SNAPSHOT – Financial Crisis – 2025 GMT
NEWS
- U.S. posts record $956.80 bln budget deficit for the first
half of fiscal 2009, more than tripling the year-ago deficit
- Obama says he is seeing “glimmers of hope” across the
recession-hit U.S. economy but it remains under severe strain
- Turkey and IMF agree in principle on conditions of a new
loan deal worth up to $45 billion to help weather crisis
- Japan says it would sell more than $100 billion in debt in
the next 12 months to finance a record economic stimulus plan
- China exports, imports fell in March for fifth straight
month, but govt and economists see signs of a peak in contraction
MARKETS
- Asian shares rise, with South Korean stocks hitting a
6-month high; Japan’s Nikkei .N225 touches three-month high
- U.S. stocks .N end holiday-shortened week sharply higher
as Wells Fargo forecasts a record quarterly profit. Dow up 3.14
- Europe shares close higher on Thursday, buoyed by positive
U.S. news including Wells Fargo statement
- Oil prices rise nearly 5.8 pct on Thursday, fueled by stocks
rally, US data on workers filing new claims for jobless benefits
- Euro at lowest in almost a month against dollar
, hurt by holiday trade and view ECB edging toward easing
QUOTES
“We’ve still got a lot of work to do.” But “we’re starting to
see progress.” – U.S. President Barack Obama.
“We’ve agreed to a set of principles, within that framework
our hope is to finish the work (on the deal) on Turkey’s side
before its spring meetings.” – Turkish Economy Minister Mehmet
Simsek, referring to the next IMF meeting in about two weeks.
“Japan’s economy is worsening rapidly with exports and
production tumbling. Job conditions are also deteriorating
sharply.” – Japanese Prime Minister Taro Aso.
“The figures show signs of improvement from February, but it
is still too early to say that the worst is over for China’s trade
sector.” – Zhou Xi, an analyst with Bohai Securities in Tianjin.
“The market was helped by Wells Fargo’s stronger than expected
first quarter results estimate, fueling hopes of stabilization in
U.S. financial markets.” – Won Jong-hyuck, a market analyst at SK
Securities in Seoul.
DIARY
(all times GMT)
SATURDAY
WASHINGTON – Obama delivers his (taped) weekly radio address
at 1406; Minnesota Governor Tim Pawlenty delivers Republican
response at 1506.
TUESDAY
WASHINGTON – The Commerce Department issues retail sales for
March at 1230; the Labor Department issues producer price index
for March at 1230.
(Compiled by World Desk, Americas, +65 6870 3815)
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