Japan’s exports nearly halve in March as demand from major markets remains in doldrumsTOKYO — Japan’s exports continued to slump in March, hit by declining shipments of autos and electronics, underlining a grim outlook for the world’s second-largest economy as it struggles to climb out of recession. Tribeca Film Festival bows amid turbulent times felt off screen and depicted on screenNEW YORK — The eighth annual Tribeca Film Festival bows amid a turbulent time for movies, which is evident at this year’s festival both on screen and off. Fla. county declares state of emergency over skyrocketing foreclosures, unemploymentFORT PIERCE, Fla. — A South Florida county that rode high through the housing boom earlier this decade, then crashed hard when the foreclosure crisis struck, declared a state of economic emergency on Tuesday. Fifth Third Bancorp CEO seeks to reassure shareholders as bank struggles with recessionCINCINNATI — Fifth Third Bancorp’s chief executive sought to reassure shareholders Tuesday as the troubled regional bank copes with dramatically lower stock prices and dividends. Bank of New York Mellon, General Motors, Delta, Broadcom are big market movers TuesdayNEW YORK — Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market: IMF: nations must do more to aid banks facing $4.1 trillion in losses or crisis will worsenWASHINGTON — Losses at financial institutions could approach $4.1 trillion worldwide, the International Monetary Fund said Tuesday as it urged countries to take bolder action to bolster banks or risk an even deeper recession. How the Dow Jones industrials and other major stock indexes fared in Tuesday’s tradingRising bank stocks pulled the market higher Tuesday after Treasury Secretary Timothy Geithner reassured investors about banks’ balance sheets. Geithner’s assertion that “the vast majority” of banks have enough capital pulled stocks from a slump that began with a sell-off Monday and spilled over into Tuesday morning. Wheat, corn, oats, soybeans rise on the Chicago Board of Trade; beef trades higher, pork mixed
Agriculture futures trade higher on the CBOT Standard & Poor’s boosts New Orleans’ bond rating to investment grade, move key to bond saleNEW ORLEANS — Standard & Poor’s Ratings Services has boosted its bond rating for the city of New Orleans to investment grade, significant for the city as it continues recovering from Hurricane Katrina. Banks pull Street from slump after Geithner says ‘vast majority’ of banks have enough capitalNEW YORK — Treasury Secretary Timothy Geithner convinced Wall Street to give banks another chance Tuesday. Gold prices dip as remarks from Treasury Secretary Geithner spur buying on Wall StreetNEW YORK — Gold prices are slightly lower as stocks gain ground. Oil prices are flat, while grain prices are up. Minister says Kazakhstan faces recession unless economic stimulus package is sped throughALMATY, Kazakhstan — Kazakhstan’s once-booming economy will slip into recession unless the government speeds through a multibillion dollar stimulus package, the country’s economy minister warned Tuesday. Oil languishes below $46 in Asia after US bank concerns send crude, stocks plungingSINGAPORE — Oil prices languished below $46 a barrel Tuesday in Asia after renewed doubts about the health of U.S. banks sent crude and stock markets tumbling. Japan to submit record supplementary budget for $154 billion stimulus packageTOKYO — Japan will submit a record extra budget to finance its massive stimulus package aimed at lifting the world’s second-largest economy out of the deepest recession since World War II, officials said Tuesday. India central bank cuts interest rates, growth forecast as global crisis takes bigger tollMUMBAI, India — India’s central bank cut key interest rates Tuesday and downgraded its growth forecast as the global financial crisis takes a bigger-than-expected toll on Asia’s third-largest economy. Asian stock markets tumble as worries about banking industry flare; HK off 3.7 pctHONG KONG — Asian stock markets tumbled Tuesday, with benchmarks in Tokyo and Hong Kong down 2-3 percent, after news of mounting bad loans at Bank of America rekindled worries about the financial system and halted Wall Street’s six-week rally. European markets traded higher. Oil hovers below $46 in Asia after US bank concerns send crude, stocks plungingSINGAPORE — Oil prices languished below $46 a barrel Tuesday in Asia after renewed doubts about the health of U.S. banks sent crude and stock markets tumbling. Most Asian markets inch higher as investors await earnings; China shares gain on Wen commentsHONG KONG — Asian stocks edged higher Monday as the Chinese premier’s positive assessment of the world’s third-largest economy helped soothe nerves ahead of key earnings reports from leading U.S. companies. European markets opened lower. Ex-President George W. Bush jokes about dog walking, discusses financial crisisBOAO, China — Former President George W. Bush cracked jokes about how he scoops up after his dog on neighborhood walks and then turned to more serious subjects like terrorism and the financial crisis Saturday during his first overseas trip since leaving office. China’s premier says stimulus working, Chinese economy is better than expectedChina’s premier says economy better than expected BOAO, China — China’s Premier Wen Jiabao said Saturday that the country’s stimulus package is working and the economy is “better than expected.” Vietnam announces stimulus plan to help farmers affected by global economic downturnVietnam announces stimulus plan to help farmers HANOI, Vietnam — Vietnam has announced an economic stimulus plan to help farmers who are among those worst affected by the global recession, the government said Saturday. |
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