Sunday, October 19, 2008

Steven Wevodau - S.Korea joins global rescue, crisis summit planned (Reuters)

S.Korea joins global rescue, crisis summit planned (Reuters)

U.S. Secretary of State Condoleezza Rice (L) and Treasury Secretary Henry Paulson wait for the helicopter arrival of French President Nicolas Sarkozy and European Commission President Jose Manual Barroso at the Presidential retreat at Camp David, October 18, 2008. U.S. President George W. Bush hosted the two European leaders for talks on the global economy. (Jason Reed/Reuters)Reuters - South Korea joined efforts on Sunday to shore up banks and markets pummeled by the biggest economic crisis since the Great Depression which world leaders said called for a coordinated global response.

Changing fear factor, cheaper stocks (Reuters)
Reuters - Predicting what financial markets will do at the moment is more than a mug's game, given massive levels of volatility, but certain factors have arisen recently that may put investors in a new frame of mind this week.

White House's Lazear: Parts of U.S. in recession (Reuters)

Edward Lazear, Chairman of the President's Council of Economic Advisers, speaks to the press at the White House in Washington February 11, 2008, after President George W. Bush signed the 2008 Economic Report. (Jason Reed/Reuters)Reuters - Parts of the United States, struggling with high jobless rates, seem to be in recession, but the government's plan to support credit markets will help, President George W. Bush's top economic adviser said on Sunday.

Stocks eye earnings for economic clues (Reuters)

A trader works on the floor of the New York Stock Exchange, October 17, 2008. (Brendan McDermid/Reuters)Reuters - Even as credit market strains show signs of easing, a barrage of earnings will steal the spotlight this week as Wall Street looks for a picture of how profits will fare in the face of a severe economic slowdown.

Michigan politicians fret over GM, Chrysler's future (Reuters)

The Chrysler Warren Truck Assembly plant is seen in Warren, Michigan October 14, 2008. (Rebecca Cook/Reuters)Reuters - Merger talks between automakers Chrysler LLC and General Motors Corp leaves Michigan politicians stuck with conflicting feelings: hopeful a combined entity would prosper but fearful it would mean job losses and tax revenue, plus a huge real estate headache.

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