Business News

Most Asian markets rise after last week's sell-off

HONG KONG - Most Asian stock markets recovered in early trading Monday after last week's historic sell-off as governments around the world intensified efforts to boost the ailing financial system. ...

Australian markets start week surging on government guarantee

SYDNEY, Australia - The Australian share market rebounded strongly Monday in response to a government announcement that it would guarantee all bank and other lender deposits for three years. The be...

Mexico blames peso turbulence on speculation

WASHINGTON - Mexico's treasury secretary on Sunday blamed his country's volatile currency fluctuations on speculation, while predicting a calmer week ahead for the peso and Mexico's stock market. A...

South Korean shares rise sharply

SEOUL, South Korea - South Korean shares rose sharply Monday following last week's steep declines. The Korea Composite Stock Price Index rose 33.77 points, or 2.7 per cent, to 1,275.24 after a litt...

Indonesia shares extends losses as exchange reopens Monday

JAKARTA, Indonesia - Shares on the Indonesian Stock Exchange continued falling Monday after a trading suspension was lifted. The benchmark JSX index dropped more than six per cent in the opening ha...

U.S. Federal Reserve approves Wells Fargo's Wachovia buy

WASHINGTON - The U.S. Federal Reserve on Sunday approved Wells Fargo's $11.7 billion acquisition of Wachovia, removing the deal's last major regulatory hurdle. The Fed's move comes after federal an...

Oil companies to get details Monday on bidding for rights to Iraqi oil fields

BAGHDAD - Iraq's oil minister is meeting with representatives of international oil companies in London on Monday to discuss bidding on the rights to develop his country's petroleum fields. Last Apr...

Markets set for more losses: it's human behaviour at its extremes

TORONTO - Investors should be braced for more dizzying volatility this week following a week of steep losses as the freeze in global credit markets deepens despite concerted rate cuts by central banks...

High Liner Foods books $9 million foreign exchange gain on unwound hedge contracts

LUNENBURG, N.S. - High Liner Foods Inc. (TSX:HLF), a major Canadian fish processor, says it has booked $9 million in gains after unwinding some of its foreign exchange contracts it had previously book...

Key dates in Chrysler's recent history

May 7, 1998: Stuttgart, Germany-based Daimler-Benz, the maker of the upscale Mercedes Benz, announces a $36 billion merger with Chrysler. The new company, DaimlerChrysler AG, begins trading on the Fra...