LONDON (Reuters) - Oil fell below $88 a barrel on Wednesday as stock markets continued their decline, shrugging off a temporary reprieve from a steep cut in U.S. interest rates amid persistent fears of a global economic slowdown.
DETROIT (Reuters) - Chrysler Chief Executive Bob Nardelli said the Federal Reserve's emergency 75 basis point rate cut would help consumer confidence and boost auto sales in 2008.
WASHINGTON (Reuters) - The U.S. Federal Reserve on Tuesday slashed a key interest rate by the biggest amount in more than 23 years in an emergency bid to head off a U.S. recession and halt a global rout in stocks.
LONDON (Reuters) - Wall Street looked set to fall on Wednesday as investors worldwide struggled to decide whether a surprise U.S. interest-rate cut the day before was a sign of salvation or of worse to come in troubled markets.
Wall Street looked set to take another beating Wednesday, as investors reacted to a disappointing outlook from Apple and remained haunted by recession fears.
DAVOS, Switzerland (Reuters) - Business performance at Tupperware Brands Corp , best known for its food storage containers sold at in-home parties, is on track and its CEO said on Wednesday he was optimistic about the year ahead.
The European Central Bank has signalled that it will not bow easily to pressure for cuts in eurozone interest rates, even as fresh data showed economic growth had again lost momentum, especially in services Source: FT.com - US homepage | 23 Jan 2008 | 11:23 am
European stocks are under pressure on fears that central banks will not follow the US in slashing interest rates. Source: BBC News | Business | World Edition | 23 Jan 2008 | 11:22 am
Reuters - Business leaders appealed
for more leadership from U.S. and other central banks to head
off an economic downturn on Wednesday, with some accusing
policy makers of losing their grip and their nerve.
DAVOS, Switzerland (Reuters) - Business leaders appealed for more leadership from U.S. and other central banks to head off an economic downturn on Wednesday, with some accusing policy makers of losing their grip and their nerve.
Bank of China dismisses reports it is about to unveil massive losses stemming from problems in the US. Source: BBC News | Business | World Edition | 23 Jan 2008 | 10:56 am
Berkshire Hathaway, the reinsurance group controlled by billionaire investor Warren Buffett, has agreed to take a 3% stake in Swiss Re, the world's largest reinsurance company Source: FT.com - US homepage | 23 Jan 2008 | 10:34 am
The Bank of England's rate-setting Monetary Policy Committee voted 8-1 to keep interest rates on hold in January as inflation worries continue to dominate. Source: Telegraph Business | 23 Jan 2008 | 10:30 am
Forget all those rational explanations about about why foreign stocks markets, especially in Asia, have been melting down for two days. Despite what you've read, seen and heard, those declines weren't caused by fears of what a recession in the U.S. would do to the profits of companies whose stocks trade in places like India, China and Russia.
Sports Direct, the retailer run by the controversial entrepreneur Mike Ashley, has bought almost 5pc of Amer Sports, less than three months after it sold its entire 12pc stake in the Finnish company. Source: Telegraph Business | 23 Jan 2008 | 10:25 am
Rusal, the world's largest aluminium producer, may move its listing from London to Hong Kong, it is reported. Source: BBC News | Business | World Edition | 23 Jan 2008 | 10:24 am
Billionaire investor George Soros tells the BBC it will be very difficult to avoid recessions in the UK and US. Source: BBC News | Business | World Edition | 23 Jan 2008 | 9:55 am
SAN FRANCISCO (Reuters) - Apple Inc on Tuesday forecast a quarterly profit below analysts' expectations and posted disappointing holiday-season iPod shipments, sending its shares down 11 percent in after hours trade on concern consumers were cutting spending.
SEATTLE (Reuters) - Dell Inc and Microsoft Corp are teaming up to release a Product Red computer, donating up to $80 for every one sold to fund AIDS-fighting drugs in Africa.
The US Supreme Court rejects an appeal by Enron investors pursuing banks that put together financing deals. Source: BBC News | Business | World Edition | 23 Jan 2008 | 8:12 am
FT.com - The US is in an exceptionally difficult situation, with the economy on the brink of recession and limited scope for policymakers to ride to the rescue. Source: Yahoo! News: Business | 23 Jan 2008 | 7:35 am
Mining giant BHP Billiton, which aims to buy rival Rio Tinto, reports record half-year production levels. Source: BBC News | Business | World Edition | 23 Jan 2008 | 7:28 am
Asian stocks rebounded after the US Federal Reserve slashed interest rates by 75 basis points – and hinted clearly at more cuts to come – in a bid to arrest the deterioration in the US economy Source: FT.com - US homepage | 23 Jan 2008 | 3:16 am
Apple sees profits surge 57% in the three months to December, but profit forecast disappoints. Source: BBC News | Business | World Edition | 23 Jan 2008 | 2:24 am
Reuters - Apple Inc on Tuesday
forecast a quarterly profit below analysts' expectations and
posted disappointing holiday-season iPod shipments, sending its
shares down 11 percent in after hours trade on concern
consumers were cutting spending.
State-backed investment funds should agree to a code of conduct governing their behaviour or risk being branded "irresponsible" players in the global economy, the chairman of Standard Chartered has warned Source: FT.com - US homepage | 23 Jan 2008 | 12:14 am
Asos, the internet fashion retailer, has revealed bumper Christmas sales and told the market to expect much higher pre-tax profits than previously forecast. Source: Telegraph Business | 23 Jan 2008 | 12:05 am
After yesterday's extraordinary events there will doubtless be no end to the surprises for stock markets throughout 2008. Source: Telegraph Business | 23 Jan 2008 | 12:05 am
It was Bedlam outside Jeejebhoy Towers, India's stock exchange in the financial capital, Mumbai, as thousands of sweating and enraged investors crowded outside, shouting slogans against federal finance minister, P Chidambaram. They tried demolishing an ornate bull's statue outside, but were dispersed by police. Source: Telegraph Business | 23 Jan 2008 | 12:01 am
Andy Stewart, the racehorse-owning stockbroker, has walked away from his proposed £1.6bn takeover of blue-blooded investment bank Close Brothers, amid chaos in the stock markets and a bitter war of words. Source: Telegraph Business | 23 Jan 2008 | 12:01 am
America's Federal Reserve unexpectedly slashed interest rates with the biggest cut in more than 23 years in a spectacular bid to fend off recession and put a floor under tumbling stock markets. Source: Telegraph Business | 23 Jan 2008 | 12:01 am
The threat of a United States recession has caused the first fall in global chief executives' collective confidence for five years, according to an authoritative new report. Source: Telegraph Business | 23 Jan 2008 | 12:01 am
Reuters - Recession worries pushed stocks lower
on Tuesday, but the decline was shallower than feared as an
emergency interest-rate cut by the Federal Reserve helped
stabilize global markets after a two-day rout.
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Reuters - Business leaders appealed
for more leadership from U.S. and other central banks to head
off an economic downturn on Wednesday, with some accusing
policy makers of losing their grip and their nerve.
Reuters - Apple Inc on Tuesday
forecast a quarterly profit below analysts' expectations and
posted disappointing holiday-season iPod shipments, sending its
shares down 11 percent in after hours trade on concern
consumers were cutting spending.
Reuters - Recession worries pushed stocks lower
on Tuesday, but the decline was shallower than feared as an
emergency interest-rate cut by the Federal Reserve helped
stabilize global markets after a two-day rout.