Word: monday
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...eviscerated markets last week. The earlier rout was caused by continuing fears that governments were not sufficiently committed to prevent the world's finance and banking sector from collapsing - worries temporarily allayed by rescue plans announced over the weekend in Washington and Paris, and detailed in trillion-dollar-terms Monday. But the confidence those measures inspired in global markets has given way to more classic concerns among traders of a looming economic downturn - or quite probably recession - undermining the business activity and results of traded companies. That souring of spirits was evidenced Wednesday with indices sliding across Asia and Europe...
...study released by the Open Europe think tank Monday estimates that the cost of the package as a whole will rise to almost $100 billion a year by 2020. Open Europe Research Director Hugo Robinson said the climate change plan "comes at exactly the wrong time for hard-pressed families all around Europe," and "will channel money towards very expensive and inefficient means of reducing CO2 emissions, imposing unnecessarily high costs on people struggling through already tough economic conditions...
Message to Wall Street: Don't put away your worried faces just yet. Monday's 11% bounce on the Dow Jones industrial average was followed by a more solemn Tuesday, with the Dow sinking .8% as investors pulled back fearing tough times ahead. There's still a real economy out there - and it's still hurting. Shares in blue-chip companies fell yesterday as layoffs in places like PepsiCo loomed. In the days ahead, Wall Street will receive several reality checks that could take the fizz out of any good cheer brought on by the Dow's biggest...
...revealing an additional $63 billion aid package to Britain's top three banks Monday, Prime Minister Gordon Brown similarly tabled a document detailing the plan, which noted beneficiaries must maintain "over the next three years, the availability and active marketing of competitively priced lending to homeowners and to small businesses at 2007 levels". Such vivid expectation isn't limited to France and Britain. In virtually all countries whose financial systems are being bailed out by the state, governments are beginning to apply pressure for credit to finally being circulating again...
...before Election Day, the Republican presidential nominee faces a daunting overall task. He is so far behind in the national polls and in most key individual states that it is difficult to assemble a single combination of Electoral College votes to get him to the necessary 270. Despite Monday's unprecedented stock market rebound and Tuesday's campaign announcement introducing a new McCain economic policy proposal, voters largely continue to blame the Republicans for the financial crisis and the gloomy mood of an unstable nation. At the same time, the impact of Obama's massive fund-raising advantage...