October 11th, 2008
Smaller businesses are now starting to feel the effects of the financial crisis
IN these tough times Philip Fairey is getting used to hearing about his clients “doing a runner”. But a few days ago was the first time he caught one of them in the act.
“We got this message from someone who had been driving [...]
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October 11th, 2008
US stock markets have suffered their worst week on record following another torrid day of trading despite growing hopes that the government could step in to guarantee bank deposits and lending between financial institutions.
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October 11th, 2008
WASHINGTON (MarketWatch) — President Bush urged global finance leaders on Saturday to work together on plans to fix “the serious global crisis” in credit markets. “We’re in this together.
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October 11th, 2008
The Dow Jones Industrial Average capped the worst week in its 112-year history with its most volatile day ever, as hopes for a major international bank-rescue plan were overwhelmed at day’s end by another wave of selling.
Some investors who normally would be jumping to buy beaten-down stocks after a 22% drop over eight trading days [...]
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October 11th, 2008
Treasury planning a program to attract private capital alongside public capital to financial institutions.
NEW YORK (CNNMoney.com) — Treasury Secretary Henry Paulson said on Friday that the U.S. government was working on a plan to buy stock in financial institutions by using part of the $700 billion authorized by Congress to stabilize the financial system.
“We are [...]
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October 11th, 2008
The troubled automaker issues a statement saying that it is not considering bankruptcy, after its shares sank 31% in Thursday trading.
NEW YORK (CNNMoney.com) — General Motors is not considering bankruptcy, the company said in a prepared statement Friday. The announcement was in response to the automaker’s precipitous stock price decline the previous day, a spokesman [...]
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October 11th, 2008
General Motors insisted yesterday that bankruptcy was not an option, despite facing what it described as “unprecedented challenges”.
Fears have been growing that the biggest US carmakers, GM and Ford, are close to calamity as the crisis in the financial markets has bled into the real economy.
Shares in the pair were back under pressure in early [...]
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October 11th, 2008
It was another week of worsts:
The Toronto Stock Exchange’s main index suffered its worst weekly loss in almost 70 years. The Canadian dollar had its biggest one-day drop in almost 40 years.
As hundreds of billions in bailout money fails to stem investor panic, a look at some of the questions on the minds of consumers [...]
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October 11th, 2008
Markets to worsen before stocks hit rock bottom
So, in these uncertain times, what to do about your stock portfolio?
Some of us might be tempted by the bargains emerging in the incredible shrinking stock market. But we’re waiting to exhale.
Since last fall, when the looming global credit crisis first began to command the attention of the [...]
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October 11th, 2008
NEW YORK (CNNMoney.com) — Seized-up credit markets began to see the first small signs of easing Friday, but anxiety over the long-term prospects for recovery is keeping lenders mostly sidelined.
The overnight interbank lending rate, known as Libor, fell by half, suggesting that banks are becoming more willing to lend to each other in the very [...]
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