Global Financial Markets

Stories

Stories 1 - 20 of 210

1 2 3 4 5 ... 11 Next >>

November 2008
- Slump May Doom Clean Energy Initiatives
  
  New York Times | Nov 25, 08 12:25 PM CST
  
  (Newser) - Just as global warming initiatives were gaining serious momentum around the world, the financial crisis looks like it's undermining both the political will and the math that support them, the New York Times reports. With gas prices plummeting, US automakers may be scaling back investment in new technology. In Europe, "industry is saying we can’t deal with financial crisis and reduce emissions at the same time," a UN official said. More »
- Asian Stocks Hammered, Europe Opens Down
  
  Financial Times (UK) | Nov 20, 08 5:12 AM CST
  
  (Newser) - Stocks in Asia plummeted again today as further economic data from Japan and the US spooked investors. In Tokyo the Nikkei dove nearly 7%, while in Hong Kong the Hang Seng slipped 6.6% in a massive sell-off of financial and real estate stocks. This morning in London the FTSE opened down 1.7%, as markets in Frankfurt and Paris were also in the red. More »
- Slowdown Puts Mining Outfits in Deep Hole
  
  Wall Street Journal | Nov 17, 08 8:43 AM CST
  
  (Newser) - Mining companies are shutting down production, laying off workers, and trying to sell excess product as the global economic slowdown drills into the industry’s profits, reports the Wall Street Journal . Metal prices dropped a record 35% last month, and nearly every mineral has been hit. Mining, once an economic shooting star, has fallen back to Earth. More »
- To Avoid Recession, Cheer Up: Aussie Pol
  
  Australia's News Network | Nov 12, 08 3:31 PM CST
  
  (Newser) - Australia's finance minister apparently didn't see what happened to Phil Gramm last summer when he declared that the US economic slowdown was "mental" and called Americans a "nation of whiners." The recession would disappear, said Ken Henry, if Australians would just buck up, Australia’s News Network reports. “Fundamentally what is driving weaker economic outcomes globally at the moment is fractured confidence,” Ken Henry said. “We can talk ourselves into worse outcomes; of course we can. People do; it wouldn’t be the first time.” More »
- Chinese Stimulus Lifts Dow
  
  Wall Street Journal | Nov 10, 08 8:49 AM CST
  
  (Newser) - Stocks jumped out of the gate today, thanks to a $586 billion stimulus package from Beijing. The Dow was up nearly 200 just after opening, the Wall Street Journal reports, and the S&P and Nasdaq climbed 1.8% and 1.2%, respectively. The moves followed rallies overseas, including a 7.3% boost for the Shanghai Composite and a 5.8% boost for the Nikkei. More »
- Asian Stocks Dive
  
  Bloomberg | Nov 6, 08 3:56 AM CST
  
  (Newser) - Dismal earnings predictions from major companies snapped a three-day gain in Asian markets, Bloomberg reports. Japan's Nikkei index skidded 6.5% after Hyundai, Panasonic, and Isuzu warned that the US slowdown would hit earnings. Hong Kong's Hang Seng dropped 6.4%, while News Corp's Australian shares took a 21% hit—its biggest since 1987—after it announced net profit will fall. More »
- Global Stock Markets Mixed After Obama Win
  
  Bloomberg | Nov 5, 08 5:39 AM CST
  
  (Newser) - The dollar gained ground on the euro following Barack Obama’s presidential election win, as investors sensed a glimmer of hope in the US battle to turn around its economy under a new administration. Asian markets were up as credit worries eased slightly, reports Bloomberg. But poor earnings reports sent European stocks lower for the first time in a week, and US index futures index slid. More »
- Schwarzman Weighs In on Market Reforms
  
  Wall Street Journal | Nov 4, 08 10:46 AM CST
  
  (Newser) - With the world in “the worst financial crisis in recent memory,” private-equity billionaire Stephen Schwarzman advocates seizing the opportunity to prevent a repeat. In an op-ed piece in the Wall Street Journal , the Blackstone CEO, who pocketed $677 million from the firm’s IPO last year, calls for global accounting principles, more cooperation between regulatory regimes worldwide and, of all things, more transparency at financial firms. More »
October 2008
- AmEx Will Lay Off 7K
  
  MarketWatch | Oct 30, 08 12:26 PM CDT
  
  (Newser) - Noting that even wealthy Americans are struggling financially, American Express announced today it will cut 10% of its workforce, halt executive pay increases, and freeze new hires. The creditor to the elite will charge $440 million against fourth-quarter results to cover restructuring after 7,000 jobs are cut across all units, MarketWatch reports. AmEx shares were trading 2% higher this morning. More »
- Rate Cut Sparks Global Market Rally
  
  Guardian (UK) | Oct 30, 08 6:42 AM CDT
  
  (Newser) - World markets rode the back of yesterday’s Fed rate cut to huge gains as investors began looking for bargains and flooded the exchanges with cash, reports the Guardian . Hong Kong was up 12.8%, Seoul rose 11.95%, and Tokyo saw a jump of 9.6%, its fourth largest one-day gain ever. European markets opened higher as well. More »
- As Investors Seek Cover, Central Banks Slash Rates
  
  Washington Post | Oct 28, 08 10:30 AM CDT
  
  (Newser) - Central banks worldwide are slashing interest rates, attempting to stem the bleeding in financial markets as investors dump holdings, credit remains tight, and currencies spasm in value, the Washington Post reports. The Federal Reserve is set to cut rates for the second time in as many weeks tomorrow, while the EU plans to do the same next week. South Korea cut three-fourths of a point yesterday. More »