Corporation News

The euro fell against the U.S. dollar as the single currency traded around 1.2880 to the dollar levels. British pound also gave the green of money, reaching levels around 1.4910 to the dollar.
Dollar strengthened their positions during the North American session after U.S. stock markets decreased due to continued weakness in the market for homes. This has led much of investors to reduce their risk assets.
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Stock Quotes in the USA today’s session started with decreases after negative data on the labor market in the country, which showed that companies from non-agricultural sector have closed nearly 500 thousand jobs in November, but the level of unemployment noted consequential increase to 6 7 percent.

At present, Dow Jones Industrial Average falling by 1.9 percent to 8 215.51 points, while S & P 500 fell by 2.2 percent to 826.26 points. Technological Nasdaq Composite reported a decline of 2.3% to 1 412.75 points.

Securities of Boeing Corp. fell by 6.6 percent to 36.60 dollars after it became clear that corporation may slow deliveries of the new model “787 Dreamliner” at least another six months. Shares of General Motors become cheaper to 4.6 percent since the start of trade reaching 3.92 dollars after road of concern reported that a further reduction plan 2 000 employees in early 2009 because of deteriorating sales of cars U.S..

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Prime Minister of Australia Kevin Rud announced plan to boost the economy. Pacific country became so serious that adopts measures to combat the crisis that threatens the world economy with recession.
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New U.S. president Barak Obama outlined the contours of a plan to revitalize the U.S. economy over the next few years forward AP.
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Registrations of new cars in Europe in October fell by 14.5 percent on an annual basis after falls of 8.2 percent in September and 15.7 percent in August. It cited by AFP showed evidence of the European Association of Automobile Manufacturers.
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Officials from 20 industrialized economies (G-20) are gathered this weekend in Sao Paulo to discuss a plan to revitalize the growth of world economy.
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The new U.S. president who will take over one of the hottest positions in the world, must fight a number of problems. The credit crisis, collapse of Mortgage Market stabilization of the financial crisis, huge budget deficit and weakening labor market are only part of the emerging themes that are already out of control of U.S. authorities and showed interest worldwide.

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U.S. shares rose more expensive, thus their weekly growth rose by the largest since 1974 after JPMorgan Chase acted to deal with problematic mortgages, interbank interest rates decreased and the profits of companies outside the financial sector grew four times faster than in the previous quarter.

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U.S. markets erased its gains since the beginning of the session, which had resulted from a slower than expected slowdown in the U.S. economy. Shares, however, continue to be traded on the green territory.
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The Federal Reserve reduced the basic rate in the country by 50 basis points to 1 percent, which is the second reduction last month. Expectations were for the reduction of interest within 0,5-1%.

“The rate of economic growth appears to be delayed significantly because of decreased consumer spending. Investment in business equipment and industrial production weakened in recent months and is slowing economic growth in many foreign economies threatens U.S. exports. Additionally, market turbulentsii likely will reduce costs, partly due to reduction in the ability of households and businesses to obtain loans, “says the official release of the Fed.

“Due to declining prices of fuel and other commodity assets and expectations due to weakening economic activity FOMC expects inflationary pressures to fail in the coming quarters to levels corresponding to price stability”, says in the message.

“Recent actions, including today’s reduction in the basic rate, coordinated reductions of interest rates by central banks, additional measures to enhance liquidity and public steps to strengthen the financial system should improve credit conditions and regaining moderate economic growth. However, risks in terms of growth there. FOMC will monitor economic and financial indicators closely and will do whatever is necessary to support sustained economic growth and price stability.

The U.S. market reacted to the cancellation of the original rastove to 20:25 local time DJIA reported a decrease of 0,74%, Nasdaq fell by 0.05 percent and S & P 500 reported drop of 0.7 percent.

Today China’s central bank divest the basic interest rate to 6.66 from 6.93 previously.

Norway’s central bank also lowered the basic interest of the country - by 50 basis points to 4.75 after earlier for three years led to higher policy rates.

Next week is expected the ECB to lower interest rates by half a percentage point to 3.25 percent.

In early October the ECB lowered interest rates by 50 basis points to 3.75 percent in coordinated shares together with several other central banks.

According to an anonymous source Reuters reduction of the base rate will be by the Japanese central bank.