Currency Market Snapshot Open High Low EURUSD 1.38837 1.39351 1.38587 EURGBP 0.86386 0.865175 0.86288 GBPUSD 1.60725 1.61255 1.60295 EURJPY 128.952 130.018 128.092 USDJPY 92.8825 93.5175 92.38 Commentary: Yen crosses stabilise following a heavy selling. US equities closed falt and the Nikkei was down by 1.38%. The Aussie, USD and EUR [...]
The Republic of Ireland’s announced yet more measures to support its tormented banking industry. The government said it would invest EUR3.5 billion in each of Bank of Ireland and Allied Irish Bank, the country’s two largest banks. The EUR 7 billion cash injection will be funded from the taxpayers’ money – or as the official [...]
Is General Motors and Chrysler in merger talks? This rumour was doing the rounds again yesterday, following a report in the WSJ. GM denied this was the case, with a spokesperson stating ” I can say unequivocally we are not in any merger talks with Chrysler”. Manufacturing shut downs: GM halted production of the Volt [...]
Woolworths was about to celebrate its 100th birthday this year, but instead of appointing party organizers to celebrate its century long history of success it had to appoint administrators after a vain last minute attempt to sell stores to raise cash.
Iceland’s stock market index (OMX Iceland 15 Index) has hit rock bottom, losing 77.22% of its value in a single day. Iceland’s benchmark index last value was standing at 3004.62, when regulators decided to halt trading to prevent a freefall. The stock market suspension lasted for 3 days, since 9th of October and it was [...]
Regulators halt stock trading in emerging-market exchanges. Is this for real? Further turmoil, instability and more less of everything (cash, investments, credit) is the emerging markets world’s response to greedy Wall Street today. The last week has been the worst for the emerging markets in almost a quarter of a century, and for some stock [...]
In a dramatic blow for Bush administration and his team of economists, the Congress finally rejected the $700 bailout package plan. The decision has sent shock waves
Lehman Brothers Holdings Inc has been forced to file for bankruptcy after spending a weekend trying to persuade either Barclays Plc or Bank of America, that the biggest underwriter of mortgage-backed securities still has some worth. He failed.
‘Fannie and Freddie’ – it sounds like the title of happy Disney family movie, but yet to many these two names are the equivalent of a horror film they do not necessarily want to watch.
Good news for business owners – bad news for property developers. The global credit crunch is now taking a bite of office lease rents. The mortgage meltdown is finally reaching its tentacles into commercial real estate both in the US and in the UK.
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