Central bank action on Wednesday to ease severe funding strains for the world's private sector banks may help cushion a brewing global credit crunch but it only buys some wiggle room for governments trying to resolve the euro debt crisis and keep banks lending.
Stocks rose 3 percent on Wednesday as major central banks jointly added liquidity to the world's financial system, easing worries about a global downturn.
The United Nations has announced that Mexican mariachi music, Chinese shadow puppetry and poetic dueling competitions in Cyprus are among several cultural traditions that are both crucial to a living culture and are at risk of dying out, prompting moves to protect and encourage their practice. UNESCO has placed 19 new items on the Intangible Heritage List.
Stocks surged on Wednesday as major central banks around the world acted jointly to add liquidity to the global financial system, sparking a rally in risk assets such as equities and commodities.
U.S. stocks rose more than 3 percent on Wednesday as major central banks acted jointly to add liquidity to the global financial system, boosting appetite for risky assets.
Despite warnings of travel chaos, the Nov. 30 public sector strike in the UK has caused no significant delays at Britain's main airports.
The Department of Transportation has launched its new Curbside Haiku safety program, which combines traditional Japanese poetry and modern art to increase traffic safety.
Oil jumped above the psychologically-significant $100 level on Wednesday after a coordinated move by central banks to address pressures in global money markets.
Japanese authorities may take weeks to make any arrests over the accounting scandal at Olympus Corp, though initial findings by an investigative panel of experts are due to be released in days, lawyers said.
Precious metals prices jumped Wednesday, with palladium surging nearly five percent, after the world's top central banks announced a coordinated rescue of the Eurozone's rapidly deteriorating finances.
LONDON - U.S. and British institutional investors walked away from euro zone bonds during November as fears for the future of the currency bloc grew, Reuters asset allocation polls showed on Wednesday.
Stocks were set to gain more than 2 percent at the open on Wednesday as a coordinated action by major central banks to provide liquidity to the global financial system boosted investors' appetite for risky assets.
Enbridge Inc's proposed C$5.5 billion ($5.3 billion) pipeline to British Columbia poses a raft of environmental risks, according to a new report that signals the project will become the next battleground over the future of Canada's oil sands.
Stock index futures soared on Wednesday as investors welcomed a coordinated action by major central banks to provide liquidity to the global financial system.
Australia's foreign minister on Wednesday backed the formation of a security pact with India and the United States, a tie-up that could fuel China's worries of being fenced in by wary neighbors.
The Nikkei share average ended lower on Wednesday, reversing two days of gains on profit-taking as investors remained cautious over new
developments in the Eurozone debt crisis and looked to data later in the week.
Toshiba Corp said on Wednesday it would close three of its six discrete chip-making facilities in Japan and also trim output of certain types of chips over the year-end as demand for PCs and TVs slides in Europe and the United States.
The Eurozone seems all set to enter a period of deep recession, with the credibility of governments' ability to keep the region in balance under serious doubt. The Organisation for Economic Co-operation and Development (OECD) has already issued a warning that Eurozone and U.S. leaders must act urgently to stop their debt crises from spiralling out of control.
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There is no quick fix to Europe's debt woes that threaten to escalate into a more widespread credit crunch, Bank of Japan Deputy Governor Kiyohiko Nishimura warned on Wednesday, voicing policymakers' growing concern about the deepening damage from the crisis.
Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.
Asian shares fell and the euro trimmed gains Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.
