Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Global Markets Rally After Rescue Talks

Banks gain big in European trading

By Mary Papenfuss, Newser Staff

Posted Oct 13, 2008 2:58 AM CDT

(Newser) – Asian and European markets were up today following announcements by global leaders of wide-ranging economic rescue packages. France's Cac 40 index and London's FTSE 100 index both bounced more than 5%, with banking shares posting some of the biggest gains, the BBC reports. Australia's main... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

BBC (Source Grid »)

Money • World

European Union • global economy • markets • economy • financial crisis

More Newser Stories

As Crises Spread, Europe Scrambles for an Answer

Even healthier countries now feeling pinch

(NEWSER) - Financial crises in Greece, Ireland, and Portugal have stoked fears for Italy, Belgium, and the more robust Germany as Europe struggles to find a solution, the New York Times reports. Worry that Germany may have to pay the brunt of bailout costs have prompted the sale of its debt; investor concerns are marked by a euro rapidly sinking against the dollar. More»

IMF: Blame Europe for Longer Recession

EU policy blunders likely to result in longer slowdown for rest of world

(NEWSER) - The European economy will sink deepest out of all global economies, bounce back slowest—and delay recovery for the rest of the world to boot, according to the IMF's latest forecast. The agency predicts the EU's economy—at $18 trillion, nearly a third of the world's total—will shrink 4% this year and contribute to a longer slowdown in the US and Asia, reports the Wall Street Journal. More»

EU Expects Deep, Lengthy Recession

Government spending will be only thing keeping European economies afloat

(AP) - The European Union said today it is facing a "deep and protracted recession" with government spending the only source of growth. The 16 nations that use the euro will shrink 1.9% in 2009, with the entire EU contracting 1.8%, the European Commission forecasts. The EU will lose 3.5 million jobs as business and household spending falls and lending slows. More»

Russia Tycoons Seek $78B Kremlin Bailout

Looming foreign debt forces oligarchs to return power to state

(NEWSER) - A dozen years after bailing out the Soviet government, Russia’s oligarchs are seeking $78 billion in Kremlin handouts to weather the credit crunch, Bloomberg reports. Russian businesses have racked up some $110 billion in foreign debt due in 2009. The one-year loans, sought by more than 100 companies, would likely shift control of some industries back to the state. More»

Bush to Host Economic Summit

World meeting to be held 'in the near future'

(NEWSER) - President Bush will soon announce his plan to host a global summit on the financial crisis, MSNBC reports, to be held in the near future. “The president wants participation and ideas from both developed and developing nations,” one official said on condition of anonymity. Bush will meet with Nicolas Sarkozy and European Commission President Jose Manuel Barroso today at Camp David. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Global Markets Rally After Rescue Talks

Banks gain big in European trading

European Union • global economy • markets • economy • financial crisis

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

As Crises Spread, Europe Scrambles for an Answer

Even healthier countries now feeling pinch

IMF: Blame Europe for Longer Recession

EU policy blunders likely to result in longer slowdown for rest of world

EU Expects Deep, Lengthy Recession

Government spending will be only thing keeping European economies afloat

Russia Tycoons Seek $78B Kremlin Bailout

Looming foreign debt forces oligarchs to return power to state

Bush to Host Economic Summit

World meeting to be held 'in the near future'

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?