Stock futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes were up 1.5-2 percent on Wednesday, pointing to a higher start on Wall Street. General Motors' (GM.N) Saab brand has received interest from several potential bidders including China's Geely Automobile (0175.HK) and Dongfend Motor Group (0489.HK), sources with
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President of the European Union Committee of the Regions (CoR) Luc Van den Brande has said that the Committee is preparing an opinion to address the Cyprus question at local level, but reserved the right to say more at the next plenary session of the CoR in April. He pointed out that the direct talks
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By Mantik Kusjanto (Reuters) The economy is in its worst recession on record, the current account deficit is ballooning, the government faces a sea of red ink and credit ratings firms have the country under the microscope — is New Zealand the sick man of the South Pacific? Once a darling of foreign investors because
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Demand for staff at British companies fell at its fastest rate in more than 10 years in February and pay also fell at a record rate as firms slashed costs, a survey showed on Wednesday. The Recruitment and Employment Confederation/KPMG report on jobs said the poor economic climate had resulted in a further drop in
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China's official military budget for 2009 will rise 14.9 percent on last year, an official said on Wednesday, defending the boost as a modest one to help improve equipment and conditions, and guard social stability. Parliamentary spokesman Li Zhaoxing said the increase would bring the defence budget for the year to 480.7 billion yuan ($70.24
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UBS chairman Peter Kurer will not stand for re-election, and the board will nominate Kaspar Villiger, a former Swiss finance minister, as a replacement, the Swiss bank said on Wednesday. Kurer's departure comes after just under a year in the job, during which time UBS shares lost 68 percent of their value, the bank wrote
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Asian stocks rallied on Wednesday on hopes Beijing will step up efforts to support the Chinese economy, helping the entire region, while the U.S. dollar rose to a three-year high as investors scrambled to limit risk. Major European stock markets were expected to open up as much as 1 percent, according to financial bookmakers, after
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Germany confirmed on Tuesday that Romania was in talks over an International Monetary Fund loan amid concerns it will be the next of eastern Europe's teetering economies to need bailing out in the global credit crunch. Bucharest has yet to admit to having approached the global lender regarding a loan, although the IMF has said
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The Bank of New York Mellon said on Tuesday it will meet with the Russian government to discuss settlement of a $22.5 billion lawsuit Russia has levelled against it. The government, prompted by its need to raise money and cut expenses amid the economic turmoil, is ready to settle the case for $800 million, Kommersant
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A key European stock index fell to a lifetime closing low on Tuesday, led down by oil stocks as crude prices slipped towards $40 a barrel. The FTSEurofirst 300 fell 1.6 percent to close unofficially at 671.51 points, the lowest close since the index's inception in July 1997. "There is disappointment that the interventionist policies
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