federal Reserve Chairman Ben Bernanke for further steps to aid the economy. All the major indexes finished with gains of 3 percent or more.
Nations:Germany Japan France People:Henry Paulson Ben Bernanke Activities:U.S. Markets Source:(AP)
2008-10-20
Stocks shoot higher as volatility continues
Wall Street turned in another stunning finish Thursday and extended its unprecedented streak of volatility -- this time, to the upside -- as investors spent a fractious session again struggling with fears about a recession but giving in to a last-hour wave of buying. The Dow Jones industrials ended up 400 points, after falling 380 early in the session.
Nations:U.S. Germany Japan France People:Steve Ballmer Activities:U.S. Markets
2008-10-16
Worries over economy spread; global markets sink
Wall Street may get a reprieve Thursday after a crucial barometer of inflation came in flat last month.
Nations:U.S. U.K. Russia Germany Japan France People:Gordon Brown Henry Paulson Ben Bernanke Barack Obama John McCain Activities:Global Financial Crisis
2008-10-16
Stocks plunge anew as data points to recession
Investors agonizing over a faltering economy sent the stock market plunging all over again Wednesday after a stream of disheartening data convinced Wall Street that a recession, if not already here, is inevitable. The market's despair propelled the Dow Jones industrials down 733 points to their second-largest point loss ever, and the major indexes all lost at least 7 percent.
Nations:India Germany Japan France South Korea Australia People:Ben Bernanke Activities:U.S. Markets
2008-10-15
G-8 announces global summit on financial crisis
Leaders of the Group of Eight major industrial countries said Wednesday they will meet "in the near future" for a global summit to tackle the financial crisis.
Nations:India Russia France Brazil Italy Germany People:Nicolas Sarkozy Gordon Brown Angela Merkel Activities:Global Financial Crisis Group of Eight
2008-10-15
Government moves again to unclog credit lines
The government put itself four-square into the country's banking business Tuesday, resorting to what President Bush conceded was the unwelcome choice of massive government investments in the banking system in order to loosen paralyzed channels of credit.
Nations:France Germany People:Nicolas Sarkozy Silvio Berlusconi Henry Paulson Ben Bernanke Activities:2008 U.S. Financial Rescue Bush Admin.
2008-10-14
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