Forex News and Rumors

Obama Gets Tough with Auto Manufacturers

In a startling move over the the weekend, the Obama administration has forced the resignation of General Motors Chairman Rick Wagoner. The White House has also questioned the viability of General Motors and Chrysler saying that the plans the two companies submitted over the weekend were “unacceptable” and unless the companies are prepared to “remake” themselves, the government will not commit to further funding. More

Oil Drops Below $51

Profit-taking and uncertainty around the G20 Summit Meeting are being blamed for a reversal in the price of crude as the benchmark prices fell nearly $2 a barrel in Monday morning trading in Europe and Asia. More

Some Banks Will Need More Funding: Geithner

U.S. Treasury Secretary Timothy Geithner told a news program aired Sunday that some financial institutions will require substantial government aid in order to remain solvent. He also warned against taxing investors who participate in the Private Public Investment Program intended to buy the toxic assets held by many of the large banks. More
Spain Forced to Provide Bail Out Help for Regional Bank

Share prices for Spain’s financial institutions fell today after the government announced that the Bank of Spain would assume control over Caja Castilla la Mancha. More

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.