AIG Books $61.7 Billion Quarterly Loss
Markets in Europe and Asia opened down this morning on news that AIG posted a loss of $61.7 billion for the quarter. Described as a “system risk”, this is the largest quarterly loss in corporate history. More
In addition to the $150 billion already supplied to AIG, the US government announced another $30 billion in emergency funding.
UK Factories Continue to Slow Production
Latest results from the Purchasing Managers’ Index (PMI) shows that manufacturers cut jobs and outut at a record pace in February falling to 34.7 from 35.8 in January. More
Consumer Spending Jump in January Not Expected to Continue
After six straight months of declines, consumer spending rose a modest 0.6 percent in January due mostly to increased food prices and other nondurable goods. Experts expect the increase to be short-lived however, and predict falling consumer spending for the next several months. More
EU Votes Against Bailout for Eastern Europe
European Union leaders voted against providing a bailout to several Eastern European countries over the weekend driving the euro down against the dollar. More
This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.