Best weekly US rally in 34 years

Posted by Financial Market News on October 31st, 2008

Oct. 31 - Investors received a trick and a treat Friday with stocks closing the worst month since the 1987 crash, but the Dow's best week in 34 years.

FTSE suffers worst month since…

Posted by Financial Market News on October 31st, 2008

London's leading share index has suffered its second worst October ever, despite closing with a 12.7% surge over the week.

Billions in Bank Rescue Funds are Fueling Buyout Deals, and not the…

Posted by Financial Service News on October 31st, 2008

While the U.S. government's plan to invest $250 billion into U.S. financial institutions has been billed as a strategy that will bolster the health of the banking system and also jump-start lending, the ...

Peter Mandelson clears planned merger between Lloyds TSB and HBOS

Posted by Financial Service News on October 31st, 2008

The Government has given Lloyds TSB's planned merger with HBOS the green light after overruling competition concerns raised by the Office of Fair Trading .

Dollar higher, gold falls in morning trading

Posted by Financial Market News on October 31st, 2008

The U.S. dollar was mostly higher against other major currencies in European trading Friday morning.

Inside Washington: Senate sticks with paper

Posted by Financial Service News on October 31st, 2008

Senate candidates are plodding through another election with paper campaign finance reports, possibly depriving voters of discovering last-minute details about fundraising and spending that could prove embarrassing.

It was electronic records, for example, that allowed reporters to find out quickly that the Republican National Committee had paid for a $150,000 shopping spree for vice presidential nominee Sarah Palin and that the McCain campaign paid $13,200 in September to a celebrity makeup artist.

Euro down against dollar on US economy report

Posted by Financial Market News on October 31st, 2008

Euro down against dollar on US economy report Comments FRANKFURT, Germany - The euro dropped against the dollar on Friday after a report showed the U.S. economy contracting by a smaller margin than analysts had ...

6bn Middle East boost for Barclays

Posted by Financial Service News on October 31st, 2008

Barclays is on the verge of securing a 6 billion capital injection from Middle Eastern investors in a move that will enable the bank to avoid using the Government for financial support.

Indian stock index surges 8.3 percent

Posted by Financial Market News on October 31st, 2008

India's benchmark Sensex index surged 8.3 percent in early trading Friday as traders caught up with Thursday's sharp rally in global markets.

The Sensex rose 740.42 points, or 8.3 percent, to 9,794.93 in early trading Friday.

Stock markets were closed Tuesday and Thursday for the local holiday of Diwali.

Information technology, metals, and oil and gas stocks led the rise.

Copper producer Sterlite Industries was up 13.04 percent. Software services company Wipro Ltd. was up 12.35 percent. Automaker Manhindra & Mahindra rose 11.8 percent.

Only one HBOS exec added to Lloyds TSB board

Posted by Financial Service News on October 31st, 2008

Lloyds TSB has appointed just one HBOS executive to its board following the completion of its takeover.


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