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USA UK and Malta News
01/10/2008 - 19:46

UK today Editoweb, 1 october 2008

US stocks wobble, Europe, Asia gain in anxious trading - Irish Banks: Sarkozy 'Backs Plan' - Dollar firmer on hopes bank bailout will pass.



US stocks wobble, Europe, Asia gain in anxious trading

Share prices wilted on Wall Street Wednesday after posting gains in much of Asia and Europe in cautious trade reflecting investor anxiety over the fate of the US finance sector rescue package.

Irish Banks: Sarkozy 'Backs Plan'

Irish Prime Minister Brian Cowen says that his government's plan to guarantee all savings in some banks has the backing of French President Nicolas Sarkozy.

Dollar firmer on hopes bank bailout will pass

The dollar was higher against the euro on Wednesday, extending gains on hopes a US Senate vote later in the day would ensure passage of a massive bank bailout package and calm the markets.

UBS to cut 1,900 banking and trading jobs

Swiss bank UBS , dealing with mounting credit losses and slumping markets, plans to cut 1,900 more jobs in its investment banking, equities and fixed-income trading businesses, a person familiar with the situation said Wednesday.

Europe shares end up ahead of U.S. rescue plan vote

European shares ended higher on Wednesday ahead of a crucial vote by the U.S. Senate on a revised $700 billion (392 million pound) financial sector bailout plan, but economic data painted a bleak picture for the global economy.

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