Financial Crisis Snapshot
SNAPSHOT – Financial Crisis – 1330 GMT
Financial crisis
- New U.S. housing starts unexpectedly rebounded in February, surging 22.2 percent, according to data that provided a rare dose of good news for the recession-hit economy.
- Germany’s economy offered unexpected signs of optimism. A monthly poll by the ZEW economic institute in Europe’s biggest economy showed analyst and investor sentiment rising to -3.5 in March from -5.8 in February
- U.S. Fed seen holding rates, avoiding dramatic moves
- BOJ Governor Masaaki Shirakawa says a new $10.2 billion loan programme to help banks is aimed at those facing big risks from falling stock prices.
- U.S. Treasury plans to modify AIG (AIG.N) aid to recoup bonuses
- Ireland facing difficult recession which is worse than in the rest of the world, but its membership of the euro zone will help to mitigate the downturn – Finance Minister Brian Lenihan.
- Royal Dutch Shell says market conditions remain uncertain.
- Nokia to slash 1,700 jobs globally over the coming few months because of falling demand.
MARKETS
- World stocks pare early losses after Germany’s ZEW survey suggested economic sentiment was more resilient than thought but a fall in oil kept selling pressure strong.
- U.S. light crude slips nearly 1 percent to below $47 a barrel while spot gold tumbles to around $917 per ounce from $922.55 in New York on Monday.
- A surprise rebound in new U.S. housing drove the dollar higher against its global peers
Source