THE US could face a deep, prolonged recession from the current financial turmoil, with the eurozone less at risk, the International Monetary Fund said in a report overnight
THE euro hit its lowest point in 13 months against the US dollar overnight on growing speculation eurozone interest rates will be cut soon to offset the impact of unprecedented turmoil on global markets
EUROPEAN stock markets have fallen sharply following disappointing economic data from the United States and a decision by the European Central Bank to maintain interest rates at current levels
US Speaker of the House Nancy Pelosi said she was "optimistic" the House will now pass a financial rescue package which it rejected earlier in the week
WALL Street tumbled today with investors nervous about the global banking crisis as a crucial vote neared in the US House of Representatives on a massive financial rescue package
HBOS Australia has declined to comment on speculation that it is talks with Commonwealth Bank of Australia (CBA) about selling its BankWest arm, and says it`s business as usual
LEND Lease says it will not seek any further acquisitions in the short term after agreeing to buy 41 per cent of listed retirement homes operator Babcock & Brown Communities (BBC) in a deal worth $236.8 million
ANZ`s chief of Australian operations Brian Hartzer says the bank intends on pass on as much of an expected official rate cut as it can, given the current level of wholesale funding costs
