The world's central banks jumped to grease money market wheels again on Friday, pouring in more money even as stocks and the dollar rallied in response to an emergency U.S. plan to mop up toxic debt. Japan, Australia, India and Indonesia pumped over $42 billion into their money markets as cash remained hard to find
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Regulators brought in rules on Friday to prevent investors profiting from falling financial stocks, helping fuel a furious rally in banks and other stocks battered by the deepening global credit crisis. The U.S. said short selling of 799 financial stocks is to be halted from Friday under an emergency Securities and Exchange Commission order. The
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Buyers flocked back to Russia's battered stock markets on Friday, sending prices soaring as trading resumed after a two-day halt and a $130 billion emergency state support package helped restore confidence. The MICEX and RTS bourses were twice forced to call brief suspensions of trading as sharp gains exceeded technical limits. By 1115 GMT, the
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The essence of the Cyprus issue and the Middle East problem is found in the fundamental principles of international law, which until today are being flagrantly violated, Cypriot member of the House of Representatives Christos Stylianides has said. Addressing the annual Fall Meetings of the Parliamentary Assembly of the Organisation for Security and Cooperation in
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A radical U.S. taxpayer-funded plan to restore confidence in battered financial markets by mopping up toxic mortgage-related debt triggered a rally in stocks, but raised questions over how long it would take and how it would work. Morgan Stanley, keeping options open after the independent investment banking model came under attack this week, held merger
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Japan's Nikkei share average rose 3.8% on Friday, rebounding from a three-year closing low hit the previous day, on hopes for a more comprehensive solution to the financial crisis that has roiled markets worldwide. Financial shares such as top lender Mitsubishi UFJ Financial Group surged after news that U.S. Treasury Secretary Henry Paulson has been
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HSBC dropped a $6.3 bln offer for 51% of Korea Exchange Bank, blaming turmoil in financial markets and ending what would have been the biggest cross-border move in South Korea's bank sector. Abandoning the long-running deal, which had been beset by regulatory delays, added to speculation HSBC would look to buy a distressed western peer
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Citigroup Inc is considering making a bid for Washington Mutual Inc, the Wall Street Journal said on Friday, citing people familiar with the situation. JPMorgan Chase & Co is biding its time on a potential bid, the newspaper said, citing people close to JPMorgan. Calls to the three finance companies were not immediately returned. However,
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Nokia's first phone model with free access to music is scheduled to go on sale on Oct 17 in Britain, retailer Carphone Warehouse said on its Web page. Nokia's "Comes with Music" bundle of phone and music service could help the music industry make up for falling CD sales, while challenging dominance of Apple's iTunes
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Google Inc extended an already wide lead in the U.S. Web search to 63.0% share of the market in August, its biggest monthly gain in five months, a report said on Thursday. Yahoo Inc, the No. 2 player in the U.S. Web search market saw its share of the business drop 0.9% to 19.6 from
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