Markets All Over The Place
A bad day for shares again.But did we see a steadying emerge in late US trading?
A bad day for shares again.But did we see a steadying emerge in late US trading?
The UK Government is to offer more than $A1.2 trillion in loans and guarantees in an effort to support the country's tottering banking sector.
The US economy is in far worse shape than many in the US think, and is heading for a hard landing.
Home loans tumbled in August for a 7th successive month and consumer confidence plunged in October, so the question now is whether Tuesday's 1% rate cut from the Reserve Bank will have any impact in reversing those trends.
The Commonwealth Bank is now too big to fail now, if ever we ever needed it confirmed
The stockmarket rejoiced, rising 1% or more after the news was released, but we should remember the reality of a 1% rate cut.
Overnight Wall Street closed more than 5% down on growing fears that the spiralling credit crisis would drag the US economy into a recession. While the global financial crisis deepened, RBA cut the interest rate by a full percentage point, double the amount that had been expected.