Europe and Asia joined Wall Street's sell-off on Tuesday, sending world stocks to their lowest since April 2003, while oil fell and government bonds rose as fresh concerns grew about the financial system. On Monday, Wall Street hit a 12-year low as investors grew nervous Washington's possible plan to increase its stake in Citigroup and
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Oil climbed above $39 a barrel on Tuesday as investors took a fresh look at OPEC's greater than expected success in cutting supplies. Prices had tumbled earlier after Monday's decline in U.S. stocks to a 12-year low. The Wall Street plunge on Monday had overshadowed figures from Petrologistics that OPEC producers were likely to pump
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Strong growth in Germany's renewable energy sector along with increased state spending for environment protection could help shorten the country's worst post-war recession, the government said on Tuesday. Deputy environment minister Astrid Klug said there were now 250,000 jobs in Germany's renewable energies sector and an overall total of 1.8 million in environmental protection. The
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French President Nicolas Sarkozy said on Tuesday the European Union should protect its industries in the same way the United States does and urged his partners to take "strong decisions" in defence of European interests. "From next Sunday, Italy and France will talk with tough language and ask Europe (at a European Union crisis summit)
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U.S. Federal Reserve Chairman Ben Bernanke warned on Tuesday that unless government efforts succeed in restoring financial stability, the nation's recession may not end this year. Bernanke told lawmakers that the sharply shrinking economy was at further risk from mutually reinforcing weakening growth and financial market strain. "To break the adverse feedback loop, it is
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U.S. consumer confidence plunged to another record low in February with expectations that already dire economic conditions will continue to weaken and the jobs market will further deteriorate. The Conference Board, an industry group, said on Tuesday that its sentiment index fell to 25.0 from a downwardly revised 37.4 in January. The median forecast of
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Yahoo introduced several tools on Tuesday that it says will help marketers target their ads more efficiently at a time when many of them are cutting advertising spending drastically. One of the new products lets marketers target people with tailored display ads based on the terms they used in Yahoo's search engine. Another tool customizes
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Teenagers who are preoccupied with their Internet time may be more prone to aggressive behavior, researchers reported Monday. In a study of more than 9,400 Taiwanese teenagers, the researchers found that those with signs of Internet "addiction" were more likely to say they had hit, shoved or threatened someone in the past year. The link
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Citigroup has downgraded its price targets of Greek and Cypriot banks in its latest report dated February 23, 2009. Citi has slashed its target price on Bank of Cyprus to EUR 2.75/share from EUR 3.25/share previously while the price target on Marfin Popular Bank has been cut from EUR 3.00/share to EUR 2.50/share. The target
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Five persons, representing the right-wing Democratic Rally party, submitted their candidacy for the June European Parliament elections. They are: Ioannis Kasoulides, Christos Stylianides, Eleni Theocharous, Timis Efthymiou and Christoforos Fokaides. The sixth candidate of the Democratic Rally will be appointed by the party President Nicos Anastasiades. All candidacies will be ratified during a meeting of
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