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• Global efforts to tackle credit crisis diverge
While the Reserve Bank of Australia cheered regional markets Tuesday by lowering its main rate by a whopping 1 percentage point, the Bank of Japan kept monetary policy on hold and reiterated that it would act independently. India's central bank ...
• Global rate cut does little to calm markets
Moving to contain a widening crisis, the Federal Reserve Wednesday led a coordinated round of interest rate cuts by central banks around the world. But the moves seemed to have little immediate impact on the panic gripping the global financial system ...
• World markets boosted by Fed’s bold move
There are hopes that the Fed's move on commercial paper may be replicated in Europe too, even though the European Central Bank hasn't got an explicit power and that commercial paper does not feature as prominently in the 15-nation single currency zone
• After an up-and-down day, stocks close lower
The rate cut by the Federal Reserve and other leading central banks failed to convince investors that credit markets would soon relax and that banks would begin lending more freely to businesses and consumers. The Fed lowered rates by a half-point ...
• Magnitude-6.6 quake kills dozens in Kyrgyzstan
BISHKEK, Kyrgyzstan - A powerful earthquake struck the mountains of Central Asia, killing 58 people and destroying more than 100 buildings in a village in southern Kyrgyzstan, emergency officials said Monday. The quake near the border between ...