Economic News

NEW YORK NEW YORK, Oct 6 (Reuters) - U.S. stocks fell on Monday, with the Dow diving more than 500 points to below 10,000 for the first time in four years, as investors feared the widening fallout from the credit crisis would drag the economy into recession. Wall Street's tumble was part of a global sell-off. But as severe as the U.S. losses were, they were still significantly less than th ...

Philip Scott, This is Money6 October 2008 Last month marked 13 consecutive months of falling house prices in England and Wales with the average property dropping in value by more than 1% during September. OTHER STORIES Biggest ever house price fall of 12.4% House prices fall £1,600 in a month Noel Edmonds' £350k property profit Asking prices rise despite credit crunch Home loans plunge spurs rate cut hope PROPERTY CALCULATORS > House price c ...

LONDON, Oct 6 (Reuters) - Euro zone government bond prices rocketed to fresh 6-1/2 month highs on Monday as share markets reeled on credit jitters and fears of a potential global recession, spurring demand for less risky fixed income assets. Interbank money markets remained gummed up with banks reluctant to lend to each other as contagion from the credit crisis spread in Europe. German lender Hy ...

WASHINGTON (Thomson Financial) - Federal Reserve Bank of Chicago President Charles Evans said today that increasing stress in the credit markets will keep US growth "quite sluggish" into 2009, but declined to say more interest rate cuts would be needed in order to shore up US growth, even as he acknowledged that the Fed would continue to assess the situation as it evolves. However, he a ...

OTTAWA, Oct 6 (Reuters) - Canada wants the Group of Seven industrialized nations to coordinate action on the global financial crisis in such a way that does not harm taxpayers, Prime Minister Stephen Harper said on Monday. Harper, who looks set to retain power in Canada's Oct. 14 general election, said Ottawa is ready to help banks if needed, but repeated that he was optimistic about the o ...

NEW YORK NEW YORK, Oct 6 (Reuters) - U.S. stocks fell on Monday, with the Dow diving 400 points to below 10,000 for the first time in four years, as investors feared the widening fallout from the credit crisis would drag the economy into recession. Wall Street's tumble was part of a global sell-off. But as severe as the U.S. losses were, they were still significantly less than the sharp de ...

David Williams, Evening Standard6 October 2008, 2:11pm The number of new cars sold in Britain last month plunged by 21.2%, figures revealed today. Slowdown: New car sales were doen by a fifth last month WANT TO KNOW MORE? How to haggle on new car prices Why that sporty car may drive you to ruin Analysis: Car sales worst since 1966 OTHER STORIES Pressure on Darling to guarantee all savings Iceland freezes all bank share trades Market report: Monday latest Oil prices ...

Robert Lea, Evening Standard6 October 2008, 2:42pm Two of Europe's largest banks stoked fears of a domino effect among the Continent's troubled financial institutions today as UniCredit and Danske moved to shore up investor confidence. WANT TO KNOW MORE? Europe set for growth slowdown This could damage the whole of Europe OTHER STORIES UK bank shares shaken as fears grow Market  ...

This is Money | Last updated:6 October 2008, 12:48pm Reader comments (76) | Vote | Calculate Interest rates have a direct impact on everyone's finances, whether it's their mortgage payments, credit card bills or savings account. Below you'll find expert views on where rates are headed, followed by the latest news, analysis and advice on the site. We also reveal how mortgage rates (and the key Libor rate) move vs interest rates. >> Get rates decisions emailed to you: Newsfla ...

LONDON, Oct 6 (Reuters) - Oil prices hit an eight-month low on Monday and demand worries battered base metals and agricultural products, as investors dumped commodities on deepening fears of global recession. Gold traded near a two-week low before recovering as investors rushed to safety, offsetting the firmer dollar. A $700-billion bank bailout plan approved by U.S. lawmakers last ...