Financial Markets News
- Coping with the pink-slip phase Friday, November 21, 2008 @ 3:46PMPink-slips have come to haunt India Inc as well. After an aborted lay-off attempt at Jet Airways, news of retrenchments in many companies has started trickling in. Industry chambers have warned of imminent massive lay-offs in the face of local credit squeeze and global downturn.
- Citi boss puts on a brave face Friday, November 21, 2008 @ 3:45PMNew York, Nov. 21 (Reuters): Citigroup Inc shares tumbled for a fifth straight day, as chief executive Vikram Pandit tried to downplay speculation the banking giant might sell major businesses to restore its health and investor confidence.
- Gold demand hits record 250 tn in Q3 Friday, November 21, 2008 @ 3:45PMDemand for gold in India has reached an all-time quarterly record of Rs 30,600 crore in the third quarter of 2008, a 66% increase over the same quarter in 2007 as investors sought a safe haven and jewellery buyers returned to the market to take advantage of softer gold prices.
- Ministry seeks job loss data from textile cos Friday, November 21, 2008 @ 3:44PMThe textile ministry, while expressing concern over the large number of lay offs in the textile industry, has asked the industry to furnish actual job loss numbers as the government is unable to capture this data on its own.
- Markets factor in RBI rate cut; PM talks 8% growth Friday, November 21, 2008 @ 3:44PMThe financial markets are clearly holding their breath in expectation of a rate cut by the Reserve bank of India soon. Interest-rate swaps sank to their lowest rate since 2004, dropping 84 basis points this week by Friday. Interest-rate swaps compare a fixed rate of interest to a future stream of payments using a floating rate.
- Firms make a beeline for LIC cash Friday, November 21, 2008 @ 3:44PMMumbai, Nov. 21: The Life Insurance Corporation (LIC) has sprung to the rescue of India’s cash-strapped corporate giants.
- Govts green infra spends can help avoid recession, says report Friday, November 21, 2008 @ 3:43PMDeutsche Asset Management in its research report on "Investing in Climate Change" has observed that the accelerating pace of global warming will force governments to invest more in climate change mitigation and adaptation despite financial setbacks.
- Pacific Rim Leaders Meet to Push Trade Deals, Back G-20 Plans Friday, November 21, 2008 @ 12:59AMNov. 21 (Bloomberg) -- Leaders from 21 Pacific Rim nations will push for more trade accords when they meet this weekend, seeking to stem any turn toward protectionism amid the worst financial crisis since the Great Depression.
- Wall St plunges again; ADRs slide Friday, November 21, 2008 @ 12:58AMStocks plunged for a second straight day, falling to levels not seen in at least five years as financial and energy stocks tumbled while demand for the safety of government debt spiked.
- Most Asian markets rebound after Wall Street rout Friday, November 21, 2008 @ 12:58AM Associated Press - November 21, 2008 12:53 AM ET BANGKOK, Thailand (AP) - Investors scooped up battered financial and technology shares, sparking a rebound that ended days of sharp declines on...
- Most Asian markets rebound after Wall Street rout Friday, November 21, 2008 @ 12:58AMBANGKOK: Most Asian markets rebounded Friday after days of sharp declines in global markets as investors scooped up battered financial and technology shares.
- Financial Job Losses May Double to 350,000, Recruiter Says Friday, November 21, 2008 @ 12:58AMNov. 21 (Bloomberg) -- The bloodletting in the financial- services industry will accelerate in coming months, with job cuts doubling to about 350,000 worldwide by mid-2009, said Brian Sullivan, chief executive officer of search firm CTPartners.
- Wall Street in fearsome freefall Friday, November 21, 2008 @ 12:56AMNEW YORK — Stocks plunged for a second straight day Thursday, falling to levels not seen in at least five years as financial and energy stocks tumbled while demand for the safety of government debt spiked. Stocks saw the most intense selling late in the session after hopes faded that...
- Business Briefs Friday, November 21, 2008 @ 12:56AMWASHINGTON — Mortgage financiers Fannie Mae and Freddie Mac said Thursday that they are suspending foreclosures during the holiday season. They will halt foreclosure sales from Nov. 26 to Jan. 9 while they evaluate whether borrowers qualify for a new loan modification program.
- Thursday outlook: Asian markets slide; Switzerland cuts interest rates Thursday, November 20, 2008 @ 10:43AMU.S. stock index futures pointed lower Thursday as overseas markets plunged following yesterday’s steep losses on Wall Street. Here at home, there was some good news on the economic front.
- U.S. Leading Economic Indicators Fell 0.8% in October (Update1) Thursday, November 20, 2008 @ 10:42AMNov. 20 (Bloomberg) -- The index of leading U.S. economic indicators fell in October for the third time in four months as stocks and consumer confidence plunged, signaling a deepening recession.
- CANADA SUPPORTS GLOBAL APPROACH TO FINANCIAL REPORTING STANDARDS Thursday, November 20, 2008 @ 10:42AMCanada’s Accounting Standards Oversight Council (AcSOC) has expressed full support for the ongoing efforts of the International Accounting Standards Board (IASB) to develop a globally accepted set of high quality financial reporting standards....
- No plan to stop short-selling: Sebi Thursday, November 20, 2008 @ 10:42AMSecurities and Exchange Board of India (Sebi), today ruled out stopping short-selling as it has no evidence that short-selling is driving the market down, a top official said.
- OVERSIGHT COUNCIL SUPPORTS ACCOUNTING BOARD’S APPROACH FOR VOLATILE MARKETS Thursday, November 20, 2008 @ 10:42AMCanada’s Accounting Standards Oversight Council (AcSOC) hasendorsed recent actions by the Accounting Standards Board (AcSB) to deal with financial reporting challenges caused by the extremely volatile conditions of financial markets....
- Russia Putin To Give Keynote Speech Amid Comeback Speculation Thursday, November 20, 2008 @ 5:16AMMOSCOW (AFP)--Russian Prime Minister Vladimir Putin was Thursday to give a keynote address to his party congress as speculation mounted he is planning a presidential comeback amid a growing financial crisis.
- Emerging markets hit by flight from risk Thursday, November 20, 2008 @ 5:15AMEmerging markets and their currencies sold off on Thursday after a downward shift in risk appetite drove wary foreign investors into repatriating their funds.
- Unisys ties-up with Kale to provide accounting solution Thursday, November 20, 2008 @ 5:15AMUnisys Corporation will offer the AMBER cargo revenue accounting solution from Kale Consultants, as part of its air cargo portfolio.
- Yen Gains as Stocks Slump on Concern Global Crisis Is Worsening Thursday, November 20, 2008 @ 5:15AMNov. 20 (Bloomberg) -- The yen rose for a second day against the dollar as stocks tumbled on concern banks will record further writedowns as economies wilt, sapping appetite for higher-yielding assets funded by loans from Japan.
- Recession may depress prices further Thursday, November 20, 2008 @ 5:14AMWASHINGTON -- Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount.
- News DIRECTV Adds Local HD In 6 Markets The satcaster now provides local high-def channels in 115 markets. Thursday, November 20, 2008 @ 5:14AMWashington, D.C. (November 20, 2008) -- DIRECTV has added local High-Definition channels in six more markets, bringing its local high-def coverage to a total of 115 markets.
- Reliance Capital Asset Management receives approval in Malaysia Thursday, November 20, 2008 @ 5:14AMMumbai, Nov 20 : The Reliance Capital Asset Management Company has received permission from the Malaysian Securities Commission (SC), to start its operations in that country, Ms Zarinah Anwar, Chairman of Securities Commission, Malaysia, in her keynote address to a one-day Indo-Malaysia Capital Market Forum here, said the permission was granted by it two days ago.
- Consumer prices in US decline most in 6 decades Wednesday, November 19, 2008 @ 11:28PMTwo-year yields dropped to levels not seen since 2003. Treasuries rose, and yields showed inflation expectations are the lowest in at least a decade, before a government report that economists say will show consumer prices fell the most since 1949.
- Firms urged: Set up more safety nets Wednesday, November 19, 2008 @ 11:28PMEVEN with mitigating measures in place, the Department of Labor and Employment in Central Visayas (DOLEe-7) said business establishments need to set up more safety nets to cushion the impact of a global recession.
- Dow slides below 8,000 Wednesday, November 19, 2008 @ 11:28PMWall Street hit levels not seen since 2003 on Wednesday, with the Dow Jones industrial average plunging below the 8,000 mark.
- Consumer prices fell in October by biggest amount in 61 years Wednesday, November 19, 2008 @ 11:28PMConsumer prices fell by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount.
- Ford Family Fortune Takes Hits with Firm Wednesday, November 19, 2008 @ 11:27PMThe Ford family is paying a heavy price to maintain its controlling stake in the automaker. In less than seven months, the family has lost $533 million on the special shares that give it 40 percent of the voting rights in the company.
- World business in brief: Russia reassures investors Wednesday, November 19, 2008 @ 11:27PMRussia’s finance minister sought Wednesday to reassure investors and citizens that the economy would survive the global financial turmoil, saying Russia’s rainy day fund would last for at least seven years under the worst-case scenario.
- At IIM-A, finance still rules with 32% placement Wednesday, November 19, 2008 @ 11:26PMDespite the global financial crisis, finance continued to rule the roost at the summer placements of the Indian Institute of Management-Ahmedabad (IIM-A). Although a far cry from the 51.3 per cent last year, the sector saw the highest percentage of acceptance at 32 per cent this year.
- Big C Mobiles charts Rs 50-crore spread Wednesday, November 19, 2008 @ 11:26PMBig C Mobiles Private Limited, a Hyderabad-based mobile retail chain, has embarked on an expansion, which will entail an investment of about Rs 50 crore over the next one year.
- US treasury head defends changes to bailout plan Tuesday, November 18, 2008 @ 8:42PMThe US Treasury Secretary Henry Paulson has been grilled by Congress about his handling of a $US700 billion financial rescue package.
- Scotiabank takes $595M hit related to financial turmoil Tuesday, November 18, 2008 @ 8:40PMScotiabank will take a $595-million hit to the bottom line due to the turmoil in the financial markets including the bankruptcy of Lehman Brothers, the bank announced Tuesday.
- Everyone to get NT$3,600 bonus Tuesday, November 18, 2008 @ 8:39PMTAIPEI, Taiwan -- Premier Liu Chao-shiuan formally announced yesterday a government plan to distribute NT$3,600 shopping vouchers to each of the nation’s citizens early next year. He expects the NT$82.9 billion program will help stimulate domestic spending and economic growth.
- La-Z-Boy to cut 850 jobs, reports quarterly loss widened Tuesday, November 18, 2008 @ 8:39PMMONROE — Lay-Z-Boy Inc. said late today that it will lay off 850 workers as it reported a widening loss for its fiscal second quarter, hurt by a deteriorating economy and historically low customer confidence.
- Treasuries Little Changed; Price Index May Fall Most Since 1949 Tuesday, November 18, 2008 @ 8:38PMNov. 19 (Bloomberg) -- Treasuries were little changed, with yields indicating inflation expectations are the lowest in at least a decade, before a government report that economists say will show consumer prices fell the most since 1949.
- A good time to buy a house: Canadians Tuesday, November 18, 2008 @ 8:38PM Nearly four in 10 Canadians still think that now is a good time to buy a house, even though the proportion who expect home prices to fall further has soared and the proportion expecting higher housing prices has plunged, according to survey results published Tuesday.
- Dollar Rises on Speculation Investors Buying Safest U.S. Assets Monday, November 17, 2008 @ 11:53PMNov. 18 (Bloomberg) -- The dollar rose against the euro and the yen on speculation overseas investors are buying more of the safest U.S. assets as the global economy enters a recession.
- (AFX UK Focus) 2008-11-18 04:49 TREASURIES-Steady in Asia, supported by safety bid Monday, November 17, 2008 @ 11:52PMBy Kaori Kaneko
- Taxpayers left without pail amid bailout Monday, November 17, 2008 @ 11:52PMWhen Congress and the Bush administration were shoving through a $700 billion rescue package for the financial industry last month, we were told our failure to do something would cause our entire banking system to fail.
- US prepares for sea change Monday, November 17, 2008 @ 11:51PMThe United States president-elect has vowed to pull troops out of Iraq, crush Al-Qaeda in Afghanistan and shut down the Guantanamo Bay prison camp.
- The Objectives of International Financial Regulation Monday, November 17, 2008 @ 11:50PMWhile contemplating a second Bretton Woods, authors Howard Davies and David Green ask: Has the current system of financial regulation kept pace with the massive growth in cross-border activity?
- Asia stocks drop as bank job cuts hit mood Monday, November 17, 2008 @ 11:47PMAsian stocks fell on Tuesday after Citigroup cut 52,000 jobs in a dramatic move to save itself and downbeat policymaker comments reflected worsening economic conditions that will unlikely improve until well into 2009.
- Nobel winner Krugman: Era of regulation at hand Sunday, November 16, 2008 @ 8:28AM"Israel is less exposed to sophisticated financial instruments than other emerging markets."
- Heating oil prices sliding Sunday, November 16, 2008 @ 8:28AMSteve Behney never thought heating oil prices would fall as quickly or as much as they have in just a few short months.
- Mobile data services to contribute 18 percent of operation revenues in 2010. Sunday, November 16, 2008 @ 8:28AMAccording to Dr. Gil Feiler, a prominent researcher on the Arab markets, commercial deployment of Mobile TV around the Middle East and North Africa (MENA) countries is now a reality.
- (AFX UK Focus) 2008-11-16 12:52 Bangladesh October remittances up 17 pct on year Sunday, November 16, 2008 @ 8:22AMDHAKA, Nov 16 (Reuters) - Expatriate Bangladeshis sent home $655.98 million in October, up 17.34 percent from a year ago, the central bank said on Sunday, but the lowest since January. In July-October, the first four months of the 2008/09 financial year, remittances from more than 5 million Bangladeshis working abroad totalled $2.99 billion, almost 37 percent higher than the same period of ...
