To stabilize US economy and the financial system, the Federal Reserve has announced to offer another $800bn stimulus. According to the US Treasury Secretary Henry Paulson, the package has been announced for the availability of more lending to consumers. The new package will be used to buy mortgage-backed securities and thaw out the freezing consumer Read more
Because of new concerns that the global economy faces an extended downturn, worldwide shares have fallen sharply. In the US, Dow Jones index closed Tuesday 177 points or 2% down to 8,694 and it was mainly due to poor results overnight from Starbucks. Continuing fears over General Motors future also hit US investors confidence. Similarly, Read more
High value of the yen and intense decline in the US car market became the cause of 41% fall in Nissan half-year profits. Nissan made a net profit of 126bn yen between April and September, while it was 212bn yen a year earlier. There was an overall 4.7% rise in sales, but in the US Read more