Archive for November 26th, 2008

UPDATE 1-Gold slips 1 pct on dollar, below 6-week high

Wednesday, November 26th, 2008

* Gold down 1 pct on firmer dollar, profit taking * Nikkei slips 1.3 pct on worries about global economy * Oil steadies after falling almost 7 pct (Updates prices) By Lewa Pardomuan SINGAPORE, Nov 26 (Reuters) - Gold fell 1 percent onWednesday after the ...

UPDATE 5-Britain’s Brown defends plan to boost economy

Wednesday, November 26th, 2008

(Updates with report of income tax increase in sixth paragraph) By Adrian Croft LONDON, Nov 23 (Reuters) - British Prime Minister GordonBrown defended his plan on Sunday to inject billions of poundsof borrowed money into the economy ...

TOPWRAP 1-Obama picks point men for crisis fight back

Wednesday, November 26th, 2008

* Obama picks Geithner, Summers to lead financial fight * Pacific nations say trade deals will help * Britain's Brown to cut taxes, boost public spending By Caren ...

UPDATE 3-Provincial projects up China stimulus by $1.5 Trln

Wednesday, November 26th, 2008

(Adds central bank governor comments in paragraphs 3-4) By Lucy Hornby BEIJING, Nov 23 (Reuters) - Projects planned by provincialgovernments will add an additional 10 trillion yuan ($1.464trillion) to the value of China's economic stimulus package,state television ...

Oxy Petroleum consortium wins Oman gas contract -paper

Wednesday, November 26th, 2008

DUBAI, Nov 23 (Reuters) - A consortium led by U.S. oil andchemicals company Occidental Petroleum (OXY.N: Quote, Profile, Research, Stock Buzz) has won aconcession from the Omani government for gas exploration anddevelopment in central Oman, a newspaper reported on Sunday. Abu ...

UPDATE 1-S.Korea officials say still have policy options

Wednesday, November 26th, 2008

(Recasts) By Cheon Jong-woo SEOUL, Nov 23 (Reuters) - South Korea's top financialofficials said on Sunday they had additional policy options tocombat the global downturn, a comment analysts saw as furtherpressure on the central bank to cut ...

Venezuelans vote in local election test for Chavez

Wednesday, November 26th, 2008

By Saul Hudson CARACAS, Nov 23 (Reuters) - Venezuelans vote on Sunday instate elections where President Hugo Chavez aims to consolidatehis grip on the OPEC nation to re-energize his drive towardsocialism a year after he suffered a referendum defeat. ...

NEWSMAKER-Summers gets second chance at U.S. economy

Wednesday, November 26th, 2008

By Glenn Somerville WASHINGTON, Nov 22 (Reuters) - Few people get a chance tosave the world once, much less twice. Lawrence Summers willneed all his intellectual firepower to make his second round asa key U.S. economic policymaker match up to past ...

Boom turns to gloom as crisis hits Dubai

Wednesday, November 26th, 2008

By Thomas Atkins - Analysis DUBAI (Reuters) - The seaside emirate of Dubai shifted into crisis mode this week as its breakneck building boom stalled, its lending bonanza evaporated and the government pondered wider steps to rescue banks. Dubai -- ...

Battered E*Trade banking on government funds

Wednesday, November 26th, 2008

By Jonathan Spicer NEW YORK (Reuters) - The troubles at E*Trade Financial Corp (ETFC.O: Quote, Profile, Research, Stock Buzz) have worsened and now hinge on whether it can secure U.S. government funds that would bring some relief to its book of bad mortgage ...