Category Archives: Finance and BusinessUS President Barak Obama has been given a crude welcome by the US stock markets with the markets touching multi year lows ever since his election to the highest office was announced few weeks back. On Thursday the markets were seen at mutli year lows with over 6% drop on that day alone, after a […]
The US FED, European Central Bank, and central banks of four other countries reduced their bank lending interest rates, in an unprecedented co ordinated effort to bail out the US and Europe from the financial crisis that has been haunting the entire system for the last few months. The liquidity in entire US and European […]
The indian central bank , the Reserve Bank of India, has reduced the Cash Reserve Ratio, called CRR, by a massive 50 basis points with effect from next week. The announcement was made two days back, in a totally unexpected adhoc fashion, due to the increasing credit crunch in the Indian banking system. Few […]
The European financial system has been badly hit in the last few months with the spill over effect of the US financial crisis. At least four top banks and housing finance companies have gone bust across Europe in the last few weeks, and these have been bailed out at the cost of over 30 billion […]
The 700 billion dollar financial bail out package, proposed by Bush administration with some changes, were passed by the US senate yesterday ,thus paving the way for some constructive repairs to the extra ordinary damages to the US financial system. This may only the inevitable fall of US financial system in coming months, aver experts, […]
After the sinking of many big US bankers in the last few weeks, it is now the turn of investors of Europe to face the sinking music. Yesterday one of the largest European Banks , Fortis, went under the carpet and was bailed out by three European governments through billions of dollars pumping in. Also […]
The US stock markets posted their steepest one day fall of nearly nine percent today, with Nasdaq and SandP falling by around nine percent. Dow Jones posted a relatively lesser 7% decline. The steep drop was due to the rejection of the 700 billion dollar bail out deal by the US congress. The deal now […]
Mark Faber, one of the successful financial gurus of the world, has said that the 700 billion dollar bailout plan by the US government may not be able to avoid US and the world getting into recession. He said that the actual problem of house prices going down and increasing delinquencies is only expected to […]
Washington Mutual inc. which is one of the largest deposit banks of US went under the carpet today with the Thrift authorities announcing that the bank is unsafe. This was due to the abnormal withdrawals to the tune of over 16 billion dollars by depositors over the last two weeks. The bank’s deposits business alone […]
US FED and US Treasury Secretary Paulson may have tough times ahead because the US congress is totally divided on whether to clear the 700 billion dollar bail out plan for the financial system. Many US congressmen have been questioning the speed at which the bill is being pushed by the Government and also questioning […]
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