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Business 02 Dec 2008 | 12:00 AM

It's official: US has been in a recession all year

The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday.hr noshade size=1 width=50%>

Business 02 Dec 2008 | 12:00 AM

US stocks fall sharply on consumer spending worries

The reality that the U.S. is indeed in recession and that the downturn may well be prolonged sent Wall Street plunging Monday, hurtling the Dow Jones industrials down nearly 700 points and wiping out more than half of last week's big gains.

Business 02 Dec 2008 | 12:00 AM

Nikkei index tumbles Tuesday after US plunge

Japan's Nikkei index tumbled more than 6 percent Tuesday as selling spread across the board on big losses on Wall Street amid growing gloom over the global economy.

Business 02 Dec 2008 | 12:00 AM

BoJ governor: Economic conditions getting worse

Bank of Japan governor Masaaki Shirakawa warned yesterday that economic conditions were deteriorating fast, and Japanese firms were finding it increasingly hard to secure credit.

Business 02 Dec 2008 | 12:00 AM

Oil falls below US$49 Tuesday on bleak US news

Oil prices fell to near a 3-year low below US$49 a barrel Tuesday in Asia, as more bleak U.S. economic news and plunging stocks markets darkened investor expectations for crude demand.

Business 01 Dec 2008 | 12:00 AM

Chinese group reports manufacturing slowing

BEIJING (AP) - China's manufacturing activity contracted sharply in November as a downturn in the world's fourth-largest economy worsened, raising the threat of politically volatile job losses, according to data reported Monday.

Business 05 Nov 2008 | 12:00 AM

US stocks surge as investors anticipate yearend rally

Investors believing that Wall Street is on the verge of a yearend rally piled into the market Tuesday, brushing off more weak economic data while they scarfed up stocks and propelled the Dow Jones industrials up 300 points to its highest close in four weeks.hr noshade size=1 width=50%>

Business 04 Nov 2008 | 12:00 AM

US stocks end quiet session mixed ahead of election

Wall Street ended the calmest session in recent memory with a narrowly mixed performance Monday as investors looked past a weak reading on the manufacturing sector and focused on the election.hr noshade size=1 width=50%>

Business 21 Oct 2008 | 12:00 AM

S’pore economy seen weak for several quarters

The city-state's economy, which fell into a recession in the third quarter, will see growth remaining weak for 'several quarters' though inflationary pressures will take time to ease, the country's trade minister said yesterday.

Business 05 Sep 2008 | 12:00 AM

Concern over scope of reinvestment allowance

WHAT stands out upon a close look at Budget 2009 is that it is one of the few budgets where investment incentives are not given prominence.