UPDATE 1-Vale drops iron ore price rise demand, to pay freight

The global economic slowdown, coupled with a domestic housing slump, hit Chinese domestic steel demand and exports. Top steel mills in China have cut output and purchased less iron ore, and are readying for an unprofitable fourth quarter. Lower global ...

FOREX-Dollar steadies, European rate decisions eyed

... bracing for another round of interest rate cuts this week by the world's major central banks. The European Central Bank, the Bank of England and the Reserve Bank of Australia are all set to lower rates to ... Federal Reserve cut its key rate by 50 basis ...

Dodging another Great Depression

Federal Reserve, Bank of Japan and People's Bank of China all lowered interest rates last week. With the rate cuts, government steps to shore up banks and guarantee loans, and programs to get hard currency into emerging markets, credit is starting to ...

Consumers slash spending, world markets stabilize

The Bank of Japan cut interest rates for the first time in seven years on Friday in a move that followed a rate cut by the U.S. Federal Reserve on Wednesday. The European Central Bank and the Bank of England are expected to do the same next week. In ...

Japan cuts rates

The Bank of Japan's move followed a cut in interest rates from the U.S. Federal Reserve earlier in the week and likely presaged the same from the European Central Bank and Bank of England next week. Policymakers have been struggling to find the right ...

UPDATE 1-FDIC's Bair says U.S. working on home loan program

WASHINGTON, Oct 23 (Reuters) - U.S. banking regulators are working closely with the Bush administration to create a loan guarantee program that would serve as an incentive for servicers to modify home loans, the chairman of the Federal Deposit ...

UPDATE 3-Avon shows cosmetics not safe in slowdown, shares fall

... Stock Buzz ) and rivals Estee Lauder (EL.N: Quote , Profile , Research , Stock Buzz ) and Elizabeth Arden (RDEN.O: Quote , Profile , Research , Stock Buzz ) withstood economic woes for months as U.S. consumers felt the pain of a housing slump and credit crisis

UPDATE 1-Chemtura suspends dividend, cuts capital spending

The company hopes to refinance the notes or redeem them with the proceeds of an asset sale. If market conditions remain difficult, however, Chemtura said it would refinance the notes from one of its other sources of liquidity. As of Sept. 30, Chemtura ...

MONEY MARKETS-Dollar rates fall on Fed cut, banks lean on Fed

Federal Reserve cut its benchmark rates by half a percentage point and created more currency swap lines to ease dollar funding worldwide. ... Taiwan and Hong Kong followed the Fed with interest rate cuts on Thursday, while speculation persisted that ...

UPDATE 2-Fed's Yellen-US economy worrisome, rates could fall

BERKELEY, California, Oct 30 (Reuters) - Trends in the U.S. economy are "deeply worrisome" at a time when damage from the credit crunch has outpaced the Federal Reserve's huge interest rate cuts, a top Fed policy-maker said on Thursday. Janet Yellen ...

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