123jump.com Staff
29 Sep, 2008
New York City
U.S. stocks dive after the House defeated bailout plan unpopular with voters. The Senate votes on the proposal on Wednesday. Nervous stock markets plunged more than 7% in the U.S., Canada and Brazil. Oil plunges 8% to $96 a barrel. Gold increases 4% to $930 an ounce.
123jump.com Staff
29 Sep, 2008
New York City
Stocks in Japan in Tuesday trading dropped 5% after benchmark index lost 1.3% on Monday. Finanicals, commodities and shipping lines led the decliners in trading on Monday. The U.S. House voted down the bailout proposal of $700 billion. The U.S. stocks plunged 7% after the stunning defeat.
123jump.com Staff
29 Sep, 2008
New York City
Bradford Bingley, the troubled mortgage lender was seized by the UK Treasury and sold to Abbey National for
123jump.com Staff
29 Sep, 2008
New York City
The Fed in conjunction with eight other central banks in Europe and Asia pumped more liquidity in the market. The revised action will make available $620 billion in dollar liquidity in Europe and will also carry more short term lending auctions.
123jump.com Staff
29 Sep, 2008
New York City
After intense discussions this morning between Fed regulators, the FDIC, and Treasury Secretary and the Board of Governors Citigroup agreed to acquire Wachovia Corp for $2.16 billion. The FDIC will get $12 billion of preferred stock in Citi for bearing any risk to portfolio beyond $42 billion.
123jump.com Staff
26 Sep, 2008
New York City
The U.S. lawmakers struggle to define details and scope of the bailout plan that most citizens view as wasteful and unnecessary. Bank stocks fell after WaMu was seized by the Fed regulators and sold for $1.5 billion to JP Morgan Chase. Wachovia is in negotiation with Citigroup and stock drops 25%.
123jump.com Staff
26 Sep, 2008
New York City
UK benchmark stock index fell 2% after banks and commodities related stocks decline. Weakening domestic economy, tight lending conditions and falling metal prices dragged market indexes lower. The demand for government intervention grew as bankers sought relief in the UK.
123jump.com Staff
26 Sep, 2008
New York City
Hong Kong stocks fell as credit markets weaken in the U.S. and Europe. Ping An will increase its provision for losses after Fortis drops to another low on liquidity concerns. Beijing Airport net income drops 90% on a rise in operating costs and fewer passenger traffic.
123jump.com Staff
26 Sep, 2008
New York City
Australia plans to spend A$4 billion to purchase illiquid mortgage securities and hopes that the move will improve liquidity in the credit markets. Inpex Holdings of Japan picked Darwin for its $20 billion LNG plant after frustration with delays for a location in Western Australia.
123jump.com Staff
26 Sep, 2008
New York City
Consumer price index in Japan rose at a rate faster than wage gains for the fourth month and rose above 2% for the second month in a row. Food, energy and other daily needs continue to rise. In stock trading, shipping lines and steel companies declined.
123jump.com Staff
26 Sep, 2008
New York City
The weakness in financials and realty stocks and dragged the benchmark index lower. Tata Motors fell 3% after the conglomerate sold 1.3% in Tata Steel. Rupee lost 5.6% in the week and dropped as low as 46.97 before recovering to close today at 46.54 to a dollar.
123jump.com Staff
26 Sep, 2008
New York City
U.S. stocks edged lower after lawmakers debate alternatives to the proposed bailout plan from the U.S. administration. Washington Mutual, 120-year old bank was seized and sold by the Federal regulators to JP Morgan. Morgan Stanley, Wachovia and Goldman Sachs dropped. Research in Motion plunged 25%.
123jump.com Staff
25 Sep, 2008
New York City
Washington Mutual, the battered bank was seized by the Federal regulators and sold all of its assets to JP Morgan. The WaMu failure is the largest bank failure in the U.S. history and the bank had $188 billion in deposits but had faced withdrawals of $16.7 billion in the last ten days.
123jump.com Staff
25 Sep, 2008
New York City
U.S. stocks rallied after lawmakers appear to agree on the broad framework of the bailout plan. The plan may release $250 billion immediately but will have the authority to invest up to $700 billion unless the Congress imposes limits at a later date. Markets in Europe and Brazil rise.
123jump.com Staff
25 Sep, 2008
New York City
Stocks in Australia fell after commodities and metal prices declined. Australian banks have less than 1% exposure to the sub-prime loans issued in the country, according to the latest report from the RBA. Australian dollar gained. China based Shagan acquired 45% stake in Australian iron ore company.
