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APRIL is the cruelest month, or so the poet said, but this April, spring has brought life to the global stock markets, with recovery everywhere. The pessimists say this is a bear market rally, and perhaps it is, but for investors who have lost almost non-stop for over a year, some relief was welcome - almost necessary.
TOKYO: The central banks of Japan and Australia yesterday reported signs of improvement in their economies, but investors fretted that a global recovery was some way off after weak data from Europe and the United States.
NEW YORK (Reuters) - Private developers of New York's World Trade Center site and the public agency that owns the land have failed to reach a deal to allow construction to go forward, the city's Mayor Michael Bloomberg said on Tuesday.
WELLINGTON: New Zealand's economy is on track to begin growing before year's end but the recovery from recession is likely to be slow, the nation's central bank chief said Wednesday.
WASHINGTON: Aiming for greater limits and more clarity in the U.S. financial system, the Obama administration on Monday proposed adding muscle to the Federal Reserve and new restrictions on complex securities whose collapse choked lending and hit millions of American households.
WASHINGTON The Obama administration's plan to revamp regulation and prevent any more crashes like those that felled AIG and Lehman Brothers includes a bold new idea: Empower the Federal Reserve to oversee the biggest financial players whose failure could threaten other institutions and the economy.
CAIRO: The Saudi investment firm run by a Saudi billionaire with a big Citigroup stake is pressing ahead with plans to build the world's tallest building despite the global meltdown.
WASHINGTON: President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America's troubled financial institutions, proposing the most ambitious revision since the Great Depression of the 1930s.hr noshade size=-1 width=50%>