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- Oct. 22 (Bloomberg) -- Travelers Cos. , the second-biggest U.S. business insurer, lowered its full-year earnings forecast after third-quarter profit fell 82 percent on costs tied to Hurricanes Ike and Gustav and investment losses. Net income dropped ...
- Wall Street tumbled again Wednesday as investors shifted their focus from improving credit markets to worrisome corporate profit forecasts that are raising fears of a deep economic slowdown. The major indexes fell more than 3 percent, including the ...
- Oct. 22 (Bloomberg) -- Emerging-market bonds, currencies and stocks plunged from Brazil to Russia as speculation Argentina may default added to concerns of a global recession. The extra yield investors demand to own developing nation debt swelled 62 ...
- Congressional candidate Eric Massa reacts today, after the USDA questioned his accusations of pork barrel spending, aimed at congressman Randy Kuhl. The money Massa was referring to was a government loan guarantee for a bowling alley. Massa says ...
- OIL prices skidded again today, with New York crude falling below $US70 a barrel for the first time since August 2007 on government news of a surge in US oil stockpiles. The build in US petroleum reserves exceeded market forecasts and the data showed ...
- Oct. 16 (Bloomberg) -- European Union leaders pledged to step up lending to industry, dropping the first hints that they may be forced to stimulate the economy as the banking crisis threatens a continent-wide recession. EU governments will look at ...
- The European Central Bank said Thursday it will provide its Hungarian counterpart access to up to euro5 billion ($6.7 billion) to help support liquidity in Hungary's foreign exchange swap market. Hungary's currency, the forint, has been under ...
- KARACHI: Dollar was selling at Rs 84 in the open currency market on Wednesday evening after it touched Rs 80.80 level in the interbank market. Different exchange companies were demanding different rates for selling the US currency. An official of an ...
- Oct 13 (Reuters) - Brazil's central bank unveiled new measures on Monday easing reserve requirements for banks, the latest in a slew of moves aimed at adding liquidity to the financial system. Following is a chronology of the actions the central bank ...
- SYDNEY, Oct 13 (Reuters) - The Reserve Bank of Australia (RBA) injected a huge amount of cash into the banking system on Monday, strengthening its effort to ease funding pressures stemming from the global credit crisis. Just a day after the ...
- ATLANTA (AP) -- A metro Atlanta real estate agent was sentenced Friday to 14 years in federal prison in a multimillion-dollar mortgage fraud scheme. U.S. District Judge Beverly Martin also ordered Joseph Sterling Jetton, 61, of Woodstock to pay $11.2 ...
- Oct. 10 (Bloomberg) -- The U.K. government is sending a delegation to Reykjavik today in an effort to end the deepening rift over British savers caught up in the collapse of Iceland's banks. Officials and lawyers from the Treasury, the Bank of ...
- John Lawless sees the credit crisis in the looks of disappointed potential car buyers. “There are fewer (financial) sources that are interested in people with dinged-up credit,” said Mr. Lawless, who owns a car dealership on Wyoming Avenue in ...
- Oxfam has made an urgent appeal for more aid to help millions of Ethiopians on the brink of starvation. The call comes as the Ethiopian government is set to announce the number of people in need of emergency aid has leapt from 4.6 million to 6.4 ...
- Oct. 7 (Bloomberg) -- The cost of borrowing in dollars overnight in London jumped as U.K. lenders held talks with the government on emergency funding and Iceland nationalized its second-biggest bank amid an unprecedented credit squeeze. The London ...
- ISLAMABAD: The risk that Pakistan could become the bankrupt state it was before a military coup nine years ago loomed larger on Monday as the rupee struck an all-time low and its debt was relegated deeper into junk bond territory. The six-month-old ...
- SEOUL, Oct 6 (Reuters) - State-run Export-Import Bank of Korea (KEXIM) has on Monday finished allocating $5 billion that the South Korean government promised last week to lend to local commercial banks, the domestic Yonhap news agency reported ...
- SINGAPORE (Reuters) - A squeeze on dollar funding has eased in Asia after massive cash injections by central banks, but reluctance to lend to South Korean banks underscored jitters about the global economic outlook despite the U.S. Congress having ...
- Oct. 7 (Bloomberg) -- Japan and Australia's central banks pumped more than $11 billion into money markets, seeking to ease near-record borrowing costs that threaten to tip regional economies into recession. The Bank of Japan injected 1 trillion yen ...
- WASHINGTON -- While Americans have spent the last month transfixed by the spectacle of one financial giant after another crashing to the ground, the rest of the U.S. economy has been sinking in the muck. By now, the process is so far advanced that ...
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