Global finance crisis overshadows francophone summit (AFP)

16.10.2008 22:55 - source: Yahoo! News: Business - European Economy

AFP - The global finance crisis is to overshadow a summit of some 30 French-speaking nations Friday to Sunday in Quebec City, and Canada-EU trade talks on its sidelines, say organizers. Read more…


FTSE sheds 5.35 percent (AFP)

16.10.2008 20:55 - source: Yahoo! News: Business - European Economy

AFP - The London FTSE 100 index of leading shares fell 5.35 percent Thursday to close at 3,861.39 points as recession clouds deepened over the US economy. Read more…


EU united on finance but cracks appear elsewhere (AFP)

16.10.2008 20:55 - source: Yahoo! News: Business - European Economy

AFP - European Union leaders headed home Thursday from a summit that saw unity on fixing the global financial system but schisms when it came to an ambitious climate pact and repairing ties with Russia. Read more…


EU climate pact under veto threat as financial crisis bites (AFP)

16.10.2008 20:15 - source: Yahoo! News: Business - European Economy

AFP - European Union leaders fought growing pressure on Thursday to roll back their climate change plans, standing by their targets and timetable for the package as the financial crisis bites. Read more…


European stocks sharply lower in late trade (AFP)

16.10.2008 19:35 - source: Yahoo! News: Business - European Economy

AFP - European stock markets fell sharply in late trading Thursday on rising fears of a recession in the United States and Europe. Read more…


Annan: Financial crisis undercuts global food aid (AP)

16.10.2008 16:55 - source: Yahoo! News: Business - European Economy

AP - Wealthy nations are reneging on commitments to help feed the world's hungry and may cite the banking crisis as a reason why they cannot do more, former U.N. Secretary-General Kofi Annan told an international conference on combating starvation Thursday. Read more…


European markets drop after Nikkei slump (AP)

16.10.2008 15:35 - source: Yahoo! News: Business - European Economy

AP - European stock markets were lower Thursday after Japan's Nikkei tumbled more than 11 percent overnight amid mounting anxiety that the world economy is plunging into a deep and protracted recession. Read more…


Merrill 3Q loss widens on mortgage-related charges (AP)

16.10.2008 15:05 - source: Yahoo! News: Personal Finance

AP - Merrill Lynch says it third-quarter loss widened as it took more than $12 billion in charges from the sale of mortgage-related investments and fallout from the continued credit crisis. Read more…


EU split over climate change plans during meltdown (AP)

16.10.2008 14:55 - source: Yahoo! News: Business - European Economy

AP - European Union leaders were deeply divided Thursday over calls by Poland, Italy and other countries to dilute and delay an ambitious program to fight global warming to take account of the looming economic downturn. Read more…


Indian shares trim losses tracking Europe (Reuters)

16.10.2008 12:55 - source: Yahoo! News: Business - European Economy

Reuters - Indian shares pared losses to less than 2 percent on Thursday afternoon after falling more than 7 percent early, as European markets came off lows and U.S. stock futures that indicated a higher opening on Wall Street. Read more…


EU to take steps to support industry: draft summit conclusions (AFP)

16.10.2008 12:15 - source: Yahoo! News: Business - European Economy

AFP - The European Commission will come up with proposals by the end of the year to help industry cope with slumping economic activity, according to draft conclusions of an EU summit on Thursday. Read more…


Focus shifts to economy slump, EU to offer aid (Reuters)

16.10.2008 11:35 - source: Yahoo! News: Business - European Economy

Reuters - The global financial crisis shifted gears on Thursday with fears of recession battering financial markets even as governments sought yet more action to pull the world economy from the brink of collapse. Read more…


AIG lobbying to relax oversight rules: report (Reuters)

16.10.2008 08:05 - source: Yahoo! News: Personal Finance

Reuters - Insurance giant American International Group Inc is spending money to lobby states to soften new controls on the mortgage industry, the Wall Street Journal said. Read more…


EU leaders call for global financial overhaul (AFP)

16.10.2008 06:15 - source: Yahoo! News: Business - European Economy

AFP - EU leaders were to wrap up a summit Thursday dominated by the financial crisis with a call for an overhaul of the global financial architecture to avert a repeat of the current turmoil. Read more…


McCain and Obama clash on taxes early in debate (Reuters)

16.10.2008 05:30 - source: Yahoo! News: Personal Finance

Reuters - Republican John McCain and Democrat Barack Obama fought over their tax plans and promised to help working Americans like "Joe the plumber" early in their final presidential debate on Wednesday. Read more…


Fears of world recession mount (AFP)

16.10.2008 04:55 - source: Yahoo! News: Business - European Economy

AFP - Growing fears that the financial crisis will morph into a worldwide recession prompted a new bloodbath on stock markets Wednesday as EU leaders pushed for swift moves to overhaul global finance. Read more…


Italy, Poland threaten to veto EU climate change plans (AFP)

16.10.2008 04:16 - source: Yahoo! News: Business - European Economy

AFP - Italian Prime Minister Silvio Berlusconi threatened Thursday to torpedo the European Union's climate change plans, branding them too big a burden for business amid the global financial crisis. Read more…


EU, US call for a global summit to reshape banking (AP)

16.10.2008 03:00 - source: Yahoo! News: Business - European Economy

AP - The Group of Eight major industrial nations announced Wednesday they will hold a global summit — perhaps as early as November in New York — to forge common action to prevent another economic meltdown. Read more…


EU approves rescue plan to aid financial sector: Sarkozy (AFP)

16.10.2008 02:21 - source: Yahoo! News: Business - European Economy

AFP - Leaders of the 27 European Union nations on Wednesday approved a rescue plan for the troubled financial sector, French President Nicolas Sarkozy announced. Read more…


What Crisis? Kremlin downplays financial woes (AP)

16.10.2008 01:15 - source: Yahoo! News: Business - European Economy

AP - Talking to Russians on the street, you'd be forgiven for thinking there was no economic crisis. Read more…


Crisis bodes ill for climate change talks (AP)

16.10.2008 00:35 - source: Yahoo! News: Business - European Economy

AP - The global financial crisis could hardly come at a worse time for nations seeking a new agreement on climate change that — on top of everything else — will cost tens of billions more dollars. Read more…


EU leaders endorse continent-wide bailout (AP)

15.10.2008 23:15 - source: Yahoo! News: Business - European Economy

AP - EU leaders endorsed a euro1.7 trillion ($2.3 trillion) continent-wide emergency bailout for the banking sector at summit talks Wednesday, and turned to debate other measures to prevent the global financial crisis from stalling the economy. Read more…


British PM Brown sets out plan for finance reform (AP)

15.10.2008 21:15 - source: Yahoo! News: Business - European Economy

AP - British Prime Minister Gordon Brown on Wednesday set out his plan to reform the way the world's banks are governed, saying governments need to work together to stem the reckless and inappropriate lending that has destroyed confidence in financial markets. Read more…


London stocks recoil on recession fears (AFP)

15.10.2008 20:35 - source: Yahoo! News: Business - European Economy

AFP - The FTSE 100 index of shares closed down steeply Wednesday as weak economic data reignited fears of a world recession and dampened the mood of optimism which had prevailed earlier in the week. Read more…


Leading European markets plunge (AFP)

15.10.2008 20:35 - source: Yahoo! News: Business - European Economy

AFP - Leading European stock markets plunged 6.0-7.0 percent at the close of trade Wednesday on mounting fears of recession in Europe and the United States. Read more…


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