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Archive for January 24th, 2008Global stocks rise on stimulusPosted by UK Economy News
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24Jan 08 Global stock markets posted gains on Thursday, hoping that plans to rescue ailing bond insurers and provide tax breaks to consumers would prevent new credit losses and breathe fresh life into the U.S. economy.
Read full story Greenspan says U.S. at recession’s edge but not yet therePosted by UK Economy News
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24Jan 08 The United States is at the edge of a recession, with odds of a recession at 50 percent or possibly higher, former Federal Reserve Chairman Alan Greenspan said on Thursday.
Read full story Comments Off Reaction to Microsoft full-year outlookPosted by UK Economy News
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24Jan 08 Microsoft reported a rise in quarterly profit on Thursday boosted by strong of its Windows operating system and the company raised its full-year profit outlook ahead of Wall Street expectations, sending the shares up 4 percent.
Read full story Comments Off Euro gets boost from German confidence dataPosted by UK Economy News
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24Jan 08 The euro got a boost Thursday from a stronger-than-expected German business confidence survey as investors looked for direction on interest rates amid worries about a possible US recession.
Read full story Comments Off Oil jumps 2 percent on U.S. economic packagePosted by UK Economy News
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24Jan 08 Oil jumped more than 2 percent to top $89 a barrel on Thursday as a tentative agreement by U.S. lawmakers on an economic stimulus package helped ease concerns of a recession in the world's biggest economy.
Read full story Comments Off Bank of America shuts London commods trading deskPosted by UK Economy News
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24Jan 08 Bank of America has shut its commodities and energy trading desk in London, becoming one of the first big investment banks to trim operations in these strong markets.
Read full story Comments Off Rogue trader blamed for 5-billion-euro French bank fraudPosted by UK Economy News
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24Jan 08 French banking giant Societe Generale said Thursday a single trader who fooled his bosses carried out a massive 4.9 billion euro (7.15 billion dollar) fraud -- one of the biggest scams in financial history.
Read full story Comments Off SocGen customers take scandal in their stridePosted by UK Economy News
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24Jan 08 Societe Generale customers took news of one of the biggest ever cases of banking fraud in their stride on Thursday, confident that authorities would step in to protect savers if their bank were in trouble.
Read full story Comments Off Oil prices rally as equities recover worldwidePosted by UK Economy News
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24Jan 08 World oil prices rebounded on Thursday as global stock markets firmed, China revealed strong growth numbers and on expectations that OPEC will not increase crude output next week.
Read full story Comments Off Rogue trader blamed for 5-billion-euro French bank fraudPosted by UK Economy News
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24Jan 08 French banking giant Societe Generale said Thursday a single trader who fooled his bosses carried out a massive 4.9 billion euro (7.15 billion dollar) fraud -- one of the biggest scams in financial history.
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