AP - Icelandic-owned budget carrier Sterling Airways A/S said it will file for bankruptcy Wednesday because of the financial meltdown.
AP
Continue reading about Sterling Airways to file for bankruptcy (AP)
Reuters - Wall Street marked its second-best day ever on Tuesday as investors, convinced that central banks worldwide will cut rates even more, scooped up stocks that had been driven down to their lowest prices in more than five years.
Reuters
Continue reading about Wall Street scores 2nd-best day ever on rate-cut hopes (Reuters)
Reuters - Stocks rose more than 10 percent on Tuesday, the second-biggest point gain ever for the Dow and S&P, after investors scooped up beaten-down shares on optimism that the U.S. Federal Reserve and other central banks will cut interest rates further.
Reuters
Continue reading about Wall Street surges on bargain hunting, rate hopes (Reuters)
AP - With Iceland, Pakistan, Hungary and Ukraine already clamoring for mountains of cash aid, the $250 billion set aside by the International Monetary Fund to help struggling nations through the economic crisis is beginning to look puny.
AP
Continue reading about IMF likely to need more money for its bailout fund (AP)
Reuters - Stocks rallied sharply on Tuesday as investors scooped up recently beaten-down shares, while sentiment grew that the U.S. Federal Reserve will cut interest rates.
Reuters
Continue reading about Wall Street rallies further on rate-cut hopes (Reuters)
AFP - Europe's new trade chief warned governments on Tuesday against resorting to protectionism in the face of the current financial crisis which she said would only delay economic recovery.
AFP
Continue reading about New EU trade chief warns against protectionism (AFP)
AFP - The FTSE 100 rebounded on Tuesday on the back of speculation of an American interest rate cut and strong profits announced by oil giant BP.
AFP
Reuters - Stocks rose on Tuesday as investors followed Asian and European markets higher, buying shares beaten down in recent sessions and putting aside concerns about a plunge in consumer confidence.
Reuters
Continue reading about Wall Street rises on bargain-hunting (Reuters)
AFP - Lithuania's Conservative leader, Andrius Kubilius, was on Tuesday tasked with creating a coalition to replace the defeated Social Democrats and tackle the ex-Soviet EU nation's looming economic crisis.
AFP
Continue reading about Lithuania Conservatives asked to form coalition (AFP)
AP - Crisis-hit Iceland raised its key interest rate by a massive 6 percentage points on Tuesday, carrying out a rapid policy U-turn to meet the requirements of a $2 billion rescue loan from the International Monetary Fund.
AP
Continue reading about Iceland hikes interest rate, seeks more funds (AP)
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