Consumer Spending in U.S. Probably Dropped by Most in 7 Years
The U.S. sank into a deeper recession as consumer spending, the biggest part of the economy, dropped in October by the most since the 2001 contraction, economists said before a government report today.
By Shobhana Chandra
Nov. 26 (Bloomberg) — The U.S. sank into a deeper recession [...]
Yen Rises on Concern a Global Recession Will Curb Carry Trades
The yen rose against the euro and the dollar as speculation a global recession will deepen prompted investors to pare holdings of higher-yielding assets funded in Japan.
By Ron Harui and Stanley White
Nov. 26 (Bloomberg) — The yen rose against the euro and the dollar [...]
Japan, Thai Stocks Lead Asian Declines; Banks Buoy South Korea
Japanese and Thai stocks fell in Asia after Toyota Motor Corp.’s debt rating was cut and anti- government protesters shut Bangkok’s main airport. South Korean banks gained after regulators said risks are being controlled.
By Patrick Rial and Shani Raja
Nov. 26 (Bloomberg) — Japanese and Thai stocks [...]
Financial News
Nov. 22 (Bloomberg) — President-elect Barack Obama picked Timothy Geithner, head of the Federal Reserve Bank of New York, to be his Treasury secretary, with Lawrence Summers getting a senior White House role, a Democratic aide said.
Summers, former President Bill Clinton
