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  • G-20 Summit Agrees On Direction For Dealing With Global Financial Crisis - 17 November 2008
  • While acknowledging that plenty of work lies ahead for world leaders, the two-day G-20 summit held in Washington, D.C., over the weekend is being hailed by the majority as a success. The presidents and prime ministers of the G-20 countries managed to find common ground on the root causes of the crisis, as well as identifying areas that need to be tightened up. A meeting has been set for the end of April 2009 for a review of progress on the various aspects of the game plan agreed to on the weekend.

  • New Mortgage-Related Assistance May Bring Relief To U.S. Homeowners - 12 November 2008
  • On Tuesday, the Bush administration made public a new program aiming to modify mortgages and set back on track the U.S. real estate market. However, experts in the financial sector have been quick to point out that the program is flawed and does not benefit homeowners to the extent that it should, given the current economic crisis.

  • U.S. Markets Enjoy Election Day Rally - 5 November 2008
  • Monday saw U.S. stocks end the day virtually flat, presumably in anticipation of the Tuesday presidential elections. However, on Tuesday, before the outcome of the elections were confirmed, Wall Street rallied quite impressively with the Dow Jones industrial average rising 305.45 points, or 3.28 percent, to close at 9,625.28. The Standard & Poor’s 500 gained 4.08 percent, or 39.45 points to close at 1,005.75, being the first time it has closed above 1,000 since 13 October. The Nasdaq composite index rose 53.79 points, or 3.12 percent, to close at 1,780.12, marking the sixth trading day in a row that the index has risen.

  • U.S. Auto Industry Desperate For Government Bailout - 31 October 2008
  • Further to Wednesday’s article (see "General Motors Seeks Government Aid For Merger With Chrysler"), a Bush administration official revealed late Thursday that the Treasury is not negotiating with automakers on any bailout deal. No reason was given for the decision, but the general consensus among people in the know, is that the Treasury is unwilling to pump large sums of taxpayers money into assisting a merger which would undoubtedly result in the loss of thousands of taxpayer’s jobs, with some estimating the potential job loss figure across the automotive industry to be as high as 90,000.

  • Hedge Funds Take Strain In Volatile Market - 28 October 2008
  • A report by the Bank of England on Tuesday noted that bank credit risks have been reduced and money market pressures have eased off following the recent financial sector bailouts across the United States and Europe. However, the report added that risks in the broader financial system remain, with hedge funds being particularly vulnerable in the current global financial crisis. An increase in redemption requests has put hedge funds under additional funding pressures, resulting in the third quarter of 2008 being one of the worst recorded by hedge funds.

  • Corporate Results Drag Market Down, World Financial Crisis Summit May Restore Hope - 23 October 2008
  • While U.S. credit markets seem to be loosening up a little, investors have no respite from anxiety as the trickle of third quarter corporate results currently being released seems to be turning into a torrent of bad news. Fears of the country entering into a deep recession cannot be put to rest, especially in light of the fact that many corporate companies are trimming their fourth quarter earnings forecasts, indicating expectations of a bumpy road ahead. All major U.S. indexes dropped by more than 4 percent on Wednesday, with the Dow Jones industrial average ending the trading day with a loss of 514 points, or 5.69 percent, while the Standard & Poor’s 500 index dropped by 6.10 percent and the Nasdaq composite index fell by 4.77 percent.

  • Fearful Stock Market Traders Keep Eye on VIX - 20 October 2008
  • After a number of gut-wrenching free falls and sharp reversals in the stock market in recent weeks, traders are hoping that tales of impending doom won’t become a reality. A lot of them are paying attention to the VIX, something that is normally considered a rather obscure index and which is generally barely worth noting.

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