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In his run to win the presidency, Barack Obama spoke extensively of reversing the Bush administration's economic plans and taking the country out of recession.
The collapse of Australian investment firm Allco Finance Group could signal a wave of similar fates for those Australian companies that have relied on cheap debt for funding, analysts said.
Barack Obama made history today when he was elected the 44th president of the United States. A page has turned and many are breathing a sigh of relief. With credit markets thawing and the change in leadership, optimism is starting to emerge.
The simple notion that this Election Day marked a potential turning point for the economy was enough to boost investors' spirits
European shares closed sharply higher on Tuesday, registering gains for a sixth straight day, as commodities stocks tracked stronger crude and metals prices, and banks rose on hopes the credit sector jitters may ease.
U.S. consumer bankruptcy filings soared 40 percent in October as home values sank and individual debts ballooned, the American Bankruptcy Institute (ABI) said Tuesday.
The United States needs a new fiscal policy boost to complement aggressive steps taken by the Federal Reserve to shield the economy from a global credit crisis, one of its top policy-makers said on Tuesday.
Global stock markets rose to a two-week high as investors around the world focused on the US presidential election.
The world was riveted by the election drama unfolding Tuesday in the United States, inspired by Barack Obama or simply relieved that—whoever wins—the Bush administration was coming to an end.
New orders received by U.S. factories tumbled for a second straight month in September, underscoring the grim economy awaiting the winner of Tuesday's presidential election.
The dollar fell against most major currencies Tuesday as investors await the result of the U.S. Presidential election and look toward central bank meetings later in the week.
The rate at which banks lend dollar funds to each other fell on Tuesday, most notably for periods of a month or longer, pushing benchmark three-month borrowing costs to their lowest in five months.
Los Angeles home foreclosures fell sharply in October from September as a new California law came into effect, while the number of foreclosures in Miami continued to grow at a slower rate, real estate research website PropertyShark.com said Tuesday.
Australia slashed interest rates Tuesday, presaging cuts expected in Europe later this week in the face of mounting evidence that the global financial crisis has already pushed much of the world into a damaging recession.
Australia's central bank cut its benchmark cash rate by a bigger-than-expected 75 basis points on Tuesday, in an increasingly urgent effort to save the economy from the recession rapidly engulfing much of the developed world.
The follwing is the text of the Reserve Bank of Australia's statement after it cut interest rates at its monthly policy meeting on Tuesday.
Negotiators from Taiwan and China met for their first high-level talks on the island in 60 years on Tuesday, with deals on direct flights, cargo routes and food safety expected to be signed later in the day.
When it comes to the health of your bank, FDIC coverage is all you need to worry about.
Calling for an economic recovery and making one happen are two very different things. Whoever becomes the 44th US president faces an unenviable task.
Stocks were mixed Monday as investors digested a mixed bag of economic data and marched in place ahead of Tuesday's presidential election.
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