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Archive for October 2nd, 2008Paris motor show opens amid industry gloomPosted by UK Economy News
In UK financial news
2Oct 08 The world's biggest car show opened on Thursday in Paris, but the razzmatazz was largely overshadowed by economic storm clouds looming over the industry.
Read full story Bitter wage talks begin in Germany’s key metalworking sectorPosted by UK Economy News
In UK financial news
2Oct 08 Germany's biggest industrial trade union IG Metall started wage talks with employers Thursday seeking an eight-percent pay hike for 3.6 million workers in the metalworking and electronics industries.
Read full story Comments Off Senate passes finance bailout, but fails to lift gloomPosted by UK Economy News
In UK financial news
2Oct 08 US senators passed a new 700-billion-dollar bailout of the debt-stricken financial system but failed to lift Wall Street's gloom Thursday while Europe appeared divided over how to battle the crisis.
Read full story Comments Off Deep recession likely in US, less so in eurozone: IMFPosted by UK Economy News
In UK financial news
2Oct 08 The United States could face a deep, prolonged recession from the current financial turmoil, with the eurozone less at risk, the International Monetary Fund said in a report Thursday.
Read full story Comments Off Irish president signs controversial bank guarantee lawPosted by UK Economy News
In UK financial news
2Oct 08 Irish President Mary McAleese on Thursday signed a controversial new emergency law guaranteeing bank deposits, her office said, bringing it into force despite protests from the country's European neighbours.
Read full story Comments Off Trichet signals change of course on interest rate cut: analystsPosted by UK Economy News
In UK financial news
2Oct 08 European Central Bank president Jean-Claude Trichet said the ECB Thursday had considered cutting interest rates, signalling a sharp change of course amid unprecedented turmoil on global markets.
Read full story Comments Off Oil prices slump, ending brief rallyPosted by UK Economy News
In UK financial news
2Oct 08 Oil prices tumbled Thursday as the market refocused on data revealing a jump in American crude stockpiles after a brief rally in response to the US Senate's approval of a revised financial bailout.
Read full story Comments Off Europe divided over response ahead of Sarkozy finance summitPosted by UK Economy News
In UK financial news
2Oct 08 The leaders of Europe's four biggest economies -- Britain, France, Germany and Italy -- will meet Saturday, Paris announced, amid sharp divisions over how to respond to the global financial crisis.
Read full story Comments Off Aviva Investors to boost hedge fund-style productsPosted by UK Money News
In UK financial news
2Oct 08 The British arm of asset management group Aviva Investors is betting that investor interest in hedge fund-style products will survive the credit crisis and rebound once market turmoil abates.
Read full story Comments Off UBS turns a corner, predicting profits for the third quarterPosted by UK Economy News
In UK financial news
2Oct 08 Swiss banking giant UBS on Thursday said it would swing into profit in the third quarter, as it seeks to regain client trust after successive quarters of losses on massive asset writedowns.
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