Home/Newsfeed

Forex News and Rumors for October 16th, 2008

Share Print 0

Merrill Lynch Posts Loss of $5.1 Billion

The brokerage house, which last month accepted a takeover bid from Bank of America also said it would issue $10 billion of non-voting preferred stock and related warrants to the U.S. Treasury under the government program that gave Bank of America a $25 billion capital injection earlier this month.

Read the Full Article

$2.8 Billion Loss at Citigroup on More Write-Downs

The bank took more than $13.2 billion in charges in the third quarter, bringing the total amount of write-offs and credit losses since the credit crisis began last year to more than $64 billion.

Read the Full Article

Switzerland unveils UBS bail-out

UBS is raising 6bn Swiss francs ($5.3bn; £3.1bn) from the government.

It will also be able to transfer up to $60bn of distressed assets to a fund supported by the Swiss central bank.

Read the Full Article

EU central bank gives Hungary access to $6.75B

Hungary’s currency, the forint, has been under pressure for days and has weakened markedly against the euro and the U.S. dollar.

Read the Full Article

Nikkei Sinks 11.4%, Worst Loss Since ’87 Crash

The Nikkei average tumbled more than 11 percent on Thursday in its biggest one-day loss since the 1987 stock market crash after weak U.S. economic data intensified fears that recent global financial rescue measures will not be enough to stave off a recession.

Read the Full Article

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

Back to Top