Global stock markets tumble, with European indexes set for the worst day in four years, on fears of a US recession. Source: BBC News | Business | World Edition | 21 Jan 2008 | 12:24 pm
Today's announcement on Northern Rock is hardly the solution envisaged five months ago when the Bank of England stepped in as lender of last resort. Source: Telegraph Business | 21 Jan 2008 | 12:22 pm
The wobbly economy is overtaking Iraq as the issue weighing most heavily on the minds of America's voters. And Washington has noticed. The White House and Congress are almost certain to enact some kind of stimulus package. But like all such temporary, feel-good measures, it will generate a quick blip in growth that will quickly evaporate. In reality only one player has the power to do anything swift and decisive: the Federal Reserve. And its chairman, Ben Bernanke, has already made his intentions abundantly clear. Unfortunately, the cure he's prescribing may be worse than the disease.
LONDON (Reuters) - Gold hit an 11-day low on Monday as a weaker euro versus the dollar encouraged investors to lock in profits from last week's run to record highs, but broader financial market uncertainty was seen limiting losses.
The Treasury outlines plans to convert Northern Rock debt into government-backed bonds to help a private sale. Source: BBC News | Business | World Edition | 21 Jan 2008 | 11:47 am
Mortgage lending across the UK plummeted by 25pc last month to its lowest in more than two years, according to the Council of Mortgage Lenders. Source: Telegraph Business | 21 Jan 2008 | 11:38 am
Shares in Friends Provident surged 8pc after private equity group JC Flowers admitted it is considering a bid for the troubled life assurer. Source: Telegraph Business | 21 Jan 2008 | 11:30 am
Reuters - Britain set a two-week deadline for a
private-sector rescue of Northern Rock, as it confirmed plans
to convert its almost 25 billions pounds ($49 billion) of loans
to the stricken bank into bonds in a bid to smooth a deal.
LONDON (Reuters) - Britain set a two-week deadline for a private-sector rescue of Northern Rock, as it confirmed plans to convert its almost 25 billions pounds ($49 billion) of loans to the stricken bank into bonds in a bid to smooth a deal.
Savers deposited more than £16bn with building societies during 2007, the highest level to date, industry figures show. Source: BBC News | Business | World Edition | 21 Jan 2008 | 11:08 am
German bank WestLB expects to make a net loss of about one billion euros and another billion in write-downs. Source: BBC News | Business | World Edition | 21 Jan 2008 | 10:55 am
How Apple's shares behave in the weeks ahead will depend on a handful of key numbers to be revealed in the conference call the company holds after reporting its quarterly earnings Tuesday.
Reuters - Oil fell more than $1 to a
one-month low below $89 a barrel on Monday, weighed down by
concerns that a recession in top consumer the United States
could drag down other economies and hurt oil demand.
LONDON/SYDNEY (Reuters) - Oil fell more than $1 to a one-month low below $89 a barrel on Monday, weighed down by concerns that a recession in top consumer the United States could drag down other economies and hurt oil demand.
China Eastern says Air China's investment proposal is invalid, sending Air China's shares diving. Source: BBC News | Business | World Edition | 21 Jan 2008 | 10:41 am
Government plans to rescue Northern Rock with more than £50bn in state-backed loans and guarantees have been dismissed by the Conservatives as an act of "economic incompetence” which could saddle taxpayers with massive debts for decades to come. Source: Telegraph Business | 21 Jan 2008 | 10:36 am
The sons of two of Australia's greatest entrepreneurs make a joint offer for Consolidated Media Holdings. Source: BBC News | Business | World Edition | 21 Jan 2008 | 10:22 am
Financial and exporter shares led heavy losses for Asian stocks as a proposed US fiscal stimulus plan failed to soothe fears of a recession in the region's key trading partner Source: FT.com - US homepage | 21 Jan 2008 | 10:10 am
SYDNEY (Reuters) - BHP Billiton has brought in more banks to help it find the $70 billion it needs to fund its planned takeover of Rio Tinto , Britain's Sunday Times newspaper reported.
LOS ANGELES (Reuters) - The editor of the Los Angeles Times, James O'Shea, has been fired over a budgetary dispute only 14 months after he took over the post, the newspaper said on Sunday.
FT.com - The FTSE 100 fell more than 100 points in the opening session of the week, pressured by a combination of renewed concern about the health of the US economy and fading bid talk in the mining sector. Source: Yahoo! News: Business | 21 Jan 2008 | 9:10 am
Britain's biggest sports retailer Sports Direct said this morning it was on course to meet market expectations for the financial year despite "increasingly tough" conditions on the high street. Source: Telegraph Business | 21 Jan 2008 | 9:10 am
The third consecutive monthly drop in UK house prices is beginning to coax some buyers and bargain hunters alike back to the housing market, property website Rightmove said today. Source: Telegraph Business | 21 Jan 2008 | 9:05 am
Reuters - Lachlan Murdoch, son of media tycoon
Rupert Murdoch, and Australian gaming magnate James Packer
launched a joint A$3.3 billion ($2.9 billion) offer on Monday
to buy out the Packer-backed publishing company Consolidated
Media Holdings .
SYDNEY (Reuters) - Lachlan Murdoch, son of media tycoon Rupert Murdoch, and Australian gaming magnate James Packer launched a joint A$3.3 billion ($2.9 billion) offer on Monday to buy out the Packer-backed publishing company Consolidated Media Holdings .
TRAFFORD, Pennsylvania (Reuters) - Only half the machines are running at precision parts maker Hamill Manufacturing, nestled in the Allegheny Mountains just east of Pittsburgh, once the booming center of the U.S. steel industry.
Shares in Northern Rock surged this morning after the Treasury invited new bidders to come forward and unveiled its long-awaited plan on how to resuscitate the stricken bank. Source: Telegraph Business | 21 Jan 2008 | 7:15 am
Reuters - The editor of the Los Angeles
Times, James O'Shea, has been fired over a budgetary dispute
only 14 months after he took over the post, the newspaper said
on Sunday.
Ping An Insurance, China's second-largest insurer, plans to raise almost $22bn to help fund aggressive foreign acquisition plans in the biggest-ever share sale in mainland China Source: FT.com - US homepage | 21 Jan 2008 | 4:54 am
The EU should abandon its biofuels targets because they are damaging the environment, MPs say. Source: BBC News | Business | World Edition | 21 Jan 2008 | 1:00 am
The average asking price of homes up for sale has fallen for a third month in a row, Rightmove says. Source: BBC News | Business | World Edition | 21 Jan 2008 | 12:43 am
James O'Shea was forced out as editor of the Los Angeles Times after a budget dispute with the paper's publisher, David Hiller, the paper reported on its website Source: FT.com - US homepage | 21 Jan 2008 | 12:22 am
The US-based energy group is to contribute $30m over three years to the Global Fund to Fight Aids, TB and Malaria, lending corporate support to international health programmes Source: FT.com - US homepage | 20 Jan 2008 | 11:36 pm
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Reuters - World stocks tumbled on Monday as fears
gripped investors that a sliding U.S. economy would drag others
down with it.
Reuters - Britain set a two-week deadline for a
private-sector rescue of Northern Rock, as it confirmed plans
to convert its almost 25 billions pounds ($49 billion) of loans
to the stricken bank into bonds in a bid to smooth a deal.
Reuters - Oil fell more than $1 to a
one-month low below $89 a barrel on Monday, weighed down by
concerns that a recession in top consumer the United States
could drag down other economies and hurt oil demand.
Reuters - Lachlan Murdoch, son of media tycoon
Rupert Murdoch, and Australian gaming magnate James Packer
launched a joint A$3.3 billion ($2.9 billion) offer on Monday
to buy out the Packer-backed publishing company Consolidated
Media Holdings .
Reuters - The editor of the Los Angeles
Times, James O'Shea, has been fired over a budgetary dispute
only 14 months after he took over the post, the newspaper said
on Sunday.