German corporate sentiment fell sharply in November to its lowest level since February 1993 as manufacturers and retailers grew more gloomy about the economic outlook, a leading survey showed on Monday. The Ifo economic research institute said its business climate index, based on a monthly poll of around 7,000 firms, declined to 85.8 in November
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The U.S. government agreed to inject $20 billion of new capital into one of the world's biggest banks, Citigroup Inc, to avoid a collapse that could have wrought financial havoc around the globe. Washington, also under pressure to rescue an ailing motor industry, effectively guaranteed most of Citigroup's potential $306 billion losses in high-risk assets.
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The U.S. government has bailed out Citigroup Inc, agreeing to shoulder most of the potential losses on $306 billion of high risk assets and inject $20 billion of new capital, in its biggest rescue of a bank yet. Citigroup's rescue marks the latest government effort to contain a widening financial meltdown that has caused the
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Hundreds of people lined up at some Verizon Wireless stores on Friday to buy the BlackBerry Storm, the first touch-screen phone from Research In Motion that aims to compete with Apple's iPhone. More than 200 people had waited at a Verizon store in mid-town Manhattan early in the morning, many of whom were turned away
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Internet search giant Google Inc is known for hosting the most extravagant holiday parties in Silicon Valley, often drawing crowds of over 10,000 and prompting some employees to post ads for party dates on classifieds Website Craigslist. But even Google has decided to scale back its holiday celebrations this year due to a global economic
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The global financial crisis may have pushed Canada's economy into a "technical" recession, Finance Minister Jim Flaherty said on Sunday, the first time the Conservative government has conceded that possibility. "We may well be in a technical recession in the last quarter of this year and the first quarter of next year," Flaherty said in
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The British government is set to announce on Monday it will inject up to 20 billion pounds ($29.68 billion) into the economy in a gamble to stave off a deep recession. Finance minister Alistair Darling's package, known as the pre-budget report, is expected to include tax cuts and increased public spending. His speech to parliament
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The United States, China, Japan and 18 other economies in Asia and the Americas promised fast and decisive action on Sunday to prevent a severe global economic downturn. With recession gripping parts of the world and financial markets in chaos, leaders at the 21-member Asia-Pacific Economic Cooperation forum, or APEC, said the slowdown is "one
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The U.S. government agreed to prop up troubled No.2 bank Citigroup Inc with more than $300 billion, the latest bailout in a sector crippled by exposure to toxic mortgage debts and a crumbling economy. With problems spreading beyond the banks, governments around the world have been stepping up their efforts to contain the worst financial
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Asian share markets fell around 1 percent on Monday, with bank stocks leading the drop, and so-called safe-haven assets like the yen gained as investors cautiously eyed potential U.S. measures to prop up Citigroup. Reports that U.S. New York Federal Reserve President Timothy Geithner will be nominated as the new U.S. Treasury Secretary boosted Wall
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