Brazilian Real Continues to Fall
The Real has declined 30 percent against the dollar as weak performance and fears over the global financial crisis turns investors away from the higher-yielding, but higher risk emerging markets.More
U.S. Stocks Slammed Amid mostly Soft Retail Sales
U.S. stocks on Thursday thudded lower for a second day, pushing the Dow Jones Industrial Average under 9,000 for the first time in a week, as mostly bleak retail sales and a lowered outlook from Cisco Systems Inc. underscored the troubled economy. More
Slowdown Hits Germany’s Exports
The global economic slowdown has drastically reduced the worldwide demand for German goods, government figures have shown. Orders for goods produced by the world’s largest exporter fell 8% between August and September, marking the steepest decline since the reunification of west and east Germany in 1990.. More
IMF Cuts Economic Growth Forecast
The International Monetary Fund (IMF) has become even gloomier about the prospects for the world’s economies. It is predicting that developed economies as a whole will shrink by 0.3% next year, having predicted growth of 0.5% less than a month ago. More
Rahm Emanuel Accepts Post as White House Chief of Staff
Representative Rahm Emanuel, a fierce and consummate navigator of the capital’s political terrain, on Thursday accepted President-elect Barack Obama’s offer to become his White House chief of staff. More
Mortgage Lenders Refuse to Pass on Base Rate Cut
Britain’s biggest mortgage lenders have ignored calls from the Government to pass on today’s cut in interest rates to struggling homeowners. More
