The Dow and the S&P 500 briefly turned positive on Monday in volatile trade as shares of Verizon Communications spurred gains in the telecoms sector, but the bounce quickly faded as persistent worries about recession fueled caution. Top drags included shares of technology bellwethers such as Microsoft Corp, down nearly 4 percent, amid worries about
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The Internet is not just changing the way people live but altering the way our brains work with a neuroscientist arguing this is an evolutionary change which will put the tech-savvy at the top of the new social order. Gary Small, a neuroscientist at UCLA in California who specializes in brain function, has found through
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Australian Minister of Foreign Affairs Stephen Smith assured on Monday that his country strongly supports the process for a Cyprus settlement and direct negotiations between the leaders of the two communities, adding that a solution would be in the interests of Cyprus, Europe and the international community. Speaking after a meeting in Nicosia with his
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Minister of the Interior Neoclis Sylikiotis has said that the works undertaken by the Republic of Cyprus to rebuild the village of Artemida, which went up in flames during the summer 2007 fires in Greece, are proceeding and will be completed according to plan. Speaking at Larnaca Airport on his return from Greece, where he
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Kuwait sought to restore confidence in its banking system on Monday by offering to pump cash into troubled Gulf Bank which has been hit by losses from derivative deals. A group of investors meanwhile protested in Kuwait City's financial district against the government's handling of the global financial crisis and urged the cabinet to resign.
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British Prime Minister Gordon Brown defended a surge in government borrowing on Monday, saying it is right to spend to help businesses and households when the economy is contracting. Analysts expect the Labour government to change its limits on borrowing soon to allow more room for manouevre as the economy weakens, but the Bank of
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An IMF rescue deal steadied Hungary's battered currency on Monday, but the ripples of the global crisis spread to other emerging markets, with Polish and Turkish officials saying more steps were needed to boost confidence. After reaching a $16.5 billion loan agreement with Kiev to shore up Ukraine's teetering economy, the International Monetary Fund said
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The Group of Seven rich nations tried to rein in the surging yen, saying its wild swings threatened stability, but failed to convince investors they were ready to jump into currency markets in the midst of a financial storm. G7 finance ministers and central bank governors said they were prepared to act, if necessary, as
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The Board of Directors of Marfin Investment Group announced the appointment of Deutsche Bank AG, London Branch and Morgan Stanley as Joint Global Coordinators and Joint Bookrunners, and UBS Limited as a Joint Bookrunner in its proposed share capital increase of EUR5 bln, as announced on 30 September 2008. Crédit Agricole Cheuvreux, Keefe, Bruyette
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Investor fears that further possible coordinated action to calm markets will not be enough to fend off a global recession sent shares from London to Tokyo reeling on Monday, while the yen continued to surge. The yen held firm even after the Group of Seven nations singled out as a cause for concern its excessive
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