Archive for October 23rd, 2008

Cuba-EU standoff ends with cooperation accord (AP)

Cuba's Foreign Minister Felipe Perez Roque, right, shakes hands with European Union Commissioner Louis Michel after signing documents in Havana, Thursday, Oct. 23, 2008. Michel is in Cuba in hopes of restarting talks and cooperation after Europe lifted its last remaining sanctions on the island nation. (AP Photo/Ramon Espinosa)AP - Cuba and the European Union ended a five-year standoff on Thursday by signing an agreement that calls for EU members to send the island euro2 million (US$2.6 million) in immediate hurricane recovery aid and up to euro30 million (US$38.8 million) more in financing next year.


AP

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Ukrainian currency plunges to historic low (AP)

A man uses a pocket calculator in front of an exchange counter in the centre of Kiev on October 24. Ukraine, facing political deadlock and an economic crisis, secured a 16.5-billion-dollar loan from the International Monetary Fund on Sunday aimed at propping up its fragile banking system.(AFP/File/Sergei Supinsky)AP - The Ukrainian currency plunged against the dollar Thursday as people raced to exchange booths to convert their savings into U.S currency.


AP

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Europe markets drop ahead of Wall Street open (AP)

A broker is seen at the stock exchange in Frankfurt, central Germany, on Thursday, Oct. 23, 2008. The German stock market index DAX was down again Thursday morning. (AP Photo/Daniel Roland)AP - European stock markets were lower Thursday following hefty losses in Asia earlier and an expected further retreat on Wall Street as spreading pessimism over corporate earnings reinforced concerns about the world economy.


AP

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Credit Suisse makes $1.1 billion loss in 3Q (AP)

AP - Credit Suisse Group reported a 1.26 billion Swiss franc ($1.08 billion) loss during the third quarter Thursday, blaming bad investments and the global financial turmoil, and the bank said it was working to further cut its exposure to toxic assets.

AP

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  • EU approves Italian, Finnish bank rescue plans (AP)