US GDP Contracts
Fri, 31 Oct 08 05:00 am
US GDP has contracted by 0.3% for the third quarter triggering another round of risk aversion for global investors.
UBS Announces Debt Write-Off as Producer Price Index Climbs
Thu, 30 Oct 08 05:00 am
Swiss Bank UBS announces �5.1 billion dollar write-offs of bad debts, the Producer Price Index shows the highest annual jump in over a decade and house prices continue to fall as the credit crunch enforces strict lending criteria for banks.
Pound Continues to Slide as King Warns of Slowdown
Thu, 30 Oct 08 05:00 am
The Pound continued to slide yesterday against the Dollar and the Euro, as King warns of further slowdown before recovery.
US Dollar Gains While Others Continue to Slide
Thu, 30 Oct 08 05:00 am
Europe teeters on brink of recession amidst news of negative growth in the second quarter while the comeback of the US Dollar continues to force other major currencies to slide.
US Dollar Stabilizes as Major Banks Announce Losses
Thu, 30 Oct 08 05:00 am
The US Dollar continued to stabilise over the weekend, perhaps indicating a new phase in the rehabilitation of the US currency as well as relief for US importers and UK and European exporters.
US Dollar Slows as UK House Prices Fall
Thu, 30 Oct 08 05:00 am
A brief glitch in the slow but steady rise of the US Dollar was experienced yesterday in reaction to the recovery in commodity prices and UK home ownership data adds to recession fears.
Pound Remains in Lull
Thu, 30 Oct 08 05:00 am
The Bank of England has opted to maintain their position in the interest rate dilemma and Euro-Pound conversion rates fall even further overnight.
Retail Data Defies Expectations
Thu, 30 Oct 08 05:00 am
ONS figures indicating that retail spending has increased, despite the effects of the credit crunch, has been met with a mixed reaction from retailers and economists.
Dollar Continues to Climb
Thu, 30 Oct 08 05:00 am
The Pound and the Euro have continued to slide against the US dollar as the threat of recession becomes more vivid for the UK.
Weak Euro and Pound Support Dollar
Thu, 30 Oct 08 05:00 am
The Euro and the Pound remained weak overnight against the Dollar, dipping to 2 year and 6 month lows respectively.
Pound and 'Overvalued' Euro Decline
Thu, 30 Oct 08 05:00 am
The Pound has hit a 12 year low in a trade weighted index against a basket of major currencies this week and the Euro declines following comments it has been �overvalued� of late.
Pound Trims Losses against Euro and Dollar
Thu, 30 Oct 08 05:00 am
The Pound has made a slight recovery from its unprecedented low against the Euro as service sector data shows progress has been made.
Dollar Gains from Economic Uncertainty
Thu, 30 Oct 08 05:00 am
The US Dollar continued its ascent yesterday reaching a seven month high against the Euro, while the Pound fell even further following OECD economic forecasts.
Pound in Freefall
Thu, 30 Oct 08 05:00 am
Pound continues to freefall against the Dollar and the Euro as Darling�s comments this week reinforced negative perceptions of the UK economy.
Rate Cuts Revive Markets
Thu, 30 Oct 08 05:00 am
Stocks rallied overnight in response to US interest rate cuts and $120 billion worth of financial assistance was made available for South Korea Brazil, Singapore and Mexico by the Federal Reserve.
Markets Rally Worldwide
Wed, 29 Oct 08 05:00 am
Equity markets throughout the world have rallied overnight as government intervention assists credit flows and US led interest rate cuts look certain.
Markets Weaken on Recession Fears
Tue, 28 Oct 08 05:00 am
Global equities brace themselves for an extended decline as global recession undermines government support for markets.
$2.8 Trillion Cost of Crisis
Tue, 28 Oct 08 05:00 am
The Bank of England Financial Stability Report released this morning has claimed losses of $2.8 trillion to the global economy over the credit crisis.
Pound out in the Cold
Fri, 24 Oct 08 06:00 am
UK and European currencies remain out in the cold this week as the US dollar continues to rally. Negative press and low consumer confidence continue to blight the pound as it remains in all time lows against the other major currencies.
US Rescue Package Dips Dollar
Fri, 24 Oct 08 06:00 am
News today of the US Treasury�s decision to bail out Freddie Mac and Fannie Mae, who are responsible for half the US mortgage industry, has led to a dip in the Dollar against other major currencies.
Dollar Stays Strong
Fri, 24 Oct 08 06:00 am
The Dollar stays strong while Euro weakens further overnight, while small town Britain decides to opt out of the credit crunch with the creation of a local currency.
Pound Recovers vs Dollar, Euro
Fri, 24 Oct 08 06:00 am
The Pound enjoyed a slight resurgence in the markets yesterday, up against the US and the Euro.
Euro in Downward Slide
Fri, 24 Oct 08 06:00 am
The Euro declines further, Dollar stays strong and a mixed performance from Sterling have characterised this week as markets continue to tread water in a quiet week for economic data.
Dollar Falls against Sterling, Euro
Fri, 24 Oct 08 06:00 am
Sterling rebounds against the US Dollar and Euro as Lehman Brothers continues to plague markets in the US.
Lehman Bankruptcy Shocks Markets
Fri, 24 Oct 08 06:00 am
Lehman Brothers, the fourth largest investment bank in the US, has filed for bankruptcy this morning, sending shockwaves throughout the financial world.
Lehman Collapse Dominates Markets
Fri, 24 Oct 08 06:00 am
The bankruptcy of Lehman Brothers has cast a shadow over global markets, dominating the financial news this morning.
Federal Reserve Rescues AIG
Fri, 24 Oct 08 06:00 am
The Federal Reserve has stepped in with an $85 billion Dollar rescue package for American insurance giant AIG, just 10 days after the temporary nationalisation of Freddie Mac and Fannie Mae, and 3 days after the declared bankruptcy of Lehman Brothers.
Market Disruption Continues
Fri, 24 Oct 08 06:00 am
Another tumultuous day for financial markets as they absorbed the Federal bail out of AIG and reacted to news that Lloyds TSB is set to acquire HBOS in the largest merger in British history.
Confidence Restored as Fed comes to Rescue
Fri, 24 Oct 08 06:00 am
Short sellers come under fire from the FSA and SEC as the Federal Reserve hatches a plan to restore market stability and alleviate �toxic� debts.
Sterling gains on weakening Dollar
Fri, 24 Oct 08 06:00 am
Sterling gains strength against the weakening Dollar. Goldman Sachs and Morgan Stanley are to operate commercially following seismic changes in Wall Street.
US Dollar Weakens
Fri, 24 Oct 08 06:00 am
The US Dollar has weakened overnight against its major currency partners as uncertainty over the logistics of the Federal Reserve�s plan lead to nervous investors and market volatility.
Dollar Regains Strength
Fri, 24 Oct 08 06:00 am
The US Dollar has strengthened overnight as a series of amendments make it likely the bill will gain Congressional approval.
British Rescue Plan Announced
Fri, 24 Oct 08 06:00 am
Gordon Brown and Alistair Darling have this morning announced the British version of a rescue package for trouble banks as the UK economy enters recession in the third quarter.
Global Equities Plummet
Fri, 24 Oct 08 06:00 am
Global equity markets are in shock this morning having shed billions overnight as fear and panic continue to plague market movements.
Market Unease Continues
Fri, 24 Oct 08 06:00 am
While markets across the world have recovered some upward momentum in the wake international bail out packages, the prospect of global recession remains imminent and early gains in Wall Street ran out of steam by the close of yesterday�s trading.
Markets Plummet Again
Fri, 24 Oct 08 06:00 am
Global shares went plummeting further last night as US economic data triggered panic of a looming recession.
Recessionary Evidence Mounts
Fri, 24 Oct 08 06:00 am
Sterling has gained overnight, reaching a 6 month high over the US Dollar as recession looks likely for US, UK.
Markets Turn Positive
Fri, 24 Oct 08 06:00 am
Equity markets throughout the world have begun the week in a positive frame of mind as government action appears to have eased the crisis mentality.
Sterling Under Pressure
Fri, 24 Oct 08 06:00 am
Sterling plunges to new low as King, Brown, confirm recession fears.
UK GDP Contracts
Fri, 24 Oct 08 06:00 am
UK GDP has contracted for the first time since 1992 as domestic conditions put pressure on Sterling internationally.
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