Global Investing

Financial crisis helps Berlin take root for fashionistas

July 1, 2009

Berlin is slowly but surely establishing itself as one of the top global catwalks for the bold and the beautiful of the world of high fashion — and the global financial crisis seems to be doing nothing to slow it down.

The end of the end?

April 20, 2009

While nobody would be rash enough to predict the end of the economic downturn, there are certainly increasingly loud murmurs that the bottom of the stock market fall may have come.

from MacroScope:

Canada dresses up for bears

April 8, 2009

For all the designer drinks and gourmet foods - from raw oysters to sushi, and the sea of men in expensive suits and bejeweled women in elegant gowns, the setting seemed fit only for celebration.

from Raw Japan:

Government stock rescue?

February 26, 2009

Japanese stocks are sinking towards levels unseen since 1982, sending alarmed government officials scurrying to come up with some way of propping them up.

The Dow: A long way down

February 23, 2009

U.S. stock indices hit an 11-year low on Feb. 23, as stocks continued their sharp decline from the peak of 2007. This chart looks at some key events that helped to drive stocks down over the last 16 months.U.S. stock indices hit an 11-year low on Feb. 23, as stocks continued their sharp decline from the peak of 2007. This chart looks at some key events that helped to drive stocks down over the last 16 months. Warning: This may cause post-traumatic flashbacks in some investors.1 – Oct. 9 2007U.S. stocks rose to record highs on speculation the Federal Reserve was on course to cut borrowing costs further to revive economic growth. The Dow Jones industrial average climbed 120.80 points, or 0.86 percent, to end at 14,164.53, a record.2 – Oct. 19 2007Caterpillar Inc.’s warning that the housing slump was infecting the wider economy sent U.S. stocks tumbling by the most in more than two months, in a drop that was made more unnerving as it marked the 20th anniversary of the 1987 market crash.The Dow fell 366.94 points, or 2.64%, to end at 13,522.02.3 – Feb. 5, 2008U.S. stocks suffered their biggest drop in nearly a year after the Institute for Supply Management’s non-manufacturing index data showed the worst monthly contraction in the services sector since the last U.S. recession and Standard & Poor’s warned it could cut bank credit ratings.The Dow had its biggest drop since the indicator was created in 1997, down 370.03 points, or 2.93 percent. Settling at 12,265.13, the index was at its lowest level since October 2001, aggravating fears that a recession was at hand.4 – June 6, 2008U.S. stocks extended losses as surging oil prices fueled inflation fears, adding to concerns sparked by a government report that showed the unemployment rate had its sharpest rise in 22 years in May.The Dow fell 3.13 percent to close at 12,209.815 – Sept. 29, 2008Stocks tumbled after the U.S. House of Representatives voted against a compromise bailout plan that would have let the Treasury Department buy toxic assets from struggling banks. House Republicans, in particular, balked at spending so much taxpayer money just before the Nov. 4 U.S. elections.The Dow fell 6.98 percent to 10,365.45 points.6 – Oct. 15, 2008Wall Street had its worst day since the 1987 stock market crash, as bleak economic data fed worries that efforts to unlock credit markets might not stave off a severe recession. Federal Reserve Chairman Ben Bernanke added to those concerns when he said the economy faced a “significant threat” from paralyzed credit markets.The Dow fell 7.87 percent to 8,577.91.7 – Dec. 1, 2008U.S. bank stocks suffered their biggest one-day decline in the current financial crisis, on expectations a deepening global economic slump would reduce employment, crimp access to credit and spur more writedowns.The Dow fell 7.7 pct to 8,149.09– Chris Sanders

Nowhere to hide

February 6, 2009

Shampoo, margarine and medicine – surely some things will be okay in a recession?

from MacroScope:

Hey Europe, stop acting so happy

January 26, 2009

Merrill Lynch economist David Rosenberg's views are well-known for bearing no resemblance to his firm's trademark bull, so when he says European clients seem too upbeat, what he really means is they weren't thoroughly depressed. The New York-based economist just got back from a marketing trip across the Atlantic and didn't find much common ground.

And the next Iceland is…

January 23, 2009

If there’s one thing you don’t want to be, it’s the next Iceland.

Since its currency, colossally indebted banking sector and economy collapsed in spectacular fashion in October, the country has become a byword for an economy that has truly hit the rocks.

Bosses in the dark

January 20, 2009

Business bosses, it seems, are as much in the dark as the investors who buy stocks in their companies.

from MacroScope:

Political poster child?

January 7, 2009

George Alogoskoufis is a hardly a household name outside Greece and EU financial circles. But the newly sacked Greek finance minister could yet become a poster child for politicans struggling to fight off economic decline and banking industry collapse. His demise was in large part due to a public perception that he was helping out the banks but ignoring rising joblessness.