NEW YORK (Reuters) - Bank of America Corp, citing "recessionary conditions," on Monday halved its dividend and said it would sell at least $10 billion in new common stock to bolster its capital to offset rising loan losses.
HONG KONG (Reuters) - Asian stocks outside Japan rose for the first time in four days on Tuesday while the yen and government bond prices fell after a surprisingly large interest rate cut by Australia's central bank raised hopes that other policymakers would follow suit.
NEW YORK (Reuters) - Stocks slid for a fourth straight day on Monday, leaving the Dow below 10,000 for the first time in four years, on fears the global economy was hurtling into recession despite government efforts to contain the fast-spreading financial crisis.
LONDON/BEIJING (Reuters) - Investors looked to central banks and politicians on Tuesday to show they could contain an escalating financial crisis after Australia responded by cutting interest rates sharply.
SINGAPORE (Reuters) - Oil rebounded more than $2 a barrel on Tuesday, recouping some of the previous session's $6 loss, after Australia's interest rate cut sparked guarded optimism global central banks may act to stem the credit crisis and its fallout on oil demand.
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