TOP 100 FINANCIAL SITES
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| U.S. inflation data raise stagflation fears, weigh on the dollar The dollar traded lower against major currencies Tuesday, retreating after an unexpectedly sharp rise in the producer price index heightened fears that the U.S. economy may end up in the grip of stagflation. The dollar index, which measures the greenback against a basket of six major currencies, was at 75.189, down from 75.498 in late U.S. trading Monday. The Labor Department said producer prices climbed by 1% last month, pushed higher by energy prices and the biggest increase in food prices in more than three years. feeds.marketwatch.com |
Bear shares sink as concerns about mortgages weigh Bear Stearns Cos. shares fall sharply, at one point heading for their biggest one-day percentage drop since the October 1987 stock market crash, on concern about the brokerage firm's dealings with counterparties and its ability to finance exposures to mortgage securities. feeds.marketwatch.com |
UBS, Deutsche Bank Wallow in Write-Downs GENEVA (AP) -- Two of Europe's largest banks, UBS and Deutsche Bank, disclosed Tuesday that they are writing down billions more in bad investments, reflecting the unrelenting wave of woe from the U.S. subprime crisis.... hosted.ap.org |
Citigroup posts $5.11 bln loss, to cut 9,000 jobs NEW YORK (Reuters) - Citigroup Inc posted a $5.11billion quarterly loss on Friday and said it will cut another9,000 jobs after suffering billions of dollars of write-downstied to mortgages, other debt and a slumping economy. feeds.reuters.com |
ADB to meet amid economic slowdown, rising food prices The Asian Development Bank (ADB) will hold its annual meeting this weekend amid economic slowdown in the world's most dynamic region and rising food prices which hit the poorest most. When some 3,000 leaders of government, the priva ... english.people.com.cn |