The sell off on the world's stock exchanges continued in Asian markets Tuesday, as governments scrambled to shore up confidence and stem the turmoil caused by the global financial crisis.
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Markets slide as governments struggle to stem turmoilPosted by UK Economy News
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7Oct 08 Baltics and Balkans brace for hard landingPosted by UK Economy News
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7Oct 08 The credit crunch has killed a consumer-led boom in the European Union's Baltic newcomers and now threatens the bloc's Balkan economies with a bumpy economic landing at best.
Read full story Australia’s central bank slashes interest ratesPosted by UK Economy News
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7Oct 08 Australia's central bank applied shock therapy to the economy Tuesday in the face of global financial panic, slashing interest rates by twice as much as the markets expected.
Read full story Global recession can be avoided, says former IMF chiefPosted by UK Economy News
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7Oct 08 A global recession can be avoided with a coordinated plan to restore market confidence shattered by the US sub-prime mortgage crisis, the former International Monetary Fund chief said Tuesday.
Read full story Australia’s Commonwealth Bank in talks to buy BankWestPosted by UK Economy News
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7Oct 08 Australia's Commonwealth Bank said Tuesday it had begun exclusive talks to buy BankWest, the local unit of Britain's HBOS, in a deal estimated at about 2.0 billion dollars (1.45 billion US dollars).
Read full story Oil rebounds near 90 dollarsPosted by UK Economy News
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7Oct 08 Crude oil prices rebounded to near 90 dollars a barrel in Asia Tuesday but dealers said the underlying trend is lower after deepening global financial turmoil and falling stocks further raised fears of slowing energy demand.
Read full story China milk crisis to cost billions, up to a year to restore confidencePosted by UK Economy News
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7Oct 08 China's milk crisis will likely cost billions of dollars, disrupt millions of livelihoods, and it could be a year before consumer confidence in dairy companies is restored, experts say.
Read full story Belgium, France choose new bosses at troubled DexiaPosted by UK Economy News
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7Oct 08 The Belgian and French governments have agreed that former Belgian premier Jean-Luc Dehaene should become new chairman of troubled Dexia bank, with a BNP Paribas manager as CEO, Belgian leaders said Tuesday.
Read full story Oil recovers but stays below 90 dollarsPosted by UK Economy News
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7Oct 08 Crude oil prices remained below 90 dollars a barrel in Asia Tuesday as deepening global financial turmoil and plunging stock markets further raised fears of slowing energy demand, dealers said.
Read full story World markets slide as governments struggle to stem panicPosted by UK Economy News
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7Oct 08 World stock markets plunged again Tuesday as the global financial crisis deepened, with governments taking emergency measures to shore up confidence but failing to stem the panic.
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