On Tuesday the Euro rose sharply against the Japanese Yen signaling investor confidence that the coordinated European bailout plan will revive floundering banking systems. The gain followed announcements by Britain, Germany and France to recapitalize their banking systems taking the apprehension out of extreme risk aversion and hastening the selling of the Japanese Yen.
Last week […]
The recently passed $700 billion dollar bailout which was supposed to rebuild economic confidence instead triggered massive sell offs in global markets. Investors feared that the plan was too little and too late. While markets around the world fell the US government worked to inject more money into the world’s banking system and loosed up […]
It is hoped that the recent coordinated rate cuts by the US Federal Reserve and European Central Banks will thaw frozen credit markets globally. The credit crisis has been trickling down into the everyday economy. Corporations are finding it difficult, if not impossible, to obtain short term loans for everyday operations and consumers are feeling […]
Markets around the globe posted record losses last week but following a meeting of Eurozone leaders over the weekend Asian markets slowly climbed and as of Monday Asia Pacific index had gained 7.7% after dropping 20% last week; the worst performance in its history.
In Hong Kong the Hang Seng rose strongly in afternoon trading, and […]
Following the lead of the US Federal Reserve, central banks around the world announced rate cuts designed to lift the global economy in the face of a recession. The Fed slashed rates to 1.5%, while the Bank of England cut its rates to 4.50%, and the European Central Bank cut rates by half a point […]
Following an announcement of a coordinated European bank rescue plan the Euro rose against the Dollar. It is thought by some economists that the European rescue plans have reduced the dollar’s attractiveness as a safe haven. Since mid September the Euro had fallen against the dollar and now that credit markets are beginning to function […]
Tuesday the US government announced a $250 billion plan to help banks repair their balance sheets and restore confidence in markets. The government will inject capital directly into the banking system by purchasing preferred stock and warrants to purchase significant stakes across a number of banks.
Half of the $250 billion will go to nine banks, […]
Last week’s meeting of the International Monetary Fund (IMF) was attended by the world’s financial leaders who are putting aside political differences in order to stave off a global recession. Instead of the bickering that usually takes place at IMF meetings, attendees were desperately seeking solutions to the worse financial crisis in recent history.
The IMF’s […]
Last week’s meeting of the International Monetary Fund (IMF) was attended by the world’s financial leaders who are putting aside political differences in order to stave off a global recession. Instead of the bickering that usually takes place at IMF meetings, attendees were desperately seeking solutions to the worse financial crisis in recent history.
The IMF’s […]
New York stock markets showed positive gains as the lowest oil prices in more than a year inspired investor confidence. The Dow rose 240 points having been down as much as 380 points in the late morning. Stocks were down in morning trading as investors responded to a pair of weak manufacturing reports, Merrill Lynch […]
