HONG KONG (Reuters) - A 6 percent fall in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell below $53 and safe havens such as the yen gained on fears the global recession and a financial crisis will get 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.
BANGKOK (Reuters) - U.S. car giant General Motors Corp announced a two-month shutdown at its Thai plant on Thursday, the latest move by global automakers seeking to slash costs in the face of weak sales and deepening economic gloom.
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