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Archive for January 22nd, 2008Bank of America and Wachovia profits nearly wiped outPosted by UK Economy News
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22Jan 08 Bank of Americaand Wachovia, the second- and fourth-largest U.S. banks, said on Tuesday quarterly profits were nearly wiped out by more than $10 billion (5 billion pounds) of write-downs and credit losses.
Read full story Fed slashes U.S. ratesPosted by UK Economy News
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22Jan 08 The U.S. Federal Reserve on Tuesday slashed a key interest rate by the biggest amount in more than 23 years in an emergency bid to head off a U.S. recession and halt a global rout in stocks.
Read full story Comments Off Oil prices close mixed after Fed rate cutPosted by UK Economy News
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22Jan 08 World oil prices closed mixed on Tuesday after news of a surprise US interest rate cut amid global stock market turmoil and mounting economic concerns.
Read full story Comments Off Savers despair for jobs and pensionsPosted by UK Economy News
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22Jan 08 Fears that a possible U.S. recession would rock the rest of the world and cost jobs intensified on Tuesday for small investors left counting the cost to pensions and savings from sliding stock markets.
Read full story Comments Off Dollar weaker vs euro in volatile trade after Fed rate cutPosted by UK Economy News
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22Jan 08 The dollar was weaker against the euro Tuesday after the US central bank cut interest rates by an unprecedented three quarters of a point in an effort to keep the US economy out of recession.
Read full story Comments Off NBC Universal eyes deals in EuropePosted by UK Economy News
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22Jan 08 NBC Universal is pursuing film and television production acquisitions in Europe, India and Japan as part of a drive to bolster its offering of shows and movies outside the United States.
Read full story Comments Off Fed cut pressures ECB to lower its own interest ratesPosted by UK Economy News
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22Jan 08 The European Central Bank (ECB) will find it hard to resist calls for lower interest rates following a spectacular cut by the US Federal Reserve Bank on Tuesday.
Read full story Comments Off FactboxPosted by UK Economy News
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22Jan 08 (Reuters) - U.S. President George W. Bush and the Democratic-led Congress are discussing a fiscal stimulus package aimed at shoring up the troubled U.S. economy.
Read full story Comments Off Wachovia net sinks on losses and write downsPosted by UK Economy News
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22Jan 08 Wachovia , the fourth-largest U.S. bank, said on Tuesday quarterly profit fell a larger-than-expected 98 percent, as the bank suffered more than $3 billion (1.5 billion pounds) of write-downs and credit losses tied to mortgage and capital markets turmoil.
Read full story Comments Off Savers despair for jobs and pensionsPosted by UK Economy News
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22Jan 08 Fears that a possible U.S. recession would rock the rest of the world and cost jobs intensified on Tuesday for small investors left counting the cost to pensions and savings from sliding global stock markets.
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