Soros sees no bottom for world financial "collapse"

Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union. He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system.

"We witnessed the collapse of the financial system," Soros said at a Columbia University dinner. "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."

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Source: reuters

Markets surge on the first trading day of the new year

"You're going to have to call this a trading rally that's part of the larger bear market complex," said William Rhodes, chief investment strategist of Rhodes Analytics. "At least it's a good way to start out."…..
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Source: international herald tribune

Markets soar on Obama spending pledges

Commodities stocks led the rally, trimming back recent sharp declines, on bets that the US president-elect's plan to spend on infrastructure projects would boost demand for oil, steel and other raw materials. In the UK, Royal Dutch Shell, BP and Anglo American rallied more than 6 per cent as commodity prices rose. US Steel, Alcoa, and Chevron all rose strongly in the US...

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Source: the independent

U.S. needs to act now over economy declares Obama

America's President-elect Barack Obama has told the US the country needs to 'act and act now' to rescue the economy...

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Source: belfast telegraph

US stocks slide on economic worry

US stocks dropped sharply Thursday after dismal economic news on both sides of the Atlantic renewed worries about the severity of a global slowdown...

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Source: money magazine