It was a better session for Wall Street overnight, after the previous day’s falls.
May 29, 2009
Chrysler would disintegrate without Fiat deal: CEO
NEW YORK (AFP) – Chrysler chief executive Robert Nardelli urged a US bankruptcy judge Thursday to approve the failed auto giant’s tie-up with Fiat, saying the alternative would be a calamitous liquidation.
New US jobless claims fall in past week
New US unemployment claims fell to 623,000 in the past week, the Labour Department says, a decline that was better than forecast by most analysts.
Oil soars past & #36;65 on OPEC, US inventory drop
NEW YORK, May 28 (Reuters) – Oil surged past & #36;65 a barrel on Thursday to a fresh six-month high after OPEC decided to keep output unchanged and government data showed a steep drop in U.S. crude inventories.
Germany holds out for deal on Opel takeover
BERLIN (AFP) – German politicians said on Thursday they were confident of striking a deal to safeguard the future of General Motors’ Opel unit even after talks with Washington broke down in acrimony.
Dollar ends the day lower
THE dollar closed lower on Thursday as risk-averse investors moved back into the US dollar.
Dollar lower at noon
THE dollar was lower at noon after investors looked past a weak start to Asian equity markets and pared back losses suffered during overnight trading.
AED Oil buys half of Nexus project
Nexus Energy has sold half of its Longtom gas and condensate project offshore Victoria to AED Oil for $155 million.
Miners, banks push shares down 1pc
THE share market fell more than 1 per cent in morning trade, dragged down by major banks and miners.
Market friction drove low rates – RBA
THE Reserve Bank of Australia (RBA) says the failure of Lehman Brothers in 2008 dramatically escalated the global financial crisis and reduced the impact of changes to monetary policy.