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Loading ...GMA News.tv » Investor fear remains deep despite 1-day rally
NEW YORK – Since the Nov. 4 election, investors have been abandoning stocks in a kind of slow-motion crash that experts say underlines just how anxious they are about what is likely to be a long and deep recession. [Link]
GMA News.tv » APEC leaders say no to protectionism, yes to Doha
LIMA, Peru – Leaders who oversee half the world's economy pledged Saturday to avoid protectionism but shied away from any new proposals on the financial crisis because of somebody who wasn't there: U.S. President-elect Barack Obama. [Link]
GMA News.tv » Obama's economic plan: 2.5M new jobs by 2011
WASHINGTON – President-elect Barack Obama promoted an economic plan Saturday he said would provide 2.5 million jobs by rebuilding roads and bridges and modernizing schools while developing alternative energy sources and more efficient cars. [Link]
GMA News.tv » Obama economic plan aims for 2.5M new jobs by 2011
WASHINGTON – President-elect Barack Obama promoted an economic plan Saturday he said would provide 2.5 million jobs by rebuilding roads and bridges and modernizing schools while developing alternative energy sources and more efficient cars. [Link]
GMA News.tv » APEC leaders: Trade protectionism is road to ruin
LIMA, Peru - Leaders of 21 nations in Asia and the Americas said Saturday that the world's top economies must resist protectionist measures - no matter how punishing the global downturn gets. [Link]
GMA News.tv » Pressure on Citigroup builds, stocks below $4
NEW YORK - Pressure intensified on Citigroup to sell part or all of itself as its stock fell below $4 a share on Friday and fears escalated about future loan losses. [Link]
GMA News.tv » US regulators shut 2 California banks
WASHINGTON - US regulators have shut down two banks based in Southern California, saying they fell victim to the acute distress in the housing market in that state. [Link]
GMA News.tv » GM, Chrysler making deep cuts to hold on for loans
DETROIT, Michigan - When Chrysler was near death and awaiting a government bailout in 1979, then-CEO Lee Iacocca ordered drastic spending cuts and required all checks above $1,000 to be approved by a senior vice president. [Link]
GMA News.tv » Automakers need to make case for government aid
WASHINGTON - Democratic leaders ordered the United States' Big Three automakers Friday to submit what amounts to a detailed loan application to Congress so lawmakers can decide whether to give the beleaguered industry an emergency $25 billion lifeline. [Link]
GMA News.tv » Venezuelan oil falls to lowest price in 22 months
CARACAS, Venezuela - Prices for Venezuelan oil reached their lowest level in 22 months Friday as fears of a global recession stalled demand, slashing the main source of cash for President Hugo Chavez's hefty state spending. [Link]
GMA News.tv » Chile's Bachelet won't take wage hike amid crisis
SANTIAGO, Chile - Chile's president promised Friday that she would not accept a 10 percent wage hike approved for all public workers, and called instead for austerity amid the world economic crisis. [Link]
GMA News.tv » US will guarantee up to $1.4T in bank debt
WASHINGTON - Federal regulators will guarantee as much as $1.4 trillion in US banks' debt in a bid to get the distressed financial system pumping again. They also took steps Friday to make it easier for private investors to buy banks seized by the government. [Link]
GMA News.tv » Dollar mostly falls as equities edge higher
NEW YORK - The dollar mostly fell Friday as stocks surged nearly 500 points on reports that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary. [Link]
GMA News.tv » Leaders of Asia, Americas face pressure on economy
LIMA, Peru - Leaders of Asia and the Americas faced mounting pressure Friday to stop the spread of the financial crisis and resuscitate moribund free-trade talks as they flew into Lima for a weekend summit. [Link]
GMA News.tv » US stocks jump on report of Geithner nomination
NEW YORK - Wall Street is ending a volatile week with an unexpected jolt of confidence following reports that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary. The major indexes have jumped more than 5 percent, with the Dow Jones industrials surging nearly 500 points. [Link]
GMA News.tv » Crude oil futures waver
HOUSTON - The price for regular gasoline tumbled below $2 a gallon (53 cents a liter) Friday, its lowest point in more than three years, and crude oil futures edged higher in volatile trading. [Link]
GMA News.tv » Govt told to explain half-year implementation of tax relief law
MANILA, Philippines - The Supreme Court has ordered the government to comment on the allegations of Senator Manuel A. Roxas that it is not fully implementing a wider tax relief for minimum wage earners. [Link]
GMA News.tv » Taiwanese HTC seeks to double RP sales
MANILA, Philippines - TAIWANESE luxury mobile phone maker HTC is eyeing triple-digit growth in its local operations next year despite the threat of slowing demand due to the slowing economy. [Link]
GMA News.tv » Asiatrust posts net loss, meets CAR requirement
MANILA, Philippines - Asiatrust Development Bank, Inc. posted a net loss of P5 billion in the nine months to September, as income from loans shrank after it adopted a cautious lending stance amid a worsening financial crisis in the US and Europe. [Link]
GMA News.tv » Ayala Land launches RP version of Silicon Valley
MANILA, Philippines - Ayala Land, Inc. may bid for the development of a 90-hectare property of the University of the Philippines (UP) in Diliman, which is envisioned to become the country"s version of Silicon Valley. [Link]
