China plan boosts global equities (Reuters) and SNAPSHOT - Financial Crisis - 0930 GMT (at Reuters)
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City of Industry, CA --(www.USEquityNews.com)-- 11/10/2008 - International industry alert provided by U.S. Equity News. By Jeremy Gaunt, European Investment CorrespondentLONDON (Reuters) - World stock and commodity markets surged on Monday in reaction to China's plan to spend nearly $600 billion on stimulating its economy as G20 finance ministers pledged to do what is needed to revive financial markets. Oil leapt 3.8 percent, gold rose 1.5 percent and London copper 8 percent. [Read the full article]
China approves stimulus plan worth nearly $600 billion through 2010, focused largely on infrastructure, social projects - Fitch cuts Romania credit rating to "junk", says global crisis puts ratings of South Korea, South Africa, Russia, Mexico in jeopardy - Oil up at over $63 a barrel on Saudi cut, China news, copper, nickel prices jump as demand hopes brighten "They already have deficits now, which are very substantial, and for them the room for manoeuvring does not exist."- ECB's Trichet on countries which don't have China's financial muscle. Continued... [Read the full article]
* ECB's Nowotny: euro to gain vs dollar, steady vs Swiss franc * Nowotny: Japan faces deflation risk, euro zone does not * ECB's Trichet: no change to ECB anti-inflation mandate * Trichet: banks too slow to react to central bank, govt action (Releads with ECB's Nowotny) VIENNA/FRANKFURT, Nov 10 (Reuters) - The euro is likely to strengthen against the dollar
LONDON, Nov 10 (Reuters) - British Prime Minister Gordon Brown said on Monday that tax cuts could be used to help stimulate the British economy and it was a measure the government would be considering in the next few weeks. "We will look at everything but that's a matter for the budget and the pre-budget report," he told Good Morning Television when asked about possible fiscal moves to help Britain out of an expected recession in the coming year. "What I am determined to do is to get all countries around the world ... to get their economies moving again and one way you can do that is by putting more money into the economy by tax cuts or by public spending rises, but that is something that we have got to look at in the next few weeks," he added. [Read the full article]
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