English news - Business 9

2008-10-13 06:51:00

SYDNEY (AFP) - Australia is not facing a recession but the global financial crisis will impact its economy, which has enjoyed more than a decade of strong growth, Assistant Treasurer Chris Bowen said Monday. While the financial turmoil that has battered g

2008-10-13 06:46:00

Hong Kong share prices opened 2.4% higher on Monday, rebounding from their worst weekly decline in a decade after worldwide measures to ease the global financial crisis. The Hang Seng index, which tumbled more than 7% on Friday, opened up 359.29 points at

2008-10-13 06:22:00

KUALA LUMPUR (Reuters) - The world readied on Monday for a slew of bank bailouts worth hundreds of billions of dollars in an effort to staunch the credit rout that threatens to tip the global economy into recession. Britain is expected later on Monday to

2008-10-13 05:56:00

PERTH (Reuters) - Oil climbed more than $2 on Monday, recouping part of Friday's 10 percent dive as European leaders took bolder steps to pull the banking sector out of crisis, but some gains faded as traders curbed their initial enthusiasm. Countries

2008-10-13 05:22:00

NEW YORK (AFP) - US banking giant Morgan Stanley is seeking to salvage a nine-billion-dollar deal to sell 21 percent of its capital to Japan's Mitsubishi UFJ Financial Group, The New York Times has said. Negotiations between the two banks amid the current

2008-10-13 05:14:00

HONG KONG (Reuters) - Most Asian stock markets rose slightly on Monday after policymakers around the world took increasingly bold steps to rescue the financial system, including guaranteeing bank deposits and taking stakes in banks. However, the yen and g

2008-10-13 05:08:00

WASHINGTON (AFP) - The US Federal Reserve has approved Wells Fargo's takeover of troubled banking rival Wachovia, a deal which would create the largest bank branch network in the United States. "The Federal Reserve Board on Sunday announced its approval o

2008-10-13 03:30:00

Sir Fred Goodwin is to leave his job as Chief Executive of Royal Bank of Scotland, according to Sky sources. He had been under pressure after the drop in the bank's share price.He was also criticised for pursuing the takeover of the Dutch bank ABN AMRO la

2008-10-13 03:11:00

HONG KONG (Reuters) - Australian and South Korean shares bounced on Monday after policymakers around the world took increasingly bold steps to staunch the bleeding in financial markets, including guarantees on bank deposits and directly injecting capital

2008-10-13 02:48:00

SYDNEY (AFP) - Australian shares jumped 5.7 percent in early trade on Monday after the government guaranteed bank deposits following a breathtaking stocks plunge last week. The benchmark S&P/ASX 200 rose 225.9 points to 4,186.6, while the broader All