InfoAnda - Obama readies economic team as global recession fears rise

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Cisco, Juniper gear vulnerable to hacking: U.S. govt | Technology | | 3 December 2009
Kosovo denies Serb president Orthodox Christmas visit | | 5 January 2013
Israel's ex-president Moshe Katsav guilty of rape | 31 December 2010

Tomb protest turns deadly in Indonesia's capital | 15 April 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : Obama readies economic team as global recession fears rise

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Obama readies economic team as global recession fears rise AFP - Saturday, November 22 WASHINGTON (AFP) - - The economic team of US president-elect Barack Obama came into view as fears mounted on the global financial crisis and more mass job cuts loomed worldwide. Reports said Obama was set to appoint New York Federal Reserve chief Timothy Geithner as his Treasury secretary to take charge of fixing the ailing economy. The news sparked a massive rally on Wall Street as it instilled confidence that the new administration would move quickly on the crisis, capping another tumultuous day for global markets that also saw heavy losses in Europe. The Dow Jones Industrial Average vaulted 6.54 percent to close at 8,046.42, ending the week on a positive note. "The pick of Geithner indicates that the new Obama administration is taking steps to calm markets by eliminating uncertainty in naming his future economic team prior to January 20," said Andrew Busch at BMO Capital Markets. US markets had been wobbling after two days of brutal selling that erased some 10 percent from the main indexes, but got a late boost from reports on the new economic team in Washington. Obama was to personally unveil Geithner as the incoming Treasury boss at a news conference on Monday, along with New Mexico Governor Bill Richardson as commerce secretary and other members of his economic team, NBC News said. "This is exactly what I had been calling for and had an immediate positive impact," Busch said. "Clearly, the incoming Obama administration wants a continuation of the aggressive polices and programs that are in place to deal with the credit crisis." Meanwhile the economic news from around the world remained downbeat. In Lima, Chinese President Hu Jintao warned the outlook for the world economy was not looking good, but that continued strong growth in China could help serve as a global buffer. "The situation is very grim," Hu told world business leaders gathered in the Peruvian capital ahead of an Asia-Pacific economic summit. "The sound and steady growth of the (Asia-Pacific) economy is threatened by the grim world economic situation." Hu stressed that China's main contribution to world efforts to address the global financial crisis was to maintain steady economic growth at home. US President George W. Bush at the summit echoed the anti-protectionist tone as he arrived in Lima under the backdrop of gloom in the world economy -- a situation which many critics cite as leading directly from Bush's own economic policies. "Together, our nations must focus our efforts on three great forces that drive (regional) growth -- free markets, free trade and free people," Bush said. The White House had assailed the US Congress for putting off a vote on whether to bail out the struggling US auto industry, blasting Democrats for "mindless opposition." Democrats in the US Congress put off a vote on a 25 billion dollar bailout for the "Big Three" auto manufacturers until at least December and ordered them to come up with a new restructuring plan. Yves Smith, analyst with the financial website Naked Capitalism, said a collapse of General Motors would be "a disaster of colossal proportions." "GM would be a massive bankruptcy. It is doubtful whether it could obtain enough (debtor) financing, which means it might be forced into a partial, perhaps a full liquidation. The ramifications are nightmarish." Indian Commerce Secretary GK Pillai told reporters in New Delhi that the textile industry, the country's second-largest foreign exchange earner, will lose half a million jobs by April 2009 due to the financial crisis. The sector is estimated to employ around 38 million workers and accounts for about eight percent of the gross domestic product of Asia's third-largest economy. Other governments were working to protect industries, as the head of Ford Germany said the European Union should make around 40 billion euros (50 billion dollars) in loans available to the continent's ailing auto sector. Hypo Real Estate, Germany's biggest financial crisis casualty to date, said it has been given more help from Berlin with 20 billion euros (25 billion dollars) in loan guarantees. In Europe, the London FTSE 100 index of leading shares fell 2.43 percent to 3,780.96 -- its lowest closing level since April 3, 2003, capping an overall fall of 10.68 percent for the week. In Paris, the CAC 40 plunged 3.33 percent to 2,881.26 and in Frankfurt the DAX shed 2.20 percent to 4,127.41. With the news of Obama's potential economic team the Nasdaq composite climbed 5.18 percent to 1,384.35 and the Standard & Poor's 500 index jumped 6.32 percent to 800.03. In Latin American, Sao Paulo main Ibovespa index fell 6.45 percent to 31,250 points, falling for its fifth successive day to finish the week with losses of more than 12 percent. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo An everything-must-go sign in Coral Gables, Florida. The economic team of US president-elect Barack Obama came into view as fears mounted on the global financial crisis and more mass job cuts loomed worldwide Related Photos Slideshow US elections 2008 Most Popular – Top Stories Viewed Wall Street plunges again as panic spreads Oil prices slump under $50 per barrel New strain of deadly Ebola virus discovered World stocks dive as panic spreads Somali pirates demand 25 million dollars for Saudi oil tanker View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Friday, 21 November 2008
Jay Chou accidentally hurts Vincent Zhao while filming fighting sequences
Blast kills 6 mourners at Pakistani funeral
NATAS sets up fund to help members’ staff
Indonesia wants access to jailed terror suspect
Indian TV staff strike again, hours after calling off stoppage
China vows not to compromise with Tibetan exiles
Election official: Bangladesh poll may be delayed
US military: 4 militants killed in Afghan clash
Funeral bombing kills seven in Pakistan: police
Divisions cloud meeting of Nepal's ruling Maoists
Thai unions pledge strike unless government steps down
Bush effigy burned in anti-US protest in Baghdad
Islamists on trail of Somali pirates | International |
US details role for additional Afghan forces
Russian parliament approves bill lengthening presidential terms
Madonna and Ritchie granted divorce in London court
Russian church to set up vigilante groups: report
Thousands of Sadrists protest Iraq-US military pact
India says poor should not pay for 'profligacy' of rich nations
Use of nuclear weapons more likely in future: US intelligence
China refuses to budge on Tibet amid talks
Pakistani rupee ends flat, steadied by IMF deal
Monk, comedian handed lengthy Myanmar prison terms
US mil: American soldier dies in Iraq
HK stocks rise on talk of China rate cut
Teenage golfer Hak, 14, makes history
HK stocks rise on talks of China rate cut
China has only identified 19,000 quake victims: official
South Korea repatriates 6 North Korean fishermen
Indian stock index jumps on stimulus hopes
China vows not to compromise with Tibetan exiles
Thousands protest in Iraq against U.S. troops pact | International |
Macau's visitor arrivals rose 8 pct in October
Afghan official: suicide bomb attack kills 3
South Korean stocks rally despite Wall Street drop
Thai state workers threaten general strike
Cursed Congo still shocks and fascinates | International |
Sri Lanka military says it captured rebel airstrip
China shares end lower after surge; property gains
Thai police brace for violence | International |
Turkmens start to learn about election candidates
IAEA hardens fear of covert Syria atom site: U.S. | International |
Pakistan army practices shooting drone aircraft | International |
Bruce Willis wants cash back from Malaysia company
Ethiopia floods leave 100,000 homeless | International |
Gaza groups want calm with Israel: Hamas leader | International |
Google to shut down virtual world website | Technology |
Bruce Willis wants cash back from Malaysia company
Chris's braised duck is the way to Fann's heart
Van Fan will be holding his concert in Taipei Arena
Emperor Entertainment Group has denied reports that Edison Chen and Gillian Chung will make their comeback together
Ashlee Simpson-Wentz delivers baby boy | Entertainment |
Arrested Development film gets closer | Entertainment |
Monty, Wilson hot at Hong Kong Open golf
Prosecutors question Taiwan's Chen in jail
Recession warning as S.Korea won falls further
Japan's fishermen feel pain from economic crisis
DBS Asset, Hwang-DBS set up Islamic fund firm
Philippine stock index tumbles 4.1 percent
Report: Prosecutors question Taiwan's Chen in jail
Thai protester's death stirs up political waters
China: 19,000 of dead identified since quake
Shipper calls for military force on Somali pirates
Monk, comedian handed lengthy Myanmar prison terms
Philippine landslide kills 6, at least 1 missing
Chinese journalist sentenced to 3 years
Japanese Christian martyrs to be beatified
Ashlee Simpson-Wentz, Pete Wentz have baby boy
SCCCI welcomes govt’s enhanced measures to help SMEs and workers
Govt gives S$2.3b in loans through enhanced business financing schemes
Turkmenistan publishes names of candidates
Teen wins 'Twilight' car on 'Tyra Banks Show'
Paralympic medallists receive cash rewards for achievements
SPUR has more than 60 training pathways for workers
Employers and workers welcome SPUR scheme
Troubled Indonesian tycoon to drop cabinet post: spokesman
Famous NYC food critic loses job in sour economy
Chinese journalist sentenced to 3 years
Old checkpoint to get S$2.5m makeover aimed at easing congestion
Singapore's Temasek cuts pay to combat slowdown
Michael Jackson's assistant: Sheik gave him gifts
SAF FC wins RHB S’pore Cup against Woodlands in extra time
Pirates thwarted with MP3 sonic blast
Screenwriting guru McKee says Hollywood is finished
Myanmar court hands comedian 45-year prison term
Myanmar comedian sentenced to 45 years in jail
Renovated American history museum reopens
China, Taiwan hold high-level meeting
Arroyo's plane to make emergency landing
Singapore, China signs MOU on aviation security cooperation
Sienna Miller wins damages from photo agency
Vietnam and Venezuela set up 200 million dollar joint fund
New European online library crashes under weight of interest
Ex-Thai coup leader expects peaceful protests
Russian museum, Orthodox church spar over famed icon
Philippine leader's plane makes emergency landing
J-pop legend Komuro released on bail in copyright fraud
Fireworks and stars as Dubai hotel throws 20 mln dlr bash
Hard-hitting campaign targets young Aussie binge drinkers
Janet Jackson's 'Nipplegate' case could reach US high court
Miss World to spice up Confederations Cup draw
Philippine leader's plane makes emergency landing
Ashlee Simpson-Wentz, Pete Wentz have baby boy
UN panel urges China apology to 1989 protesters
Tibetan exiles debate the future of the movement
Rapper T.I. testifies in Ohio murder trial
Google unveils custom search, kills Lively
American History Museum gets a major makeover
Beatles bigger than Jesus? Just a Lennon joke: Vatican paper
New research platform launched to help commercialise new innovations
Japan's central bank warns of further risks
Blast kills 8 mourners at Pakistani funeral
Long after Olympics, Bird's Nest still draws crowd
Vloggers and stars alike gather for YouTube Live
US defense chief: More forces for Afghanistan vote
Rocket hits Israeli city, Gaza still sealed
Yahoo sells shopping service Kelkoo
Russian leader embarks on defiant Latin America tour
Syria rejects more IAEA visits for nuclear probe | International |
US renews appeal to Iran on missing American
Congo demands stronger mandate for reinforced UN troops
EU to launch Georgia-Russia conflict probe
Iraqi troops donate money to US wildfire victims
Lukoil could become main shareholder in Spanish oil major Repsol
French Socialists vote in leadership runoff
Iran fails to halt U.N. assembly rights resolution | International |
Amsterdam to close cannabis cafes
U.S., Russian officials wary on NATO-Russia ties | International |
Russian MPs approve longer presidential terms
Solana hopes EU Kosovo mission deployed early December | International |
New frenzy over reports Clinton to be secretary of state
US teen who lost feet on ride settles lawsuit
World economic situation 'grim,' says China's Hu
Correction: Africa climate change story
Hundreds wait at Verizon stores for BlackBerry Storm | Technology |
Eight Thai protesters wounded in new attack: emergency services
US attorney general leaves hospital after 'fainting spell'
Bush bows out, China assertive at APEC summit
US sending first envoy to Libya in 36 years
Afghan official: Suicide bomb attack kills 3
Even Google scales back on holiday fun | Technology |
Job slashing heightens global recession fears
Peru and SKorea to launch free trade talks
Bush seeks APEC backing on crisis
Florida teen kills self in front of live webcam | Technology |
New Zealand's Key says bottom of crisis not in sight
UN body criticises China over 'widespread' torture allegations
Malaysian inflation falls to 7.6% in October on lower fuel prices
US unsure of Kim recovery after 'health crisis'
India faces 500,000 textile job losses in five months: govt
Wal-Mart previews Black Friday deals to draw sales | Technology |
Taiwan president vows to avert recession: report
Russian computer game acts out new Georgia war | Technology |
Japanese carmakers continue downsizing
Actress Sienna Miller wins damages from paparazzi | Entertainment |
New Guns N' Roses album hits stores, a little late | Entertainment |
Screenwriting guru McKee says Hollywood is finished
For actor Roger Moore his word is his Bond | Entertainment |
Variety shows could return some spice to TV life | Entertainment |
Concert producers rose to challenge of Obama rally | Entertainment |
Two Broadway shows join growing list of casualties | Entertainment |
'Spamalot' moves up its Broadway closing
Singer Enya eyes concert stage as Winter arrives | Entertainment |
'13' set to close; 'American Buffalo' is undecided
Spears makes unexpected appearance in court
FCC appeals Janet Jackson case to Supreme Court
Tobey Maguire, Jennifer Meyer expecting baby No. 2
Renovated American history museum reopens
Kanye West's new album to debut on MySpace Music
US military deaths in Iraq war at 4,202
Grenade wounds 8 outside Thai PM office
US wants to send more troops to secure Afghan elections: Gates
US military deaths in Afghanistan region at 556
Punk musician Barker sues over SC plane crash
Myanmar court hands comedian 45-year prison term
Supporters to protest Taiwanese ex-president's detention
Tibetan exiles tackle future China policy
China angrily dismisses US congressional report
Philippine leader heads to summit
Japan, ASEAN to mull economic monitoring body-paper
Malaysia Islamic body bans yoga for Muslims
Changing demography of NSmen poses new challenges for SAF
Girls make up top PSLE students across main ethnic groups
Amnesty urges China not to execute convicted spy
Suspected US missile kills four militants in Pakistan: official
Man charged with spying for Israel hanged in Iran
IMF ready to help Latvia in economic crisis: IMF chief
Russian spy murder suspect makes offer to Britain: report
Panama's Caballero snatches boxing's IBF title from Molitor
New frenzy over Obama cabinet reports
Suspected U.S. missile strike kills 5 in Pakistan | International |
Obama readies economic team as global recession fears rise
Iran hangs Iranian convicted of spying for Israel | International |
Nebraska reforms 'safe haven' law
Terror plot mastermind killed by US missile in Pakistan: officials
Grenade wounds 8 Thai protesters ahead of Sunday rally | International |
Report: North Korea rejects UN rights resolution
China, Russia bid Bush farewell at trade summit
Formula One driver Webber 'seriously injured'
Sri Lanka's trade gap narrows from Jan to Sept
Philippine police arrest suspected militants
'Nostalgic' Bush, Hu, discuss NKorea, Obama
Palm cutting jobs as competition intensifies | Technology |
Nikon lays off 1,500 in Thailand as demand slumps
Search fails to find 29 fishermen in South Pacific
Sprint Nextel's CDMA exec John Garia steps down | Technology |
Yoga forbidden for Muslims in Malaysia: official
Nepal 'Buddha Boy' returns to jungle
Taxi drivers strike in southern China
Nokia to start Japan cell phone service in 2009: report | Technology |
Indonesia leader demands oil states take crisis action
Twilight draws first blood at packed midnight movies | Entertainment |
New Guns N' Roses album hits stores, a little late | Entertainment |
Warren Beatty sues Tribune over Dick Tracy rights | Entertainment |
Bruce Willis sues over green rubber investment | Entertainment |
U.K. band Franz Ferdinand swings on 3rd album | Entertainment |
Philippines' Arroyo heads to Peru after emergency landing for husband
China dismisses US espionage report as misleading
Malaysia Islamic body bans yoga for Muslims
Chinese social critic jailed for subversion: lawyer
Grenade wounds 8 outside Thai PM office
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01