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Washington - The investment firm Cerberus Capital Management, which owns the beleaguered car manufacturer Chrysler, plans to cut nearly 10 per cent of its worldwide staff, the Wall Street Journal reported Monday, quoting people close to the operations.
The company employs about 275 investment and operational professionals.
A...
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New York - The loss-plagued Swedish car manufacturer Saab is to be split off as a separate business by owner General Motors to make it more attractive for a purchaser, the US trade magazine Automotive News reported Monday.
GM has been searching for months in vain for a purchaser for its Saab branch.
The newly organized entity ...
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The European Central Bank (ECB) lowered its key interest rate by half a percentage point on Thursday, underscoring efforts to combat recession gripping countries in the eurozone.
The decision by the ECB's governing council to reduce its benchmark refinancing rate to 2 per cent came amid a flood of gloomy economic data in what is...
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Thai shares slipped 3.01 in value on Thursday on region-wide worries about the year-end prospects for listed companies abroad and at home, analysts said.
The Stock Exchange of Thailand (SET) index ended at 426.26, down 13.25 points of 3.01 per cent.
"Investors were selling because of worries about the year-end performance of...
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Hong Kong shares dipped lower Thursday, losing more 3.3 per cent to a seven-week low on more worries over the worsening recession.
The blue-chip Hang Seng Index lost 461 points to end the day at 13,242.96. Turnover was a relatively low 49.3 billion Hong Kong dollars (6.32 billion US dollars.)
Losses were across the board but were...
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China has taken Germany's spot as the world's third-largest economy after the United States and Japan, statistics released on Wednesday showed.
Beijing's national statistics office released corrected figures for the year 2007, revising the gross domestic product (GDP) growth upwards from 11.9 per cent to 13 per cent, the largest...
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The Vietnamese stock market rebounded sharply Friday following Thursday's rebound in the US stock market.
The volatile VN-Index ended up 4.7 per cent, to close at 439.06.
Market volume totaled 25.5 million shares, valued at 850 billion dong (51 million dollars), up from 457 billion dong (27 million dollars) on Thursday.
Phan...
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At least six major central banks pumped billions of dollars of extra credit into financial markets Thursday amid fears that this week's crisis was drying up liquidity.
The European Central Bank (ECB) in Frankfurt said its dollar funding operations would more than double from the existing 50 billion dollars to 110 billion...
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Taiwan stocks plunged 2.73 per cent Thursday amid heavy selling triggered by US financial turmoil and Wall Street's sharp fall overnight, dealers said.
The Weighted Price Index of Taiwan Stock Exchange opened down 4.19 per cent as jittery investors dumped their holdings, but government funds soon moved in to buy heavily to ease the...
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US stocks were poised for a massive sell-off Monday after embattled investment bank Lehman Brothers Holdings filed for bankruptcy - one of many financial firms in turmoil amid a significant broadening of the US credit crisis.
News of the venerable Lehman Brothers' failure came hours after financial services firm Merrill Lynch & Co...
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| Currency |
USD |
EUR |
GBP |
YEN |
| USD |
------ |
0.757 |
0.701 |
97.307 |
| EUR |
1.320 |
------ |
0.926 |
128.479 |
| GBP |
1.426 |
1.080 |
------ |
138.794 |
| YEN |
0.010 |
0.008 |
0.007 |
------ |
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| Symbol | Last | Change | | Dow | 14,047.31 |  40.24 (0.29%) | | Nasdaq | 2,747.11 |  6.12 (0.22%) | | S&P 500 | 1,546.63 | 0.41 (0.03%) | | 10-Yr Bond | 4.529%
| 0.028 | | NYSE Volume | 3,112,411,000 | | Nasdaq Volume | 1,795,889,000 |
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 New BMW-6 Series Coupe and convertible
BMW has launched a convertible and new coupe of the 6-Series
featuring several advanced drive technologies and driver assistance
safety systems.
Both the coupe...
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