News and Finance

It’s almost time to vote. After months of debating the issues, Americans go to the polls on Tuesday to select who they want to serve as the nation’s 44th president.
The election, of course, comes at a critical moment for the U.S. economy — and the next president will play a central role guiding […]

The Federal Reserve’s unusual move to ease credit for businesses lifted U.S. stocks at Tuesday’s open.
The Dow Jones industrial average (INDU) bounced above the 10,000 mark - which it fell below Monday for the first time in nearly four years - with a gain of more than 100 points. The Standard & Poor’s 500 […]

Not a single initial public offering was done on the Toronto Stock Exchange in the third quarter, according to a regular survey released Thursday, the first time this measure has recorded no activity on Canada’s senior equities market.
With ongoing market volatility, the IPO climate may not improve until 2009, consulting firm PricewaterhouseCoopers said, in […]

The dollar tuned mixed Friday after rallying early in the day following the government’s announcement that it was putting together a plan to help banks get rid of bad debts.
Additionally, the Securities and Exchange Commission early Friday moved to halt short selling in 799 financial securities, while the Treasury Department said it would provide […]

Capping an extraordinary day in financial markets, authorities pieced together an emergency $85 billion rescue of insurance company American International Group Inc to stave off a bankruptcy that could have thrown world markets into deeper turmoil.
AIG’s rescue calls for the Federal Reserve to lend up to $85 billion to AIG for two years in […]

Bank of Korea Governor Lee Seong Tae said inflation will probably remain elevated for a significant period, an indication he may keep interest rates at an eight-year high this year.
The central bank left the seven-day repurchase rate at 5.25 percent in Seoul earlier today, as forecast by all 23 economists surveyed by Bloomberg […]

New Hampshire securities regulators on Thursday accused banking giant UBS of defrauding the state’s leading issuer of student loans.
In a civil complaint, the Bureau of Securities Regulation said UBS (UBS) Securities LLC knew the auction-rate securities market was on the verge of collapse in February, but was "actively encouraging" the lender to sell more […]

Following is a summary of Gross Domestic Product from the Commerce Department. ===============================================================================
2Q 1Q 4Q 3Q 2Q 1Q 4Q
2008 2008 2007 2007 2007 2007 2006 ===============================================================================
————-Annualized Quarterly Change————– Real GDP 1.9% 0.9% -0.2% 4.8% 4.8% 0.1% 1.5% YOY percent 1.8% 2.5% 2.3% 2.8% 1.8% 1.3% 2.4% Personal consumption 1.5% 0.9% 1.0% […]

Asian economies are in store for a “bleak time'' in the next 18 months as surging inflation erodes corporate earnings, Aberdeen Asset Management Asia Ltd. said.
“The majority of companies are facing rising costs: rising property costs, rising wage costs, rising raw material or energy costs,'' said Aberdeen's Hugh Young, who helps manage $47.8 […]

The U.S. budget surplus narrowed in April from a year ago, reflecting increases in spending on defense and programs such as Social Security and Medicare.
Revenue last month rose 5.2 percent, while spending increased 18.7 percent, leaving a surplus of $159.3 billion, the Treasury said today in Washington. The excess was down from a […]