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Oct. 6 (Bloomberg) -- The cost of protecting bonds of Avis Budget Group Inc. from default increased the most in at least four years last week on concerns that the economic slump will hurt travel and rising interest rates will raise borrowing costs.
NEW YORK (October 07 2008): Fear gripped investors around the world on Monday, causing them to dump stocks and snap up safe-havens after European leaders were seen doing too little too late to stem a spreading financial crisis that threatens global growth.
HONG KONG (October 07 2008): Standard & Poor's Ratings Services said on Monday its lowered its long-term foreign currency sovereign credit rating on the Islamic Republic of Pakistan to 'CCC+' from 'B' and its long-term local currency rating to 'B-' from 'BB-'.
Rating analysts are taking a second look at The Hartford Financial Services Group in light of its recent hit on Wall Street, third quarter investment losses and infusion of outside capital. Analyst
Standard & Poor's cut its ratings on $8.16 billion of U.S. collateralized debt obligations, reflecting credit deterioration and recent ratings cuts on residential mortgage-backed securities amid continuing housing weakness.
ANZ has emerged as the early front-runner in the race to win control of Queensland financial services group, Suncorp-Metway.
NEW YORK (Reuters) - Fears that the credit crisis will not be contained sparked panic selling across global stock markets on Monday and sent crude oil prices plunging as investors rushed for the safety of government bonds and gold.
LONDON (SHARECAST) - Dow Jones staged a late rally but still finished nearly 400 points lower. At one point the loss had been more than double that figure.
zone now. We've tipped over from bear market to panic," said John Schloegel, vice president of investment strategies for Capital Cities Asset Management in Austin, Texas.
CHEMICALS: A fire at a crude palm oil tank of Thai Oleochemical Co (TOL) on Sunday night is expected to cause just marginal damage to the company, according to parent PTT Chemical Plc (PTTCH).
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