Daily News Channel
It’s ugly, but it’s true: when a Washington power player looks set to fall, the capital drools. So Treasury Secretary Timothy Geithner found himself the object of intense interest when he came before the House Ways and Means committee to testify Tuesday. It was his first major public appearance since his less than inspiring rollout Feb.
European markets closed lower Tuesday, following a global selling spree the day before. Europe’s major exchanges drifted up in morning trading but by the end of the day London’s FTSE 100 was down 3.1 percent, the CAC 40 lost 1 percent and Frankfurt’s Dax 30 sank 0.5 percent.
The German government is studying a proposal from Opel and its parent company, General Motors, to save the struggling carmaker with a huge cash injection and a cost-cutting plan. The proposal calls for GM to sell off a stake in its Opel unit, the core of its European operations, in order to win $4.18 billion (€3.3 billion) in government support from Germany and others in the region, said Andreas Kroemer, a spokesman for GM Europe.
European markets opened higher Tuesday, following a global selling spree the day before, although fell back slightly by early afternoon trading.
European markets opened higher Tuesday, putting at least a temporary hold on the latest global selling spree. Europe’s major exchanges were all higher in early trading
Meeting in Brussels for a long Sunday lunch, European Union leaders were supposed to clear the air after weeks of jibes, sneers and slurs over who is to blame for the economic crisis. But after a three-hour meal of goat cheese, beef stew and apple crumble, they emerged as ratty as ever, barely concealing their long-standing gripes and graphically revealing how far the E.U. is from any coordinated response to the downturn
Stocks crashed through a psychological barrier on Monday, falling below 7000 to close down 4.24% for the day, at 6763 — the first market close under 7000 since May 1997. The broader S&P 500 was down sharply as well, falling 4.66% to finish at 700.82. The market opened on a sharp down note after absorbing a weekend of anxiety over AIG, the black hole of an insurance company that is swallowing another $30 billion of government assistance with no assurance that it won’t need more.
Wall Street’s benchmark Dow Jones index plunged Monday to close at levels not seen since 1997 — after U.S. insurance giant AIG revealed monumental quarterly losses of $62 billion. AIG’s results came hours after the U.S
An outbreak of meningococcal meningitis in India’s remote northeastern state of Tripura has left 18 people dead in less than a week, health officials said Monday. Search crews have now recovered at least 73 bodies from a river, sewers and three mass graves inside the Bangladesh Rifles (BDR) paramilitary headquarters, where the rebellion occurred Wednesday. Fifty-one of the dead were confirmed as army officers, the home ministry said
The Bangladeshi army fanned out across the country Monday, hunting down paramilitary troops who fled their barracks in the capital, Dhaka, after a deadly uprising that killed dozens of their superiors. Search crews have now recovered at least 73 bodies from a river, sewers and three mass graves inside the Bangladesh Rifles (BDR) paramilitary headquarters, where the rebellion occurred Wednesday.