Archive for October, 2008

Japanese Notes Post Biggest Monthly Gain in a Year on Rate Cut

Nov. 1 — Japan’s five-year notes posted their biggest monthly gain in more than a year in October as the central bank cut interest rates to help bolster economic growth. (38 mins ago)

U.K. Consumer Confidence Index Falls Close to Lowest Since 1974

Oct. 31 — U.K. consumer confidence dropped in October close to the weakest level since at least 1974 as the financial crisis spooked British shoppers, GfK NOP said. (57 secs ago)

US Federal Reserve cuts key rate by half point to 1%

WASHINGTON: The US Federal Reserve cut a key interest rate by a hefty half-percentage point on Wednesday to prevent a widening credit crisis from tipping the United States into a deep and prolonged recession. (6 mins ago)

GM Chief Wagoner Is Said to Personally Lobby for Aid

Oct. 28 — General Motors Corp. Chief Executive Officer Rick Wagoner is personally leading a lobbying push for federal aid as the biggest U.S. automaker seeks to merge with Chrysler LLC, people close to the discussions said. (2 mins ago)

AP Financial NewsBrief at 7:15 p.m. EDT

NEW YORK _ Wall Street has ended another highly volatile session with a big last-minute loss as the market’s stubborn worries about a protracted economic downturn and tight credit erased budding optimism about a housing sector recovery. (2 mins ago)

30-year mortgage rates drop to five-week low

WASHINGTON — Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five weeks. (1 day ago)

Traders relieved despite Dow ending down 4 percent

If ever a 300-point loss on Wall Street could be a good thing, it was Friday. Wall Street started the day with a nervous eye on how far stocks would have to fall before triggering emergency trading halts. They ended the session relieved, even though the Dow Jones industrial average closed down 312, or 3.6 percent, its lowest finish since the financial crisis began six weeks ago. (13 mins ago)

Cwb Slashes Pros

WINNIPEG – Oct 23/08 – SNS — The Canadian Wheat Board continued to decrease its price outlook for the 2008-09 marketing year, sharply reducing projected returns for all marketing pools. (10 mins ago)

Ca-business Summary

TORONTO – The Toronto Stock Exchange’s main index closed nearly 6 percent lower on Wednesday as resource issues sank along with commodity prices on concerns that a global economic slowdown will slash demand. (1 min ago)

Ca-business Summary

TORONTO – The Toronto Stock Exchange’s main index ended its brief winning streak by plunging more than 450 points on Tuesday, as it was hit by disappointment over a smaller-than-expected rate cut by the Bank of Canada and by falling commodity prices. (4 mins ago)