- 123jump.com Staff
- 30 Sep, 2008
- New York City
U.S. Stocks recover at mid-day trading on the hopes that the Congress will pass a revised bailout plan. European markets closed higher. Dexia SA, the Belgian bank will receive an emergency financing of 6.6 billion euros after Fortis needed 11.2 billion from the government.
- 123jump.com Staff
- 29 Sep, 2008
- New York City
Stocks in Hong Kong plunged after investors worried that the widening credit market crisis in the U.S. may slowdown Chinese exports. China suspended iron ore imports from Brazil, after miner Vale raised prices by 11%. Sun Hung Kai dropped 5% after HSBC raised mortgage rates.
- 123jump.com Staff
- 29 Sep, 2008
- New York City
Benchmark index in Mumbai, India dropped sharply after U.S. credit markets jitters dragged markets in Asia lower. Rupee dropped to a 12-year low as state controlled oil companies lock payment for imports. Suzlon Energy dropped 12%. The U.S. House approves nuclear deal with India.
- 123jump.com Staff
- 29 Sep, 2008
- New York City
Australian stocks closed lower on Monday after markets in Asia and commodities prices fell. The benchmark index dropped 2% ahead of the closely watched vote on the U.S. House floor for the emergency financial package. Separately, RBA injected additional liquidity to money markets.
- 123jump.com Staff
- 29 Sep, 2008
- New York City
The U.S. House in a rebuke to the President defeated the bailout plan by a vote of 228 to 205. The frustrated House members are worried that the plan will not save the U.S. economy from sliding into a recession and saddle the nation with a huge debt. Stock market indexes plunged between 7% and 9%.
- 123jump.com Staff
- 29 Sep, 2008
- New York City
U.S. stocks dive after the House defeated bailout plan unpopular with voters. The Senate votes on the proposal on Wednesday. Nervous stock markets plunged more than 7% in the U.S., Canada and Brazil. Oil plunges 8% to $96 a barrel. Gold increases 4% to $930 an ounce.
- 123jump.com Staff
- 29 Sep, 2008
- New York City
Stocks in Japan in Tuesday trading dropped 5% after benchmark index lost 1.3% on Monday. Finanicals, commodities and shipping lines led the decliners in trading on Monday. The U.S. House voted down the bailout proposal of $700 billion. The U.S. stocks plunged 7% after the stunning defeat.
- 123jump.com Staff
- 29 Sep, 2008
- New York City
Bradford Bingley, the troubled mortgage lender was seized by the UK Treasury and sold to Abbey National for
- 123jump.com Staff
- 29 Sep, 2008
- New York City
The Fed in conjunction with eight other central banks in Europe and Asia pumped more liquidity in the market. The revised action will make available $620 billion in dollar liquidity in Europe and will also carry more short term lending auctions.
- 123jump.com Staff
- 29 Sep, 2008
- New York City
After intense discussions this morning between Fed regulators, the FDIC, and Treasury Secretary and the Board of Governors Citigroup agreed to acquire Wachovia Corp for $2.16 billion. The FDIC will get $12 billion of preferred stock in Citi for bearing any risk to portfolio beyond $42 billion.
- 123jump.com Staff
- 26 Sep, 2008
- New York City
The U.S. lawmakers struggle to define details and scope of the bailout plan that most citizens view as wasteful and unnecessary. Bank stocks fell after WaMu was seized by the Fed regulators and sold for $1.5 billion to JP Morgan Chase. Wachovia is in negotiation with Citigroup and stock drops 25%.
- 123jump.com Staff
- 26 Sep, 2008
- New York City
UK benchmark stock index fell 2% after banks and commodities related stocks decline. Weakening domestic economy, tight lending conditions and falling metal prices dragged market indexes lower. The demand for government intervention grew as bankers sought relief in the UK.
- 123jump.com Staff
- 26 Sep, 2008
- New York City
Hong Kong stocks fell as credit markets weaken in the U.S. and Europe. Ping An will increase its provision for losses after Fortis drops to another low on liquidity concerns. Beijing Airport net income drops 90% on a rise in operating costs and fewer passenger traffic.
- 123jump.com Staff
- 26 Sep, 2008
- New York City
Australia plans to spend A$4 billion to purchase illiquid mortgage securities and hopes that the move will improve liquidity in the credit markets. Inpex Holdings of Japan picked Darwin for its $20 billion LNG plant after frustration with delays for a location in Western Australia.
- 123jump.com Staff
- 26 Sep, 2008
- New York City
Consumer price index in Japan rose at a rate faster than wage gains for the fourth month and rose above 2% for the second month in a row. Food, energy and other daily needs continue to rise. In stock trading, shipping lines and steel companies declined.