NKorea off US blacklist after nuke inspection deal
After North Korea relented on nuclear inspection demands, the U.S. on Saturday erased from a terrorism blacklist the communist country President Bush once branded part of an "axis of evil."
Nations:South Korea Japan Russia North Korea People:Christopher Hill Barack Obama John McCain Condoleezza Rice Kim Jong Il Activities:Korea Nuclear Crisis North Korea-U.S. Source:(AP)
2008-10-11
Bush, allies pledge joint action on global crisis
President Bush and foreign financial officials displayed joint resolve Saturday to combat the unfolding financial crisis, hoping to calm investors whose panic has spread despite bold and accelerating government action.
Nations:Germany U.K. France India Brazil Italy People:Henry Paulson Joseph Biden Barack Obama John McCain Activities:2007 Global Credit Crunch Bush Admin.
2008-10-11
Stocks end worst week mixed after wild session
Wall Street capped one of its worst weeks ever with a wild session Friday that saw the Dow Jones industrials gyrate within a 1,000 point range before closing with a relatively mild loss and the Nasdaq composite index actually ending with a modest advance. Investors were still agonizing over frozen credit markets, but seven days of massive losses and the possibility of further government support for the markets tempted some investors late in the session.
Nations:Japan Russia France Activities:2007 Global Credit Crunch U.S. Markets
2008-10-10
European markets plunge again; Nikkei plummets
European stock markets slumped in early trading Friday following massive sell-offs on Wall Street and Asia as lending rates between banks continue to rise despite this week's efforts by central banks to break the logjam in credit markets.
Nations:Japan India Russia Germany Philippines France Activities:2007 Global Credit Crunch Japanese Markets European Markets Source:(AP)
2008-10-10
Oil plummets below $83 on global slowdown fears
Oil prices plummeted to a one-year low below $83 a barrel Friday in European trading as investor fears of a severe global economic downturn caused by the crisis in credit markets sparked a panicked sell-off of both crude and equities.
Nations:Australia Germany Japan Activities:2007-8 Oil Crisis Source:(AP)
2008-10-10
GM shares tumble 31 percent to 58-year low
Shares of General Motors Corp. lost nearly one-third of their value Thursday, plunging to their lowest level in more than 58 years after Standard & Poor's said the automaker's credit could fall further into junk status due to the "rapidly weakening state" of the global automotive market.
Nations:U.S. Activities:2008 Automakers Downturn Source:(AP)
2008-10-09
Fed, central banks cut rates to aid world economy
In a rare coordinated move, the Federal Reserve and other major central banks from around the world slashed interest rates Wednesday to prevent a mushrooming financial crisis from becoming a global economic meltdown.
Nations:Switzerland Germany Sweden Japan France Canada People:Ben Bernanke Barack Obama John McCain Activities:2007 Global Credit Crunch
2008-10-08
Trio wins chemistry Nobel for protein breakthrough
Two Americans and a Japanese researcher won the 2008 Nobel Prize in Chemistry Wednesday for the discovery of a glowing protein in jellyfish that helps scientists spot the onset of illnesses such as cancer and Alzheimer's disease.
Nations:Sweden Japan Source:(Reuters)
2008-10-08
Nikkei dives 9.4 percent, biggest 1-day fall since '87
The Nikkei average plunged 9.4 percent on Wednesday, its biggest drop since the 1987 stock market crash, as growing fears of a global recession led investors to wipe $250 billion off the value of Tokyo shares.
Nations:Japan India Russia Activities:2007 Global Credit Crunch Japanese Markets Source:(Reuters)
2008-10-08
Stocks tumble as Street worries about financials
The misery worsened on Wall Street Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the financial sector.
Nations:Germany Japan France Australia People:Ben Bernanke Activities:2007 Global Credit Crunch U.S. Markets
2008-10-07
3 win Nobel for subatomic physics research
STOCKHOLM, Sweden - Two Japanese citizens and an American won the 2008 Nobel Prize in physics on Tuesday for discoveries that help explain the behavior of the smallest particles of matter.
Nations:Japan Sweden
2008-10-07
Asian markets mixed after Australia's big rate cut
SEOUL, South Korea – Asian stocks were mixed Tuesday as a big interest rate cut in Australia helped spur recoveries in several regional markets, sparking hopes that other central banks will lower rates to help loosen the global credit crunch.
Nations:Australia South Korea Japan France Activities:Asian Markets 2007 Global Credit Crunch
2008-10-07
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