Mar 06, 2009 4:48 AM ET
European stocks fell sharply on economic concerns after leading central banks in Europe cut a half-point interest rate and economic data from the US, Germany and the euro region confirmed the deepening of recession. ECB and BoE lowered rates by 0.5% and ECB lowered growth estimate.
Mar 06, 2009 3:35 AM ET
Australian benchmark index fell 1.4% after Reserve Bank of Australia board member and chairman of Telstra warned that economic conditions in the country are deteriorating precipitously. Australian economy is expected to slip into recession during the second half of this year.
Mar 05, 2009 2:42 PM ET
General Motors Corporation led the decliners in the S&P 500 index with a loss of 11.3%. PetSmart, Inc fourth quarter net rises. Toll Brothers, Inc first quarter sales surged 51.4%. Urban Outfitters, Inc fourth quarter net falls 24%.
Mar 05, 2009 2:23 PM ET
European averages fell sharply after the Bank of England and ECB cut key rates to a record low. The BoE prepared to print money, a highly inflationary step that may hamper the economic growth in the longer term. Investors were also shaken by news that UK house prices fell further in February.
Mar 05, 2009 1:35 PM ET
Reserve Bank of India lowered its key lending rate to 5% to stimulate demand and maintain liquidity in the financial system. The latest measure of wholesale inflation declined. Stocks fell as foreign investors sell stocks and drive rupee to near record low. Tata Motors credit rating downgraded.
Mar 05, 2009 1:05 PM ET
China targeted economic growth of 8% in the current year and Premier Jiabao did not expand its current stimulus package of Rmb4 trillion. Stocks fell in Shanghai and Hong Kong after surging in previous session ahead of the announcement. Hutchison Telecom surged 10%.
Mar 05, 2009 6:48 AM ET
Corporate profits in Japan plunge 65% and companies slash capital spending 18% as domestic and export markets shrink. Japan in the latest quarter ending in December suffered worst economic decline in more than five decades. Stocks rallied on the gains in the region on China spending plan.
Mar 05, 2009 4:50 AM ET
Australian trade surplus rises to A$970 million in January. Tight credit conditions weighed on housing approvals and dropped 3.7% to 9,312 units in January. The Australian regulator extends ban on covered short-selling of financial securities.
Mar 04, 2009 6:10 PM ET
Stocks around the world closed higher as mining companies and commodities rebounded. General Electric and General Motors dropped a multi-decade low. U.S. lawmakers draft a legislation to let courts change terms of troubled mortgage loans.
Mar 04, 2009 4:40 PM ET
Stocks in UK and Europe closed sharply higher on a rise in consumer confidence in UK and a gain in commodities related stocks. Rio Tinto and BHP Billiton surged more than 13%. ITV annual loss surged to £2.7 billion and plans to eliminate 600 jobs and through restructuring save £245 million in 2011.