Markets
Buy Indian Rupee Against Thai Baht, Brown Brothers Advises
Investors should buy the Indian rupee versus the Thai baht to profit from the South Asian nation’s faster economic growth and higher interest rates, according to Brown Brothers Harriman & Co.
Goldman Sachs executives sell $700 million in stock: report
Goldman Sachs Group Inc (GS.N) executives sold almost $700 million worth of stock since the collapse of rival Lehman Brothers last year, the Financial Times said on Monday.
General Motors exit from the Dow looking more likely
NEW YORK (Reuters) - The potential for changes in the blue-chip Dow Jones industrial average remains high, according to the head of the index's oversight committee, the same day the head of General Motors said bankruptcy had become more likely.
Citigroup seeks permission to pay bonuses: report
Citigroup Inc has asked the U.S. Treasury for permission to pay special bonuses and is looking for ways to free an energy-trading unit from government restrictions, the Wall Street Journal reported on its website on Tuesday.
U.S. may urge BofA and Citi to up capital
U.S. regulators have told Bank of America (BAC.N) and Citigroup (C.N) they may need to raise more capital following stress testing of the two banks, the Wall Street Journal reported.
UAW Would Own Majority Of Chrysler, Source Says
The United Auto Workers would own a majority stake in Chrysler under a deal reached between the company and the union over the weekend, according to a source familiar with the agreement.
India Inflation Slows to 20-Year Low; Rate Cut Likely
India’s inflation slowed to a 20- year low in the first week of April, giving the central bank room to cut interest rates further next week.
U.S. Treasury Secretary Refrains From Labeling China a Manipulator
U.S. Treasury Secretary Timothy Geithner refrained from labeling China a manipulator of the yuan’s exchange rate, backtracking from an assertion he made during his confirmation hearings in January.
Yen, Dollar Gain as Recession Concern Spurs Demand for Safety
The yen and the dollar strengthened against higher-yielding currencies on speculation the global recession will deepen, spurring investors to seek safer assets.
GM shares fall in Frankfurt amid bankruptcy fears
FRANKFURT (Reuters) - Shares in General Motors Corp slumped more than 17 percent in Frankfurt on Tuesday amid growing concern the automaker might file for bankruptcy.
Zimbabwe shelves own currency for a year: report
HARARE (Reuters) - Zimbabwe will not use its own local currency for at least a year, a state newspaper reported on Sunday, while it tries to repair an economy which critics say was destroyed by President Robert Mugabe.
Thai Baht Falls in Offshore Trade on Anti-Government Protests
Thailand’s baht fell to its weakest level this month in offshore trading on concern violent anti- government protests will deter investment and force Prime Minister Abhisit Vejjajiva to step down.
HSBC Seeks $18 Billion in Capital and Cuts 6,100 Jobs
LONDON — HSBC Holdings, the biggest bank in Europe, decided on Monday to finally draw a line under its troubled subprime mortgage lender as it asked investors for £12.5 billion, or about $18 billion, of new capital to prepare for further deteriora...
Japan's economy shrinks at fastest pace since 1974
Japan's economy shrank at an annualised pace of 12.7 percent in the fourth quarter of 2008 -- its worst performance since 1974 -- as the recession deepened, official figures showed Monday.
Nissan to cut 20,000 jobs, forecasts big loss
Japan's Nissan Motor Co. said Monday it would cut 20,000 jobs worldwide and forecast a net loss of 265 billion yen (2.9 billion dollars) in this financial year to March due to the economic crisis.
Joseph Yam sounds 'second wave' alarm
Monetary Authority Chief Executive Joseph Yam warns people about the possibility of a "second wave" in the continuing global financial crisis.
Ford Spends $5.5 Billion in Cash, Ends Worst Year
Ford Motor Co., insisting it can survive without federal loans, said it spent $5.5 billion in cash in the fourth quarter and will tap a revolving credit line after the worst annual performance in its 105-year history.
China's Wen swipes at U.S. debt binge
China's Premier Wen Jiabao blamed the United States' debt-financed spending binge and blind pursuit of profit for the global financial crisis in a speech at the World Economic Forum on Wednesday.
Obama plans tighter financial oversight
WASHINGTON: President Barack Obama and his top advisers sought over the weekend to broaden the appeal of his proposed $825 billion economic-stimulus package and to defend the way they are pushing it through Congress, even as officials said the adm...
Toyota beats GM becoming top automaker
After 77 years, the auto industry turned the page to find Toyota Motor Co. as the new largest automaker in the world, succeeding General Motors Co. amid an economic recession which has battered the U.S. company.