October 12th, 2008
The following is President Bush’s statement Saturday on the financial crisis, as released by the White House. He spoke in the Rose Garden after meeting with financial ministers from the G-7 nations:
Thank you all very much. Good morning. [Treasury] Secretary [Henry] Paulson, Secretary [of State Condoleezza] Rice and I just had a productive discussion with [...]
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October 12th, 2008
John D. McKinnon reports on the financial crisis from Washington.
President Bush’s Rose Garden appearance Saturday morning was meant to provide a reassuring picture of stability — the world’s most powerful leader, standing alongside finance ministers of the seven old-line industrial powers, their flags flapping proudly in the autumn breeze.
But as recent financial shocks have showed, [...]
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October 12th, 2008
WASHINGTON — President Bush and the world’s financial leaders staged repeated displays of unity Saturday to combat an unfolding credit crisis, hoping to calm investors whose panic has spread despite bold and accelerating government action.
While there were no concrete offers of new moves made on Saturday, Mr. Bush pledged anew that his administration was doing [...]
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October 12th, 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.
The Dow Jones fell 456.3 to 8122.2 leading to a 21pc fall over the week after the index on Thursday suffered its [...]
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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.
Filed under: Stock Market Crash 2008, Stock market crash, Stock market hours, Stock market news, Stock market today, Toronto Stocks, U.S. Stock Market, money stock market, online stock market, stock exchange, stock market canada, stock market crash of 1929, stock market history, stock market index, stock market prices | No Comments »
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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