Archive for November 11th, 2008

FTSE closes sharply lower (AFP)

Businessmen in the City of London. London shares have closed sharply lower as news of more corporate problems highlighted concerns about the spreading damage from the global credit crunch to the underlying economy.(AFP/File/Shaun Curry)AFP - London shares closed sharply lower on Tuesday as news of more corporate problems highlighted concerns about the spreading damage from the global credit crunch to the underlying economy.

AFP

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Russian shares drop on lower oil prices (AP)

AP - Russian stocks fell sharply on Tuesday, prompting regulators to suspend trading at one exchange until Thursday as the benchmark indexes shed more than 12 percent on the back of tumbling commodity prices.

AP

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Recession threat sparks calls for world action (AFP)

Stock brokers go about their business at the stock exchange in the central German city of Frankfurt. Britain and the EU called for strong joint action to hold off the recession threatening leading economies as more grim economic and corporate news drove down world stocks on Tuesday.(AFP/DDP/Thomas Lohnes)AFP - Britain and the EU called for strong joint action to hold off the recession threatening leading economies as more grim economic and corporate news drove down world stocks on Tuesday.

AFP

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World stocks tumble on downbeat US corporate news (AP)

A man walks past a display showing stock prices at a local bank in Hong Kong Tuesday, Nov. 11, 2008. Most Asian stock markets retreated Tuesday after weakness on Wall Street, as concerns about the global economy sapped enthusiasm over China's nearly $600 billion package to boost growth. Hong Kong's Hang Seng Index tumbled 4.77 percent, or 703.73 points, to 14040.90. (AP Photo/Vincent Yu)AP - World stock markets fell sharply Tuesday as further downbeat corporate news in the U.S. reinforced concerns about the world economy.

AP

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Volvo to cut nearly 1,000 jobs in Sweden, US (AP)

AP - Swedish truck and bus maker Volvo AB Tuesday said it will lay off nearly 1,000 staff at its powertrain unit in Sweden and the United States as the global financial crisis continues to weigh on the demand for heavy vehicles.

AP

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  • France calls controversially for coordinated EU economic policies (AFP)