World Business News
China, Japan praise mortgage giant rescue
5:32pm | The two biggest buyers of Freddie Mac and Fannie Mae bonds praised Washington's move, while investors harboured no illusions the bailout would end the credit market woes.
OPEC grapples with falling oil prices
2:30pm | Analysts expect OPEC ministers meeting today in Vienna to agree to trim output to help keep crude above $US100 a barrel.
Fannie, Freddie takeover a pre-emptive strike
12:30pm |
Mounting credit losses and waning foreign appetite prompted the government to launch what may become the most costly bailout in US history.
Hong Kong battered, not yet bowed
12:16pm | Hong Kong rides Asia's economic roller-coaster.
Euro region's debt woes
11:54am | A decade of investing more than they've earned in profits has loaded corporations in the 15-nation euro area with debt, leaving them exposed.
China urges banks to lend more
11:42am | China has again urged banks to increase loans to help reconstruction in areas hit by natural disasters in order to bolster economic growth.
US takes over mortgage giants
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8:53am |
US government seizes control of Fannie Mae, Freddie Mac after surge in mortgage defaults; price tag may top $US200b.
Paulson, Bernanke meet Fannie, Freddie chiefs
There is speculation the Bush Administration is finalising a plan for injection of government funds in Fannie Mae and Freddie Mac.
US job cuts spark fresh recession fears
US unemployment jumped to a five-year high of 6.1% in August as 84,000 jobs were slashed.
Dell to sell its factories
US computer maker Dell is planning to sell its factories around the world to contract manufacturers within 18 months.
Samsung Electronics mulls its biggest ever acquisition
Samsung Electronics said it may buy SanDisk Corp., the US memory card maker with a market value of $3.6b, in what would be the South Korean company's biggest acquisition.
Fed officials see US slowdown ahead
Federal Reserve officials say the US economy seems on the verge of another slowdown but may leave interest rates on hold.
Inflation remains main worry of Europe's central bank
Europe's central bank says it remains on fighting inflation even after cutting its economic growth forecasts.
BP settles Russian oil tiff for now
BP to oust the chief executive officer of TNK-BP to end an eight-month dispute with billionaire investors in the Russian joint venture.
Wal-Mart sales give glimmer of retail hope
Wal-Mart's August sales exceeded analysts' estimates after discounts lured shoppers from department stores.
Qantas ad claims queried
UK ad watchdog investigates Qantas claim that it is the 'world's most experienced' airline.
Lehman mulls 'bad' bank spinoff for $39b sour debt
Lehman may shift about $38.6b of commercial mortgages and real estate to a new company that will be spun off.
Steps needed to halt financial 'tsunami'
The US government needs to act to stem a burgeoning ``financial tsunami,'' bond boss says.
US economic gloom deepens
US service industries grew in August, while more Americans filed unemployment benefit claims, underscoring the poor job market.
Rich cry poor: US housing crisis goes upmarket
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The pain of the worst housing slump in a quarter century is reaching the highest end of the US market as owners of luxury homes slash list prices by millions
Gustav exposes celebrity pretensions
Hurricane Gustav exposes mixed motivations of Angelina Jolie's New Orleans housing projects.
OPEC output to remain at record pace
OPEC, the supplier of 40% of the world's oil, will probably keep producing at a record pace as $US109-a-barrel crude squeezes the global economy.
Hedge fund star Anderson falls to earth
Hedge fund star Dwight Anderson falls to earth, brought down by bad bets on commodities.
Fed report shows most of US economy 'slow'
Business across most of the US was 'slow' last month, while almost all districts reported pressure to raise prices.
'Big Three' automakers not so big
Honda overtakes Chrysler in US sales, leaving the 'Big Three' a historical curiosity.
Crash test for China property market
China's banking regulator urges lenders to crash-test the impact of a cooling real estate market.
Coke in China juice bid
Coca-Cola's bid to buy China Huiyuan Juice Group will make it the biggest juice maker in the most populous nation.
Wealth funds back investment code
Global sovereign wealth funds have reached a preliminary agreement on a set of voluntary principles to guide their investment practices and to calm fears about their motives.
Murdoch's fantasies revealed
Rupert Murdoch yearns to buy the New York Times and toyed with acquiring a sizable minority stake in Bloomberg News.
Leave interest rates where they are, OECD says
OECD calls on central banks to keep interest rates at their current levels as they try to balance strong inflation with weak growth.
