HONG KONG (Reuters) - A rout in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell to below $53 a barrel and safe havens such as the yen gained as economic data indicated a global recession could get even uglier.
(Reuters) - The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said.
WASHINGTON (Reuters) - Chances dimmed that a last-minute plan being crafted by Republican senators, with White House support, to provide $25 billion to bail out U.S. automakers would receive enough backing from Democrats to pass before the end of this week.
WASHINGTON (Reuters) - Federal Reserve officials have pared their outlook for economic growth through 2009 to minimal levels and are prepared to cut interest rates further, while concern has risen that a deflationary spiral may take hold.
TOKYO/BEIJING (Reuters) - Japan's exports to Asia fell in October for the first time since 2002, showing that the fallout from the credit crisis has spread to neighbors such as China and adding momentum to investors' flight to the safety of cash.
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