World-News

The dollar dropped on speculation that the Federal Reserve will lower interest rates this month, sending gold and platinum futures to records.

http://tinyurl.com/3xp59p



ECB warns crashing dollar may stop Fed cuts

Rumours of an emergency rate cut over coming days by the US Federal Reserve have swept the global markets, setting off a fresh plunge in the dollar.

http://tinyurl.com/2tm6w8



Citi Loses Almost $10B, Slashes Dividend

Citigroup Inc. lost almost $10 billion in last year's final three months, the largest quarterly deficit in its 196-year history, and slashed its dividend and 4,200 jobs as it recorded a mammoth write-down for bad bets on the mortgage industry.

http://tinyurl.com/3dfjmr



Citigroup, Merrill Receive $21 Billion From Investors

Wall Street banks have now raised $59 billion, mostly from investors in the Middle East and Asia, to shore up balance sheets battered by more than $100 billion of writedowns from the declining values of mortgage-related assets

http://tinyurl.com/2j9c4l



Subprime lender to file for bankruptcy

First NLC Financial Services, will file for bankruptcy protection and plans to liquidate because demand among investors for home loans has vanished, the investment bank said Monday.

http://tinyurl.com/3a55tf



Whole prices up by 6.3 percent last year

Wholesale inflation shot up in 2007 by the largest amount in 26 years even though falling gasoline costs allowed price pressures to moderate in December.

http://tinyurl.com/2gypmy



Greenspan Sees U.S. as Likely In Recession, or Soon to Be

The U.S. is probably in or about to enter a recession, former Federal Reserve Chairman Alan Greenspan said.

http://tinyurl.com/2udrde



Greenspan Goes Over the Hedge

Blamed by some for subprime woes, he joins fund that profited in the crisis.

http://tinyurl.com/37c2qh



US subprime lenders targeted blacks, poor

US mortgage lenders targeted minorities and people with low incomes in recent years as the "best candidates" for subprime home loans, with devastating economic consequences, a report claimed Tuesday.

http://afp.google.com/article/ALeqM5h2767nPZrI2i5c3Ol9hKbmi8FvMA


From Information Clearing House



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