Jobless claims hit 25-year high, imports plunge

Jobless claims hit 25-year high, imports plunge Doug Palmer WASHINGTON (Reuters) - The number of U.S. workers drawing jobless benefits hit a 25-year...

World stock markets slump...and it's only Monday

"LONDON (AP) -- World stock markets slumped again Monday with the Nikkei index in Japan closing at its lowest in 26 years as the financial crisis drove up the yen, piling the pressure on the country's exporters. Tokyo's Nikkei 225 index closed down 6.4 percent to 7,162.90...

EI funds won't last through prolonged recession

Canadian actuaries are warning, should the turmoil in the U.S. financial markets throw Canada into a prolonged recession, current EI reserves won't last.  Actuaries calculate the cost of assuming risk, they are an essential part of any insurance program, and they also...

TSX Drops nearly 500 Points Due to Fuel Prices and Mortgage Crisis

The US mortgage quagmire and fluctuating fuel prices have caused the Toronto Stock Exchange to wobble... yesterday, the TSX lost 4%.  Though bad for everyday folks, high fuel prices actually tend to boost the TSX, so at the moment you will be unlikely to find Canadians...

US house prices continue to fall

According to recent figures, "No city in the 20-city index experienced price gains in May for the second straight month". In addition, the index "fell by 15.8 per cent in May compared with a year ago". The current crisis has been blamed on the offer of mortgages that...

Dubai house prices up 78%, another surge guaranteed « Peter J. Cooper’s We...

"Dubai house prices rose 78 per cent in the year to the end of Q1, according to a report from Colliers International. But all the anecdotal evidence suggests that rising prices have continued since then, and may have considerably further to go as the Federal Reserve cuts...

Asian stock markets slump, Wall Street flat « Peter J. Cooper’s Weblog

"China led the Asian markets sharply lower with shares down 5.7 per cent in Shanghai, 3.5 per cent in Hong Kong and 2.5 per cent in Sydney. But after last Friday’s plunge the big cannons were out on Wall Street to steady nerves and head off a likely Black Monday."