Business and Finance News

Selling eases on world markets
Washington DC News.Net
Stock markets around the world were mixed Tuesday with signs the panic-selling of recent days may be peaking.
Selling begins to ease on world stock markets
Washington DC News.Net
Stock markets around the world were mixed Tuesday with signs the panic-selling of recent days may be peaking.
Bank of America cuts dividends and borrows money
Washington DC News.Net
The Bank of America, the largest US bank, has put forward a plan to raise $10bn in capital and halve its dividend.
Britain gets bad report from Chamber of Commerce
Washington DC News.Net
A survey of 5,000 companies has produced a report that concludes Britain is already in a worsening recession and is facing the dual threat of slowing growth and rising unemployment.
EU finance heads discuss ways to save banks
Washington DC News.Net
European Union finance ministers, meeting for two days in Luxemburg, have said they do not intend to let large European financial institutions fail.
Australia in shock one percent interest rate cut
Washington DC News.Net
In the first sign that central banks will seriously combat rcession fears, Australia's Reserve Bank stunned markets Tuesday by cutting official interest rates by a full percentage point.
Man kills family after money losses
Washington DC News.Net
A 45-year-old man in the US has unleashed a bloodbath in Los Angeles after having trouble with his job search.
Engineering boffins create new wireless technology
Washington DC News.Net
Boston University's College of Engineering staff are working on a new project to develop the next generation of wireless communications technology.
Lehman Brothers executive pay was increased before bankruptcy
Washington DC News.Net
Richard Fuld, the former head of failed US investment bank Lehman Brothers, has told Congress that his pay over the past eight years was about $300 million.
More European countries guarantee bank deposits
Washington DC News.Net
A growing number of European countries have decided to guarantee bank deposits in response to the persistent unrest in the financial world.
Aer Lingus shocks workers with redundancies
Washington DC News.Net
Aer Lingus will cut up to 1,500 jobs as part of a 74 million euro cost-saving program.
eBay cuts back its workforce after auction slowdown
Washington DC News.Net
EBay will cut 10 per cent of its work force after a slowdown in its main web auctions business.
Facebook creative genius leaves the firm
Washington DC News.Net
Dustin Moskovitz, the college roommate who helped Mark Zuckerberg start Facebook, intends creating a new internet technology firm.
Policy experts say more must be done to stimulate US economy
Washington DC News.Net
The Federal Reserve and US Treasury have been asked to take further measures to stimulate the ailing credit markets.
Citigroup sues Wachovia, Wells Fargo, for $60 bn
Washington DC News.Net
In the acquisition scramble for Wachovia bank, Citigroup Monday sued rival Wells Fargo & Co and Wachovia for $60 billion in punitive and compensatory damages, Citigroup said.
Stocks round the globe plunge amid bailout doubts
Washington DC News.Net
Stock markets around the world plunged Monday as investors worried that government bailouts for sick banks were failing to cure a crisis that threatens to infect global trade and industry too.
Wachovia may be split between Citigroup and Wells Fargo
Washington DC News.Net
The two warring suitors of Wachovia banking chain in the US - Citigroup and Wells Fargo - are being pressured by the federal government to reach a compromise, which may end up carving up the North Carolina-based bank, the Wall Street Journal newspaper has reported.
Early London rally wiped out
Guardian
An early attempt at a rally on the London stockmarket swiftly evaporated this morning as investors were again gripped with fear following yesterday's slump - the worst day's trading in over 20...
Michael White on the chancellor
Guardian
Darling in talks with banks as RBS tops list of stockmarket casualties Increase in limit of savings protection on agenda after chancellor's speech to MPs disappoints...
Indian American in charge of Wall St bailout effort
Express India
US Treasury Secretary Henry Paulson has put an Indian American of Kashmiri origin in charge of the George Bush administration's $700-billion rescue effort for distressed financial institutions. Neel...
Oil rebounds above $90
Inquirer
Oil rebounded more than $2.00 a barrel on Tuesday, recouping some of the previous session's $6.00 loss, after Australia's interest rate cut sparked guarded optimism global central banks...
2009 Will Be
Ananova
The boss of global advertising and marketing giant WPP has told Jeff Randall Live that the "real world" will not feel the devastating effect of the credit crunch until next year. Sir Martin Sorrell...
BofA earnings tumble, cuts dividend
Reuters
Bank of America Corp, citing "recessionary conditions," on Monday halved its dividend and said it would sell at least $10 billion in new common stock to bolster its capital to...

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