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USA UK and Malta News
27/10/2008 - 19:19

UK Today Editoweb 27 october 2008

French prosecutors probe Caisse d'Epargne trade losses - Oil climbs above $64 as Wall Street rallies -
US new home sales manage 2.7 percent rise.



French prosecutors probe Caisse d'Epargne trade losses

French prosecutors on Monday announced a probe into how the Caisse d'Epargne bank lost more than 700 million euros in risky derivatives trading at the height of the global finance crisis.

Oil climbs above $64 as Wall Street rallies

Oil climbed back above $64 a barrel on Monday as it followed equity markets higher and recovered from deep falls to a 17-month low.

US new home sales manage 2.7 percent rise

US new home sales showed a modest 2.7 percent rebound in September, helped by falling prices, government data showed Monday.

Dollar and yen gain as U.S. stocks head up

The dollar and yen gained on Monday as a slide in world stock markets and fears of a global recession prompted investors to abandon risky assets, but U.S. stocks bucked the downward trend on Verizon's good results.

US to plow billions into major banks, but shares dive globally

The US government said Monday it would plow 125 billion dollars into nine top banks under its huge bailout plan, but shares slid worldwide amid recession fears and despite a G7 pledge to take action.

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