More MTM losses for European banks in Q2 2008

Moody's Investors Service expects further write-downs for the large European banks' structured finance portfolios due to continued widening in US subprime RMBS spreads and deterioration in the credit quality of financial guarantors,

Office Depot posts quarterly loss

Office Depot Inc reported a second-quarter loss on Wednesday as declining spending by smaller businesses and retail customers hurt sales. The office supplies retailer had a loss of $2 million, or a

Oil slide, US glimmers of hope boost stocks

World stocks rose robustly on Wednesday as worries about oil receded, U.S. consumer confidence stabilised and corporate earnings bolstered investor sentiment. The dollar was barely changed against a basket of major currencies