New York - US stocks opened up on Thursday after a steep dive a day earlier amid ongoing fears of a global recession.
The blue-chip Dow Jones Industrial Average gained 91.28, or 1.06 per cent, to 8,669.19 about 10 minutes after the opening bell.
The broader Standard & Poor's 500 Index picked up 10.44 points, or 1.15 per cent, to 918.28 at 9:42 am (1342 GMT). The technology heavy Nasdaq Composite Index earned 9.23 to 1,637.56.
Frankfurt - German banks across the board have been steadily winning new customers as the financial crisis mounts, statistics released Thursday show.
Rather than withdrawing money from banks to hide under the mattress, Germans appear to regard banks as the safest place, especially after a promise last month by Chancellor Angela Merkel that not one euro in banks will be lost.
The country's top commercial bank, Deutsche Bank, said Thursday on its website its customer base had grown net by 200,000 since the start of the year to nearly 10 million.
New York - Citigroup extended its financial losses for a fourth quarter, registering a loss of 2.8 billion dollars for the period between July and September.
The bank attributed part of its loss to nearly 10 billion dollars in writedowns from loans gone bad and securities that have lost value.
New York - Merrill Lynch reported its fifth straight quarter of losses Thursday as it registered a 5.2-billion-dollar loss for the third quarter of 2008.
Merrill Lynch, which is facing a takeover by the Bank of America, attributed its losses to continued writedowns on bad loans.
The losses reported Thursday compare with third-quarter 2007 losses of 2.2 billion dollars.
Altogether, the bank has suffered losses of 25 billion dollars during the ongoing financial crisis, making it one of the biggest victims worldwide.
Tokyo - The Japanese parliament on Thursday approved a supplementary budget of 1.81 trillion yen (17.85 billion dollars) for the 2008 fiscal year through March, mainly to finance the government's economic stimulus package amid the global financial crisis.
The stimulus package allocates 446.9 billion yen to measures to support small businesses and 188.1 billion yen to promote energy-saving efforts and to help the agriculture and fisheries industries deal with higher oil prices.
About 351.8 billion yen of the extra budget will go to reduce the financial burden on the elderly under a medical insurance programme introduced last April, while 729.6 billion yen will be spent for disaster prevention measures.
New York - US stocks opened up on Thursday after a steep dive a day earlier amid ongoing fears of a global recession.
Washington - Inflation remained unchanged in the United States las
Frankfurt - German banks across the board have been steadily winning new customers as the financial crisis mounts, statistics released Thursday show.
New York - Citigroup extended its financial losses for a fourth quarter, registering a loss of 2.8 billion dollars for the period between July and September.
New York - Merrill Lynch reported its fifth straight quarter of losses Thursday as it registered a 5.2-billion-dollar loss for the third quarter of 2008.
