Dubai debt delays revive fear of financial crisis
Investors recoiled from risky assets on Friday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the financial turmoil of the credit crisis. Read Full Article here.
Banks play down Dubai exposure, markets still wary
Banks outside the Gulf played down on Friday their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Read Full Article here.
Shoppers hit Black Friday sales with pared budgets
Americans headed to department stores in droves in the dead of night on Friday to kick off the holiday shopping season, though many said they had pared back how much they would spend on family members and on themselves. Read Full Article here.
ING prices $11.2 billion cash call at steep discount
ING priced a rights issue intended to raise 7.5 billion euros ($11.2 billion) at a steep discount, hoping to reduce its dependence on state aid by tapping shareholders made warier by Dubai's debt crisis. Read Full Article here.
Bank of Japan checks rates, but intervention unlikely
The Bank of Japan stepped closer to currency intervention on Friday than at any time in the last five years by checking exchange rates with commercial banks as the yen rallied to a 14-year high against the dollar. Read Full Article here.
Bonus rebound set to move the dial for Swiss watches
A return to lavish bonuses for Wall Street's top earners could be just the tonic that the Swiss watch industry needs this Christmas after months of austerity depressed sales. Read Full Article here.