BHP Billiton Ltd. Honda Motor Co. The gauge lost 4 percent this week, taking declines in the past year to 50 percent, as the global recession pummeled profits at companies including BHP and Honda. European stocks dropped, pushing the Dow Jones Stoxx Index to the lowest in more than 12 years, before a report that may show the U.
The U.S. Financial System Is Effectively Insolvent
Stocks have been surging -- since bottoming on March 9 -- on bets that the worst for the economy is over. Those bets were furthered Monday by the day's economic news. The March pending home sales index from the National Association of Realtors jumped 3. Another report, from the government, showed construction spending rose 0. A 's Warren Buffett, who said he sees the recession ending soon and predicts that no big bank will fail.
Stronger-than-expected US jobs data boost stock markets – as it happened
Julia Kollewe. Fri 1 Nov The pound is stable against the dollar and the euro, after enjoying its strongest monthly rise since in October. It rose 5.
For those who argue that the rate of growth of economic activity is turning positive--that economies are contracting but at a slower rate than in the fourth quarter of the latest data don't confirm this relative optimism. So things are even more awful in Europe and Asia than in the U. There is, in fact, a rising risk of a global L-shaped depression that would be even worse than the current, painful U-shaped global recession. Here's why:.