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Archive for October 1st, 2008Dollar firms on hopes bank bailout will passPosted by UK Economy News
In UK financial news
1Oct 08 The dollar traded mainly higher Wednesday on revived hopes for passage in the US Congress of a massive bank bailout package that would calm jittery markets.
Read full story US Senate heads for bailout vote, Europe confronts its own crisisPosted by UK Economy News
In UK financial news
1Oct 08 The US Senate girded for a crucial vote Wednesday on a revised 700-billion-dollar financial rescue package as Europe struggled with its own banking crisis and global markets remained on edge.
Read full story Comments Off Oil prices slide after surprise jump in US crude stocksPosted by UK Economy News
In UK financial news
1Oct 08 Oil prices slumped Wednesday after news of a surprise jump in crude inventories in the United States, the world's biggest consumer of energy, put more downward pressure on prices.
Read full story Comments Off Fortis head could win multi-million-euro payoff: reportPosted by UK Economy News
In UK financial news
1Oct 08 The interim head of embattled Belgian-Dutch financial group Fortis could receive more than five million euros (seven million dollars) in a departure package, Dutch press reported Wednesday.
Read full story Comments Off Buffett dives into GE amid “economic Pearl Harbor”Posted by UK Money News
In UK financial news
1Oct 08 Warren Buffett's $3 billion (1.69 billion pound) commitment to General Electric Co is the latest attempt by perhaps the world's most revered investor to dive into a beaten-down company he believes has staying power, despite a global credit crisis he calls an "economic Pearl Harbour."
Read full story Comments Off Financial crisis weighs on executives’ mindsPosted by UK Economy News
In UK financial news
1Oct 08 The most serious financial crisis in decades has caused business executives around the world to rein in their expectations for short- and long-term growth and warn investors that business volatility will be around for some time to come.
Read full story Comments Off US ‘irresponsibility’ sparked financial crisis: PutinPosted by UK Economy News
In UK financial news
1Oct 08 Russian leaders blamed the US financial system's irresponsibility for the world economic crisis and said it should top the next American president's agenda, as Washington struggled to calm markets Wednesday.
Read full story Comments Off Warren Buffett bets 3 billion dollars on GEPosted by UK Economy News
In UK financial news
1Oct 08 Investment tycoon Warren Buffett agreed Wednesday to invest three billion dollars in US conglomerate General Electric, expressing confidence in the company's long-term outlook.
Read full story Comments Off Ford’s US sales drop 34 percent in SeptemberPosted by UK Economy News
In UK financial news
1Oct 08 Ford Motor Co. posted a sharp 34 percent drop in September US sales Wednesday as the nation's economic woes took a bite out of auto sales.
Read full story Comments Off UBS to cut 1,900 banking and trading jobsPosted by UK Economy News
In UK financial news
1Oct 08 Swiss bank UBS , dealing with mounting credit losses and slumping markets, plans to cut 1,900 more jobs in its investment banking, equities and fixed-income trading businesses, a person familiar with the situation said Wednesday.
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