Bollard Says New Zealand Has Scope for More Rate Cuts

The Reserve Bank of New Zealand, which reduced interest rates to a record low this week, has scope for further cuts amid the deepening […]

Philippine Imports Fell Most in 10 Years in November

Philippine imports fell the most in 10 years in November as manufacturers reduced purchases amid slowing demand at home and abroad.
Overseas purchases tumbled […]

Freddie Seeks Up to $35 Billion From U.S.; Fannie May Follow

Freddie Mac, the mortgage-finance company under federal control, needs as much as $35 billion more in federal aid, and Fannie Mae may soon ask […]

EU Focuses on Boosting Lending as Crisis Intensifies

European finance officials are focused on reviving the banking system to boost lending and help companies and consumers survive the worst financial crisis since […]

Solbes Says Spain Faces Deepest Recession in 50 Years

Spain faces its deepest recession in half a century, Finance Minister Pedro Solbes said.
The Spanish economy will contract 1.6 percent this year, Solbes […]

Sony may post $1.1 billion operating loss

Japan’s Sony Corp will likely suffer an annual operating loss of about $1.1 billion, its first such loss in 14 years, due to sluggish […]

Madoff should be jailed - U.S.

Prosecutors urged a federal judge Wednesday to put alleged Ponzi scammer Bernard Madoff behind bars for trying to mail more than $1 million worth […]

GMAC loses loan exclusivity

GMAC LLC said on Friday that as part of its $6 billion federal bailout and decision to become a bank, it will no longer […]